Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterRetailer’s stock plunges
Thursday, Jan. 3, 2002 | 9:42 a.m.
DETROIT -- Capping a Scroogelike holiday season for Kmart, a Wall Street analyst's negative report sent the price of the company's shares plunging by 13.2 percent to $4.48 in heavy trading on Wednesday, marking a five-year low for the nation's No. 2 discount chain.
The analyst, Wayne Hood of Prudential Securities, slashed his per-share earnings estimate for the fourth quarter by more than 50 percent, predicted a loss for the year and urged investors to sell. At the same time, he wrote, "We would not be surprised if the company were to file Chapter 11 bankruptcy if trends do not improve."
But Kmart spokesman Jack Ferry said: "Kmart has sufficient funds and available lines of credit to continue to carry out its strategies."
archive
- Most Read
- Discussed
- Most E-mailed
- Corrections officer with Metro killed in U.S. 95 crash
- The pull of a drug, a push to the brink
- Was there an ulterior motive in parking the stripper-mobile?
- Harry Reid’s hopes hitched to health care reform bill
- Reid clears major health care hurdle, daunting weeks ahead
- CityCenter hotel welcomes new employees with gala
- Notebook: The Shark and LJ circle
- Politicians waste no time spinning latest jobless numbers
- Forrest Griffin writes his own ending at UFC 106
- Willis makes big difference in UNLV’s 78-69 victory
Blogs
Culture and Entertainment
UFC 106 walk-in music: Griffin changes his tune, secures win over Ortiz
The Kats Report
For props, Lewis Black needs only his manic delivery and torrid material (9 Comments)
Elsewhere
Sands China raises $2.5 billion in Hong Kong IPO (2 Comments)
Marquardt v. Sonnen scheduled for UFC 109
Bloggity, Bloggity, Bloggity
Will a fourth consecutive title by Jimmie Johnson be good or bad for NASCAR? (4 Comments)
Top Chef: Las Vegas
The Jet Stream: And then there were four
Top Chef Episode 12: On keeping it simple
- Live chat
- Tuesday, noon PST
- Chat with Krista Creelman
- Problem Gambling Center executive director Krista Creelman will answer questions about gambling addiction from Las Vegas Sun readers from noon to 1 p.m. Tuesday, Nov. ... Submit question
Calendar »
- 23 Mon
- 24 Tue
- 25 Wed
- 26 Thu
- 27 Fri
-
The Automatic Tour at The Square Apple
The Square Apple
-
Football specials at Diablo's
Diablos Cantina
-
Rhumbar presents Pink Sugar Mondays
The Mirage Hotel and Casino
The Sun
Locally owned and independent for more than 50 years.
