Nasdaq also dipped 3. 2 . First let me just say the single biggest buzz on wall street today, the most salient gut wrenching story is this shocking decline in the business in the stock of the iconic retailer that is macys. While few people actually expected macys to do well in an environment where the globe seems to be warming right in front of our very eyes, todays sharp selloff on some really bad earnings kind of took our breaths collectively away. As the chairman and ceo said at the very beginning of his really i think very disconcerting Conference Call, we had a very tough quarter. We are clearly disappointed with the 3. 6 decline in Comp Store Sales of owned andndicensed businesses. And the 8 drop in earnings per share. We believe thathe retail industrys going through a tough period that we seem to experience Something Like this every five to seven years or so. And this one feels familiar in that regard. Aha. Heres the rub. It may feel familiar in terms of the magnitude of the d d
Today, the most salient gut wrenching story is this shocking decline in the business in the stock of the iconic retailer that is macys. While few people actually expected macys to do well in an environment where the globe seems to be warming right in front of our very eyes, todays sharp selloff on some really bad earnings kind of took our breaths collectively away. As the chairman and ceo said at the very beginning of his really i think very disconcerting Conference Call, we had a very tough quarter. We are clearly disappointed with the 3. 6 decline in Comp Store Sales of owned and licensed businesses. And the 8 drop in earnings per share. We believe that the retail industrys going through a tough period that we seem to experience Something Like this every five to seven years or so. And this one feels familiar in that regard. Aha. Heres the rub. It may feel familiar in terms of the magnitude of the decline to mr. Lundgren, but it isnt familiar when it comes to the reasons for the dropo
Ten year right around 1. 9. China trade was amiss and uk inflation at a 14 year low. Stocks pointing higher as earnings begin to roll out. Different story for oil fall to go merely a six year low as opec says it will not change its drought put strategy. And speaking of earning, alcoa did top expectations. What the ceo has to say about their Fourth Quarter results. Plus why Credit Suisse thinks iphone sales could drift stock to 130. But stocks look to end a two session losing streak. Oil back down below 45. Oil minister defending opecs decision into the tonot to reduce output. Brent around 45 as well. It was said its not about whether the price hike will come, its about more the timing. All i can tell you is that other countries and other continents are starting to react positively. Getting better feel from china. Europe were hearing Better Things because of the oil tee decline. India were starting to get a good read. The calvary is beginning to come from this low oil whereas we have ob
Alison news of weinsteins death is certainly heartbreaking for his neighbors in rockville who wrapped yellow ribbons around trees generating hope for his return. Kevin lewis continues our Team Coverage from rockville now. Kevin . Kevin hi there alison. Weinsteins wife eileen received a phone call from president barack obama yesterday. The president expressing his sincere sorrow and apology. No sign of the family at the home today. But loved ones have been stopping by all morning and afternoon. Many have left flowers below a large maple tree in the front yard. One individual left a loaf of bread on the front doorstep. Weinstein is a native of brooklyn new york. Back in 1977 he moved to the washington area. His wife eileen and two daughters, they lived here in rockville but weinstein spent most of his time working abroad. He lived through an earthquake in Central America and navigated his way out of africa. In 2004, a consulting job sent him to pakistan where alqaida operatives caught hi
Could yet to be reported. Kellye footage of freddie gray s arrest taken by bystanders but none of the video appears to show how he was injured. That is prompting Maryland Governor larry hogan to sign a new law, clearing the way for wide use of police body cameras. It exempts maryland from the twoparty consent for audio recording. There will be a commission to set best practices. A stun gun is being shelved at the Fairfax County jail. The move is considered temporary while the Department Investigates the death of a 37yearold woman after she was stunnednd killed during an altercation with guards in february. A Longtime Senate aide is facing drug charges. Fred pagan is an aid to thad cochran of mississippi. He is accused of having and attempting to distribute methamphetamine. Last year, pig and earned 160,000 as the top pagan earned 160,000 as the top assistant and administrator. A judge ruled that the Charles Severance trial will move to fairfax. Severance is charged with killing nancy d