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Major Companies Shed Record Jobs In 2009 (WMT, JPM)
Thursday, April 15, 2010 - 12:44pm | 129Fortune 500 companies slashed a record 821,000 jobs in 2009. According to Reuters, these companies collectively increased their profits three-fold in 2009. However, there was a 8.7% decline in sales revenue. Business magazine Fortune has released its latest business rankings. Shawn Tully, Fortune’s...
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Retail Stocks Dip After Rise In Weekly Jobless Claims
Thursday, April 15, 2010 - 10:31am | 134Retail stocks have slipped today after the Labor Department announced an unexpected rise in the weekly jobless claims for two consecutive weeks. The continued rise in jobless claims has raised concerns regarding the recovery of the job market, which analysts say is the key to consumer spending....
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SPDR S&P Retail ETF (XRT) Approaching All Time Highs
Wednesday, April 14, 2010 - 3:30pm | 1260Quite remarkable... as some stocks rally to reach pre Lehman Brothers levels, the broadest retail / consumer discretionary ETF - SPDR S&P Retail ETF (XRT) is now approaching all time highs. (3 year chart - click to enlarge) (4 month chart - click to enlarge) This is a great ETF to track...
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Top 5 Large-Cap NASDAQ Stocks With Highest Revenue Estimates (COST, MSFT, DELL, SHLD, ESRX)
Wednesday, April 14, 2010 - 5:38am | 179Below are the top 5 large-cap stocks in the NASDAQ in terms of revenue estimates. Costco Wholesale Corporation (NASDAQ: COST) is expected to generate $77.94 billion of revenues this year. COST’s quarterly earnings growth stands at 25.10% y/y. Microsoft Corporation (NASDAQ: MSFT) is expected to...
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Benzinga's After Hours Gainers (ABK, BJ, SUN, COWN)
Monday, April 12, 2010 - 7:08pm | 285Among the stocks that are moving in the after hours this evening are Ambac Financial (NYSE: ABK), BJ's Wholesale Club (NYSE: BJ), Sunoco (NYSE: SUN), and Cowen & Co. (NASDAQ: COWN). During the regular trading session, shares of Ambac Financial (ABK) gained an incredible 104%, closing at $2.25...
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Market News – JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Goldman Sachs (NYSE:GS), Ford (NYSE:F), Alcoa (NYSE:AA)
Monday, April 12, 2010 - 12:56pm | 963Banks JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Wells Fargo (NYSE:WFC) may have to put as much as $30 billion additional dollars to cover the costs of losses on home-equity loans. The amount, calculated by CreditSights Inc out of New York City, is approximately what the banks...
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Market News – JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Goldman Sachs (NYSE:GS), Ford (NYSE:F), Alcoa (NYSE:AA)
Monday, April 12, 2010 - 12:56pm | 963Banks JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Wells Fargo (NYSE:WFC) may have to put as much as $30 billion additional dollars to cover the costs of losses on home-equity loans. The amount, calculated by CreditSights Inc out of New York City, is approximately what the banks...
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Wal-Mart (WMT) Slashes Prices To Boost Sales
Friday, April 9, 2010 - 5:02pm | 493According to a report by the Wall Street Journal, in order to reverse its flagging U.S. sales and to reinforce its name as a discount leader, Wal-Mart Stores Inc. (NYSE: WMT) is aggressively slashing prices on thousands of products. In the economic downturn, Wal-Mart, the world’s largest retailer,...
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Walmart Slashes Prices On Thousands Of Products To Win Back Its Reputation As A Leading Discounter
Friday, April 9, 2010 - 12:46pm | 202The world's largest retailer, Walmart Inc (NYSE: WMT), is slashing prices on thousands of products with the aim of boosting its slacking sales in the US and strengthening its reputation as a discount leader. WMT’s US sales at stores open a year or more have slipped over the recent past, while...
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Company News for April 9, 2010 - Corporate Summary
Friday, April 9, 2010 - 9:45am | 167• Walmart (NYSE:WMT) announced price cuts on about 10,000 items, mainly food and other staples, in an aggressive campaign to hold onto market gains as a discount leader • Constellation Brands (NYSE:STZ) reported estimate-beating results of 27 cents, three cents higher than expected, and up from 21...
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Benzinga’s Top Upgrades (CMI, BJ, DISH, LINC, WSM)
Friday, April 9, 2010 - 9:41am | 169Cummins Inc (NYSE: CMI) was upgraded by UBS from “neutral” to “buy.” CMI shares gained 0.49% to $65.03. CMI’s quarterly earnings growth is 521.26% y/y. Credit Suisse upgraded BJ's Wholesale Club Inc (NYSE: BJ) from “underperform” to “neutral.” BJ’s stock has risen by only 11.39% over the past year...
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March Retail Sales Jump; Retail Stocks Follow Suit (GPS, ROST, TGT, JWN, COST, JCP, ANF, TJX, ARO)
Thursday, April 8, 2010 - 2:23pm | 305With consumption reigniting, retail stocks rose today, even though some of them were close to their 52-week highs. The surge was propelled by retailers achieving record sales for March. The S&P Retail Index rose almost 0.9% to 464.20. Shares of Gap (NYSE: GPS) were up 2.43% at $24.44 at 1:38pm...
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The Not-So-Hidden Gem: 3M (NYSE:MMM)
Thursday, April 8, 2010 - 10:31am | 827While it’s hard to classify any of the thirty Dow stocks as a “hidden gem,” 3M (NYSE:MMM) might come close. Unlike our previously highlighted pick of the week, it doesn’t enjoy a lot of fanfare or advertising wars. 3M is virtually unknown compared to other Dow constituents. Unlike companies like...
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The Not-So-Hidden Gem: 3M (NYSE:MMM)
Thursday, April 8, 2010 - 10:31am | 827While it’s hard to classify any of the thirty Dow stocks as a “hidden gem,” 3M (NYSE:MMM) might come close. Unlike our previously highlighted pick of the week, it doesn’t enjoy a lot of fanfare or advertising wars. 3M is virtually unknown compared to other Dow constituents. Unlike companies like...
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Company News for April 8, 2010 - Corporate Summary
Thursday, April 8, 2010 - 9:30am | 243• General Motors announced a $4.3 billion, post-bankruptcy loss in the second half of 2009, as revenue reached $57.5 billion • Bed Bath and Beyond (NYSE:BBBY) posted better-than-expected fiscal fourth quarter earnings of 86 cents a share, up from Zacks estimates of 73 cents, on revenues of $2.24...