Fashion retailer Gap Inc. said Thursday after the markets closed that its second quarter profit rose 10% from last year, helped by higher sales and a gain from asset sale. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarter sales. Separately, Gap announced plans to enter India through franchise-operated Gap brand stores in 2015.
Ross Stores Inc. (ROST) Thursday said its second-quarter profit improved from a year ago, as the discount apparel retailer's revenue grew above expectations with operating costs declining. Earnings for the quarter trumped Wall Street estimates. Moving ahead, the retailer lifted its full year outlook,...
Accounting software maker Intuit said its loss for the fourth quarter widened, hurt by expenses, and provided weak guidance for the current quarter and full year.
While buying interest was somewhat subdued, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day extended the recent upward trend by the markets, lifting the S&P 500 to a new record closing high.
Republicans have not found much to like about President Barack Obama's nearly six years in office, but the results of a new Washington Post-ABC News poll show that a vast majority support the president's decision to launch airstrikes in Iraq.
U.S. crude oil ended higher on Thursday, supported by a slew of positive economic data from the U.S. and on the bullish supply data yesterday. Economic data out of the U.S. showed initial claims for unemployment benefits declined more than expected with existing home sales also rising beyond expectations.
Gold futures slipped for a fifth day to end at a two-month low on Wednesday, giving rise to fears of an early tightening of the monetary policy after a slew of upbeat economic data out of the U.S. with initial claims for unemployment benefits declining more than expected and existing home sales also...
While stocks have largely maintained a positive bias over the course of the trading day on Thursday, the major averages are turning in a mixed performance in mid-day trading. The S&P 500 has reached a new record intraday high and the Dow has climbed back above 17,000, while the tech-heavy Nasdaq is posting a modest loss.
Suggesting that the economy is gaining traction, the Conference Board released a report on Thursday showing a bigger than expected increase by its index of leading U.S. economic indicators in July.
Results of a survey released by the Federal Reserve Bank of Philadelphia on Thursday showed that regional manufacturing activity unexpectedly grew at an accelerated rate in the month of August, with the index of activity in the sector reaching a three-year high.
Existing home sales in U.S. unexpectedly rose to a ten-month high in the month of July, according to a report released by the National Association of Realtors on Thursday. NAR said existing home sales climbed to a seasonally adjusted annual rate of 5.15 million in July from a downwardly revised 5.03 million in June.
With traders digesting a slew of largely upbeat U.S. economic data, stocks have moved mostly higher in early trading on Thursday. The gains on the day have lifted the Dow back above 17,000, while the S&P 500 has reached a new record intraday high.
Bank of America Corp. said Thursday that it has agreed to pay $16.65 billion to settle probes by the Justice Department and several states into the company's sale of mortgage-backed bonds in the run-up to the 2008 financial crisis. The settlement amount is the largest ever reached by the U.S. government with a single company and surpasses the $13 billion paid by JPMorgan Chase & Co. in 2013.
Family Dollar Stores, Inc., one of the largest retail discount chain in the U.S., announced Thursday that its board has unanimously rejected the non-binding proposal made by larger discount retailer Dollar General Corp., on the basis of antitrust regulatory considerations. Meanwhile, the board unanimously reaffirmed its recommendation in support of the merger agreement with Dollar Tree, Inc.
Initial jobless claims in the U.S. fell by slightly more than expected in the week ended August 16th, according to a report released by the Labor Department on Thursday. The Labor Department said jobless claims dropped to 298,000, a decrease of 14,000 from the previous week's revised level of 312,000.