MarketFoolery: 06.14.2011
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 14 June 2011
⏱️ 12 minutes
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Summary
Best Buy reports better-than-expected earnings. Facebook eyes a big IPO. And the CEO of Miracle-Gro eyes the high-end market.
Transcript
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| 0:00.0 | It's Tuesday, June 14th, and this is Market Fullery. |
| 0:05.0 | I'm Chris Hill and joining me in studio today for a million dollar portfolio, Ron Gross, |
| 0:10.0 | from Income Investor James Early, and for Motley Fool Fool Stock Advisor, Jason Moser. |
| 0:13.7 | Guys, good to see you as always. |
| 0:15.1 | Good to see you, as always. |
| 0:16.0 | Facebook CEO might have a hundred billion reasons to take the company |
| 0:19.7 | public and Miracle Grow's CEO has high hopes. |
| 0:23.0 | But we begin today in the retail sector. |
| 0:26.0 | The market was up today after the Commerce Department |
| 0:28.0 | reported retail sales were down 0.2% last month, |
| 0:32.0 | the first decline in nearly a year. So Ron Gross, not great numbers, but still not as bad as economists had predicted. |
| 0:40.0 | And on the heels of that, shares a best Buy up today after first quarter sales and profit, |
| 0:44.8 | both better than expected. |
| 0:46.3 | Yeah, interesting. |
| 0:47.3 | So retail, not great, better than expected. |
| 0:49.7 | I think some folks are saying, you know, the auto sales is actually significantly impacting |
| 0:54.0 | that number and it's kind of related to the Japanese situation causing the weakness |
| 0:59.4 | there but it is interesting that as you mentioned stocks are up sharply and specifically |
| 1:04.0 | Best Buy is really rallying today not because the numbers were that good but |
| 1:08.5 | because they beat expectations which is often how these things play out on a short-term basis. |
| 1:14.0 | I have a like-hate relationship with Best Buy. |
| 1:17.0 | There's really no love in there. |
... |
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