Stocks head for 3rd day of declines on 3rd day of radical left's romp

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11/9/12, “Stocks head for third day of declines,” CNN

“U.S. stock futures were lower Friday, as disappointing corporate results weighed on sentiment, setting the market up for a third straight day of declines.

J.C. Penney (JCP, Fortune 500) reported a much bigger than expected loss, sending its shares tumbling more than 8% in premarket trading. The company lost 93 cents a share excluding special items, while analysts surveyed by Thomson Reuters were forecasting a loss of only 7 cents. Sales also fell short of forecasts. It marked the third straight quarter of bigger than forecast losses at J.C. Penney as new CEO Ron Johnson struggles to remake the company.

After the closing bell Thursday, Disney (DIS, Fortune 500) reported earnings in line with analyst expectations but sales of the entertainment company were a bit short of forecasts. Shares of the Dow component were down 3% in premarket trading.

Shares of daily deals site Groupon (GRPN) plunged 15% in premarket trading Friday, a day after quarterly results missed expectations….

Fear & Greed Index

In economic news, the Bureau of Labor Statistics will release figures on import and export prices at 8:30 a.m. ET, while reports on consumer sentiment and wholesale inventories are due later in the morning.”…via Free Republic

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Ed. note: If productive people went on strike, stopped earning money to be taxed, the government would run out of money to hand out to cronies and the democrat voting base. 


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