WalMart & Goldman Sachs
Wal-Mart cut its fiscal year 2009 capital expenditures forecast down to $13.0 to $14.0 billion,
from $13.5 billion to $15.2 billion, citing the company's ability to grow "more efficiently with reduced capital expenditures."
Goldman Sachs reports Q2 earnings that easily top expectations, under the sheets... net income -11%, revenue -7.5%; fixed income revenue -29%.
Meanwhile... Goldman analysts said U.S. banks may need to raise $65 billion in additional capital as losses and writedowns continue into the first quarter of 2009.
Declining home prices, expected to continue falling through the year, are driving the deterioration in the credit markets.
Richard Campagna, portfolio manager at Provident Investment Counsel:
"The growth in the market is going to be in companies that increase the supply of materials and commodities,
and the area that's going to struggle is going to be financials because they're going to go through this long period of deleveraging.
I don't see that changing for the next bunch of years."
from $13.5 billion to $15.2 billion, citing the company's ability to grow "more efficiently with reduced capital expenditures."
Goldman Sachs reports Q2 earnings that easily top expectations, under the sheets... net income -11%, revenue -7.5%; fixed income revenue -29%.
Meanwhile... Goldman analysts said U.S. banks may need to raise $65 billion in additional capital as losses and writedowns continue into the first quarter of 2009.
Declining home prices, expected to continue falling through the year, are driving the deterioration in the credit markets.
Richard Campagna, portfolio manager at Provident Investment Counsel:
"The growth in the market is going to be in companies that increase the supply of materials and commodities,
and the area that's going to struggle is going to be financials because they're going to go through this long period of deleveraging.
I don't see that changing for the next bunch of years."
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