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Even Wal-Mart can't keep up its streak of usually better-than-expected or in line sales numbers, reporting that its same-store sales figures for December rose of 1.7 percent, sharply missing expectations. The discount retailer also says that it expects its fourth-quarter profit to fall between $0.91 to $0.94, also below estimates.
Quote: WMT

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Obama Presses Economic Recovery Plan

posted: 15 MINUTES AGOcomments: 0

filed under: Financial Crisis

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Making another pitch for a huge economic stimulus plan, President-elect Barack Obama says "a bad situation could become dramatically worse" unless Congress takes immediate action. Obama's comments come in a speech set to be delivered later today, but excerpts have already been released.

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posted: 29 DAYS 19 HOURS AGO

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Macy's Said Planning to Close 10 Stores

posted: 39 MINUTES AGOcomments: 0

Following what could be the worst holiday shopping season for retailers in nearly four decades, the Wall Street Journal reports that department store operator Macy's will announce the closure of 10 locations. Quote: M

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Microsoft Touts Windows 7 at CES

posted: 41 MINUTES AGOcomments: 0

filed under: Tech News

Microsoft CEO Steve Ballmer promises to deliver a nearly final "beta" test version of Windows 7 that regular PC users will be able to download and tinker with Friday. Its one of the first announcements expected from technology companies big and small as the 2009 Consumer Electronics Show gets started in Vegas. Quote: MSFT
24/7 Wall St.: With New Windows, Microsoft Takes Another Wrong Step?
More CES Coverage: Engadget | Switched.com

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Warnings Suggest Ugly Earnings Season

posted: 37 MINUTES AGOcomments: 0

filed under: Earnings, Financial Crisis

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A trio of earnings warnings from some of Wall Street's top companies Wednesday threw a wet blanket on the optimism that had buoyed the markets since before the start of this year. Will the dour outlooks echo through the rest of the business world?

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Prosecutors Tug on Madoff's Reins

posted: 11 HOURS 32 MINUTES AGOcomments: 0

filed under: Madoff

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Though initially amenable to a bail deal for former Nasdaq chairman Bernard Madoff, federal prosecutors now continue to push for the disgraced financier's jailing pending his trial, suggesting a breakdown in Madoff's cooperation with authorities.

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