Abercrombie & Fitch Co
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Stocks closed lower for a third session, as markets remain worried the Federal Reserve may start withdrawing stimulus by curtailing bond purchases later this year.
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NEW YORK, May 24- The S&P 500 declined for a third day on Friday, with the three major U.S. stock indexes posting their first negative week since mid-April on lingering concern that the U.S. central bank may scale back its stimulus measures to support the economy.
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Stocks closed lower for a third session, as markets remain worried the Federal Reserve may start withdrawing stimulus by curtailing bond purchases later this year.
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NEW YORK, May 24- U.S. stocks mostly declined for a third day on Friday, putting indexes on track for their first negative week since mid-April, on lingering concern that the U.S. central bank may scale back its stimulus measures to support the economy. The Dow edged into positive territory by late afternoon trading, buoyed by a 4 percent gain in Procter& Gamble.
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Same-store sales dropped at Abercrombie & Fitch in its first quarter. Stacey Widlitz of S.W. Retail Advisors, discusses how to play the stock now. And Sapna Maheshwari of BuzzFeed explains her claim that top execs at the retailer are concerned about its CEO's amount of power within the company.
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NEW YORK-- A look at the 10 biggest percentage decliners on New York Stock Exchange at 1 p.m.:. Abercrombie& Fitch Co. fell 10.0 percent to $48.94. Gamestop Corp. fell 9.7 percent to $32.50.
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NEW YORK, May 24- U.S. stocks fell for a third day on Friday, putting indexes on track for their first negative week since mid-April, on lingering concern the U.S. central bank may scale back its stimulus measures to support the economy.
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The chain's revenue also missed Wall Street's view, and it lowered its full-year earnings forecast. Shares of Abercrombie, which is still fighting off backlash from some comments CEO Mike Jefferies made seven years ago that recently went viral, dropped $5.23, or 9.6 percent, to $49.14 in midday trading.
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NEW YORK, May 24- U.S. stocks fell for a third day on Friday, putting indexes on track for their first negative week since mid-April, on lingering concern the U.S. central bank may scale back its support to the economy.
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May 24- Abercrombie& Fitch Co on Friday reported a steeper-than-expected drop in first-quarter comparable sales, blaming inventory shortages, and slashed its profit forecast, sending the teen clothing retailer's shares down 10 percent.
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The S&P 500 is down one percent for the week after being up four weeks in a row. So far, the declines we have seen this year have been on the order of three percent.
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*Durable goods orders rise more than expected. NEW YORK, May 24- U.S. stocks fell for a third day on Friday amid lingering concern the U.S. central bank may scale back its support to the economy.
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NEW YORK-- Abercrombie& Fitch became the latest retailer to release a disappointing outlook and shares tumbled 10 percent in early trading Friday after the company posted first-quarter earnings. For the period ended May 4, Abercrombie& Fitch Co. lost $7.2 million, or 9 cents per share.
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NEW YORK, May 24- U.S. stocks were set to open lower on Friday, setting up Wall Street for its first weekly decline since mid April, amid concern the U.S. central bank may scale back its support to the economy.
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U.S. futures pointed to a mixed to lower open on Wall Street on Friday, as markets continue to digest when the Federal Reserve may begin to reduce its bond-buying program.
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May 24- Abercrombie& Fitch Co on Friday reported a steeper-than-expected drop in quarterly comparable sales, in part because of inventory shortages, and the teen clothing retailer's shares fell more than 11 percent.
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NEW YORK, May 24- U.S. stock index futures fell on Friday, setting up Wall Street for its first weekly decline since mid April, amid concern the central bank may scale back its support to the economy.
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For the first quarter ended May 4, the teen clothing retailer said its loss narrowed to $7.2 million, or 9 cents per share, from $21.3 million, or 25 cents per share, a year earlier.
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May 22- American Eagle Outfitters Inc on Wednesday reported a decline in first-quarter sales as its young customers cut back on spending, and the teen retailer does not expect sales to pick up in the current quarter.
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The best performing U.S. stocks in the current quarter are those that lagged the market from January to March, according to an analysis by Bespoke Investment Group,the FT reports.
