Check out which companies are making headlines before the bell: Foot Locker – The athletic footwear and apparel retailer earned an adjusted 62 cents per share for its second quarter, well below estimates of 90 cents a share. Revenue missed forecasts, and same-store sales fell 6 percent compared to the consensus Thomson Reuters estimate of […]
Read morePresident Donald Trump, often seizing on stock market gains as a personal victory, may now see that he can get on the market’s bad side. Stocks sold off sharply Thursday, as investors worried about a possible exodus of cabinet members and advisors and doubted his ability to push through pro-growth programs. Rumors circulated that highly […]
Read moreFoot 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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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 […]
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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, […]
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 […]
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