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Costco Disappoints, Staples Shutters Stores & Jim Cramer's Petrol Play

Costco misses on both the top and bottom line and Staples says it will close more than 200 stores in order to cut costs.

It's a big day for retailers. Costco reported a big earnings and revenue miss, and Safeway is said to be closing in on a big LBO. Along with Costco's disappointing numbers, Staples missed analyst expectations when it reported earnings and the company says it will shutter more than 200 stores as it looks to clean up its books. Plus, Jim Cramer is looking at Anadarko as a petroleum play. TheStreet's Jon Marino reports from the Nasdaq MarketSite in Times Square.

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