Photo: Wikimedia COmmons
Forget about Greece, Spain, the Fed, China, and so on.This is a good observation from Dan Greenhaus at BTIG. A number of notable US companies have been getting murdered lately:
Lost in all the macro debate has been a number of recent micro observations worth making. FDS (Factset) fell over 12% after reporting, FDX issued relatively soft guidance in its release (reducing costs), CASY (Casey’s General Stores) fell 13%, BBBY (Bed Bath & Beyond) fell over 17% today after itself guiding below the street, RHT (Red Hat) missed on billings and guided a bit below (-6%), KMX (CarMax) fell by 7%% after wholesale volumes declined by 2% and don’t tell MU (MIcron) about inflation; prices for their chips fell yet again (it’s not all bad; CAG rose by 3% after its report).
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