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Major retail chains reported sales increases for May that were generally in line with Wall Street's expectations, suggesting consumer spending continues to improve moderately.
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June 11- Two affiliates of failed U.S. electric-car maker Coda Automotive filed for chapter 11 bankruptcy protection on Tuesday, according to court documents, in another sign of the challenges facing the "green" car industry.
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NEW YORK, June 6- Major U.S. retail chains, including Costco Wholesale Corp and Victoria's Secret, on Thursday reported sales increases for May that suggested consumer spending continues to improve moderately.
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*Ciena shares soar after results, J.M. Smucker drops. NEW YORK, June 6- U.S. stock fell for a third straight day on Thursday, with the Dow dropping more than 100 points and the S&P 500 slipping below its 50- day moving average as investors turned cautious on the day before the monthly payrolls report.
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NEW YORK, June 6- U.S. stock were flat on Thursday, failing to hold onto a rebound off a steep two-day decline after European Central Bank President Mario Draghi ruled out more aggressive actions to stimulate the region's economy.
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*L Brands, Costco misses slightly. NEW YORK, June 6- Major U.S. retail chains including Costco Wholesale Corp and Victoria's Secret on Thursday reported sales increases for May that were generally in line with Wall Street's expectations, suggesting consumer spending continues to improve moderately.
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Check out which companies are making headlines after the bell Wednesday:
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Stocks closed down 1 percent after the minutes from the last Fed policy setting meeting suggested the central bank could begin tapering bond purchases sooner than the market expects.
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While 94 percent of the companies in the Standard & Poor's 500 Index have already reported quarterly earnings, this week remains a key week for the retail industry with 24 retailers reporting earnings—12 of which are S&P 500 components.
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It's good to remember that some turnarounds have happy endings. For retailer Gap, the current outcome is a positive one as investors are again falling into the Gap.
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Wall Street analysts got ahead of themselves with upbeat expectations, said AlixPartners' Managing Director Steve Nevill, noting that unemployment remained high, and consumers were still worried about their prospects.
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Initial claims for state unemployment benefits fell 4,000 to a seasonally adjusted 323,000, the lowest level since January 2008, the Labor Department said on Thursday.
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A number of top U.S. retailers reported disappointing April sales as consumers gravitated toward discount chains and bad weather delayed spring shopping in much of the country.
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*Costco, L Brands miss estimates. May 9- Costco Wholesale Corp and Victoria's Secret parent L Brands Inc reported smaller-than-expected sales gains in April, when consumer mood swooned on concerns about the job market recovery.
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WASHINGTON, May 9- The number of Americans filing new claims for jobless aid fell last week to its lowest level in nearly 5-1/ 2 years, signaling labor market resilience in the face of fiscal austerity. The claims data provide another set of confirmation that the labor market is healing, "said Michael Strauss, chief economist at Commonfund in Wilton, Connecticut.
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*Buckle, Zumiez shares rise as sales top views. That was less than the 4.3 percent increase Wall Street expected. Wall Street got ahead of itself with upbeat expectations, said AlixPartners' Managing Director Steve Nevill, noting that unemployment remained high and consumers were still worried about their prospects.
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The filing with U.S. Bankruptcy Court in Delaware will allow the Los Angeles company to exit the auto sector and refocus on energy storage, a far less capital-intensive business.
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The filing with U.S. Bankruptcy Court in Delaware will allow the Los Angeles company to exit the auto sector and refocus on energy storage, a far less capital-intensive business.
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L Brands popped on strong same-store sales earlier this month, and the bulls came back to the store on Friday.
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*Retail stocks lead the S&P 500 after April sales outlook. NEW YORK, April 11- U.S. stocks rose for a fourth straight day on Thursday, sending the Dow and the S&P 500 to new closing highs as positive data on the labor market and an encouraging retail outlook eased recent concerns about economic growth.
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