The Housing Woes SpreadBy
This is the week the stock market seems be acknowledging that the housing slowdown is spilling over to other industries. On Monday aluminum giant Alcoa reported that it missed its second quarter earnings. On Tuesday Home Depot said its earnings could fall as much as 18% this year, twice what the company was projecting earlier in the year. Sears provided the double-whammy, saying its second quarter earnings could be as low as $200 million in the second quarter, down from $284 million in the same period last year. Fewer sales of appliances were cited as an issue. Bad news for Whirlpool.
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