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

TRADER TALK VIDEO GALLERY

» More

Current DateTime: 04:37:48 16 Nov 2009
LinksList Documentid: 30483322
Expiration DateTime: 11/16/2009 4:39:22 AM

TRADER TALK RSS FEED

» Help

Current DateTime: 04:37:48 16 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
Nov.17
9:03 AM ET
Monday, 17 Nov 2008
Obama: Traders Liked What They Heard Last Night

All through the day Friday, traders voiced little fear that the G-20 would issue any statement of real substance, and they were right: little of substance came out of the G-20 meeting.

There was more talk on trading desks this morning about Obama's long appearance on "60 Minutes" last night; the reviews have been very positive.

More substantive is the talk of an automotive bailout; GM [GM  Loading...      ()   ] trading up about 5 percent pre-open. The House and Senate will be debating an interim financing solution this week, until the new administration takes control in late January.

Elsewhere:

1) Japan is officially in recession after Q3 GDP contracted 0.1 percent; that country joins Hong Kong, Germany, and Italy.

2) Lowe's [LOW  Loading...      ()   ]cut its outlook. While third quarter earnings beat estimates, like other retailers that reported last week, fourth quarter estimates are notably weaker but also the guidance is very wide: a) total sales range from a decline of 3 percent to an increase of 2 percent, b) comparable store sales to decline 5 to 10 percent, and c) diluted earnings per share of $0.08 to $0.16 (analyst estimate $0.18).

CEO Robert Niblock said, "we saw a decline in sales trends in the last week of October that continued into November as the overall economic outlook deteriorated."

3) Target [TGT  Loading...      ()   ] also beat, but provided no guidance. They are temporarily suspending their share buyback program, and is reducing 2009 capital expenditures, credit card profitability fell by more than 80 percent,

4) Genworth [GNW  Loading...      ()   ] shares are up nearly 35 percent pre-open, as they announced they would buy a small Minnesota bank (Interbank FSB) plans to file for savings and loan status, following the announcement from Hartford. It's a move out of necessity: they need access to the TARP. Genworth in particular has been pounded over concerns about debt that is coming due next year. Hartford will buy Florida-based Federal Trust Corp (FDTR), a thrift, for $10 million ($1 a share).

5) Las Vegas Sands [LVS  Loading...      ()   ]trading up 6 percent pre-open as the company's independent accountants, PricewaterhouseCoopers, say they no longer have doubt about the company's ability as a going concern, based on the recent $2.1 billion capital raise.

Buy, Sell, Hold?

_____________________________
New from CNBC.com:

- The Dow 30 at a Glance

_____________________________

_______________________________________
CNBC's Names in the News:

Citigroup [C  Loading...      ()   ]

UBS [UBS  Loading...      ()   ]

_______________________________________


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: 01:43:39 16 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:38:25 16 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:38:26 16 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:38:26 16 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