Yahoo’s board of directors is discussing whether to sell its “core business,” otherwise known as the parts of the company that aren’t stakes in Alibaba or Yahoo Japan, and are currently valued at less than nothing by investors. Per the Wall Street Journal, which broke the story (paywall):
Brazil just dropped its latest batch of GDP numbers, and they point to a deepening recession.
This post has been corrected.
In the US economy, which really depends on the consumption of stuff, there’s too much stuff.
[Note: These quotes were taken directly from transcripts collected by FactSet. The words are real, but the conversation depicted is not.]
Switzerland has released its latest trade figures, and in October it generated a record 4.2 billion franc ($4.2 billion) surplus.
Brazil’s economy continues to deteriorate.
Here we go again. The Federal Reserve just released the minutes from its October policy meeting.
Lowe’s, like its home improvement rival Home Depot, had a pretty good quarter. It posted income of $736 million on $14.6 billion in revenue, both measures beating expectations and improving from the same time last year.
Home Depot reported earnings this morning, and they were actually pretty good. The company posted $1.7 billion in profits on $21.9 billion in revenue, and both figures beat expectations. Unlike some of its department store counterparts, the hardware chain seems to have kept its year-end guidance intact. The company’s shares fell about 3% in early trading.
Urban Outfitters is facing some serious challenges. Sales are slowing at its main group of namesake stores, and until today its stock was down 30% for the year after being up as much as 34%.
The world’s third-largest economy has been spending more time shrinking than growing these days.
Mutiple media outlets, including Reuters and CNN, are reporting that France has responded to the Nov. 13 attacks in Paris by bombing Raqqa, Syria on Sunday (Nov. 15). The country dropped 20 bombs on the city using a dozen aircraft. The city is symbolically and strategically significant because it is the self-proclaimed capital of the so-called Islamic State or ISIL, which claimed responsibility for the attacks that killed at least 130 people.
India has joined a global cast of countries expressing monumental support for Paris following the Nov. 13 terrorist attacks that have killed nearly 130 people and left hundreds more injured. The Chhatrapati Shivaji train station in Mumbai, which was the site of its own deadly attacks in 2008, was illuminated with the tri-colors of the French flag, as the Washington Post noted.
Multiple media outlets, including the Associated Press and France24, are reporting that French authorities have begun a manhunt for a suspected attacker in the Nov. 13 killings in Paris. Per the AP:
The French authorities, families and foreign ministries across the globe have almost completed the heart-wrenching process of identifying the victims killed in Friday’s Paris attacks. Of the 129 confirmed dead, at least 25 were foreign nationals.
While retailers everywhere, including Macy’s and Nordstrom, reported suffering a rubbish third quarter, Fossil was experiencing the same.
Nordstrom earnings last night were bad. Very bad. When flummoxed analysts asked what happened, co-president Blake Nordstrom had trouble explaining it himself.
Yesterday (Nov. 11), Macy’s was the one throwing in the towel on 2015, cutting its year-end guidance before the holiday shopping season even starts. Today it was Nordstrom’s turn.
The glut is going nowhere.
The great Russian recession of 2015 is showing some signs of easing.
Squeeze ’em if you got ’em.
