Our road map begins with the markets taking a dive overnight. Dow off triple digits as the stock moves overseas. Disappointing data weighs on equities in the u. S. Earnings from ge honeywell and American Express have those stocks moving as well as another round of job cuts from schlumberger. Verizon announcing its breaking up the cable bundle into smaller bundles. The new tv offer weve got to explain coming up. Futures moving lower. Taking their cue from declines in europe. Here in the states Consumer Prices up 0. 2 due to Higher Energy cost. The core rate up 0. 2. Few things working against the bulls. We mentioned that crackdown on margin lending, the back and forth between greece and germany continues. Few downgrades today. Several Revenue Misses on large caps, as well. Seems to be a number of things rattling traders, including what was a glitch in the bloomberg system overnight delayed a uk bond sale. Never good news when you have a bad behind what happened in china and worries over
Us from around the world, welcome. We have full coverage of the stocks and stories making headlines today. Peter cook looks at whats on the agenda at the Senate Democrats annual retreat. And we will have the latest on its doorsorts to open to global trade. We begin with matt miller and plan toon cbs cvss stop selling tobacco. Quick this is really huge news from cvs. It is the First National chain to stop selling Tobacco Products across the board. Focus in on what it means for the shareholders and the bottom line. About 2it will lose million in annual sales from tobacco customers. That is not clear if it is alsot to macro sales, or the indirect sales of things like magazines and sodas that smokers tick up when they come in pick up when they come into by cigarettes. Shareholders dont seem very bothered. After an initial drop to less than 65, the stock recovered to about 70. Only losing about 1 10 of one percent. Add up tollion does about three percent of total sales for cvs. Merlot, said
We just experience. It is. We have seen three times as much snow on average. All of it has a huge Economic Impact especially on the airline industry. In january, we saw an incredibly number incredible number. We have seen an Economic Impact sales figures were impacted in january due to the cold weather. Impact on people going out and shopping for cars. His shadow. Il saw this is obviously happening. Weekend . E expect this will it continue like this throughout february . Serious, real data. I would like to think i am more accurate than the groundhog. We are looking at a long winter so far at least this week. The first week of february, three storms in one week. One came conveniently after the super bowl, was fans are happy about. That one that canceled 2000 fights on monday when people were trying to get back. Another one today and it possibility of a third storm on sunday. Predictions have been all over the place. It is still a few days away so it is difficult to call. I do not want t
Did rise 28,000 and europe remains in another tight premarket range today. Our road map with another tough day in retail. Challenges continue at sears and best buy. Both brands declare a bare market Consumer Electronics. Apple the new weather. And internet ipo jd. Com pr e prices in the range. What it means for alibaba, the market, feature of ecommerce. Can we maintain yesterdays rally. Positive data from china but claims elevated. And one very steamed darden investor, starboard, launches a fight for the entire board of directors at darden, all of it or much boiling down to the sale of re red lobster announced last week. Best buy first up reporting better than expected operating profits of 33 cents a share in the First Quarter. Revenue and comp sales did miss. The company says it expects to see ongoing industrywide sales declines in many Consumer Electronics categories. Sears posting weaker sales, First Quarter losses came in wider than expected. The best buy story, though, is marginal
U. S. , the entire manufacturing at 8 30. 9 15, industrial. Acity utilization it has morphed over the years. Everybody still looks at it. University of Michigan Confidence at 9 55. Estee lauder reports today. 100 anniversary of the opening of the panama canal. Was like the summer book. Summer reading book. 20 or zero. On the panama now . On the panama canal . Teddy roosevelt and the urgency of getting it through. They touch on it in a biography. Lets get the data check. Futures up 5. What a nice close. Yields go lower. Dipping below 2. 4 . Nymex crude at 94 at one point. American oil, the big showing see,equity in place and 12. 42. I put gold in there because it is doing nothing. This is europe. We will talk to gideon rose about this at length in the next hour. This is 30 years ago. This is really nice. What a churn here at 4 . Ben bernanke would call this a hockey stick. Is it a japanese hockey stick or i dont know what that is. It is a move down. This is the italian 10 year yield. Wh