SME Times is powered by   
Search News
Just in:   • Cyclone Idai: Unicef urges assistance to children  • Israeli army targets two Hamas posts in Gaza Strip  • Petrol prices rise, diesel remains unchanged  • PNB sets recovery target of Rs 10K cr for Q4: MD  • ADB readies for face-off with AIIB, NDB in India 
Last updated: 11 Jan, 2019  

NYSE.9.Thmb.jpg US stocks extend rally despite retail weakness

NYSE.9..jpg
   Top Stories
» NITI Aayog to organise FinTech conclave Monday
» 'Revised fiscal deficit target due to cut in non-essential expenditure'
» Prevent degradation of ocean and its ecosystem: Naidu
» CITI welcomes new textile policy
» Support needed urgently for export sector: Gupta
IANS | 11 Jan, 2019

The Dow Jones Industrial Average rose 122.80 points, or 0.51 percent, to 24,001.92 on Thursday. The S&P 500 rose 11.68 points, or 0.45 percent, to 2,596.64. The Nasdaq Composite Index increased 28.99 points, or 0.42 percent, to 6,986.07, Xinhua news agency reported.

Shares of Macy's plunged nearly 18 percent to close at 26.11 US dollars apiece after it reported weak holiday sales for 2018 and cut its earnings outlook for the year.

The department store chain said in a statement on Thursday that online sales in November and December and sales at stores operating for at least 12 months were up a combined 1.1 percent. The company expected no growth in net sales for fiscal 2018, rather than an increase between 0.3 percent and 0.7 percent that was previously estimated.

Its same-store sales projection for the year was revised down to 2 percent from a range of 2.3 percent to 2.5 percent.

American Airlines cut its profit forecast and said it struggled to grow revenue at the end of 2018.

The airline, the largest in the United States, said its revenue per available seat mile, a key industry metric, rose 1.5 percent in the fourth quarter of 2018 year on year, compared with a range of 1.5 percent o 3.5 percent it gave investors previously.

The airline said excluding special items, it expects to post earnings per diluted share of between 4.40 dollars and 4.60 dollars, down from its estimate in October.

Shares of the airline dropped 4.13 percent to close at 32.04 dollars apiece.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 25 Mar, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(2)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter