- Scores of companies in nearly 200 public filings have cautioned investors that their businesses could suffer from the government shutdown, now in its ninth day.
- J.C. Penney (JCP), Wolverine World Wide (WWW) and Humana (HUM), for example, all warned this week of potential bottom-line consequences of federal furloughs and agency closures; corporate M&A plans also appear to be on hold as executives await a return to normal.
- Every week the government is closed trims economic output by ~$1.6B, or 0.16 percentage point for the quarter, according to research firm IHS, and "if the shutdown drags on, the effects will start to add up."
- The last fight, in 1995-96, impacted consumer confidence; with the year-end shopping season approaching, that's critical, especially for retailers.
- ETFs: RTH, PMR, XRT, RETL, XLP, VDC, FXG, IYK, PSL, RHS, PSCC, UGE, SZK, XLY, VCR, FXD, IYC, PEZ, RCD, PSCD, UCC, SCC.
CFO warnings about government shutdown accelerate
Oct 9 2013, 18:50 ET