The U.S. Department of Justice (DOJ) is reportedly preparing for an antitrust investigation against Google.Following the report, the tech giant’s parent company Alphabet lost more than -3% in stock price during pre-market trading Monday.
Citing sources familiar with the antitrust probe, The Wall Street Journal indicated that third-party critics of Google have been in touch with the Department regarding the issue.
Goldman Sachs Group Inc said on Monday that West Street Capital Partners VII, a fund managed by the company’s merchant banking unit, will acquire Capital Vision Services LP, to bolster their portfolio in the healthcare services sector.
Its same-store sales for the quarter plunged -4% year-over-year, which is a sharper drop than analysts’ estimates of -1.1% decline.
Gap’s Old Navy same-store sales decreased -1%, compared with the prior year’s +3% increase.Its Banana Republic same-store sales were down -3%, compared with +3% growth in the year-ago period.
Looking ahead, Gap predicts its adjusted earnings per share to range between $2.05 and $2.15 for the full-year, which is a lower projection compared with a prior forecasted range of $2.40 to $2.55.
Last week, Gap revealed its plans to close 130 Gap-branded stores in the fiscal fourth quarter.
Shares of Gap ended around -9% down on Friday.
Homebuilder DR Horton (NYSE: DHI) reported earnings on April 25.Now that the disappointment is starting to subside, the stock appears to be forming a base in the $44 area and looks as though it may be ready for another leg higher.
Looking at the daily chart we see that the stock has been trending higher since the end of December and there is a trend line that connects the lows from December, January, and March.
Starbucks (Nasdaq: SBUX) has been on an incredible run since last June with the stock jumping almost 72% from the low to the high.Even in the fourth quarter when most stocks lost tremendous ground, Starbucks was actually up.
The stock did pull back a little in December and the low from then combined with the lows from January have created the lower rail of an upwardly sloping trend channel.
Unfortunately for shareholders, the stock has gotten caught up in the recent selling in the overall market and has pulled back down to the $1,800 level at this point.
The good news is that the stock is right around a lower rail of what I believe to be a forming trend channel.Connecting that rail with the low from early March puts it in the $1,800 area at this time.
We also see that the stochastic readings have hit oversold territory and made a bullish crossover on May 29.
The Tickeron AI Trend Prediction Engine generated a bullish signal for Amazon on May 28 and it showed a confidence level of 88%.
Once embattled electronics retailing giant Best Buy Inc. has been dodging death for some time now, but the question is, for how long?
The company expects to grow same-store sales in 2019 amidst threats from tariff increase and concerns over consumer spending.
For years, Best Buy had watched customers walk its floors and test out products they would then buy online for lower prices, often from Amazon.It is now trying to test options where consumers would return to stores to buy products instead of buying them cheaper from e-commerce sites like Amazon (AMZN).
Under the current CEO, that trend is changing and the company boasts of retaining some of the customers who walked its floors.
Over assumed execution risks, Fiat Chrysler’s $40 billion merger deal with Renault is far from complete, and if the deal does see through, it would take a year or even 18 months to reach fruition.
The first major obstacle is choosing the right leader for the combined entity as both companies have complex business models.This will add a significant burden on investments.
The Italian-American automaker has offered Renault a 50-50 merger of equals that would create an 11-member board split equally between Renault and Fiat Chrysler, with one seat going to Nissan.
Against the backdrop of rising uncertainty and high expenses attached to global supply chains, apparel brands’ real challenge now is to get their merchandise closer to the point of sale.
Amazon Inc’s t-shirt printing service currently seems to be the go-to solution for many of them.Entertainment companies like Walt Disney (DIS) and Dr. Seuss are increasingly turning to Amazon’s platform are following this strategy where instead of approaching traditional stores, they are working by on-demand printing T-shirts that do not warrant wide distribution.
Uber Technologies Inc. in its first financial report as a public company, posted first-quarter sales near the high end of its previously disclosed preliminary results.The company also reported a US $1.01 billion quarterly loss, among the largest of any public company.
Nelson Chai, the chief financial officer, laid out a path for costs to eventually come down.
General Motors Co. and Ford Motor Co. each fell more than 3%.
The latest blow in the trade disputes adds to a month that has trimmed 12% from the 24-member S&P Supercomposite Automobiles and Components Index, shaving about $20 billion in market value in May through Thursday.It was on track to be the worst month for the sector since December’s 14% slump, although Friday’s declines could push the group beyond that.
U.S.consumer prices increased by the most in 15 months in April, which could support the Federal Reserve’s contention that recent low inflation readings were transitory and allow the central bank to keep interest rates unchanged for a while.
Uber Technologies Inc UBER 0.22% had a bigger earnings loss than expected, but narrowly beat the Street on revenue in its first-ever earnings report as a public company.
After unsettling investors last quarter with a muted outlook for fiscal 2019, Dollar General's (NYSE: DG) first-quarter results released Thursday indicated that the current year may yet hold promise.Let's sift through the most important details of the quarter below, and also review management's outlook for the remainder of the year. Note that all comparative numbers in this article are presented against the prior-year quarter.
KFC is joining the long list of restaurants thinking about adding plant-based meat substitutes to its menu.
Gap Inc. shares tanked Thursday after the apparel retailer reported quarterly earnings and sales short of Wall Street estimates, and slashed its full-year profit outlook.
China, the world’s largest soybean buyer, has put purchases of American supplies on hold after the trade war between Washington and Beijing escalated, according to people familiar with the matter.
China’s manufacturing activity contracted more than expected for in the month of May amid a bitter trade war with the U.S., Chinese government data showed on Friday.
The official manufacturing Purchasing Managers’ Index (PMI) for May came in at 49.4, lower than the 49.9 economists polled by Reuters had forecast. April’s reading was 50.1.
The fate of the updated trade deal between the U.S., Mexico and Canada was thrown into question after U.S. President Donald Trump announced Thursday that his country plans to impose a 5% tariff on all Mexican imports from June 10.
Gap cut its 2019 profit forecast and posted the biggest drop in same-store sales in at least three years at its Gap brand.The cut reflects struggles to compete within the fashion sector in the face of changing customer preferences.
Chief Executive Officer Art Peck called the quarter “extremely challenging” and cited unusually cold weather in February, late spring breaks, a delayed Easter and lower tax refunds as reasons for the dour performance.
Chief Financial Officer Teri List-Stoll said there was a lack of strong products at both Old Navy and Gap in the first quarter and said the company had held back on marketing until designs and assortments improved.
Sales at established Gap brand stores fell 10% in the three months ended May 4, steeper than the 4% decline analysts had estimated.