RadioShack Quickly Running Out of Cash; Unemployment Claims Hit Two-Month High
Stocks end the day mixed partially due to weak jobs data. 315,000 Americans filed unemployment claims last week, hitting the highest level in 10 weeks. Economists believe that there is nothing to worry about as data can be volatile around holidays and we should be seeing a decrease in unemployment claims this week. RadioShack (RSH) is quickly running out of money. The company may have to seek bankruptcy-court protection as it may not be able to get the funds to meet its expected needs for the next year and beyond. RadioShack is talking with a lot of people in hopes of find a solution for their financial woes, but will fall back on bankruptcy if necessary.
Word on the Street
- Unemployment applications rise to 315,000.
- Interest rates likely to be raised in 2015.
- RadioShack (RSH) may be forced to file for bankruptcy.
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Published on Sep 11, 2014By InvestorGuide Staff