The "Fast Money" traders look ahead to earnings coming out next week from the retail sector.» Read More
Retailers are getting clobbered today, but don't miss the key story.
U.S. sovereign bond yields sank on Friday, as volatility in stocks has revived safe-haven demand for government paper, ahead of October retail sales data.
*Cisco's forecast drags on tech stocks. Nov 13- U.S. stock indexes fell sharply on Friday, weighed down by a selloff in technology companies after a disappointing forecast from Cisco, while department stores dropped on concerns about the key holiday shopping season. Dow component Cisco fell 6.4 percent after it gave a weak forecast, citing a slowdown in orders and...
Nov 13- Slumping same-store sales at upscale U.S. department store operator Nordstrom Inc could point to more than a glut in retailers' inventories, not just a longer-than-usual spell of warm weather and fewer spendthrift tourists. Trouble at Nordstrom- seen as head-and-shoulder above rivals such as Macy's Inc and cheaper retailers including Kohl's Corp in...
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*Cisco's forecast drags on tech stocks. Dow component Cisco fell 6.4 percent to $26.05 after it gave a weak forecast, citing a slowdown in orders and weak spending outside the United States. The stock was the second-biggest drag on the S&P and the Nasdaq and pulled down the stock of tech heavyweights such as Oracle and Microsoft.
While J.C. Penney still has a long way to go in reaching its goal of $1.2 billion in EBITDA by 2017, it continued to show marked progress.
Nov 13- J.C. Penney Co Inc reported better-than-expected quarterly net sales and a smaller-than-expected loss, helped by demand for home products and footwear and a strong performance by the growing number of Sephora beauty shops in its stores. Deutsche Bank analyst Paul Trussell summed up J.C. Penney's quarter as "good results, but bad timing."
*Cisco falls after weak forecast. Nov 13- U.S. stocks were lower on Friday after Cisco's disappointing forecast and as weaker-than-expected October retail sales data and forecast cuts by department store chains fueled fears of a slowdown in demand ahead of the key holiday shopping season. Dow component Cisco fell 5.6 percent to $26.27 after it gave a weak...
Discussing Nordstrom's widespread earnings miss across categories, and what it signals about mall traffic, with Joan Payson, Barclays retail analyst.
*3rd- qtr adj. loss $0.47 vs est. loss $0.55. Nov 13- J.C. Penney Co Inc reported better-than-expected quarterly net sales and a smaller-than-expected loss, helped by demand for home products and footwear and a strong performance by the growing number of Sephora beauty shops in its stores. Macy's Inc and Nordstrom Inc, whose customers tend to be more affluent than...
*Dow component Cisco falls after weak growth forecast. *Nordstrom sinks on full-year forecast cut. Department store chains Macy's and Nordstrom have both reported disappointing results and lowered their full-year forecasts in the past two days.
U.S. stock index futures pointed to a lower open on Friday, as investors digested October's retail sales, following a string of warnings from major retailers.
Some of the names on the move ahead of the open.
Investors are also watching October's retail sales for any new signals about the health of the consumer.
Nov 13- Department store operator J.C. Penney Co Inc reported better-than-expected quarterly net sales on Friday, helped by demand for home products and footwear and a strong performance by the Sephora beauty shops in its stores. J.C. Penney's net loss narrowed to $137 million, or 45 cents per share, in the third quarter ended Oct. 31, from $188 million, or 62 cents per...
*Cisco, late on Thursday, said order growth was slowing and its enterprise business outside the United States was weakening. *Dow component Cisco's shares fell 5 percent to $26.42 premarket after the network equipment maker forecast adjusted profit and revenue growth below estimates. *Nordstrom sank 20.75 percent to $50.30 after its weak results and forecast.
J.C. Penney topped expectations on revenue, but its stock fell in premarket trading as did many other department store chains.
U.S. stock futures were lower this morning, after Thursday's sharp drop.