This news hit the wires this morning. At first glance, these results appear worse than WalMart's results reported yesterday. I wonder what Cramer has to say now. The quote from the Target CEO seems quite accurate and appropriate. These CEOs only have so much room to move in the space they are in and the cost structure in the US has gone from too high to way way too high to support these businesses. These CEOs are doing a fabulous job to be able to make any kind of profit.
Target Profit Halves as Rising Costs Hit Margins, Shares Slide 24%
U.S. News & World Report
By Aishwarya Venugopal and Uday Sampath Kumar
(Reuters) -Target Corp's quarterly profit halved and it warned of a bigger margin hit on Wednesday due to rising fuel and freight costs, in a clear sign there would be no immediate relief for U.S. retailers from surging inflation.
Shares tumbled 24% following the bleak results that came a day after larger rival Walmart Inc cut its annual profit view and its shares logged their worst day since 1987, though both retailers clocked better-than-expected quarterly sales.
"We were less profitable than we expected to be or intend to be over time," Target Chief Executive Brian Cornell said.
"These (costs) continue to grow almost on a daily basis and there is no sign right now...that it is going to abate over time."
Only to be bitten by a snake.
Twitter's board says it plans to enforce its $44 billion buyout deal with Elon Musk.
My offer was based on Twitter's SEC filings being accurate.
Bots matter.
As if a man did flee from a lion, and a bear met him; or went into the house, and leaned his hand on the wall, and a serpent bit him.
thread: amos
What they miss is 6 used to do what 3 are as we integrate 1 that does the work of ten developed over 40 years in real time.
The DXY, or U.S. Dollar Index, is a measure of the value of the U.S. Dollar, relative to a basket of six other foreign currencies,
and is maintained by the Intercontinental Exchange Inc. (ICE).
Assets are moving relative to private compared to public.
M has decent view to exposures which is correct.
What do you want 5 years from now. The rest is the wasting as warned.
What they want from you in 5 years is clear.
Like everything and everyone else, I'm just guessing here in the day by day to month by month stuff, but I see one last bounce.
As you all know my prediction was always the bigger of the kahunas happen Q1-2 2023. There's a chance we get a bounce by the end of summer and then in Sept-Oct of this year a bombastic blast from the past, as has happened in election cycles before, though the last time it was a presidential one.
Cool Breeze wrote: Wed May 18, 2022 6:29 pm
Like everything and everyone else, I'm just guessing here in the day by day to month by month stuff, but I see one last bounce.
As you all know my prediction was always the bigger of the kahunas happen Q1-2 2023. There's a chance we get a bounce by the end of summer and then in Sept-Oct of this year a bombastic blast from the past, as has happened in election cycles before, though the last time it was a presidential one.
Jeremy Grantham says that after the peak it is not that people turn negative, they are "just a little bit less euphoric" than the top.
If I look at the markets today, I think "a little less euphoric" applies. I think we are on the way down. No more "melt up" or "short squeeze" of any real size.