Retailers are reporting April same-store sales today and it looks like the predictions for modest growth will come true. Research firm Retail Metrics Inc. forecast that same-store sales would grow by just 1.5%, citing…
At an energy conference in Paris today, the secretary general of OPEC, Abdalla Salem el-Badri, said that the cartel is “not happy” with crude oil prices in the $110-$130/barrel range and that OPEC is…
The major US stock indexes opened lower this morning following dismal reports from Europe on manufacturing (our coverage here) and unemployment (more coverage here). The ADP report on US unemployment provided more gloomy news…
Another shoe dropped for Arch Coal Inc. (NYSE: ACI) today as Fitch Ratings has lowered the company’s credit rating to ‘B+’, four notches below investment grade. The rating follows yesterday’s quarterly earnings report from…
Rumor About Ubiquiti Networks Appears To Be False… Editor’s Note: 24/7 Wall St. has received new information regarding the allegations about Ubiquiti Networks Inc. (NASDAQ: UBNT) from representatives of the company related to a…
Internet retailer Amazon.com Inc. (NASDAQ: AMZN) has announced that it plans to expand its offerings of original programming to include comedy shows and kids programming, in addition to its existing 15 shows in development…
Retailing giant Target Corp. (NYSE: TGT) will discontinue selling the Kindle family of tablets and e-readers by this summer. The Kindle devices are made by Amazon.com Inc. (NASDAQ: AMZN), and include the Kindle Fire…
The US Energy Information Administration (EIA) released its weekly petroleum status report this morning. US commercial crude inventories increased by 2.8 million barrels last week, bringing the total US commercial crude inventory to 375.9…
Comcast Corp. (NASDAQ: CMCSA) reported first quarter earnings this morning that were better than analysts expectations, but a drop in video subscribers and a smaller-than-expected gain in voice subscribers are weighing on the stock.…
Gold has been trading in a fairly narrow range between $1,600-$1,700/ounce for the past two months after ending 2011 at around $1,525/ounce. Gold prices spiked to near $1,800/ounce in February, but none of this…
Natural gas producer Chesapeake Energy Corp. (NYSE: CHK) reported first quarter results after the markets closed yesterday. The company missed the headline numbers, but that’s not the company’s biggest problem. That would be CEO…
nationsonline.orgThere are two data sets out today that, taken separately or together, paint a dark picture of Europe’s economy. The first is the unemployment report from Eurostat, the Eurozone’s official data source. The second…
The major US stock indexes opened flat this morning but started to move higher following the better-than-expected ISM report on manufacturing (our coverage here). Construction spending in the US was a bit lower, but…
On April 26th, Gores Group LLC asked Pep Boys – Manny, Moe & Jack (NYSE: PBY) to delay a special shareholders meeting by 30 days in order to give the private equity firm time…
Veeco Instruments Inc. (NASDAQ: VECO) makes production equipment for LEDs and solar panels, so analysts weren’t too eager to forecast good news for the company’s first quarter. But after markets closed yesterday, Veeco reported…
Car rental firm Avis Budget Group Inc. (NASDAQ: CAR) revised its first quarter and full-year forecasts sharply this morning, putting a bit of fuel in the tanks of competitors Hertz Global Holdings Inc. (NYSE:…
The Institute for Supply Managment (ISM) has released its purchasing manager’s index (PMI) for April showing a rise of 1.4% in the index, from 53.4% in March to 54.8% in April. An index reading…
Aubrey McClendon, chairman and CEO of Chesapeake Energy Corp. (NYSE: CHK), will relinquish his chairman’s role as soon as the company’s boards appoints a new non-executive chairman. The announcement said only that a new…
No one was expecting much from Arch Coal Inc. (NYSE: ACI) when it reported first-quarter results this morning. And that’s just what investors got. The company reported an adjusted EPS loss of -$0.04, way…
Some fast backpedaling by Korea’s LG Electronics has apparently stopped the claim by a Korean newspaper that the electronics giant is ditching Microsoft Corp. (NASDAQ: MSFT) and the US company’s Windows Phone products. The…