MarketFoolery: 01.28.2013
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 28 January 2013
⏱️ 20 minutes
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Summary
Caterpillar makes a bad bet in China. Barnes & Noble announces more store closings. And Jos. A. Bank holds a 16% off sale on its stock.
Transcript
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| 0:00.0 | It's Monday, January 28th. |
| 0:04.0 | Welcome to Market Fullry. |
| 0:05.0 | I'm Chris L. joining me in studio today for Motley Full 1, Jason Moser and for Motley |
| 0:09.2 | Full Hidden Gems, Chief Investment Officer here at the Motley full, Andy Cross. |
| 0:13.1 | Happy Monday, guys. |
| 0:14.0 | Hi, Chris, happy Monday. |
| 0:15.3 | We're going to talk Barnes and Noble. |
| 0:16.8 | We're going to talk Men's Apparel retail, because we're fashionable guys. |
| 0:21.1 | And when I say we, I basically mean I basically mean Andy actually looks like you |
| 0:25.4 | know a grown up today. We're gonna start with one of the big Dow stocks and |
| 0:30.1 | that's Caterpillar fourth quarter earnings came in better than expected, shares |
| 0:33.7 | up about 2% this morning, but Jason, what's getting the headline today, the big headline, |
| 0:40.1 | is the fact that net income for the quarter fell by a half due to China and it's really |
| 0:46.0 | two things in China one is sort of slower growth and we'll talk about that in a minute |
| 0:49.5 | but it's this this right down they had to do of a deal that really just didn't work out the way they wanted it to. |
| 0:56.0 | Yeah, that's really concerning. I mean, it's interesting to see the market's reaction today with the stock being up. |
| 1:01.0 | This wasn't a surprise. I mean we had seen news |
| 1:03.4 | out on this for a while, but it was essentially it was a Chinese acquisition |
| 1:07.2 | that the worst part about this is that you the management of Caterpillar |
| 1:12.1 | gets up there and they say we really went through this |
| 1:14.8 | and did our due diligence before making this acquisition but I mean the fact of matter is that |
| 1:19.4 | what what they apparently have on their hands here is a multi-year intentional accounting fraud |
... |
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