Thu, May 17, 2012, 3:32 AM SGT - Singapore Markets open in 5 hrs 28 mins

Daily Ticker
  • Follow The Daily Ticker on Facebook!

    J.C. Penney (JCP) shares tumbled Wednesday after the retailer reported a much wider-than-expected first-quarter loss, suspended its dividend and saw weakness across all core metrics.

    In an apparent rebuke to new CEO Ron Johnson's strategy to change the company's focus from discounts to everyday low prices, total sales fell 20% while same-store sales declined 19% and gross margins fell to 37.6% from 40.5% as foot traffic in the stores dropped 10%.

    "Our marketing isn't doing the work," Johnson said in a conference call. "We've got to get our pricing across. Coupons were a drug, they really drove traffic. [Customers] need to understand the value we're offering."

    But it's Johnson, not J.C. Penney's customers, who has a problem understanding what the retailer needs, says Howard Davidowitz, a veteran retail banker and CEO of Davidowitz & Associates.

    "He's caused incalculable damage," Davidowitz says of Johnson, who joined J.C. Penney last year after

    Read More »
  • Yahoo! Finance to stream LIVE coverage of the Facebook IPO Friday starting at 10:30 am. WATCH IT LIVE HERE!

    Demand for Facebook (FB) shares is heating up ahead of its initial public offering, which is expected to take place Friday. The company announced Wednesday it is offering 25 percent more shares for investors to purchase. Facebook is now set to sell 421.3 million shares, up from 337.4 million, at a price target of $34 to $38 a share. Facebook's IPO could ultimately lead to a valuation of more than $100 billion.

    But as investors clamor to own a part of the hottest tech company since Google (GOOG), there are some dark clouds surrounding the company. Two big ones include ad sales and privacy concerns for users.

    Facebook Road Block: Privacy

    The vast majority of Facebook users don't trust it. While Facebook's growth has exploded to more than 900 million users worldwide, 59 percent of users have little to no trust in the company to keep their information private, according a recent

    Read More »
  • Follow The Daily Ticker on Facebook!

    Americans have a lot of questions about the housing market. Has the housing market bottomed? When will home prices start rising? Should I buy or rent? Jack Otter, executive producer of CBS MoneyWatch, explores some of these questions in his new book "Worth It…Not Worth It?" The real estate market presents a conundrum for many Americans looking to sell their homes or become a first-time homeowner. A recent study by The Demand Institute, a division of the Conference Board, found that many Americans, despite having been financially hurt from the housing market crash, still have a strong desire to buy a home. The survey revealed that more than 80 percent of Americans thought buying a home remained the best long-term investment they could make -- even though home prices in February were near October 2002 lows. In an interview with The Daily Ticker, Otter lists the common scenarios facing homeowners and gives his smartest recommendations.

    Buying versus

    Read More »
  • Follow The Daily Ticker on Facebook!

    Earlier this month, Harvard Professor Martin Feldstein generated some headlines after declaring on Bloomberg TV "that this is a bubble in the stock market created by low long-term interest rates that the Fed has engineered."

    Two weeks later, "a lot of air has come out of the stock market" and Feldstein sees more 'deflation' ahead for one main reason: The Fed is unlikely to do another round of quantitative easing.

    While two rounds of QE and Operation Twist have had the desired result -- lower bond yields and a revival of equity prices -- the Fed's actions are "not really moving actual economic activity," Feldstein notes. "Having tried it twice and not succeeded, it's not clear there's any reason for them to do it again."

    The former head of Ronald Reagan's Council of Economic Advisers says Ben Bernanke is right that the onus is on fiscal policymakers now. While he wishes otherwise, Feldstein has little faith Congress will tackle the looming 'fiscal

    Read More »
  • Follow The Daily Ticker on Facebook!

    The fallout from JPMorgan Chase's $2 billion trading loss continues. Following yesterday's departure of three high-ranking execs, including CIO Ina Drew, the focus is now shifting to the firm's chairman and CEO Jamie Dimon.

    At Tuesday's annual shareholder meeting in Tampa, there was a proposal on the ballot to strip Dimon of his chairmanship. The measure failed, as was widely expected, and shareholders reaffirmed Dimon's $23 million 2011 pay package.

    But the ballot is noteworthy because it received 40% of the vote and comes as outside observers, including MIT's Simon Johnson and Currency Wars author James Rickards, have called for Dimon's resignation.

    Speaking to shareholders, Dimon reiterated that the trading loss, which has reenergized the debate over bank regulation, was "self-inflicted."

    Dimon's vocal opposition to many of the new regulations, most notably the Volcker rule, has animated those on the other side of the debate. Lawmakers in both

    Read More »

Pagination

(466 Stories)

Editors' Picks

Follow Daily Ticker

The Daily Ticker covers the most important business stories of the day -- the economy, investing, corporate leadership and politics. The Daily Ticker picks up where Tech Ticker left off and is hosted by Aaron Task, Henry Blodget and Daniel Gross. Often serious, sometimes irreverent and always interesting, The Daily Ticker gives viewers a unique take on the business world's most crucial stories.

Subscribe and RSS

[X]

How to subscribe

Roll over each section to subscribe using Add to My Yahoo! or RSS Feed feeds.

Yahoo! News offers dozens of RSS feeds you can read on My Yahoo! or using a third-party RSS news reader software. Click here to find out more about RSS and how you can use it with Yahoo! News.
 
Recent Quotes
Symbol Price Change % Chg 
35.59 -0.19 -0.53%
NU
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.