Target posts best comparable sales growth in 13 years, shares hit record
Target Corp reported its best comparable-sales growth in 13 years and said a strong economy lifted customer visits to the most in a decade, sending its stock to a record high on Wednesday.
Lowe’s new chief shuts Orchard stores, promises streamlining
Lowe’s Cos Inc on Wednesday promised to cut back slow-moving products and unsuccessful business projects as new Chief Executive Marvin Ellison seeks to turn around a company that has trailed bigger rival Home Depot for years.
Fiat Chrysler pressing on with Magneti Marelli spin-off, doesn’t comment report
Fiat Chrysler (FCA) is pressing ahead with the spin- off of its parts maker Magneti Marelli, a spokesman confirmed in Wednesday after reports investment firm KKR was in talks to acquire the unit.
Credit Suisse freezes $5 billion of Russian money due to U.S. sanctions
One of Switzerland’s largest banks, Credit Suisse, has frozen roughly 5 billion Swiss francs ($5 billion) of money linked to Russia to avoid falling foul of U.S. sanctions, according to its accounts, further increasing pressure on Moscow.
Trump, trade, Fed take sheen off S&P’s longest bull run
The S&P 500 marked its longest bull-market run with a dip on Wednesday as President Donald Trump’s political position was threatened by the legal woes of two former advisers and ahead of trade talks and the Federal Reserve’s minutes.
U.S. job gains in year through March likely to be revised up by 43,000
The U.S. economy likely created 43,000 more jobs in the 12 months through March than previously estimated, the Labor Department said on Wednesday.
Target’s second-quarter profit, sales top estimates, shares soar
Target Corp reported quarterly sales and profit that beat estimates as a strong economy lifted customer visits to the most in a decade, sending its shares up more than 5 percent.
Trump legal woes and trade talks cause nerves while EM enjoys respite
Stocks faltered and bonds rose on Wednesday as U.S. President Donald Trump’s political position was threatened by the criminal convictions of two former advisers, while the U.S. dollar headed for its sixth straight day of losses.
Nike stores closed in South Africa amid outcry over racist web post
Some Nike stores were closed in South Africa on Wednesday after public outcry over a racist comment by a man that local media said had links to the sportswear company.
S&P 500 bull market now arguably the oldest ever
The S&P 500’s bull market turned 3,453 days old on Wednesday, making it the longest such streak in history, according to some investors’ definition.
