Sears Holdings Corp. (SHLD) reported a first quarter adjusted loss of $1.29 per share after the close Thursday, compared to the loss of $0.51 per share a year ago. The consensus estimate was for a loss of $0.60.
Sears Holdings gapped open sharply lower Friday, but traded in a range for the bulk of the session. Shares finished down by 7.92 at $50.25, with volume at over an 8-month high. The stock dropped to a 3-week low and fell below both its 50 and 200-day moving averages.
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