Thursday, September 04, 2008

Market Pain

Today, the market is suffering. Jobless claims jumped, and monthly retail sales figures were weak. However, the portfolio is taking a much harsher beating.

A couple reasons why...

Wet Seal (WTSLA) announced its sales numbers, and they were a bit worse than the analysts' consensus. Shares down roughly 5%.

Manitowoc (MTW) is down a good 6% right now after Terex (TEX) announced that its earnings would fall short of expectations for the next two quarters as well as for the current fiscal year. TEX fell a good deal more (-20%), but that doesn't change anything about the MTW pain I'm feeling.

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