With spending on public construction showing a substantial decrease, the Commerce Department released a report on Friday showing that U.S. construction spending unexpectedly saw a sharp drop in the month of June.
Activity in the U.S. manufacturing sector expanded at a notably faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday, with the index of activity in the sector climbing to a three-year high.
Consumer sentiment in the U.S. deteriorated by less than previously estimated in the month of July, according to a report released by Thomson Reuters and the University of Michigan on Friday.
After moving sharply lower over the course of the previous session, stocks are showing a lack of direction in early trading on Friday. The major averages have been bouncing back and forth across the unchanged line, unable to sustain any significant moves.
Consumer products company Clorox Co. on Friday reported a 7 percent decline in profit for the fourth quarter from last year, reflecting the impact of unfavorable foreign currency exchange rates and higher costs. Both revenue and earnings per share for the quarter missed analysts' expectations. However, the company affirmed its financial outlook for fiscal 2015.
Personal income and spending in the U.S. both increased in line with economist estimates in the month of June, according to a report released by the Commerce Department on Friday.
After reporting a sharp jump in U.S. employment in the previous month, the Labor Department released a report on Friday showing that employment rose by less than expected in the month of July. The report said non-farm payroll employment increased by 209,000 jobs in July.
Integrated energy company Chevron Corp. reported Friday a profit for the second quarter that grew from last year, despite lower production, reflecting a revenue growth amid higher sales price. The company also said gains from asset sales also contributed to the results. Both earnings per share and quarterly revenues topped analysts' expectations.
After pointing to continued weakness on Wall Street earlier this morning, stock futures have regained some ground following the release of the monthly jobs report. The major index futures are currently pointing to only a modestly lower open, with the Dow futures down by just 10 points.
Consumer goods giant Procter & Gamble Co. reported Friday a profit for the fourth quarter that grew 38 percent from last year, reflecting improved operating margins amid lower expenses. Core earnings per share topped analysts' expectations, but quarterly sales missed their estimates.The company also provides guidance for core earnings and organic sales growth guidance for the full-year 2015.
British manufacturing sector logged its weakest growth in a year in July as growth in output and new orders eased from June, the results of a survey by Markit Economics and the Chartered Institute of Purchasing and Supply showed Friday. The Makit/CIPS manufacturing Purchasing Managers' Index fell to 55.4 in July from a revised 57.2 in June.
Scientific Games Corp. (SGMS) and Bally Technologies, Inc. (BYI) Friday said they have entered into a definitive merger agreement for Scientific Games to acquire all of the outstanding Bally common stock for $83.30 per share in cash.
Hilton Worldwide Holdings, Inc. reported Friday higher profit in its second quarter, boosted by strong revenue results in all its segments. Further, the company hospitality firm lifted its forecast for fiscal 2014 earnings per share and adjusted EBITDA, a key earnings metric.
There seems to be no respite for Wall Street on Friday, as the futures point to a notably lower opening. Notwithstanding positive Chinese manufacturing data, Asian stocks succumbed to a sell-off on Wall Street overnight. The not-so-inspiring domestic earnings and lukewarm economic data amid the macroeconomic...
Smith & Nephew Plc reported Friday a decline in second-quarter profit on higher expenses, even as revenues were benefited mainly by acquisitions and strong growth in emerging & International Markets. Further, the company announced higher dividend. Looking ahead, the medical technology company said it remains confident in its overall Group outlook for the full year.