It's no joke…cows are eating candy before Halloween and Walmart executives are happy, not about candy eating cows, but profits. Here's the Wednesday Bloomberg After The Bell Report from the New York Stock Exchange.
American Stock Exchange
2421.77 down 10.15
3051.78 down 13.24
Standard and Poors 500
1432.56 down 8.92
It was a down day for the market. Stocks fell as Alcoa cut its outlook for global demand and job openings dropped for a second straight month in August, a sign that companies are reluctant to hire more people.
Walmart shares rose to a record high after an executive said back-to-school sales were "very strong." The company's been cutting prices and that's boosted sales.
Meantime, it looks like Sprint is holding off on an immediate counter bid for MetroPCS. Sources say that's because Sprint needs time to analyze the carrier's planned combination with T-Mobile, which is owned by Deutsche Telekom. They also say Sprint may have as much as three months to bid before MetroPCS investors vote on the T-Mobile deal.
Are cows now eating candy? CNNMoney says some farmers are doing that to save money on the cost of raising cattle, given how the summer drought sent prices for feed, like corn, surging. The idea is to mix cheaper food including hot chocolate mix and gummy worms into feed like corn and hay.
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