Bull Market officially over!! Year heading negative.

[Omega10]

Bad news for Costco.

https://finance.yahoo.com/news/wall-...172507787.html

Title: Wall Street drills Costco stock because it's paying workers $2 more an hour during COVID-19

Costco (COST) shares were drilled to the tune of 3% on Friday after delivering what looked to be an impressive fiscal fourth quarter. The company posted quarterly earnings some 33 cents ahead of analyst estimates, powered by an unworldly 11.4% same-store sales gain. Costco members flocked to warehouses to keep their cupboards stocked up as they continue to spend more time at home during the COVID-19 pandemic. Executives pointed out on an earnings call that it believes the pandemic has brought in new Costco members, too.

Costco stock dropped 3% today despite having some nice numbers.

Then why the selloff in Costco’s stock? Simply put, analysts appear not too pleased Costco continues to pay its workers what has become known in retail as pandemic pay. Costco began paying its workers an extra $2 an hour back in March at the height of the pandemic. While other retailers such as Kroger and Target have stopped pandemic pay, the notoriously pro worker Costco has kept its practice intact.

Basically, investors will target any company that pays its employees too much. I think that US workers need to get used to MUCH lower wages moving forward. US companies and major investors just won't put up with overpaid employees.

I am not sure this will end well for Costco.

[Rasulis]

Bad news for Costco.

https://finance.yahoo.com/news/wall-...172507787.html

Title: Wall Street drills Costco stock because it's paying workers $2 more an hour during COVID-19



Costco stock dropped 3% today despite having some nice numbers.



Basically, investors will target any company that pays its employees too much. I think that US workers need to get used to MUCH lower wages moving forward. US companies and major investors just won't put up with overpaid employees.

I am not sure this will end well for Costco.

I don't think Costco cares. The company has always paid a higher rate to their employees than the likes of Walmart and Target.

[Breccia]

I am not sure this will end well for Costco.

By continuing to provide quality merchandise and respect their workers? If I was within 100 miles of one I'd have joined by now.

[unfilteredJW]

Bad news for Costco.

https://finance.yahoo.com/news/wall-...172507787.html

Title: Wall Street drills Costco stock because it's paying workers $2 more an hour during COVID-19



Costco stock dropped 3% today despite having some nice numbers.



Basically, investors will target any company that pays its employees too much. I think that US workers need to get used to MUCH lower wages moving forward. US companies and major investors just won't put up with overpaid employees.

I am not sure this will end well for Costco.

Costco will continue not being a shit company and treat it's workers well.

[Omega10]

Costco will continue not being a shit company and treat it's workers well.

I hope Costco wins.

Maybe my pessimism detector went haywire.

[Zan15]

Bad news for Costco.

https://finance.yahoo.com/news/wall-...172507787.html

Title: Wall Street drills Costco stock because it's paying workers $2 more an hour during COVID-19



Costco stock dropped 3% today despite having some nice numbers.



Basically, investors will target any company that pays its employees too much. I think that US workers need to get used to MUCH lower wages moving forward. US companies and major investors just won't put up with overpaid employees.

I am not sure this will end well for Costco.

well it goes a little deeper than this.
the fear is the covid bump they saw in sales/revenue will not last forever but they are worried that the corresponding salary cost bump will.

the stock is also up 11% since last release and 20% year to date. One could understand a little pull back and consolidation in this market so far this month

[Omega10]

well it goes a little deeper than this.
the fear is the covid bump they saw in sales/revenue will not last forever but they are worried that the corresponding salary cost bump will.

the stock is also up 11% since last release and 20% year to date. One could understand a little pull back and consolidation in this market so far this month

I see.

So the premise of the article is just a flat out lie. When something goes up by 20% and then drops back down 3%... well as you stated it is just a pullback.

About a decade ago or so, the EU went from being worth about 0.80 dollars to about 1.6 dollars, give or take. So it would go UP to 1.15, then DOWN to 1.13, then UP to 1.2, then DOWN to 1.8, repeatedly and this happened quite regularly as the overall trend was substantially higher over time.

Yet the headlines every time it pulled back a bit was: THE EU IS CRATERING VS THE US DOLLAR, THE EU IS FALLING APART AS IT DROPS ONCE AGAIN, along with predictions of the EU falling back below the dollar.

Complete and total lies.

This article is also a complete and total lie, except that some reporter or investor or someone is making a push for lower wages for US workers. Thanks for the update.

[Breccia]

This morning the S&P 500 gains for the year were erased.

The S&P 500 was 3258 at the start of the year, peaked 3373 Feb just before the bottom fell out, reached 3580 Sept 2 and slowly dropped to 3298 now.

The DOW's path is similar, except slightly worse in every way. The pre-crash Feb peak has not yet been re-reached, and the DOW is 1,700 or so lower now than the start of the year. In fact, the DOW is only slightly higher than Jan 2018.

Neither market's four-week drop is a sudden panick. The DOW and the S&P could each have Monday be one of their best days ever (there is no reason to suspect they will) and they'd still be down for the month. This decline is not a sudden sharp selloff, but the illusion of a magic recovery fading and traders realizing it one by one.

Thread's title remains accurate.

[Zaydin]

The S&P 500 was 3258 at the start of the year, peaked 3373 Feb just before the bottom fell out, reached 3580 Sept 2 and slowly dropped to 3298 now.

The DOW's path is similar, except slightly worse in every way. The pre-crash Feb peak has not yet been re-reached, and the DOW is 1,700 or so lower now than the start of the year. In fact, the DOW is only slightly higher than Jan 2018.

Neither market's four-week drop is a sudden panick. The DOW and the S&P could each have Monday be one of their best days ever (there is no reason to suspect they will) and they'd still be down for the month. This decline is not a sudden sharp selloff, but the illusion of a magic recovery fading and traders realizing it one by one.

Thread's title remains accurate.

So basically Wall Street is finally accepting that the likelihood of a V shaped recovery is low, assuming they still had hopes for one?

[Zan15]

I see.

So the premise of the article is just a flat out lie. When something goes up by 20% and then drops back down 3%... well as you stated it is just a pullback.

About a decade ago or so, the EU went from being worth about 0.80 dollars to about 1.6 dollars, give or take. So it would go UP to 1.15, then DOWN to 1.13, then UP to 1.2, then DOWN to 1.8, repeatedly and this happened quite regularly as the overall trend was substantially higher over time.

Yet the headlines every time it pulled back a bit was: THE EU IS CRATERING VS THE US DOLLAR, THE EU IS FALLING APART AS IT DROPS ONCE AGAIN, along with predictions of the EU falling back below the dollar.

Complete and total lies.

This article is also a complete and total lie, except that some reporter or investor or someone is making a push for lower wages for US workers. Thanks for the update.

Nah, it could be A reason investors sold off the stock but not necessarily THE reason.

The article is just poorly written and the folks interviewed overstated their reasons.


All the downgrades i saw yesterday on Costco were because of the huge run up from lows, the spike in COVID-Stimulus related sales and increased expenses would not be something sustained. But their downgrades were from Strong buy/buy to buy/hold not sell.

- - - Updated - - -

So basically Wall Street is finally accepting that the likelihood of a V shaped recovery is low, assuming they still had hopes for one?

They accepted that months ago and most were saying it was going to continue being a K shaped recovery.

K = huge wins for some, huge losses for others as we are seeing in things like Tech vs banks or for that matter Tech vs everyone else

[Draco-Onis]

So basically Wall Street is finally accepting that the likelihood of a V shaped recovery is low, assuming they still had hopes for one?

The last recovery was K shaped not sure why anyone would think this would be different considering the massive stimulus and money going to the top.

[Rasulis]

Nah, it could be A reason investors sold off the stock but not necessarily THE reason.

The article is just poorly written and the folks interviewed overstated their reasons.


All the downgrades i saw yesterday on Costco were because of the huge run up from lows, the spike in COVID-Stimulus related sales and increased expenses would not be something sustained. But their downgrades were from Strong buy/buy to buy/hold not sell.

- - - Updated - - -



They accepted that months ago and most were saying it was going to continue being a K shaped recovery.

K = huge wins for some, huge losses for others as we are seeing in things like Tech vs banks or for that matter Tech vs everyone else

Tech started leaving the rest of the field as far back as 2008. During the great recession, Wall Street investors plowed their money into Tech and Fracking. With two completely divergent results. In Tech they ended up with some of the most profitable companies in the world. In Fracking they ended up with some of the biggest losers.

To put it into perspective, between 2009 and September 25, 2020, IT sector outperformed the S&P 500 by 904.5%. The numbers would have been a lot higher if, in 2018, S&P 500 had not moved Amazon from IT to Consumer Discretionary, and Google, Netflix and Facebook to Communication Services. The rise of IT and Biotech in 2009 was the single big reason why the San Francisco housing market only went down by 20% during the housing crash and recovered the earliest (within 2 years).

[Belize]

Bad news for Costco.

https://finance.yahoo.com/news/wall-...172507787.html

Title: Wall Street drills Costco stock because it's paying workers $2 more an hour during COVID-19



Costco stock dropped 3% today despite having some nice numbers.



Basically, investors will target any company that pays its employees too much. I think that US workers need to get used to MUCH lower wages moving forward. US companies and major investors just won't put up with overpaid employees.

I am not sure this will end well for Costco.

I can't wait for a government that comes down with force on wallstreet and puts some fucking regulations on investors.

Big investors that made all their money on stocks are the scum of the earth.

[Breccia]

The lack of stimulus results is continue to drop the market. There is no recovery.

Normally I'd quote someone who said there would be an amazing recovery and shove it in their face, but they haven't responded to the challenge yet and I don't feel the need to cite a craven coward.

- - - Updated - - -

Disney lays off twenty-eight thousand people after the market closes. No really, the article is dated 5:09PM.

- - - Updated - - -

Marathon Petroleum, top U.S. refiner, begins widespread job cuts

The Finland-based comp...

(checks source)

The Findlay, Ohio-based company has been shedding units to improve results. It had 60,000 employees as of Dec. 31, with two-thirds in retail operations that are being acquired by 7-Eleven Inc, an arm of Japan's Seven & i Holdings Co Ltd

i? Like, imaginary? If we square the company, do they get their jobs back?

The article doesn't nail down a single number, dozens here and there, percents in other places. They do say the company is expected to announce over six hundred million dollars of third-quarter losses, which to be fair, is a damn sight better than the nine fucking billion dollars they already lost.

Nine. Billion. With a "fucking".

[Antiganon]

So basically Wall Street is finally accepting that the likelihood of a V shaped recovery is low, assuming they still had hopes for one?

Oh I'm sure Wall Street itself will enjoy a V-shaped recovery.

It's just that pesky "rest of the economy" that won't.

[Zan15]

Oh I'm sure Wall Street itself will enjoy a V-shaped recovery.

It's just that pesky "rest of the economy" that won't.

financial companies are not doing well at all especially what one would consider "wall street"

[Thepersona]

Well, the Dow futures are in red numbers. So there's thar

[Breccia]

Oh I'm sure Wall Street itself will enjoy a V-shaped recovery.

It's just that pesky "rest of the economy" that won't.

For those of you missing the point, Antigannon is describing the K-shaped recovery Biden specifically mentioned.

[Zan15]

Well, the Dow futures are in red numbers. So there's thar

Problaly more to do with disney then debates

[Antiganon]

For those of you missing the point, Antigannon is describing the K-shaped recovery Biden specifically mentioned.

This.

/10char