Macy’s Inc. (M – Analyst Report) again disappointed investors by posting lower-than-expected results for the second straight quarter in fiscal 2015 that compelled management to lower sales projection. The second quarter earnings of 64 cents a share fell short of the Zacks Consensus Estimate of 75 cents, and declined 20% from 80 cents delivered in…
“Caution in handling ‘generally accepted opinions’ that claim to explain whole trends of history is especially important for the historian of modern times, because the last century has produced an abundance of ideologies that pretend to be keys to history but are actually nothing but desperate efforts to escape responsibility.” Hannah Arendt, The Origins of Totalitarianism…
Asian and European equities took a beating today. The Shanghai Composite fell 1%, but the Euro STOXX 50 plunged 3.35%. US equity indexes appeared to be following suit at the open. The S&P 500 did a quick nosedive and hit its -1.53% intraday low less than an hour later. The buyers then returned, and the…
Anyone who has been a landlord knows there’s nothing worse than having a deadbeat tenant. You always wonder when or if the rent will be paid. It’s miserable and rarely profitable. Now… imagine having a renter who is all but guaranteed to pay on time. That’s practically the case with Government Properties Income Trust (NYSE: GOV). The real…
US equity markets were in a swoon as China devalued their currency again last night, and suggested that an ultimate target of 10% might be the thing to do. Most of the commentary is just hapless and directionless. China’s export strategy is failing, so they are trying to do other things. And why is it…
Cisco Systems, Inc. (NASDAQ:CSCO) Systems released its latest earnings report after closing bell tonight, posting adjusted earnings of 59 cents per share on $12.84 billion in revenue, a 4% year over year increase. Analysts had been looking for earnings of 56 cents per share on $12.66 billion in revenue. In last year’s fourth fiscal quarter, Cisco…
SILVER: With the commodity continuing to hold on to its bullish offensive following its recovery triggered off the 14.38 level, further price extension is envisaged. Resistance resides at the 15.70 level where a break will turn attention to the 15.90 level. A cut through here will open the door for a move higher towards the…
A month ago China’s stock bubble was bursting and Greece was imploding. Yet the US Fed, in a violation of both headline sentiment and common sense, was still promising to raise interest rates come September. Fast forward to this week. China’s surprise currency devaluation has sent the global markets into a tailspin, but rather than spiking on…
During six months of protracted and terribly fraught negotiations between Athens, Berlin, Brussels, and the IMF, the idea that Spain, Italy, and Ireland somehow represented austerity “success stories” was frequently trotted out as the rationale behind demanding that Greece embark on a deeper fiscal retrenchment despite the fact that the country is mired in recession….
On CNBC’s Futures Now, Peter Schiff shared his take on the Chinese devaluation of the yuan and how it affected the price of gold. Once again, Peter reminded us that gold may not have moved up very much in terms of the US dollar, but in the Chinese currency the yellow metal rose significantly. While the…
