Monday, March 09, 2020

Kansas City Biz Suffers Amid COVID-19 Scare



The U.S. falls into a bear market and Kansas City employers now confront harsh times.

Dow closes with decline of 2,000 points, almost ending 11-year bull market

Local angle after today's EPIC drop:

"Ten Kansas City-area public companies tumbled even more than the benchmark average. In just a day, the 10 local companies saw their combined market cap fall $8.25 billion."

Here's a quick look at some of the local biz that has been hurting in the recent stock declines amid oil prices plummeting and pandemic fears . . .

We picked the companies that earn the most local headlines . . .

UMB Financial Corp. (Nasdaq: UMBF), -17.08%
Kansas City Southern (NYSE: KSU), -15.19%
AMC Entertainment Holdings Inc. (NYSE: AMC), -15.01%
Sprint Corp. (NYSE: S), -9.84%
Commerce Bancshares Inc. (Nasdaq: CBSH), -9.47%

A more complete look for subscribers with more deets, insight and a local publication that might actually be worth paying to read:

KC Biz Journal: Double whammy: It's not just your 401(k) — these KC-area companies are feeling coronavirus, oil price war

Developing . . .

40 comments:

Anonymous said...

Oh bullshit, only high risk stacks were hurt

Anonymous said...

Who owns "stacks"? And what makes them high risk?

Feel The Bern In Kansas City said...

2000 point drop is NOT b.s.

Sorry, no amount of love for the President is going to make this okay.

Anonymous said...

Apparently @6:57 doesn't consider Sprint (here today, ? tomorrow), UMB (huge assed lawsuits re: Zona Rosa Bonds headed their way) or AMC (lots of seats, very few butts) to be "high risk" Stocks.

Guess he'd be pretty interested in an "insider deal" on some Oceanfront Property in the Ozarks that I could get him in on before the General Public finds out about it.

Anonymous said...

I know what 6:57 meant and true some were hurt but just as well some not. Those with cash will win in the end. Smart low risk stocks will always remain more stable than high end high risk stuff. At the first hint of trouble those who have the most to lose always run out trying to sell everything they own trying to make cash when all they own is on paper only. Never ever get yourself in that position. But I noticed all you investment experts in here don't really know shit.

The Crash You Heard said...

March 9th, a date that will live in infamy.

Saudi Arabia and Russia took advantage of a weak and clueless president to suddenly attack the global oil industry today. They orchestrated a price collapse targeted to bankrupt shale companies across the US. 

US companies only break even at $50 crude. At $30, they are forced to close wells and layoff workers. Outstanding corporate debt then can't be paid and bankruptcy follows. The Saudis still make money, even if cost drop below $20. 

Unfortunately, Trump isn't even aware of the economic attack launched by his "friends". He only thinks it means cheap gas. 

No, it means company values fell drastically today on Wall Street. The sector was off 20%. Individual stocks were off as much as 50%. Midwestern states are headed to a deep recession with high unemployment. All caused by Middle Eastern and Russian oil interests that have been looking to hijack the American economy for years.

Today's actions make their 1970's oil embargo treatment of Jimmy Carter look tame in comparison. Trump will be remembered as a similar historic failure as this plays out over the next several months.

Anonymous said...

Umm...you seem really dumb. I doubt you have 2 dimes to rub together stupid Dave.

Anonymous said...

I do find liberals to be contradictory when it comes to Trump and the economy. When it was a bull market, they insisted he had nothing to do with the success, but when the market dips, it’s all his fault. Which is it? You can ride two horses with one ass.

Anonymous said...

You mean low gas prices are not good. Wall street had a tough day but main street is going to still be doing good. Their are still plenty of jobs and all this hysteria is just about politics.

Anonymous said...

Just a hiccup

Anonymous said...

Interesting how many gainers there were today on the NYSE, Nasdaq and AMEX.
Sparking the sell-off was a weekend rift between major oil producers Russia and Saudi Arabia over how to prop up crude prices. That set off an alarming slide in oil prices late Sunday, rattling investors who already worried that the spreading coronavirus could grind the global economy to a halt.
Borderline panic is taking place as uncertainty is taking place which is causing all of this. Trump isn't the cause of it anymore than Super Dave, Chuck or Tony is.
7:30 it's lowlifes such as yourself all running around yelling the sky is falling the sky is falling and Trump is to blame who only heighten the panic.
Cheap oil means cheap gas but it hurts a lot of companies like the US who produces a lot of oil. But it wasn't the US markets that cut the price of crude. But it's the US markets that are seeing the results of it being cut world wide.

Anonymous said...

11 year Bullshit market

Anonymous said...

Just like the good ol' days of Lehman Brothers

Anonymous said...

We didn't see it coming.

Brookside Bob said...

I don't claim to be an economic expert but I've seen one or two declines. I know people keep saying it but the important thing is NOT to panic.

As for the election, I voted for Trump last time but regret it. If you run on the economy, you have to take responsibility when it's down. I didn't see a lot of that today.

chuck said...

The predictable, Pavlovian, dog like IQ response from Progressives as they try to hang any and everything negative thing in the world on Trump, is a straight line reference to their myopic insistence all things MUST be seen through the prism of their self inflicted stupidity.

The fuckin idiots should complete the transformation physically and don black burqas and self flagellate themselves with copies of the Washington Post while ululating towards a picture of Elizabeth Warren.

I am sure, no doubt, that you fuckin morons were able to predict that Russia would not support the Sauds in price controls and sold short on Friday, right?

Fuck no.

Get back to watching you recordings of "The View" and flogging your dolphin to the sound of Joy Baywhor's voice and visage.

Anonymous said...

"I do find liberals to be contradictory when it comes to Trump and the economy. When it was a bull market, they insisted he had nothing to do with the success, but when the market dips, it’s all his fault. Which is it? You can ride two horses with one ass."

And yet Trump himself claims credit for the Bull Market (even the part that happened before he took office), but he's allowed to ride two horses with his one very large ass. Weird.

Anonymous said...


Dow Jones futures up 548.

Anonymous said...

The only stock that 7:30 owns is the flock of sheep he shares with Funkhouser for their deviant sexual games.

Anonymous said...

7:47, your credibility is shot when you talk about "how many gainers" there were today. Only 9 components of S&P 500 were up today.

The market had it's worst percentage loss since the start of great recession 12 years ago. Major indexes were down over 7%. That's no hiccup. Numbers are what they are. Value was lost.

The oil collapse isn't a "rift". Even if you think it's just a battle between Russia and the Saudis, you need to realize that in a global market, US Shale companies will be the collateral damage. They can't drill at $30 per barrel and will go under.

So Trump has no responsibility? Jimmy Carter was held responsible when OPEC waged a price war against the US. Voters always hold the president responsible.

I appreciate the power you gave me. Tony, Super Dave and Chuck aren't responsible for this, but "lowlifes" like myself are triggering the panic? I only wish. I'm just reporting on the markets, not moving them.

chuck said...

8:34 Well done.

Look, the Fed propped up banks and financial houses after the 2008 meltdown. At 70 years old this year, I have lived a life, where my family, my friends and my countrymen lived in fear of foreign actors killing off our energy supply. I was in lines in 1973 where people punched each other out over gas. The FED should do the same thing they did in 2008 and support the energy industry if they have to. This is a disruption, no country, dictator or nation is eager to continue selling oil at under 30 a barrel.

The market collapse today, was part Corona and part oil. The volatility will continue for the foreseeable future imo.

If this isn't a stake in the fuckin heart of Globalist-Progressives who have sold us down the river for the last 30 years, I can't imagine what would be. This is national and international prima facie that we need a strong North America that is independent of power brokers in far pavilions who with Wall Street Wallahs, Washington DC Dumb asses and Multinational movers and shakers, shake us down and sell us out.

This is, again, imo, an opportunity to disengage from the parasites who now, have us on our knees.

Anonymous said...

^^^^No welfare for corporations chuck, that’s socialism!!!!!!! Fucking hypocrite!

Anonymous said...

Ok boomer

Anonymous said...

Futures up 500. Wow.

Only 1,500 more to go to replace Monday's lost value.

And 4,000 on top of that to replace losses over the last 3 weeks.

Anonymous said...

^^^ ok, big deal, Trump will save us just like he did right after the eight year Barry disaster, it’ll be fine so quit listening to the dimwit fear and hate mongers and life will be great again!

Anonymous said...

8:58 don’t worry welfare boy, your check as well as bLIErons will still come in the mail every month, by the way, you should thank your lucky stars so many people are working thanks to Trump that your checks will remain steady as long as a dimwit isn’t in office!

Anonymous said...

It's a good time to buy stocks.

Whenever total fear has hit the market that is the time to buy.

Especially because panic and hysterical progressive liberals sell their stocks screaming "the sky is falling", "the sky is falling"!

Goldman Sachs is laughing all the way to the bank. They plant stories on the long side and then short the hell out the market and do it all over again. You just got to hang on for the ride.

Anonymous said...

^^^Spoken like someone who doesn’t have two dollars in his wallet.

Free My Willy said...

I don't take stock advice from the Internet.

But I will say that some of the best advice I've seen to day is very simple.

Do nothing.

If you're confident in your portfolio and were happy with your investments before this, the coronavirus doesn't really change much about the fundamentals of the market and most of us aren't out there speculating oil futures. The financial news this is broadcast is easily politicized. Working your job, saving what you can and living frugally is always the best advice.

Anonymous said...

9:25 is channeling Larry Kudlow. Always buy, buy, buy.

We were told last week was also a good time to buy the dip. Oops.

You can go broke trying to catch a falling knife. Some of these companies will go under.

BTW, progressive liberals selling their stocks? HAHAHAHAHAHAHA!!!!

Anonymous said...

8:34 more or less repeats what 7:47 said but had to add facts that are not true. First your credibility was shot to hell when you they said "Only 9 components of S&P 500 were up today." The S&P 500 isn't the words of GOD and not always the truth either. Sure Big Oil got hit but Dollar Tree stock was up. Dollar General didn't post to high a gain but they did lose either. 8:34 is an idiot who thinks if it isn't a S&P 500 the stock is worthless. What a dolt.

Retro ROCKER said...

There will be a dead cat Bounce .And then It will fall even more The smart money was out months ago and then shorted the market and made millions more. If you were in the market THEY STOLE YOUR MONEY. They will swoop in in a few years and buy Forclosers for 20 cents on the dollar. CASH IS KING.

Anonymous said...

^^^^32 comments made and only one 1 is correct.

Anonymous said...

Some people can't help showing their ignorance. WTF does S&P not GOD mean???

The S&P 500 is the most widely used basket of diversified mid and large cap US stocks used to measure overall performance of the US markets.

It is a FACT that out of 505 stocks in the index, only 9 were up on Monday. The other 496 were down.

https://www.barchart.com/stocks/indices/sp/sp500?orderBy=priceChange&orderDir=desc

See?

To deny the reality of this market rout (the worst trading day in 12 years) only shows the magnitude of your stupidity. Sober up before your next post.

BTW genius, Dollar Tree and Dollar General are both in the S&P 500. Who's the dolt now?

Anonymous said...

^^^^Look stupid they never said those stocks were not. So who's the dolt now?

So now 33 comments are not right

Anonymous said...

Idiots talking about the stock market and acting like they know something, that's priceless. 4:00 isn't correct either as there is 34 comments not counting this one that are not correct.

Anonymous said...

3:32, is a left-wing Democrat reveling in the economy tanking because of panic and fear instilled by the left-wing media over corona virus.

3:32 must be one of Bernie Sanders communist supporters desiring the collapse of American society and the fall of Capitalism. What a miserable individual and political party placing a communist ideology above the succes of the United States and its citizens.

Anonymous said...

And 6:04 is someone who can't respond to facts and relies on ad hominem attacks.

Anonymous said...

^^You're a retard. Hows that for ad hominem retard?

Anonymous said...

I don't know why anyone bothers with comments about market prices, stats, financial reports, or any other actual business news.

The Trump cultist doesn't understand them and refuse to believe them. As seen above, they can't even communicate a consistent thought effectively. They even deny and contradict the content of their own posts. Sad.

I guess that's why his base is mostly poor, angry, filled with grievance about being screwed over, and so devoted to a conman billionaire selling them faux populism. It useless to debate these fools since they reject reality.