Schaeffer's Trading Floor Blog
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It could be a bumpy ride for bulls today; futures are pointed south after a broad sell-off overseas and mixed messages from Federal Reserve officials on Wednesday.

  • Hewlett-Packard Company's (NYSE:HPQ) fiscal second-quarter earnings came in at 87 cents per share, excluding items, beating the consensus forecast of 81 cents per share. The computer maker also reaffirmed full-year earnings-per-share guidance of $3.50 to $3.60, and raised its dividend to 14.5 cents per share. The stock is up over 10% in pre-market trading. (Forbes)

  • J.C. Penney Company, Inc. (NYSE:JCP) will receive a $2.25 billion loan from Goldman Sachs Group, Inc. (NYSE:GS) -- $500 million more than was initially anticipated -- to help the retailer get back on track. With the infusion of cash, CEO Mike Ullman plans to restore brands and items that previous CEO Ron Johnson had eliminated, much to the dismay of shoppers. (CNBC)

  • Yesterday, Tesla Motors Inc (NASDAQ:TSLA) paid back its $465 million clean energy loan from the U.S. Department of Energy -- nine years earlier than was required. The electric automaker has seen its share price increase by more than 150% year-to-date, and its Model S sell more quickly than anticipated, both of which factored into the rapid payoff. (CNET)

  • Ford Motor Company (NYSE:F) is closing its manufacturing plants in Broadmeadows and Geelong, Australia, due to increasing costs in the country. The move, effective in October 2016, will result in about 1,200 workers losing their jobs. (ABC News)

  • Amazon.com, Inc. (NASDAQ:AMZN) is bringing its Kindle Fire tablet to 170 countries and making its Appstore available in 200 countries. Until now, the online retailing giant's Appstore only functioned in a handful of global destinations, including Japan and the U.K. Amazon hopes this worldwide expansion will attract not only more customers, but more developers, as well. (TechCrunch)

  • Multi-hyphenate Jennifer Lopez has another project on her plate -- wireless company Viva Movil, which is geared toward the Latino market. Ms. Lopez will work with Verizon Communications' (NYSE:VZ) Verizon Wireless unit on the new entity, serving as its chief creative officer to spearhead the marketing process. First up is a bilingual website (launching today), and three retail stores, opening in New York, L.A., and Miami, with more to follow. (CNBC)

  • Hormel Foods Corporation (NYSE:HRL) released fiscal second-quarter earnings that fell short of analysts' expectations. Per-share results came in at 46 cents per share, three cents shy of the Street's consensus view, while sales rose almost 7% to $2.15 billion, narrowly missing the $2.19 billion estimate. (Reuters)

  • Finally, plus-sized blogger Jes M. Baker has published a series of photos spoofing print ads from Abercrombie & Fitch Co. (NYSE:ANF) and stamped with the alternative branding "Attractive & Fat." The retailer has faced harsh criticism due to recently surfaced 2006 comments from its CEO Mike Jeffries. He defended the chain's decision to carry only relatively small sizes (nothing above a women's size 10) by quipping that ANF clothes are for "cool kids" with "a lot of friends." ANF earnings are expected tomorrow before the open. (Yahoo!)


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