The "Fast Money" traders share their final trades of the day.» Read More
The Altria board, as expected, announced the spinoff of its Philip Morris International division. Precise timing of the spinoff will be announced at its regularly meeting on January 30, 2008. Also, as expected, voted to increase the dividend 8.7% to $0.75. The stock is still up, but off its highs; no statement on increased buyback, or cost reduction efforts.
Will the turbulent market settle in the new season or is there more volatility ahead? What sectors are poised to gain the most this fall? The traders guide you through what is historically one of the most active times of the year for the stock market.
"Massive short squeeze run?" JP Morgan's Charles Grom raises the question of whether we'll see a short squeeze run of retail shares when same store sales are released this Thursday much like we saw last month. If you remember, June's same store sales were not strong by any means rather they were more or less on plan for what is traditionally a weak summer sales season (buyers are on the beach not the in the malls.)
Dillard's shares soared almost 12% on Thursday after an activist hedge fund unhappy with the department store operator's performance demanded talks with management, saying the stock is undervalued.
Hey folks, here's one of our last contest stock reports. And it's somewhat appropriate we do so as we are coming back full circle to the start of the contest with Fremont General once again on the actives list based on their news about its reorganization, selling a unit, and installing new management. Here you go:
Department store chain Dillard's posted a 30% drop in first-quarter profit as sales declined, sending shares lower. Net profit fell to $42.9 million, or 53 cents a share, from $61.3 million, or 77 cents a share, a year earlier.
Federated Department Stores said stronger same-store sales and lower costs boosted fourth-quarter earnings 5% higher. And Chairman and CEO Terry Lundgren told CNBC's Becky Quick that the parent of Macy's and acquirer of May Stores is getting "better and better."
Retailers reported mixed sales for December, as unusually warm weather hurt sales of winter apparel but stores with high-end or big-ticket items lured shoppers at the end of the month.
Holiday spending is in full swing - with online shoppers spending nearly $12B so far this season and U.S. November same-store sales up 1.8%. But all that money isn't helping the stocks. After a run-up--retailers remain under pressure--down 1.25% last week. What should investors buy and sell? On CNBC’s “Morning Call” Erin Burnett asked Goldman Sachs Retail Analyst--Adrianne Shapira.