Cherry-Picking the Economic News--Anything to Whistle past a Graveyard
Foreign Sales Help I.B.M. to a Strong Quarter
Published: January 14, 2008
The fallout from the banking industry’s woes and a slowing American economy are certainly not hurting I.B.M. yet.
The giant technology company gave Wall Street a pleasant surprise on Monday morning by announcing quarterly earnings that were far higher — up 24 percent — than most analysts had forecast.
January 14, 2008
Sears Expects 60% Drop in Profit for Quarter
Sears used to beckon shoppers to come see its softer side. Now, they are starting to see its struggling side.
Sears Holdings, the rocky combination of Sears and Kmart, said Monday morning that its profits would fall by 60 percent in the current quarter, which ends Feb. 2, compared with last year. The news sent its stock tumbling 6 percent.
January 14, 2008
Americans Cut Back Sharply on Spending
By MICHAEL BARBARO and LOUIS UCHITELLE
Strong evidence is emerging that consumer spending, a bulwark…