Market Trends

One of my favorite sectors received good news today.

Family Dollar Stores Inc. (FDO:NYSE) reported a 33% jump in quarterly profit, due to increased sales of clothing and electronics. It seems that customers did in fact travel to FDO stores even though gas prices were high, offsetting those costs with lower-priced household items.

As further guidance, the dollar store company reported that September sales wouldn't be so good. Net income came in at $38.8 million ($0.26 per share), which was $0.03 over analysts' expectations.

Due to its lowered guidance, FDO has dropped to $28.00 per share, $2.00 below where it was trading a week ago. Even though earnings were good, I don't see a buying opportunity on FDO just yet, as it looks like it will continue to correct.

But I'm still following the company in the long term.

Material Profits

Of all the fuels the world uses, renewable sources grew the most. The big winner? Solar Power at 29.2%.

This makes sense because the U.S. only uses solar power for 1% of its energy needs.

We'll talk more about this tonight.

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