Stocks Dragged Down by Weak Retail Earnings; Target Fires Another Executive
Stocks close the day sharply down partially due to weak retail earnings. Dick's Sporting Goods (DKS), TJX Companies (TJX), Urban Outfitters (URBN) and Home Depot (HD) all failed to meet Wall Street's expectations, thus driving down the stock indices. Just days after General Motors (GM) recalled nearly 3 million vehicles, the auto maker recalls an additional 2.4 million vehicles for a myriad of issues that are not limited to seat belt and air bag issues.Target (TGT) let go of another top executive this week. Barely a week after the retailer let go of CEO Gregg Steinhafel they have decided to release the president of the Canadian division, Tony Fisher, of his executive position.
Word on the Street
- Sprint (S) hit with $7.5 million "Do Not Call" fine.
- Is Samsung dominating the smartwatch industy?
- Interest rates likely to rise slowly in the future.
- eBay (EBAY) considers integrating Bitcoin into PayPal.
- GoPro plans $100 million IPO offering.
- Credit Suisse (CS) to pay $2.8 billion to settle criminal case.
Published on May 20, 2014By InvestorGuide Staff