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In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.
Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy
into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending
on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial
Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will
rise and fall in value pretty much the same amount as the Dow or S&P.
You can also buy ETFs that invest in other
types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few
years, so there is no shortage of ETFs to invest in.
Home / Markets / Industries / Retail
Tuesday, May 20, 2008
Home Depot Reports a 66% Drop in Profit
FOXBusiness
Home Depot (HD) posted a 66% drop in profit from a year ago as the home improvement giant continues to suffer in a post-housing bubble economy.
The company posted net income of $356 million, or 21 cents a share, down from $1.05 billion, or 53 cents a share, a year earlier. Excluding one-time charge of $543 million charge, the company earned 41 cents a share in the latest quarter.
Analysts interviewed by Thomson Reuters were expecting Home Depot to post earnings of 37 cents a share.
Chairman and Chief Executive Frank Blake said Tuesday the housing market “conditions worsened in many areas of the country” this year.
Shares of Home Depot closed Monday at $28.87 and slid 3% in recent in pre-market trading.
Home Depot and Lowe’s have seen their profits implode since mid 2007 after the subprime mortgage mess and housing market collapse last year. On Monday, Lowe's (LOW) CEO Robert A said 2008 will be "a challenging year on many fronts."
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