The Dow Jones Industrial Average
Wal-Mart continues to slide after falling nearly 4% yesterday following its earnings announcement. Total sales were up 4.5% during the holiday quarter, but earnings fell 12% as the discount retailer had to slash prices to attract cash-strapped consumers. Investors will want to keep an eye on unemployment figures, which may be slowly declining but are still uncomfortably high for companies like Wal-Mart, whose customers tend to have lower incomes.
Intel shares fell after Dell
Kraft is down about the same amount that shares rose yesterday on its solid earnings announcement. Sales grew 6.6%, and earnings rose 54%, largely based on cost-savings. Kraft is planning to split up its snack and grocery brands into two separate companies later this year. As I've noted before, the good giant's above-average valuation is one factor that seems to be weighing on the stock.
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