The Five Dumbest Things on Wall Street This Week
1. A Swift Kick in the Trump
Cisco (CSCO) CEO John Chambers may bore us to tears with his marathon conference calls. He, along with Hewlett-Packard's (HPQ) Carly Fiorina, may even have tanked the tech market with their cautious talk this week. Still, we have no problem understanding why people respect them. But Donald Trump? That, we just don't get. Yeah, Trump continues to be one of those head-scratchers for New Yorkers. At the same time that his reality TV show has made him a nationwide business icon, the question in his hometown is, How did this guy manage to convince the world he's a good businessman? Well, some of Trump's luster officially diminished Tuesday when Trump Hotels & Casino Resorts (DJTC) said it plans to file for bankruptcy protection. In a business where the house always wins, TH&CR has been a losing proposition. Revenue has declined. Operating income is down. Net losses, thanks to a bad bet on debt, have been rising. For the last eight years, the stock has been an unqualified dog. As we look for someone to blame here, our eyes fall on the Donald himself -- who not only served as chairman and CEO, but also made sure that every property it owns or operates is named after him. A man with a talent for publicity? Yes. A man who can look out for himself? Yes. But some sort of model businessman? To answer that question, maybe you should ask the minority shareholders of Trump Hotels, who -- as Timothy Connolly calculated on RealMoney -- got stuck with stock worth 3 cents a share. Fret as you might about Cisco's bloated inventory or whatever. For us, Chambers on a bad day beats Trump any day.2. Next Stop: The Island of Misfit Toys
Toys R Us (TOY) said Wednesday it was thinking about getting out of the toy business.| Santa's Workload May Increase Toys may not be them |
| Toy Stor-age? H-P, Toys R Us got all synergistic |
3. Hewlett the Dogs Out
Well, as miserable as the folks at Toys R Us must feel this week, they've got some seriously poetic company. That's what we discovered Thursday morning, when in our ceaseless quest for good news on Wall Street, we pointed our browser over to Yahoo! Finance to see what was up with Hewlett-Packard. H-P, you may recall, missed estimates and guided downward Thursday, blaming "unacceptable execution in Enterprise Servers and Storage." The stock lost 17% of its value by noon, and Fiorina spoke of "immediate management changes." Well, once we arrived over at Yahoo! Finance, we found this little gem on Yahoo!'s summary page for H-P: An ad touting the synergies between H-P and, of all companies, Toys R Us. Yes, indeed. With Toys R Us plus H-P, anything is possible. Just not this particular week.TheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn MoreETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn MoreOptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn MoreReal Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn MoreStocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,801.23 | 1,342.64 | 2,903.88 | 19.69 |
Oil *
117.67
|
|
DOWN
89.23 |
DOWN
9.31 |
DOWN
23.35 |
DOWN
0.78 |
10 Yr
1.97%
SPDR Gold
167.14
|
|
-0.69%
|
-0.69%
|
-0.80%
|
-3.81%
|
Data delayed 20 minutes |

Connect with TheStreet