Trader Talk

TRADER TALK VIDEO GALLERY

90 Seconds with Art Cashin: Concern For Greece is Great

CNBC's Bob Pisani and Art Cashin, of UBS, discuss whether there will be much progress in a debt solution for Greece and whether the country will default, exit the euro zone, or both.

90 Seconds with Art Cashin: Greek Deal Not Affecting Markets Yet

09 Feb 2012

CNBC's Bob Pisani and Art Cashin, of UBS, discuss the markets' lack of response to the Greek deal. Cashin asks what will happen when the election comes around in April, as Greeks are already crying about austerity.

90 Seconds with Art Cashin: Can Draghi Help Greece? 08 Feb 2012
CNBC's Bob Pisani and Art Cashin, of UBS, discuss the market drop and concerns the ECB's Draghi may not be able to help Greece.

90 Seconds with Art Cashin: Bernanke's Sigh of Relief Rally

07 Feb 2012

CNBC's Bob Pisani and Art Cashin, of UBS, discuss a down dollar, the up euro and the reasons behind the mini rally. People are realizing Greece doesn't have a payment due till March, and after Bernanke's testimony, there was a sigh of relief rally.

TRADER TALK RSS FEED

» Help

Subscribe to this RSS feed
Stay up to date with the Trader Talk blog.

LATEST FROM OUR BLOGS

» More

- LinkedIn’s Growth Is Already Priced In: Analyst

TOP HEADLINES

» Markets | Economy | Companies

- Is Bill Gross Losing His Touch As the Market's Bond King?

Trader Talk Video Gallery

90 Seconds with Art Cashin:...

CNBC's Bob Pisani and Art Cashin, of UBS, discuss whether there will be much progress in a debt solution for Greece and ...

90 Seconds with Art Cashin:...

CNBC's Bob Pisani and Art Cashin, of UBS, discuss the markets' lack of response to the Greek deal. Cashin asks what will...

90 Seconds with Art Cashin:...

CNBC's Bob Pisani and Art Cashin, of UBS, discuss the market drop and concerns the ECB's Draghi may not be able to help ...

90 Seconds with Art Cashin:...

CNBC's Bob Pisani and Art Cashin, of UBS, discuss a down dollar, the up euro and the reasons behind the mini rally. Peop...

Cramer: 'Where's the SEC' o...

CNBC's Jim Cramer, David Faber and Bob Pisani discuss the planned $18 million IPO of Caesars Entertainment. Cramer call...

90 Seconds with Art Cashin:...

CNBC's Bob Pisani and Art Cashin, of UBS, discuss the possibility of a Greek default. "We've seen this movie," says Cash...

90 Seconds with Art Cashin:...

CNBC's Bob Pisani and Art Cashin, of UBS, discuss the new highs on the Nasdaq and Dow, and the jobs number surprise. It ...

90 Seconds with Art Cashin:...

CNBC's Bob Pisani and Art Cashin, of UBS, discuss what happened to the global panic. We're doing alright, here, says Cas...

Home Depot's Bottom Line: Weaker Sales

Published: Tuesday, 20 May 2008 | 9:37 AM ET

Text Size

By: Bob Pisani
Reporter

Futures dropped a bit as core PPI for April was a stronger than expected.

Elsewhere:

1) Home Depot [HD Loading... () ] beat estimates, reporting earnings of $0.41 (14 percent below last year's $0.48), vs. consensus estimates of $0.37.

Despite the apparent beat, the stock is down 3 percent:

a) the company gave no guidance, though they may say something on the conference call;

b) a calendar change may have been the reason for the beat. There were a number of analysts, including Deutsche Bank and Goldman Sachs, noted that they traded a lower volume week this year (in February) and included a higher volume week (in April). That helped growth by $536mm or 2.9%. According to Deutsche Bank, "We're not sure if HD's comp result is adjusted, but our guess is that it is not, meaning the shift accounted for the sequential improvement in comps."

Adjusted for this calendar shift, same store sales fell 9 to 9.4 percent, according to Goldman.

Bottom line: like Lowe's [LOW Loading... () ] , Home Depot is also experiencing notably weaker sales.

On the conference call, they have been talking about "significant" commodity cost pressures and "relatively weak demand."

2) Staples [SPLS Loading... () ] earnings were in-line. Though Staples also had a decline in comp store sales (down 6 percent), European comp store sales were up 4 percent, they came in in line with estimates and reiterated their full year outlook.

3) Autozone [AZO Loading... () ] beat expectations. Same-store sales were down 0.3 percent, a tad shy of expectations.

4) Lehman [LEH Loading... () ] joining other firms in raising target prices on oil service names like Baker Hughers and Cooper Cameron reflecting, they, say, "a strong recovery in 2008 and 2009 for North American natural gas drilling and substantial growth internationally over the next few years."

5) Barclays [BCS Loading... () ] is considering acquisition of banks including UBS or Lehman Brothers, according to unsourced sources being used at the Daily Telegraph in London. The purchase would be funded by a large rights issue that would also have the purpose of shoring up the balance sheet.