Hertz CEO Is Really Bullish
We’ve seen continuous improvement every single week for the last 10 weeks in the US rent a car space on improving demand for the summer season. We’ve been buying a lot of cars the last 8 weeks…. We’re scrambling to…
WSJ: How Lennar Survived
By selling land at huge discounts to what it was once valued, big builders generated large losses for tax purposes. By applying those losses against profits during prior years, they have collected about $2.55 billion in tax refunds this year,…
Still Hard Going At FedEx
The operating environment for our first two quarters in fiscal 2010 is expected to be extremely difficult. – Alan Graf Jr., CFO, Federal Express Federal Express (FDX) reported fiscal 4th quarter earnings this morning. Revenue in their core US Express…
Best Buy Reaction Could Be Tell On Change In Sentiment
But the bigger issue is sales. Comparable store sales were down 6 percent compared to the same period last year. True, the stimulus checks handed out last year have created difficult comps for retailers this quarter, not to mention the…
Tiffany’s And The Case Of The Missing Same Store Sales
Period Tiffany US Same Store Sales 1Q FY 2009 -34% 4Q FY 2008 -33% 3Q FY 2008 -14% 2Q FY 2008 -4% 1Q FY 2008 0% 4Q FY 2007 -1% 3Q FY 2007 +8% 2Q FY 2007 +17% I admit it. …
Major Retailers Still Reporting Extremely Negative Comp Sales
Here are some same store sales numbers for major retailers reporting yesterday and today: JC Penney (JCP) same store sales down 7.5% in the quarter ended May 2, 2009 (JCP Earnings Release). Nordstrom’s (JWN) same store sales down 13.2% in…
Cisco Top Ticks Market?
Our customers [in the US, Asia, Europe and Latin America] are beginning to see a steadying, a stabilization, something solid under their feet. – John Chambers, CEO, Cisco Systems, Squawk On The Street this morning John Chambers was pretty optimistic…
Junk Stock Rally Case Study: PF Chang’s (PFCB)
The less-worse trade is in the late innings. We’re at valuation levels where things have to start growing in order to maintain momentum in the stock. – Mitchell Speiser (subscription required), Analyst, Buckingham Research, who has a Sell rating on PF…
This Rally Is Being Led By Junk Stocks
The quality of this rally is low…. The move is powerful but the underlying raitonale weak. – Greg Feirman, Top Gun FP Client Note: The Facts Are Stubborn, April 27 [The bounce was] in extraordinarily dubious quality names. These were…
American Express Report Suggests No Signs Of Economic Recovery
Okay, I admit it: this market is now officially annoying me. American Express (AXP) reported 1st quarter earnings after the close yesterday and from the behavior of the stock you’d think it suggested a major turnaround and economic recovery. The…