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Trader Talk with Bob Pisani

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  Friday, 12 Oct 2007 | 4:15 PM ET

China Betting Consumer Slowdown Not Global

Posted By: Bob Pisani
Active trading today in NASDAQ big caps (Google , Apple, Amazon, Apple), international oil companies, and Chinese stocks. Chinese stocks? Chinese Communist Party holds their annual meeting next week (no I'm not going), Hang Seng in Hong Kong and Shanghai index hit historic highs yesterday. »Read more
  Friday, 12 Oct 2007 | 2:56 PM ET

NYSE Set To Buy NYMEX? LSE?

Posted By: Bob Pisani
Mark Haines and I spoke with NYSE CEO John Thain this morning about the future of the NYSE floor, what the NYSE will be buying next, and other topics: Will the NYSE buy the NYMEX? I asked Diego Perfumo, who covers global exchanges for Equity Research. »Read more
  Friday, 12 Oct 2007 | 9:13 AM ET

Market Moves Up, But Inflation Worries Exist

Posted By: Bob Pisani
Here are my thoughts this morning: 1) Producer Price Index is hot, above expectations, but core (ex-food and energy) below expectations, retail sales stronger than expected, so market has moved up on this because it watches core inflation and is happy retail sales are stronger than expected. »Read more
  Thursday, 11 Oct 2007 | 4:16 PM ET

Stocks Down But Bulls Shouldn't Cry

Posted By: Bob Pisani
No love from the stock market today, and frankly, not even the most rabid bulls (and I am bullish) can complain. Think about it: September retail sales was even worse than were thought; many retailers lowered earnings: energy stocks lowered earnings yesterday... »Read more
  Thursday, 11 Oct 2007 | 2:58 PM ET

Stocks Fall On "Snowball" Effect

Posted By: Bob Pisani
Here’s a good example of what can happen on a low volume, low volatility day. Small, disconnected events can snowball, short-term technical levels can breached, and suddenly the S&P is down 20 points in 30 minutes. »Read more
  Thursday, 11 Oct 2007 | 11:18 AM ET

Retail "Food Fight" Eating Up Stocks?

Posted By: Bob Pisani
A real food fight breaking out over the September retail sales numbers. No hiding the facts: they were below expectations, which had already been lowered. Men's Warehouse, American Eagle, Target, Limited, Nordstrom, JC Penney lowered earnings; Kohl's said earnings would be at the low end of the range. »Read more
  Thursday, 11 Oct 2007 | 9:46 AM ET

Retailer's Surprise: Lower Guidance

Posted By: Bob Pisani
September comparable retail sales were generally lower than expected, even after numbers were lowered in the last week. Apparel companies like Limited, Chico's, Abercrombie, Gap and Limited missed, but so did Target, as did the department stores like Saks and Nordstrom. »Read more
  Thursday, 11 Oct 2007 | 8:52 AM ET

Retailers: Warm Weather Yields Cold Sales

Posted By: Bob Pisani
Warm weather left apparel retailers with a lot of unsold suits and sweaters in September. Limited, Chico's, Abercrombie, Gap and Limited missed. Men's Wearhouse cut its forecast for third quarter profits, citing "continued softening in traffic trends." »Read more
  Wednesday, 10 Oct 2007 | 4:59 PM ET

Retail Concerns Slow Rally

Posted By: Bob Pisani

Concerns that retail earnings and same store sales mightbe on the light side are being born out, at least initialnumbers.

Men's Wearhouse cut its forecast for third quarter profits,citing "continued softening in traffic trends."

American Eagle saw a decrease of 5% in September comparablestore sales, citing lower traffic and unseasonably warmweather.

Separately, restauranteur Ruby Tuesday also reported firstquarter earnings in line with forecasts that had been loweredseveral weeks ago, but they cut their full year forecast aswell.

Traders had to deal with several negatives today:

  1. The Boeing delay of the 787Dreamliner dropped Boeing 3%; other aerospace-relatedstocks like Honeywell were also weak but rallied latein the day
  2. Energy stocks were weak asChevron and Valero lowered earnings estimates,though these stocks rallied back late in theday as oil rallied
  3. The financial rally thatwas entering its fourth week peteredout
  4. Questions? Comments? tradertalk@cnbc.com

»Read more
  Wednesday, 10 Oct 2007 | 1:31 PM ET

Midday Buzz

Posted By: Bob Pisani

Market is dealing with several problems today:

1) Boeing down more than 3% after it delayed deliveries ofits 787 Dreamliner for six months, due to problems assemblingthe plane. Though they say it won't materially hurt 20087 or2008 earnings, it is still a surprise.

Other stocks in the aerospace group are weak:

  • Honeywell make electrical andengine parts for planes
  • Rockwell Collins makeselectronics and communication equipment for theplanes
  • BE Aerospace makescabin components like seats, coffemakers, and refrigeration equipment
  • PrecisionCastparts makes metal parts for theaerospace business
  • SpiritAerosystems makes underwingcomponents and wingsthemselves

    2) Energy companies arelowering earnings -- Chevron, Marathon , Valero .Combined with the lowering ofearnings by financials lastweek, this means that thirdquarter earnings estimatesfor the S&P 500 as awhole are now going to goNEGATIVE.

    3) The market is also dealingwith some contradictions:

    • TheDow and S&P areat new highs, but breadthis only fair--transportsare lagging, small andmidcaps lagging
    • Bullishness amongfinancial newsletterwriters is at the highestlevels since Dec. 2005 --yet market participation-- volume and buyinginterest -- are not veryhigh
    • Q3earnings now zero, butnobody is touching Q4 --bulls say Q4 will clearlybe stronger, bears saythe numbers are going tocome down -- quickly

    Questions? Comments? tradertalk@cnbc.com

»Read more

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