This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

The Five Dumbest Things on Wall Street This Week: Feb. 1

Stocks in this article: HLF

2. Goings, Goings, Gone

Tupperware (TUP) may have beaten the Street this week, but CEO Rick Goings better think twice before stepping into a New York City taxicab.

Tupperware posted net income of $74.5 million, or $1.71 per share after one-time adjustments, in its fourth quarter. In the same period last year, the company booked a profit of $86.9 million, or $1.50 per share. Wall Street analysts expected income of $1.68 per share. Shares of Tupperware spiked over 5% on Tuesday's earnings beat.

Those are just the numbers, though. The real fun came during the conference call when Goings went off on a question from Bank of America Merrill Lynch analyst Olivia Tong over Tupperware's lack of U.S. success.

"We are a high-quality product and a brand. Why do we do better in Europe than we do in the U.S.? Hey, take a look at the average brand of cab that you get in New York City -- I mean, they're filthy. They're junk. Get in a cab over here. It's a Mercedes or an Audi," said the Tupperware CEO.

Considering a taxi medallion in the Big Apple goes for over $1 million, we imagine that most cabdrivers probably would tell the Tupperware CEO to stuff it. Goings didn't stop there, though. He just kept going and going.

"The U.S.A. is basically a Wal-Mart market. Our top-tier products like the Microsteamer or the Ultra Plus, that are 100-year-old products, it's hard to sell them in the U.S. because that's a discount market over there. ... They buy price. Europe buys quality, Japan quality. And our issue is, how do we find the right product mix for the U.S. to make it happen there? And I've got to tell you, Olivia, it is challenging," said Goings.

Well, we've got to tell you, Rick: Thank you for a quality answer. We don't get CEOs responding that truthfully to questions that often and even rarer still do we hear them insult the consumption habits of every single American citizen.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To 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.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs