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

TRADER TALK VIDEO GALLERY

» More

Current DateTime: 12:33:39 05 Jul 2009
LinksList Documentid: 30483322
Expiration DateTime: 7/5/2009 12:36:22 PM

RSS FEED

» Help

Current DateTime: 12:33:40 05 Jul 2009
LinksList Documentid: 30456179
Trader Talk Video Gallery
CNBC's Bob Pisani reports on the trading day from the NYSE.
CNBC's Bob Pisani reports on the trading day from the NYSE.
CNBC's Bob Pisani has this week's ETF 101.
Bob Pisani reports on the trading day from the NYSE.
Bob Pisani has this week's CNBC 101.
CNBC's Bob Pisani reports on the trading day from the NYSE.
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 Blog
Text Size
Apr.10
9:10 AM ET

The dollar is weak again; Band of England lowered rates, but Europe has been weak right from the open and that weakness has spilled over into our futures.

Elsewhere:

1) March retail sales were again fairly sluggish, one third beat estimates, two third missed, according to RetailMetrics. A couple standouts: discounters like Wal-Mart [WMT  Loading...      ()   ], Costco [COST  Loading...      ()   ], BJ's [BJ  Loading...      ()   ] , all did well, so we are clearly seeing tradedown. Teen apparel store Buckle sales were a big surprise up 20.9 percent (up 7 percent expected), Aeropostale [ARO  Loading...      ()   ] also slightly better than expected. The good news is that comps will be easier for next month, because April last year did not include Easter. Rebate checks will not arrive until May.

Wal-Mart's same store sales for March were up 0.7 percent from a year earlier, below expectations of a 1 percent gain. However, they boosted guidance for the first quarter to $074 to $0.76, from $070 to $0.74, so it's up fractionally pre-open.

Men's Wearhouse [MW  Loading...      ()   ]reaffirmed their first quarter estimates of $0.20 to $0.24 (analyst estimate $0.22).

2) DuPont [DD  Loading...      ()   ] raised first quarter and full year guidance. The agricultural business has been particularly strong (about 25 percent of sales), and overall sales in emerging markets has been strong (Asia/Pacific about 20 percent of sales).

3) Lehman [LEH  Loading...      ()   ] has liquidated three investment funds that dropped notably in value and took $1 b of those assets onto its balance sheet. Down 3 percent. Most traders think they are basically bailing out investors hoping the parent can better fund those assets.

More important is Deutsche Bank's Mike Mayo, who met with Lehman's CFO and put out a widely-discussed note this morning. Mayo said his meeting was somewhat downbeat and sober: "Conditions remain tough, whether it relates to client flows, activity, or even hedging." He concluded by saying "Lehman's strategy is evolving to take on less risk to better hunker down in tough times and to generate lower risk earnings growth longer-term. This new harsh reality is sobering to those looking for a quick fix for the financial sector."

related content


LATEST FROM TRADER TALK


Current DateTime: 12:33:40 05 Jul 2009
LinksList Documentid: 20477529
Expiration DateTime: 7/5/2009 12:36:09 PM

Questions?  Comments? 

© 2009 CNBC, Inc. All Rights Reserved

Tools:
PrintEmailAdd This share icon
Next Post


Current DateTime: 01:04:45 05 Jul 2009
LinksList Documentid: 29778428

Current DateTime: 01:05:47 05 Jul 2009
LinksList Documentid: 29779196

Current DateTime: 01:04:45 05 Jul 2009
LinksList Documentid: 29779199

Current DateTime: 01:05:47 05 Jul 2009
LinksList Documentid: 29779198
CNBCCNBC
About CNBC  |  Site Map  |  Privacy Policy  |  Terms of Service  |  Video Reprints  |  Advertise  |  Help  |  Contact
Partners: AOL Money  |  BloggingStocks.com
CNBC is a Division of NBC Universal
  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.
Thomson ReutersThomson Reuters