Markets

Sears posts 1Q profit

HOFFMAN ESTATES, Ill. (AP) — Sears Holdings Corp. is reporting first-quarter net income of $244 million, after reporting a loss in the same period a year earlier.<p>The Hoffman Estates, Illinois, company said it had net income of $2.28 per share. Losses, adjusted for one-time gains and costs, came to …

Best Buy earnings beat estimates on higher online sales

Best Buy, the electronics retailer, said Thursday its fiscal first quarter earnings fell due to higher cost of goods, but online sales drove revenue higher.<p>Net income from continuing operations tumbled 17% to $188 million.<p>But adjusted earnings per share of 60 cents handily beat the 40 cents …

Best Buy

Britannia Industries Q4 profit up 6 percent

REUTERS - Biscuit maker Britannia Industries Ltd on Thursday reported a six percent rise in fourth-quarter consolidated profit.<p>Consolidated profit came in at 2.11 billion rupees ($32.65 million), compared with 1.99 billion rupees a year earlier, the company said in a statement. …

India

Royal Bank of Canada's quarterly earnings beat market forecasts

TORONTO (Reuters) - Royal Bank of Canada <RY.TO> reported an 11 percent increase in second quarter earnings, beating market forecasts, helped by a strong performance in its capital markets and wealth management businesses.<p>Canada's biggest lender by assets and market value on Thursday said earnings …

Bay Street

Abercrombie loss widens, but Hollister remains a bright spot

NEW ALBANY, Ohio (AP) — Abercrombie & Fitch Co.'s loss widened in its first quarter as revenue fell, but strong sales at its surf-inspired Hollister chain offset a continued decline at the teen retailer's namesake brand.<p>The company also said it expects its results to improve in the second half of …

Abercrombie & Fitch

Amazon Shares Primed to Eclipse $1,000 Mark

Amazon stock is primed to eclipse an all-time high price per share.

Market Cap

MARKET SNAPSHOT: S&P 500, Nasdaq In Record Territory As Stock Market Aims For 6-day Win Streak

Best Buy shares jump after earnings<p>The S&P 500 and Nasdaq Composite traded in record territory on Thursday as U.S. stocks advanced for a sixth straight session, thanks in part to big gains in shares of Best Buy after quarterly results.<p>The S&P 500 index rose 10 points, or 0.5%, to 2,415, after …

S&P 500

Forex - Sterling pares gains after UK GDP revised lower

Investing.com - The pound pared back gains against the dollar on Thursday after data showing that Britain’s economic growth in the first quarter was …

Foreign Exchange Market

Sears revenue continues decline amid tough landscape

Sears' extended decline in sales continued during the first quarter and the storied retailer vowed additional spending cuts to offset its slowing business.<p>The company reported a loss of $222 million, or $2.15 per share on weak sales. The company has been closing stores and selling brands long …

Business

Disney CEO on why Pandora is so 'powerful' - Video - Business News

CEO Bob Iger tells CNN's Christine Romans why "Pandora: World of Avatar" is the most advanced attraction Disney has ever created.

Walt Disney Company

Pure Surges, NTAP Rising, Debating HP, More iPhone Delay Rumors

Pure Storage surges 12% as price targets rise on the storage vendor's big quarterly earnings beat, HP slips even though it had what it calls a …

Apple

Royal Bank of Canada's Earnings Rise -- Update

Royal Bank of Canada's sales and profit handily topped expectations in the second quarter, led by gains in its fee-based businesses.<p>Net interest income increased 4.2% to 4.2 billion Canadian dollars while noninterest income climbed 11% to C$6.11 billion.<p>Toronto-based RBC, Canada's largest lender by …

Bay Street

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA)

Reuters/Ueslei Marcelino<p>Here is what you need to know.<p><b>The Fed talks balance-sheet reduction.</b> Minutes from the May Federal Open Market Committee meeting released Wednesday show the Federal Reserve plans to unwind its massive balance sheet by gradually increasing limits on the dollar amounts of …

Business

Retailers rebound to boost S&P, Nasdaq to record highs | Reuters

By Tanya Agrawal<p>U.S. stocks rose on Thursday, with the S&P 500 and Nasdaq Composite scaling new highs, buoyed by strong earnings reports from the …

S&P 500

Pure Storage shares surge as it beats profit and sales forecasts

Flash storage provider Pure Storage Inc. beat back doubts about its growth today, reporting better-than-expected first fiscal-quarter profit and …

Tech Industry

Chromebooks, detachables, and gaming PCs boost Lenovo results

The PC giant said revenue grew in the fourth quarter, but was down for a year it described as one of 'significant transformation'.<p>Lenovo said that …

Lenovo

Wells Fargo sweeting broker signing bonuses - WSJ

Going against the grain of competitors like Merrill Lynch and Morgan Stanley - which both are retreating from the standard industry recruiting …

Business

Best Buy Soars After Nintendo Switch Helps Bring Surprise Growth - Bloomberg

Best Buy Co. got a boost from Super Mario in the first quarter, as demand for Nintendo Co.’s new Switch game console helped the retailer post a …

Business

Journeys, Lids Parent Genesco's Stock Plunges Toward 6-year Low After Profit And Sales Miss

Shares of Genesco Inc. plunged 12% toward a 6-year low in premarket trade Thursday, after the casual apparel, footwear and hat retailer missed profit and sales expectations, and cuts its full-year outlook. Net profit for the quarter to April 29 fell to $885,000, or 5 cents a share, from $10.4 …

Bitcoin bonanza and Dollar Tree earnings: Here's what could drive markets Thursday

As the S&P 500 narrowly closed at a record high, here are the three market themes that macro strategist Boris Schlossberg of BK Asset Management will …

Dollar Tree

In GDS battles for market share, size isn't everything

It might be tempting to suggest that Gordon Wilson is downplaying the importance of GDS market share because, as CEO of Travelport, he runs the GDS …

Asia Pacific

What every Canadian investor needs to know today

Equity Markets<p>Canada’s main stock index opened higher on Thursday, boosted by earnings that beat market expectations at three of the country’s biggest banks.<p>The Toronto Stock Exchange’s S&P/TSX composite index was up 70.67 points, or 0.46 per cent, to 15,490.16 shortly after the open. The …

U.S. Treasury

IOC March-quarter profit jumps 85 percent | Reuters

Indian Oil Corp (IOC.NS) said on Thursday net profit rose 85 percent in the fourth quarter, in line with analysts' expectations, as revenue from …

Profit

France stocks lower at close of trade; CAC 40 down 0.08%

Investing.com – France stocks were lower after the close on Thursday, as losses in the Oil & Gas, Basic Materials and Healthcare sectors led shares …

Stock Markets

Fang Holdings -2.7% as UBS heads to sideline

Fang Holdings (NYSE:SFUN) is off 2.7% premarket after getting cut to Neutral at UBS.<p>Analyst Ming Xu had had the Chinese Web portal at Buy …

Business

FTSE Moves: Top flight shares struggle for direction amid downbeat UK growth data

London-listed budget Wizz Air was the best performer in the second tier after reporting record profit, up 28% to €246m.<p>Blue chip shares struggled for …

Why Sears Holdings Shares Soared Today

First-quarter results weren't as bad as many had feared.<p>What happened<p>Shares of <b>Sears Holdings</b> (NASDAQ:SHLD) have soared today, up by 11% as of 1:20 …

Stocks

Citi on Canada: A solid outlook, a housing correction, a loonie that won't hit par

Briefing highlights<p>A look at Citi's Canadian outlook<br>• Bank sees Toronto housing correction<br>• Loonie to rise, but won't reach parity<br>• Global stock markets on the rise<br>• New York poised for stronger open<br>• Loonie just below 74.5 cents<br>• Markets await OPEC decision<br>• Profits up at RBC, CIBC, TD<br>• TD sees no widespread …

Mortgages

Sears Posts First Profit Since 2015

Sears shares rose by as much as 27 percent in early trading after the company posted its first quarterly profit since 2015, bringing a ray of optimism to a retail chain struggling to regain its relevance.<p><b>NEW YORK, United States</b> — Shares in Sears Holdings Corp. rallied after posting its first …

Automotive Retailers See Dismal Earnings Season (AAP, AZO)

Automotive retailers like Advance Auto Parts Inc. (AAP) and AutoZone Inc. (AZO) are reporting dismal results this earnings season citing a number of …

Stocks