Skip to comments.Stocks head for third day of declines
Posted on 11/09/2012 4:57:31 AM PST by rightwingintelligentsia
NEW YORK (CNNMoney) -- U.S. stock futures were lower Friday, as disappointing corporate results weighed on sentiment, setting the market up for a third straight day of declines.
J.C. Penney (JCP, Fortune 500) reported a much bigger than expected loss, sending its shares tumbling more than 8% in premarket trading. The company lost 93 cents a share excluding special items, while analysts surveyed by Thomson Reuters were forecasting a loss of only 7 cents. Sales also fell short of forecasts. It marked the third straight quarter of bigger than forecast losses at J.C. Penney as new CEO Ron Johnson struggles to remake the company.
After the closing bell Thursday, Disney (DIS, Fortune 500) reported earnings in line with analyst expectations but sales of the entertainment company were a bit short of forecasts. Shares of the Dow component were down 3% in premarket trading.
(Excerpt) Read more at money.cnn.com ...
cnn should be enjoying this since they helped elect obama
Just the beginning
Some evil part of me is enjoying this ...uggg :(
Cool. Kiss the 401K goodbye, also no hope of retirement in our future.
Obamanomics at work here!
CNBC, Bloomberg, CNN all look at the market charts that show a disastrous plunge beginning the morning after the election, and they blame the “fiscal cliff”! This president will never be blamed for anything. They will blame the Republican Congress instead.
By the way, on Bloomberg, there was an interview with the French premier. He and the new Socialist government in France are elated that Obama won, of course, and are counting on the USA to pull Europe out of its mess. So before you turn loose of a dollar, weigh the prospects of it not only helping Obama, but the French Socialists as well.
It’s almost as if something happened 3 days ago that threatens the entire economy! What could that be?
I wonder how long before they close comments. They are not CNN friendly...
I hope those O voters who have a 401 K understand that elections do have
SS won’t cut it for the majority of those who aren’t in poverty already, so
having a tanked 401 is the clearest sign that he wants a dependent society
and them included.
The rest of us will figure out how to diversify, did it already, and survive beyond
this fool and his flying monkey followers
I got up about 20 minutes ago and futures were down about 52. It’s 97 now. Gonna be another fun ride today.
While i know it's going to effect everybody, I hope those who voted for him a second time have a special type of suffering under his policies. At least we know what's coming and are trying to prepare. These idiots who voted for him think bliss is coming their way. I'd love to see their faces when they receive their paychecks in January! :-}
barack hussein obama... mmmmmm... mmmmmm... mmmmmm.
Just the opposite... no jobs... all will be retired.
Even if they have a 401K, the losses will be blamed on Bush, “rich people”, conservatives, and corporations.
In other words, they will come after us first.
There will be no complaining, comrades. There will be much cheering. As such, begin cheering now upon the great victory for the proletariat against the running dogs of evil capitalist bougeousie.. that’s an order.
I will take yours any day. I got wiped out in 2008. Been living off of fumes for 4 years and now all I have is Lucent and they just took a massive hit.
This was very predictable, and someone is making a ton of money off it.
The small business atmosphere that Obama has created is ruining small business’s and small business’s create money for largers ones.Therefore th larger business’s are hurting too.
Yesterday I was reading post after post of people laying off workers. Don’t know why they waited until after the elections.
Still finding it hard to believe that blacks are suffering from 25% unemployment and voted for an even higher percentage when hey voted for Obama.
Stupid is as stupid does.
This looks like a great web site - posts all the business layoff’s, bankruptcies, and closings for the DAY!.
Looks like it’s building the past 3 days.