There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses.
U.S. crude oil pared early losses but ended lower for a third straight session Friday, on demand growth concerns after some weak manufacturing data out of China yesterday, even as investors mulled over prospects of the U.S. Federal Reserve scaling down its quantitative easing program in the coming months....
Gold futures settled lower Friday, on some upbeat data from the U.S. with durable goods orders rebounding more than anticipated in April. The downturn in gold prices comes ahead of an extended weekend despite the dollar turning weak against some major currencies and declining global equity markets. For...
Stocks have shown a notable move to the downside in early trading on Friday amid lingering concerns about the outlook for the Federal Reserve's asset purchase program. The major averages have slid firmly into negative territory, adding to the modest losses posted in the previous session. The major averages are currently posting notable losses, near their lows for the young session.
After reporting a sharp drop in new orders for manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than anticipated in the month of April. The report said durable goods orders surged up by 3.3 percent in April after tumbling by a revised 5.9 percent in March.
After showing a substantial recovery over the course of the previous session, stocks are likely to come under pressure in early trading on Friday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 42 points.
Sporting goods retailer Hibbett Sports, Inc. Friday reported a marginal decline in first-quarter profit, citing a colder weather, which impacted its performance. Earnings per share, as well as revenues increased from last year, while missed analysts' consensus estimates.
Specialty athletic retailer Foot Locker, Inc. (FL) Friday reported higher profit and revenue for the first quarter that topped Wall Street estimates. Net income increased to $138 million from $128 million in the prior year. Earnings per share grew to $0.90 from $0.83. The company earned $104 million or $0.68 per share in the preceding quarter.
Casual apparels retailer Abercrombie & Fitch Co. reported Friday a loss for the first quarter that narrowed from last year, reflecting significantly improved gross margins amid lower product costs. Loss per share came in wider than analysts' expectations, and quarterly revenues missed their estimates. The company also slashed its earnings guidance for the full-year 2013.
Sentiment among German companies strengthened in May for the first time since February due to an improvement in current conditions, indicating that the economy remains on track despite a challenging environment. Moreover, the GfK survey forecast German optimism to reach its highest level in more than five years.
A rebound in consumer spending helped the German economy thwart recession in the first quarter of 2013, detailed data from the Federal Statistical Office revealed Friday. However, the continued fall in firms' fixed asset investment and extreme weather conditions stifled the recovery. Market research group GfK predicts further increase in consumer confidence in June.
European stocks are seen opening largely unchanged on Friday as investors ponder an early end to stimulus. Soothing market fears, two senior U.S. central bankers said that the Fed is in no hurry to start winding down its bond-buying program and policymakers have flexibility to increase the pace of bond...
Consumer goods giant Procter & Gamble Co. announced Thursday that A.G. Lafley is returning to take over the reigns of the company to succeed Robert McDonald, who is retiring on June 30 after 33 years of service. Lafley will take over as chairman, president and chief executive officer of the company, effective immediately. He has also been elected to the Board of Directors.
The FDA on Thursday granted marketing clearance for the first HbA1c test for diagnosing diabetes - COBAS INTEGRA 800 Tina-quant HbA1cDx assay, manufactured by Roche, of Basel, Switzerland.
Internet radio company Pandora Media Inc. Thursday reported a widerfirst-quarter loss, due to increased content acquisition costs and marketing expenses. Revenues surged from a year ago, on growth in mobile advertising revenues and as subscriptions gained momentum. Loss per share was in line with Wall Street estimates, while revenues exceeded exp