MARKET CURRENTS
real-time news and commentary for investors
MARKET CURRENTS
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Today - Friday, May 25
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8:19 AM Christopher Matthews is the latest to sound the death knell on Best Buy (BBY) and RadioShack (RSH) with a take that delves right into the Death-by-Amazon thesis on the big-box retailers. Though he notes the well-documented competitive pressures the Internet brings down on the companies, it's also the seismic shift in consumer buying trends as integrated devices reduce electronics buying needs that sits as a tough overhang on sales to overcome. Comment!
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8:00 AM Wal-Mart (WMT) says it's seeing good results with a pilot program of small-sized stores called Walmart Express. Execs say the stores are showing profits and the company could roll out hundreds more in the near future. Designed to catch spur-of-the-moment shoppers and small enough to tuck into tight spaces, Walmart Express stores could pose a threat to Walgreen (WAG), CVS Caremark (CVS), and Rite Aid (RAD) in the future. Comment!
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7:51 AM Are regional carriers on the way out? The Cranky Flier blog dissects Delta Air Lines' (DAL) deal to buy 88 717s from Southwest Airlines to draw the conclusion that the carrier will "slash and burn" regional 50-seater flights that it runs under the Chautauqua, Comair, ExpressJet, Pinnacle, and Skywest banners. Not only are the routes to small cities money-losers, but a new union contract with pilots limits the number of small aircraft they will fly. Comment!
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7:20 AM KeyBanc downgrades Lululemon (LULU) to Hold from Buy. Concerns from analysts focus on valuation seen as too pricey in light of a more cautious view on high-end U.S. consumers - bolstered by earnings reports from Ralph Lauren and Tiffany. Shares +55.7% YTD. 1 Comment
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7:14 AM More on Comcast's (CMCSA) bid for MSNBC.com (previous): An exec with NBC News confirms that discussions and due diligence are ongoing in the deal for Comcast to buy out Microsoft's 50% stake in the website. A key point for negotiations centers on MSNBC.com securing strategic placement on the MSN.com website. Comment!
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7:01 AM Heinz (HNZ) sees a pair of analyst downgrades after reporting Q1 results and scaling back its outlook for growth rates, with Jefferies downgrading to Hold and JPMorgan taking its rating down to Neutral. 1 Comment
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6:55 AM Toyota (TM) wants to sell more than 1M subcompact cars in emerging markets by 2015 as it makes a push to boost profits by utilizing local production. The company plans to come out with 8 new low-priced subcompact models to sell in more than 100 countries in order to help it achieve sales goals. Comment!
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6:47 AM Royal Caribbean (RCL) plans to increase its cruises out of China to last all year long and bring another ship to the region amid rising demand. Analysts forecast Chinese tourism revenue will jump 14% annually for the next nine years. Comment!
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