Walmart's New Health Food Push: Is It Too Hard to Swallow?
Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger
The market was weak just about all day, but an Obama speech on his broad and general economic plans gave some pause to the selling and allowed at least a NASDAQ recovery and the broad markets were not as bad as before. Despite atrocious retail numbers, there were several theme-oriented retailers who saw same-store sales gains, which helped their stocks. This was also the second consecutive week where weekly jobless claims came in less than expected and under the 500,000 mark. There was a flood of downgrades from Wall Street analysts this morning. Here are today's unofficial closing bell levels:- DJIA: -27.08 (8,742.62)
- S&P500: +3.08 (909.73)
- NASDAQ: +17.95 (1,617)
Whole Foods Markets Inc. (NASDAQ: WFMI) rose sharply after activist Ron Burkle's Yucaipa Cos. investment arm took a 7% stake in the high-end and organic grocer. Shares were up over 20% at $12.19 late in the day.
Wal-Mart Stores Inc. (NYSE: WMT) was nearly the Grinch that stole Christmas. The company gave poor December numbers that ultimately lowered its net earnings guidance due to consumers shifting to lower-end items. Shares were down over 7% at $51.26 late in the day, but that was well off of lows.
Schlumberger Limited (NYSE: SLB) did not just get hit with the two-day selling in oil. Layoffs are coming to its workforce. Shares were down 1.5% at $44.89 late in the day.
Sun Microsystems Inc. (NASDAQ: JAVA) was pounded after Goldman Sachs cut it to a SELL rating. Shares were down 10% at $4.58 late in the day.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
