Stock Futures Edging Lower At The Open
Stocks futures are lower from Cisco lower outlook for next quarter, GM’s restatement of 01 earnings, and the biggest ever trade deficit.
Whole Foods Market taking a beating in pre-market lower by 10pts.
Whole Foods said it earned $9.1 million, or 13 cents per share, for the three months ended Sept. 25, compared to $28.2 million, or 43 cents per share, a year earlier.
The $9.1 million figure included pretax costs of $36.4 million related to Hurricane Katrina — the storm shuttered two Louisiana stores for the last five weeks of the quarter — stock-based compensation and early adoption of a rule change in lease accounting.
Analysts polled by Thomson Financial had expected earnings, excluding items, of 53 cents per share. Company officials said Whole Foods would have earned 52 cents per share excluding the extra costs, based on a 40 percent tax rate.
–MSN Money & AP
Keep an eye on WFMI. It could present an opportunity to jump in at a good price for this excellent company.
It's not when you buy. It's when you sell!
