Market Strangeways
Todays broad based triple digit surge to the upside ignored some grim news that could be found by reading between the lines...
Ford Motor down 1.6% after posting a quarterly loss of $5.8 B, its largest loss in 14 years, as restructuring charges related to planned job cuts in North America and declining sales of its trucks hampered results.
Wal-Mart up 3.5% after announcing their strategy going forward will significantly reduce capital expenditures to drive overall returns. Wal-Mart said it will cut its capital spending growth rate to 2% to 4% in fiscal 2008, down from 15% to 20% expected for 2007.
Ford Motor down 1.6% after posting a quarterly loss of $5.8 B, its largest loss in 14 years, as restructuring charges related to planned job cuts in North America and declining sales of its trucks hampered results.
Wal-Mart up 3.5% after announcing their strategy going forward will significantly reduce capital expenditures to drive overall returns. Wal-Mart said it will cut its capital spending growth rate to 2% to 4% in fiscal 2008, down from 15% to 20% expected for 2007.
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