Whirlpool Results Hammer Sears Holdings
Sears Holdings (SHLD) is down 5% today after disappointing results from appliance maker Whirlpool (WHR). Maybe logical if investing in Sears a decade ago, but the current ramp in the stock price has more to do with the potential leasing of unused retail space and the externalizing of brands. SHLD had been on a huge run since bottoming below $52 in late September so a pause at $82.50 isn't that shocking. It just took a little negative news for traders to jump ship. Nothing that alarming since SHLD should not be owned based on whether Kenmore appliances are selling well. SHLD will likely see some follow through weakness next week. The key will be holding the 10ema around $75.30. Details from WHR press release: Third-Quarter Consolidated Revenue up 2% EPS of $2.27 Versus $1.02 in Prior-Year Period Company Announces Major Cost Reduction Initiatives to Support Margin Expansion and Strengthen Global Competitive Position "During the quarter, we experienced...