These Fundamentals... They're All Wrong... Still

Wednesday, August 19, 2009 , , , , 1 Comments




I don't know how much more of this I can take.

Banks, Retailers Help Markets Rebound (WSJ):

An uptick in bank stocks and favorable earnings reports from retailers helped the market stage a partial rebound on Tuesday from its recent drubbing.

The Dow Jones Industrial Average followed Monday's 186-point slide and Friday's 76-point decline by rising 82.60 points, or 0.9%, to 9217.94. It was helped by a 3.1% rise in Home Depot, which reported a smaller-than-expected decline in earnings. American Express and Alcoa each gained more than 4%.

Target jumped 7.6% and Saks rose 6.7% after each reported a smaller profit decline than expected. Discounter TJX Cos. reported a 31% rise in second-quarter profits, in line with expectations. Its shares declined 3%, though they had leapt more than 70% for the year coming into Tuesday on bets that TJX would benefit from consumers looking for bargains during the recession.

The earnings reports helped to quell some of investors' recent fears about the health of the U.S. consumer. Those concerns were the root of broader worries that a global rebound might be further off than expected.

Analysts undershoot and suddenly everything is wonderful?

Try again, thank you.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

1 comments:

I am pretty sure most analysts can't tell one part of their body from another.

Unfortunately, many idiots on Wall Street tends to think of them as Gods. I drives me insane...