Recent Articles
Borders Backs Away from the Brink (BGP, BAC, WFC, JPM, GE, GAP)
After the markets closed yesterday, bookseller Borders Group, Inc. (BGP) announced its fourth quarter 2009 and full year earnings. The company reported EPS of $0.91 for the quarter on revenue of $946.5 million. Earnings were double the same period a year ago, while revenues were 13% lower. Same-store sales were off 14% at Borders stores and 8.5% at the group's Waldenbooks stores.
Rite Aid RAD Suffers an Earnings Headache
Drug store chain Rite Aid Corp. (RAD) reported fourth quarter and full 2010 fiscal year earnings today, and the numbers were softer than expected. The company's EPS lost -$0.24, compared with consensus estimates of -$0.20. Revenue came in at $6.46 billion, barely lower than estimates of $6.47 billion.
March ADP Payroll Report Not So Rosy
The March report from Automatic Data Processing Inc. (ADP) shows that private employers in the U.S. cut 23,000 jobs in the month of March. In February, ADP reported 24,000 job losses. In December 2009, private employers eliminated 84,000 jobs. So things are getting worse more slowly, or improving somewhate, depending on your point of view.
Citigroup (C) Getting Its Balance Sheet in Order
Among the first steps that Sandy Weill took as he began building Citigroup, Inc. (C) was the purchase of insurance company Primerica. Tonight, the financial services giant will price an 18-million share spin-off of Primerica, expected to be in the range of $12-$14/share. The spin-off is expected to generate about $250 million for Citi, with another 2.7 million shares available if demand is strong.
How Good is the News on Housing Prices?
The S&P Case Shiller index of housing prices rose 0.3% in January on a seasonally adjusted basis. On an unadjusted basis, which does not include data on foreclosures, the index fell 0.4%. The decline in the unadjusted price is double analysts' expectations of a 0.2% decline.

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