Jobless Claim Drops to Lowest Level in 3 Months; Staples to Close 225 Stores
The S&P 500 achieves yet another record high as investors anxiously await the February Jobs Report that will be released tomorrow. Last week's jobless claim dropped by 26,000 to its lowest level in three months. Staples (SPLS) announced that they will be closing 225 stores by the end of 2015 in part of its $500 million cost-cutting plan. The office superstore plans to focus more on online sales since nearly half of the retailer's transactions currently take place online. According to a source close to the matter, Cerberus Capital Management is set to purchase Safeway (SWY) for $9 billion.This deal would bring Cerberus' Albertsons and Safeway together, who represent the fifth and second largest grocery store chains by market share.
Word on the Street
- Shares of FireEye (FEYE) have risen significantly since its IPO.
- Disney (DIS) Interactive to lay of 26% of its video game division.
- Get ready for some changes to Google (GOOG).
- Household wealth rises in 2013 to $10 trillion.
- Staples (SPLS) will be closing 225 stores.
- Sangamo BioSciences (SGMO) stock soars on First-In-Man study of genome editing testing.
Published on Mar 6, 2014By InvestorGuide Staff