Skip navigation
MOST POPULAR RELATED TAGS
  • TOPICS
  • SECTORS
  • COMPANIES

TRADER TALK VIDEO GALLERY

» More

Current DateTime: 02:00:01 14 Nov 2009
LinksList Documentid: 30483322
Expiration DateTime: 11/14/2009 2:03:22 PM

TRADER TALK RSS FEED

» Help

Current DateTime: 02:00:02 14 Nov 2009
LinksList Documentid: 30456179
powered by digg
Trader Talk Video Gallery
Bob Pisani reports on the trading day from the NYSE.
CNBC's Bob Pisani reports on the trading day from the NYSE.
Insight on earnings, with Rick Dreiling, Dollar General chairman & CEO and CNBC's Bob Pisani.
Bob Pisani reports on the trading day from the NYSE.
Bob Pisani reports on the trading day from the NYSE.
Discussing the latest deficit data, with CNBC's Steve Liesman, Rick Santelli & Bob Pisani; Robert Samuelson, Newsweek & ...
CNBC's Bob Pisani reports on the trading day from the NYSE.
CNBC's Bob Pisani reports on the trading day from the NYSE.

Trader Talk

Text Size
Oct.15
4:46 PM ET
Monday, 15 Oct 2007
Market Story Simple: Citi And Eaton Dominate

It's a pretty simple story today: Citi [C  Loading...      ()   ] and Eaton [ETN  Loading...      ()   ] . Citi, because they spoke about the need to raise reserves for potential losses in the credit area (reviving concerns about a consumer burdened by debt) and Eaton because they lowered Q4 guidance.

Citi's comments lowered financials across the board, hurting not just financials but also credit card companies.

Eaton is important for two reasons: 1) they are one of the first companies to lower Q4 guidance, and 2) they are a classic global, diversified manufacturer.

Eaton owns dozens of businesses in the automotive, aerospace, and industrial business. They own manufacturing facilities all over the world. Not only did the lower earnings, but the talked about a lower outlook for North American automotive, residential construction, and truck markets. Their comments dropped other diversified manufacturers like Parker Hannifin, as well as auto and truck parts companies

In some ways, this is not surprising, because we knew the automotive and housing markets would remain weak into Q4. But this is a warning shot; we have financials increasing reserves for losses, and diversified manufacturers warning housing and trucking/automotive not improving.


LATEST FROM TRADER TALK

Questions?  Comments? 

© 2009 CNBC, Inc. All Rights Reserved

Tools:
PrintEmailAdd This share icon
Next Post
  • digg share
ADD COMMENTS
Remaining characters


Current DateTime: 01:03:47 14 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:02:29 14 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:02:29 14 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:02:29 14 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters