Retail sector takes pole position on Wall Street AMERICAS LONDON 1ST EDITION

Arthur Hogan, chief market analyst at Jefferies & Co, said Wal- Mart's strong sales performance was a positive sign for the retail sector. "Wal-Mart is the world's biggest retailer so it's really difficult for them to beat expectations as much as they did. It speaks really we...

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Bibliographic Details
Published inThe Financial times (London ed.)
Main Author Chung, Mary
Format Newspaper Article
LanguageEnglish
Published London (UK) The Financial Times Limited 08.08.2003
Subjects
Dow Jones averages
Retail stores
Retailing industry
Stock exchanges
Technology stocks
NEW YORK
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Summary:Arthur Hogan, chief market analyst at Jefferies & Co, said Wal- Mart's strong sales performance was a positive sign for the retail sector. "Wal-Mart is the world's biggest retailer so it's really difficult for them to beat expectations as much as they did. It speaks really well for the rest of the group." Dell, the computer maker, fell 1 per cent to Dollars 30.97 ahead of its earnings report after the closing bell. Shares were pressured by cautious remarks from Smith Barney and JP Morgan Chase. Analysts said they have lowered gross margin expectations for Dell. Michelle Giordano, an analyst at JP Morgan Chase, noted in a report that Hartford is "one of the best operators in the insurance industry and excels in the areas that are likely to drive future success in the industry", including underwriting and expense discipline, careful general account management and broad-based distribution.
ISSN:0307-1766