Diamonds and Dogs
December 26, 2008Monday, December 22nd, 2008
Times sure have changed!! Fedex Corp (FDX), who won't advertise in the Super Bowl 43 for the first time in 12 years, reaffirmed its full-year profit guidance of $3.50 to $4.75 a share after reducing their workforces. The courier barely beat expectations, but it's cutting costs to survive in tough times. FDX just slashed average compensation by an unbelievable 45% and some bonuses may be down as much as 80%. Good time to call a time out Mr. Pacheco!
Darden Restaurants Inc. (DRI) takes some hits. The operator of Red Lobster, Olive Garden, Longhorn Steakhouse and other restaurants lowered its future '09 outlook on comparable sales to -2 to -4% (it was zero to minus 2, earlier). It's expecting in same-store sales to fall between 1.25 percent and 2.25 percent in fiscal 2009. At the dead lows DRI hit $13.21. Consumers reduce spending habits in this tough economy.
Tuesday, December 23rd, 2008
Toned and ready! Lululemon Athletica (LULU), the Canadian company that went public about 2 years ago, is worth around $500 million. The yoga-inspired athletic apparel company's stock most recently traded at $7.80. Lululemon reported third-quarter net income of $8.83 million or $0.13 per share, compared to $7.57 million or $0.11 per share last year. A growing story!
When you care enough to send the very best?!? American Greetings (AM) shares fell to an all-time low today ($3.42, or 34.8 percent, to close at $6.40) after the greeting card company reported a loss in its 3rd quarter due to higher charges and lower sales. AM reported a loss of $193.3 million, or a loss of $4.25 per share, compared with a profit of $29 million, or 52 cents per share, last year. Season's Greetings!!!
Wednesday, December 24th, 2008
Christmas Eve sparkles for Wal-Mart (WMT)& The world's largest retailer's shares rose 15 cents or 0.3 percent, to $55.44. WMT and attorneys for the plaintiffs jointly announced the settlement of 63 wage and hour class action lawsuits that have been pending against the company for several years. Apparently, the final amount that will be paid out will depend on the claims submitted for a minimum of $352 million and maximum of $640 million. Wow, that's BIG money!!
Merrier times for Sirius XM Radio Inc. (SIRI)! The commercial-free satellite radio company has about $1 billion in debt due to mature in 2009, with the first portion due in February. Shares of Sirius fell 1.58% to 11 cents mid-day. This company is trying&
Thursday, December 25th, 2008
Warm wishes for the Holiday Season from all of us at Leigh Baldwin & Company!!!
Friday, December 26, 2008
Best year ever for Amazon (AMZN)!!! The retailer said their top-sellers were Microsoft Office Home and Student 2007, Apple iPods, Acer Netbooks, DVDs, music and their best-seller was the Nintendo Wii. "Amazon customers ordered more than 6.3 million items on Dec. 15, compared with roughly 5.4 million on its peak day last year, the company said. It shipped more than 5.6 million products on its best day, a 44 percent surge over 2007, when it shipped about 3.9 million on its busiest day." AMZN stock rose 2.1% and saw a 17% increase in orders on its busiest day. Cheers to that!
Let's leave it at that& No stock market dogs today!!! Have a wonderful Holiday weekend, travel safe & best wishes for the New Year.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.