The world’s largest asset manager is far from being an activist investor, but it is starting to ask more questions, the New York Times reports.» Read More
The world’s largest asset manager is far from being an activist investor, but it is starting to ask more questions, the New York Times reports.
SAN FRANCISCO, May 17- Target Corp said on Friday it opened a new San Francisco office to track down technology companies that can help the second-largest U.S. retailer grow its online commerce business.
Costco Wholesale Corp. rose $1.54 or 1.4 percent, to $113.05. Target rose $1.06 or 1.5 percent, to $71.06. Wal-Mart Stores Inc. fell$. 63 or. 8 percent, to $77.87.
If earnings are driving the rally, then next week is going to be very telling. "I want to be careful of some stocks," Cramer said.
NEW YORK-- Shares of some top big-box retail companies are mixed at 1 p.m.:. Costco Wholesale Corp. rose$. 81 or. 7 percent, to $112.32. Wal-Mart Stores Inc. fell$. 84 or 1.1 percent, to $77.66.
NEW YORK-- An analyst said Friday that he's not surprised that Wal-Mart's first-quarter performance was weak, given conditions such as an increased payroll tax and unseasonably cool weather. Thursday Wal-Mart Stores Inc. reported that its first-quarter profit edged up just slightly.
NEW YORK-- Shares of some top big-box retail companies are mixed at 10 a.m.:. Costco Wholesale Corp. rose$. 75 or. 7 percent, to $112.26. Wal-Mart Stores Inc. fell$. 45 or. 6 percent, to $78.05.
Costco Wholesale Corp. fell $1.31 or 1.2 percent, to $111.51. Target fell$. 39 or. 6 percent, to $70.00. Wal-Mart Stores Inc. fell $1.36 or 1.7 percent, to $78.50.
The three major U.S. stock indexes had earlier traded in a tight range, supported by a gain of more than 12 percent in Cisco Systems shares and as investors took in a batch of economic data that pointed to slower growth.
Stocks ended near session lows Thursday pressured by a handful of weak economic data and as some Fed officials stated their openness to tapering the central bank's bond-buying program in the coming months.
*Wal-Mart falls after earnings miss. Cisco Systems led gains in both the Dow and Nasdaq Composite with a 12 percent surge after the network equipment maker posted a higher-than-expected quarterly profit and said current-quarter revenue could increase. Cisco shares shot up 12.3 percent to $23.82 after hitting $24.24, the highest since November 2010.
NEW YORK-- Shares of some top big-box retail companies are down at 1 p.m.:. Costco Wholesale Corp. fell $1.23 or 1.1 percent, to $111.59. Wal-Mart Stores Inc. fell $1.70 or 2.1 percent, to $78.16.
Wal-Mart Stores's quarterly profit just missed Wall Street expectations on Thursday, with sales down 1.4 percent at its Walmart U.S. stores open at least a year.
WASHINGTON, May 16- The U.S. economy showed fresh signs of slower growth in the second quarter, with factory activity slipping in the mid-Atlantic region while groundbreaking declined at home construction sites. We are seeing a soft start for growth in the second quarter, "said Sam Bullard, an economist at Wells Fargo in Charlotte, North Carolina.
*Cisco's stock flies after earnings, outlook. NEW YORK, May 16- U.S. stocks advanced modestly on Thursday as Cisco led gains in blue chips and technology stocks following strong earnings, offsetting concerns about softer-than-expected data on the manufacturing sector and labor market.
*Profit of $1.14 per share misses Wall Street view $1.15. *Second-quarter profit forecast below Wall Street view.
Colin McGranahan, Sanford Bernstein analyst, has the play on the world's largest retailer after a disappointing earnings report and forecast put pressure on the stock.
NEW YORK-- Shares of some top big-box retail companies are down at 10 a.m.:. Costco Wholesale Corp. fell$. 40 or. 4 percent, to $112.42. Wal-Mart Stores Inc. fell $1.75 or 2.2 percent, to $78.11.
Joe Feldma, an analyst with Telsey Advisory Group, breaks down the retailer's first-quarter numbers and weighs in on the company's outlook.
*Cisco jumps after earnings, outlook. *Wal-Mart slips after earnings miss. NEW YORK, May 16- U.S. stocks were little changed on Thursday after softer-than-expected data on the manufacturing sector and labor market, but gains in Cisco helped temper declines.