Gas price at $4/gallon; Lehman posts $2.8 billion loss
Most of the stocks went down today as a result of gas prices going up past $4 a gallon. Financials are taking a big hit today because Lehman Brothers posted a $2.8 billion loss for the second quarter. The outlook is not looking good for Lehman when the company says that it will raise $6 [...]
Tagged as: financials, lehman, loss, outlookCompanies That May Turn Around
COH – Coach Inc.
In the early morning press release, Coach said that it is going to open the first Hong Kong global flagship store in summer 2008, in the Lan Kwai Fong area located near Central (Link). This is very good news considering Hong Kong is the shopper’s heaven.
US Economy Loses Ground
The whole market is down at the moment. It is not just individual stocks, it is the whole market. As mentioned last week, Goldman Sachs sees US recession in 2008. The root cause of this is the Subprime Crisis in summer 2007, which leads to the housing downturn. This had indirectly affected most of the [...]
Tagged as: cheap, citigroup, consumer spending, decline, down, Economy, goldman sachs, housing, intel, loss, market, recession, retail, shaky, subprime, uncertainty, us, volatility