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The industry’s focus continues to remain set on the labor market, as the latest jobless claims report posts filings increased in the week ending May 7. Jobs are in the spotlight since it’s a significant factor in whether or not the Federal Reserve will raise interest rates. …read more
From:: Real Estate Wire
The industry’s focus continues to remain set on the labor market, as the latest jobless claims report posts filings increased in the week ending May 7. Jobs are in the spotlight since it’s a significant factor in whether or not the Federal Reserve will raise interest rates. …read more
From:: Real Estate Wire
The industry’s focus continues to remain set on the labor market, as the latest jobless claims report posts filings increased in the week ending May 7. Jobs are in the spotlight since it’s a significant factor in whether or not the Federal Reserve will raise interest rates. …read more
From:: Real Estate Wire
Sears Holdings Corp. said Thursday that it will open a smaller-sized appliance-focused store in Ft. Collins, Colo. on May 19. There are additional stores planned, according to Sears, but location and timing are not yet being provided. The 10,000-square-foot store will feature a 122-inch digital display to show how a kitchen will look with new appliance purchases at full scale, tablets to aid customers in their shopping and a variety of shipping and pick-up options. Sears shares are down 4.9% in Thursday trading, and down 71.4% for the past year. The S&P 500 is down 1.7% for the last 12 months.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Just when you thought mortgage rates couldn’t fall any lower, they did. This marks the third consecutive week of declines, with mortgage rates now at their low point in three years. Check out this chart for a better understanding of how much mortgage rates have tumbled. …read more
From:: Real Estate Wire
Channel checks at Abercrombie & Fitch Co. stores show that managers at Hollister are more upbeat than those at Abercrombie & Fitch shops, Wedbush said in a Thursday note. Analysts visited 40 Hollister stores and 40 Abercrombie & Fitch stores, and found that 24 Abercrombie & Fitch stores fell below planned quarterly sales goals. Some Abercrombie & Fitch store managers saw benefits from better fashions and inventory control while others thought fewer promotions were having a negative impact. “Some however noted that larger offerings online of petite and tall sizes were a plus for attracting older customers,” the Wedbush note said. Analysts expressed skepticism about Abercrombie’s efforts to reach this older demographic and concern about the brand’s lagging acceptance in the U.S. Hollister managers were upbeat about spring purchasing, attributed to better year-over-year fashion assortment. And seven Hollister stores launched the Club Cali rewards program, which analysts said would help the chain maintain momentum. Abercrombie shares are down 0.7% in premarket trading, and down 10.9% for the year to date. The S&P 500 is up 1% for the year so far.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
U.S. stocks opened higher on Thursday, boosted by strong gains in oil prices, after the International Energy Agency said it sees a “dramatic reduction” in the supply glut later this year. But a larger-than-expected rise in weekly jobless claims weighed on risk appetite, as it suggested that the pace of hiring has slowed. The S&P 500 added 7 points, or 0.3%, to 2,071. The Dow Jones Industrial Average rose 60 points, or 0.3%, to 17,767 at the open. Meanwhile, the Nasdaq Composite began the session up 14 points, or 0.3%, at 4,774.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
CPI Card Group Inc.’s stock plummeted 44% toward a record low in premarket trade Thursday, after the chip card maker missed profit and sales expectations, and provided a downbeat outlook. The disappointing results prompted analyst David Koning at Robert W. Baird to downgrade CPI to neutral from outperform, and cut the stock price target to $4 from $14. CPI reported late Wednesday earnings of $5.7 million, or 10 cents a share, compared with a loss of $6.4 million, or 16 cents a share, in the same period a year earlier. Adjusted earnings per share of 13 cents missed the FactSet consensus of 14 cents. Sales rose to $86.4 million from $77.3 million, but missed expectations of $88.2 million. For 2016, the company said it expects sales of $335 million to $355 million, well below the FactSet consensus as of the end of April of $436.4 million. The company blamed “much greater than anticipated” unissued card inventories at large issuers and evidence of “slower than anticipated” conversions for small to mid-sized issuers. “The magnitude of the guide down [for sales] leaves questions about whether there is any visibility,” Koning wrote in a note to clients. The stock is changing hands at $4.10 ahead of the open, which is 57% below the initial public offering price of $10. CPI went public on Oct. 9, just eight days the use of chip cards was supposed to become a requirement.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
CPI Card Group Inc.’s stock plummeted 44% toward a record low in premarket trade Thursday, after the chip card maker missed profit and sales expectations, and provided a downbeat outlook. The disappointing results prompted analyst David Koning at Robert W. Baird to downgrade CPI to neutral from outperform, and cut the stock price target to $4 from $14. CPI reported late Wednesday earnings of $5.7 million, or 10 cents a share, compared with a loss of $6.4 million, or 16 cents a share, in the same period a year earlier. Adjusted earnings per share of 13 cents missed the FactSet consensus of 14 cents. Sales rose to $86.4 million from $77.3 million, but missed expectations of $88.2 million. For 2016, the company said it expects sales of $335 million to $355 million, well below the FactSet consensus as of the end of April of $436.4 million. The company blamed “much greater than anticipated” unissued card inventories at large issuers and evidence of “slower than anticipated” conversions for small to mid-sized issuers. “The magnitude of the guide down [for sales] leaves questions about whether there is any visibility,” Koning wrote in a note to clients. The stock is changing hands at $4.10 ahead of the open, which is 57% below the initial public offering price of $10. CPI went public on Oct. 9, just eight days the use of chip cards was supposed to become a requirement.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Ralph Lauren Corp. shares were up 3% in Thursday premarket trading after the luxury apparel and accessories company reported fourth-quarter earnings that beat estimates. Ralph Lauren reported net income of $41 million, or 49 cents per share, down from $124 million, or $1.41 per share, for the same period last year. Adjusted earnings were 88 cents per share, exceeding the FactSet consensus of 83 cents. Revenue for the quarter totaled $1.87 billion, down from $1.89 billion last year, but above the FactSet consensus of $1.86 billion. The company’s board authorized an additional $200 million stock repurchase program, in addition to the remaining $100 million available at the end of the fourth quarter from the previous program. Ralph Lauren will provide first-quarter and full-year fiscal 2017 guidance at its investor day event on June 7. Company shares are down 36.6% for the past year while the S&P 500 is down 1.7% for the same period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News