Word: pullback
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...homebuilders has gotten ahead of the sector's pending recovery. "The stocks have gone too far, too fast," says Rob Stevenson, managing director at Fox-Pitt Cochran Caronia. Stevenson isn't surprised by the insider selling at Toll Brothers: "We think the group has gotten overvalued and that a pullback is likely." After all, he notes, "they're still not producing a profit...
...dilemma, especially now that U.S. President Barack Obama has arrived with a new approach to diplomacy that largely jibes with Europe's. "In the end, all you can really do is keep your soldiers there and accompany them until the day that Obama sees it is O.K. for a pullback," says Romano. "It's a very passive diplomacy, but it's not irrational. You can't really undermine American foreign policy, especially now." (Read "Congressional Dems Get Balky on Afghanistan...
...filing comes as the debilitating recession, rising unemployment, a sharp pullback in business travel and weak consumer confidence have taken a crippling toll on hotels. In the first seven months of 2009, hotel occupancy was down 10.3% while average daily room rates are off 8.8%, according to Smith Travel Research (STR). At the same time, lodging stocks lost 80% of their value on average over the past year, although many have rallied back a bit in the past couple of months...
...Indian companies who make those products, and their shareholders, will soon ask themselves the same question. A recent report from analysts at Bank of America/Merrill Lynch in Mumbai projects "a 10 to 15% pullback in equities led by drought-led growth cuts." Every major drought in India has a pervasive impact on the economy, which is unlikely to meet the government's projected 7% GDP growth this year. (Analysts expect 6% or less.) With crops failing, food prices will go up everywhere, pushing up inflation. Mohammed Nadim, a vendor in Hoshiarpur, says the wholesale price of his cartful of sweet...
...going to save Sears and Kmart, retailers that seem increasingly irrelevant in the Walmart/Target/Home Depot world. For example, as Morgan Stanley analyst Gregory Melich writes in a recent equity research report, "Sears Holdings' underinvestment in stores has degraded its ability to withstand the magnitude of the current pullback in consumer spending." (See 10 things to buy during the recession...