CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
The growth in net interest income, a main engine of the industry's profit, looks to slow to a halt in the back half of this year.Banksread more
Amazon also said that on Monday and Tuesday it sold more Amazon devices — like the Echo Dot, the Fire TV Stick and Alexa Voice Remote — over a two-day period than it ever has...Retailread more
The news comes after eBay announced a strategic portfolio review on March 1.The Faber Reportread more
If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market, Michael Santoli notes.Trading Nationread more
Ascending triangle patterns have been appearing across the stock market, and they tend to be precursors to higher prices, says Miller Tabak's Matt Maley.Trading Nationread more
Netflix reports earnings Wednesday as it loses licensed shows to rivals launching their own streaming services.Technologyread more
Hedge fund manager Kyle Bass reportedly thinks that U.S. interest rates will plummet toward zero in 2020 as the economy heads for recession.Hedge Fundsread more
Shares of beauty and wellness products company Nu Skin tanked on Wednesday after the company said China's crackdown on health products is weighing on sales.Investingread more
Buying stocks when they are this expensive has historically led to lower returns, data compiled by Ned Davis Research shows.Marketsread more
Shares of DSW rose more than 20 percent on Tuesday after the company posted quarterly results that easily topped analyst expectations.
The footwear retailer reported adjusted fiscal second-quarter earnings of 63 cents a share on revenue of $795.3 million. Analysts polled by Reuters expected a profit of 46 cents a share on sales of $689.4 million. Earnings grew by 65.8 percent from the year-earlier period and revenue increased by 16 percent.
The results sent DSW's stock up 20.2 percent, its best day since its 2005 IPO. That day, the stock shot up 26.8 percent.
DSW's results were boosted by much better-than-expected same-store sales, which is a key number for retailers. Same-store sales rose 9.7 percent last quarter, surpassing a Reuters forecast of 2.5 percent growth.
CEO Roger Rawlins said the company's earnings and revenue for the quarter were records. "Our merchandise strategy and marketing investment fueled strong customer engagement, traffic and transaction activity," he said. "The strong results we've had this spring demonstrate we're successfully activating customers and increasing lifetime value."
DSW also said it would close its 38 Town Shoes stores, which are based in Canada, to focus on its three largest retail banners: Shoe Company, Shoe Warehouse and DSW Designer Shoe Warehouse. The company said the consolidation would be "slightly accretive" this year.
The company's stock has been on fire this year. Entering Tuesday's session, it was up 27 percent for 2018.