Shares of Macy’s, Inc.’s (M – Analyst Report) fell 3.2% in yesterday’s after market trading session following the company’s announcement of extensive restructuring, including store closures and layoffs. The announcement overshadowed Macy’s decent holiday comps report. Analysts note that though the restructuring measures are impressive and will result in $140 million in annual cost savings beginning 2015, the…
I received an interesting question from reader Michael yesterday. Michael asked “Did the Real Economy, Not Counting Government, Expand in Last 20 Years?“ Reader Michael did not think so. Take a moment before reading further to think about how I might answer and how John Williams at Shadowstats might answer. My Response If the average…
Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW + 323 = 17,907 SPX + 36 = 2062 NAS + 85 = 4736 10 YR YLD + .06 = 2.01% OIL + .08 = 48.73 GOLD – 2.20 = 1209.90 SILV – .16 = 16.48 Since 1928, the Standard & Poor’s 500 has…
The precedent was set in March of 2009 when Bernanke and Geithner threatened the wimpy accountants at the FASB and forced them to waive the mark to market accounting rules, so the Too Big To Trust Wall Street Criminal Banks could lie and produce fictitious financial statements. When you’re insolvent, just make up the numbers…
Back in May, when the world was still wondering who would step in and bid up US stocks now that the Fed has, if only for the time being, stepped away from indirectly monetizing $1 trillion in US risk every year courtesy of a POMO a day (keeping the short sellers away), we revealed that…
Apollo Education Group, Inc.’s (APOL – Analyst Report) adjusted earnings of 44 cents per share in the first quarter of fiscal 2015 beat the Zacks Consensus Estimate of 41 cents by about 7%. However, earnings declined 58.1% year over year due to lower revenues and profits, and higher taxes. Adjusted earnings exclude restructuring and other…
Well, I got this one wrong. I didn’t think the S&P had the juice to put in the day that it did, although volume was perhaps a little disappointing. Volume did enough to register an accumulation day, although buying volume was well down on previous selling volume. In terms of technicals, only On-Balance-Volume generated a…
I am wondering why the rate of US house construction remains so low. I see two candidate explanations. The first is that lending standards remain very tight — the mortgage lenders having been very badly burnt once remain twice shy. The other is that potential house buyers no longer perceive owner occupied housing to be…
Max is attending his first Comedian’s Convention. He’s very excited to see all the famous comics sitting at tables all around him. Jay Leno gets up and says “Number 64.” Everyone in the hall laughs uproariously, except Max. He turns to an older comedian and says, “What’s everybody laughing about?” “These are all professional comedians,”…
Written by Gary The afternoon markets drifted fractionally higher as the US dollar climbed back up into the important resistance zone that it broke out of once early this morning. WTI oil climber into the 48.70 range this afternoon, stopped and then traded sideways in a narrow trading zone until the close. Important to note that…
