Foot Locker shares plummeted by 19 percent in the premarket Friday after the company’s quarterly results missed expectations by a wide margin. The athletic apparel retailer posted adjusted earnings per share of 62 cents on revenue of $1.701 billion for the second quarter. Analysts polled by Thomson One expected the company to report earnings per […]
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Tech stocks have a problem. On Thursday, as the S&P 500 fell 1.54 percent to suffer its second-worst day of 2017, tech stocks led the way lower, with the S&P’s information technology sector dropping 1.98 percent. While tech remains one of the best-performing areas of the market, some say the outlook for the group will […]
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Retail stocks have been badly punished this year, but Todd Gordon of TradingAnalysis.com sees opportunity in the hammered group. Examining a chart of the SPDR S&P Retail ETF (XRT), Gordon spots “support” at around the $38.50 level, which is roughly where it closed on Thursday. So long as the ETF manages to hold that level, […]
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An investment strategy made popular by Warren Buffett could be back in vogue soon, according to Strategas Research Partners. In a note to clients Thursday, Strategas pointed out that returns stemming from growth investment strategies have reached a point where they could start to underperfom. This opens the door for value investment strategies, which have […]
Read moreVishal Sikka, the chief executive brought in to turn around India’s Infosys three years ago, resigned suddenly on Friday, blaming a “continuous drumbeat of distractions” and a long-running row with founders over the tech firm’s strategy. The departure of Sikka, who was the first chief technology officer (CTO) at German software firm SAP, spooked Infosys’ […]
Read moreNo matter what scenario plays out for North Korea – the status quo, the good or the ugly – South Korea‘s currency appears set to remain under a cloud, analysts at Nomura said in a note on Friday. Tensions over the development of the North’s nuclear missile program have cooled this week, after last week’s […]
Read moreAlibaba shares could see a 34 percent rally with the company’s cloud division driving a “re-rating” of the stock, analysts said, following strong earnings from the Chinese tech titan. On Thursday, Alibaba reported fiscal first quarter revenue of $7.51 billion, a 56 percent year-on-year rise, helping it to beat market expectations. Strength in the core […]
Read moreThe Chinese government is moving to tackle high debt levels, but the country is still borrowing more, Deutsche Bank said in a report released Thursday. That’s because short-term consumer debt in China has begun to surge as authorities try to alleviate the high levels of corporate indebtedness. The redistribution comes as Beijing is trying to […]
Read moreInfosys Ltd, in a surprise announcement, said Vishal Sikka has resigned as CEO citing a stream of distractions and disruptions in recent months, pushing down shares of the second-largest Indian IT services firm almost 8 percent on Friday. U.B. Pravin Rao, Infosys’ chief operating officer, was named interim managing director and chief executive. Rao will […]
Read moreA manhunt is underway in Spain as police search for the driver of a van that plowed into pedestrians on Barcelona’s busiest boulevard Thursday, leaving at least 13 people dead and more than 100 injured. The perpetrator was seen escaping on foot after deliberately driving into crowds of people on Las Ramblas, at around 5:30 […]
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