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 3/10 Fair --- seekingalpha.com http://seekingalpha.com/tag/todays-market.xml
| 'Today's Market' Tag RSS Syndication from SeekingAlpha.com ... |
Wednesday, May 14, 2008 --- 71 days ago http://seekingalpha.com/article/77009-wall-street-breakfast-must-know-news?sourc
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Wal-Mart beats as consumers skimp. Wal-Mart Stores (WMT) posted a 7% rise in quarterly profit, slightly outdoing Street expectations. International sales surged 22%, compared with 6.6% domestic growth at Wal-Mart-branded stores and 7.6% at Sam's Club. "The consumer is getting squeezed right now," said Jim Wright of Harvest Financial Partners. "More and more consumers are going to look for good deals. Wal-Mart does a pretty good job at that. This is an environment where they should outperform." "Our business is even more relevant to our customers today, given the current economic pressures," CEO Lee Scott said.
HP courts EDS in challenge to IBM. HP (HPQ) is in advanced talks to acquire Electronic Data Systems Corp. (EDS) for about $13B. Buying EDS would vault HP to the number-two position in global IT services, behind IBM (IBM), whom the deal obviously targets. WSJ notes the strikingly different cultures at the two companies, and says a deal could spark a major round of tech industry consolidation. Last year, IBM controlled 7.2% of the tech services market, EDS was second at 3%, and HP was fifth at 2.3%.
Nissan rolls back growth outlook amid strong yen. Nissan Motor's (NSANY) five-year business plan includes an all-electric car in the U.S. and Japan by 2010, and targets an average 5% revenue growth over the next five years, led by 60 new models and an increased focus on emerging markets such as Russia, Chin ... |
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