Whats next for the markets and your money. And microsoft man. Could the boss at ford be the right person to turn around microsoft . We have all of that and more tonight on nightly Business Report for friday, september 27th. Good evening, everyone. Its cleanup in aisle 6. Thats because it has been a mess of a week for the retailer, jcpenney. Worst week ever for its shares, down 30 . The Department Store has prospered for more than a century, through the great depression, to world wars, the Online Shopping revolution, but now penneys is in a fight to survive. Samestore sales down eight quarters in a row. A savior brought in and then kicked out. His turnaround plan an unmitigated flop. Then a new boss, the old boss, and yesterday a plan to save cash so they can get through the holidays and into next year. Still, the company is resolute, launching new boutique shops within its stores today. Court reagan has more. Reporter its been a long week for jcpenney shareholders. The beleaguered Depa
Europe doing okay. The greek tenure yield is down and the market up for the fourth straight session. Dow components ibm and alcoa. Ibm downgraded today by goldman. Kicks off earnings season with a beat. B n ceo resigning. The latest on the Asiana Airline crash in San Francisco as investigators try to piece together what happened in the cockpit. A live report from the scene. First up, shares of ibm falling in the premarket, downgraded by goldman to neutral from buy saying it sees pressure on the Growth Markets and Revenue Streams. Interesting note, guys, they say the whole reason to add ibm to the buy list back in august of 2011 was some of these higher Revenue Streams to sort of smooth out the cycle over time. They think thats now coming in to what theyre calling a challenging period. And say that the quarter will bring more volatility than investigators are accustomed to. Hasnt really paid off for goldman as a bet since adding it to the buy. Ibm up 16 . S p up 39 . Wow. See if that se
Objective. Cutting back Financial Aid to the troubled nation. Adam we want to check in with Nicole Petallides. Nicole so far, so good. Here we are sitting at 15,307. We are looking out five of the six trading days. It shows you that the run has been a good one. The tech heavy nasdaq, the tech really glad yesterday. A couple of pieces of news that we did get, talking about customers being a little more scarce than they had hoped, we saw the imf cut its global gdp forecast. They are saddling it. Whether or not they may be looking at fedex. Adam thank you very much. See you in 15 minutes. The fdic is proposing a raise to the Bank Leverage ratio to 5 . That is higher than that 3 level required. They all have a 6 leverage ratio. These rules go into a fact in 18. Lauren let talk about Small Business. A couple surveys to talk about today. The semi annual bank of America Business report is a little upbeat. Welcome, robb. Great to see you. Great to be here. Lauren more than half expect revenue
They do things for noneconomic reasons. Somebody said in europe, they dont care about theyre going to keep europe together. The u. S. , i think entitlement reform is serious. I think they have a couple weeks to work this out. Barry, thank you so much. Its been a pleasure talking to you today. Thank you. That does it for us today. Make sure you join us tomorrow. Right now its time for squawk on the street. Good morning. Welcome to squawk on the street. Im melissa lee, along with carl quintanilla, jim cramer and david faber at the New York Stock Exchange. The new home price reports were just released. S ps David Blitzer will join us to break these numbers down moments from now. Lets get a check on futures. And how we are setting up, this after the s p ended its eightday rally. It managed to hold above the 1,500 mark in yesterdays session. The dow looking to lose about nine. Confidence numbers are on tap at 10 00. Italian field auction, selling bills at the lowest yields since march 2010.