Target had a good month in August, stock drops anyway

By Mike Mullen Thu., Sep. 1 2011 at 11:47 AM

Target, now with less "Super."

Target Corporation reported a 5 percent spike in retail sales in the month of August. No matter: Target stock is dropping today.

Oh, no. This is it. George Soros bought all that Target stock, and now he's deliberately tanking the company, before he drags the rest of American capitalism down with it. This is exactly what Glenn Beck told us would happen.

Actually, it was thought that the mere mention of Soros, known as a shrewd investor who makes his bets on the long term, would give Target a boost on the market. And maybe it did, for a little while: Even trading at around $51.00, as it is now, the stock price is above it's average level from last quarter.

But with positive announcements springing up all over -- second-quarter profits! August profits! George Soros! -- it's curious that Target is dropping on a relatively calm market day.

Gregg Steinhafel: Overpaid, underwhelming.

Target's August profits were announced at around $5.3 billion, beating last year's August number by more than 5 percent.

In fact, Target was one of only a small number of retail companies that beat Wall Street analysts' projections for August, according to Reuters.

And who better to instill confidence than Mr. Wordsmith himself, hugely-overpaid CEO Gregg Steinhafel. In the press release announcing August's numbers, Steinhafel credited the good sales figures to back-to-school activity, then busted out more of his corporate beat poet ramblings:

"While the pace of the economic recovery is uneven and uncertain, we are confident in our ability to execute on our strategy, to offer the right balance of extraordinary value, convenience, newness and differentiation and to remain our guests' preferred shopping destination."

(Finger snaps.)

Anyway, there's probably nothing to worry about, in terms of the stock -- OH NO! In the time it took to write this story, the stock's dropped, again, and now it's down more than one percent for the day. Dammit, Soros!

Sell! Sell!

Related:

Tags:

George Soros, Glenn Beck, Gregg Steinhafel, stock market, Target Corp.

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Kirk the Conservative Jerk

I think the drop in price was a result of the protest of Target Corp by the Gay Organizations and the negative press of CityPages and like media. So many people have no clue on business economics."Oh look", the media will say; "sales and profits were up from July to August". Ya doorknob, that's because of "back to school" shopping.

"Up from last August"; wasn't that the same time Citypages was promoting gay bullying strategies used on Target Corp? (august 2010)

So, George Soros is buying up Target Corp shares.But Mark Dayton's family is still the majority owners of the shares right?

jww

We've got ourselves an economist over here . I can't see real good, is that Al Greenspan?

A lecture on business from the guy who brings his garbage to work in his Saturn...I guess that makes sense. Let me see if I have this straight...it costs you money to have a garbage service come to your house, but if you bring it to work and throw it away there it becomes free. Makes sense to me. But that's probably too sophisticated for people around here. Besides, I'm sure you're really tired of trying to explain true-cost economics to the masses.

Thanks for the crash-course on the stock market though. It has been very helpful. Thanks to you, I now know everything that I need to know about "business economics". If TGT doubles in the next 2 weeks I'll be able to afford that Saturn I've had my eye on. I just need to figure out how to keep the queers away from Target. With information like this I'll be just as smart and rich as you, Kirk. Sweet.

Warren G. Buffett

So whats the point of this article? Is it serious, tongue & cheek or just another Target bashing? Positive reports and a Soros buy are not guarantees for market success.

If you've followed anything business related in the last month, you'll notice that the companies stock price movement has less to do with actual performance and more on external economic factors.

I cant believe you spent the time to write an article on a companies 1% decrease in stock price. HA!