Process up. Theyve been trying to get this turned around over a year now. Ever since the first outbreak in july and all of a sudden last october got a little worse. Spread around, and theyve had a difficult time collecting back those samestore Sales Numbers theyd had. Arent getting that now and trying to figure out the best ways they can. Trying every promotion to get back those valued customers. Thats the problem. Are they doing it at the kind of speed that wall street wants . Obviously not. Bill ackman is the kind of guy to change that, but i dont think it happens immediately either. I think it still takes time and bills a little early. Josh, analysts today say, no quick fix. They say, ackmans eyes are bigger than ace stomach. They says, steval, we cannot fathom mathematic or or investment thesis. What are they missing . I would not go as far to say its a negative, having an activist in the stock. Persian square involved with the stock, but i dont know if its an immediate positive. O
Stays or goes. Brent im brent goff. We start with what appears to be another major migrant tragedy in the mediterranean. Unconfirmed reports say that several hundred people may have lost their lives attempting to reach the European Union by boat from egypt. Germanys foreign minister said it appeared that about 300 people may have drowned. Details are still emerging. The first confirmation of the tragedy came from from the Italian Foreign minister, speaking in luxembourg. This is what he had to say. We are looking for more details and information but what is sure is that we are again with a tragedy in the mediterranean exactly one year after the tragedy we had in the libyan waters one year ago. Brent that was the Italian Foreign minister talking about this new tragedy on the mediterranean. Lets go to our correspondent in luxembourg. What more do we know about this tragedy . What are you hearing from the Foreign Ministers there . Max brent, people here, Foreign Ministers, diplomats, are
Profits for the next couple of years. You know what, it was a take your breath away market. And an incredible announcement. Caused the stock to cascade. Down 10 , losing 21 billion in value. One day. And it woes in turn spilled to the rest on the market. With the dows decline, the s p falling nearly half a percent. What is done and is done though if you own any stocks, involving these stocks you got clobbered. Although the initial and ridiculous over reaction down from netflix, one of my favorite stocks was rectified after. I want to step back and determine whether the reaction to wall hmart and the stock mar was justified. Something we will do when we sit down with the ceo of walmart later in the show. First, should the earnings news have been a surprise . Obviously shocked in wall street, you dont get a stock that much. I know doug will make a case that he telegraphed the earnings, after he talked about paying more and more, and over investing in the stores to restore growth to the F
The rest on the market. With the dows decline, the s p falling nearly half a percent. What is done and is done though if you own any stocks, involving these stocks you got clobbered. Although the initial and ridiculous over reaction down from netflix, one of my favorite stocks was rectified after. I want to step back and determine whether the reaction to walmart and the stock market was justified. Something we will do when we sit down with the ceo of walmart later in the show. First, should the earnings news have been a surprise . Obviously shocked in wall street, you dont get a stock that much. I know doug will make a case that he telegraphed the earnings, after he talked about investing in the stores to restore growth to the Fastest Growing store chain in the land. Before he took the chains in the can, the china was trying to lower merchandise pricing for customers. And ended up cutting the bone of good store management. Wall street fell in love with mcmillan, with the stock going to
Welcome. Lets get straight to some of the big market moves. First up, as we said to you in he headlines, jacob does a u turn and so does the rand. He appointed his second finance minister in four days. Bringing him back so what we saw was the rand jump almost 6. 5 . That is the biggest interday gain since october 2008 and his goes back to last week when fitch had downgraded the countrys debt, really having quite a dramatic impact in terms of the rand. Its about commodities and currency as we go into this fed week. This is west texas intermediate, sifpks to the lowest level in seven years, iran pledging more oil for the market. This is the performance over the past month. I can tell you 11 of this decline was implemented last week by the market. There is absolutely no chance that iran will decrease the plan in shipments. Traders, data, this is how we benchmark how negative the traders are there, the most bear issue ever. Ets get the bloomberg first trade. The latest data out of china ho