Record Finishes Continue for S&P 500; American Apparel's CEO Ousted
The S&P 500 hit a record close for the second straight day. Additional earnings reports were released today, revealing mixed results. Rite Aid (RAD), Coach (COH), and Pier One's (PIR) shares all fell after they reported disappointing earning forecasts. Kroger's (KR) shares jumped up 5% after the grocery store reported higher than expected first-quarter earnings.American Apparel (APP) ousted their controversial CEO today, and its shares responded positively. The board unanimously voted to fire Dov Charney, the retailer's CEO and founder, amid an ongoing investigation into alleged misconduct.
Word on the Street
- Jobless claims fall to 7-year lows.
- Facebook (FB) goes down in multiple countries.
- GE Capital (GE) ordered to return $225 million to its customers.
- 30-year mortgage rate falls to 4.17%.
- Do you have too much invested in U.S. stock?
- American Apparel (APP) terminates CEO and founder.
- Measurement Specialties (MEAS) to be acquired by TE Connectivity.
Published on Jun 19, 2014By InvestorGuide Staff