Stocks End Higher as Ukraine Tensions Ease – Yahoo Finance
Retailers were also on the back foot, undermined by grocer Shoprite which warned of a continuing squeeze on the country’s consumers after posting its slowest profit growth in 15 years, sending its shares to a five-month low. The Top-40 index fell 0.5 percent to 46,195.61 while the All-share ended 0.4 percent lower at 51,363.37. BHP Billiton investors who had been expecting a $5 billion share buy back from the mining giant were left disappointed, sending Johannesburg shares of the company 5.5 percent lower to 347.56 rand. “None of that materialised, so there has been a bit of a sell-off,” Greg Davies, an equities trader at Cratos Capital said of the buyback. Shoprite’s shares shed 5.6 percent to 145.50 rand, heralding more bad news on the consumer front after South Africa’s biggest unsecured lender African Bank almost collapsed last week, blaming customers’ inability to meet debt repayments.
Home Depot, the nation’s largest home improvement retailer, rose after raising its annual profit forecast following a strong spring selling season. TJX, the parent company of T.J. Maxx, Marshalls and other stores, climbed on strong earnings. “The economic reports …
Stocks rise as US home construction rebounds | The Herald-Dispatch
Home builder confidence rose in August according to a survey released by the National Association of Home Builders today. The reading of 55 was above analyst expectations of 53 and shows that most homebuilders see conditions in the single-family new home market as good today. At market close the Dow, S&P 500 and Nasdaq were up 1.1%, 0.9% and 1.0% respectively. Stocks official website on the Move The battle for Family Dollar (FDO) heated up this morning after Dollar General (DG) made a $9 billion cash offer for the company. The move comes after Dollar Tree (DLTR) made an $8.5 billion cash and stock offer for Family Dollar last month.
Stocks Higher After Data, Earnings – Yahoo Finance
Management also raised its outlook for full-year 2014 earnings. TJX (TJX) reported strong quarterly results today. Net sales increased a healthy 7%, showing that both comparable sales and new store openings are on track. Gross margin was 28.6%, down 0.2 percentage points year over year but was primarily due to the impact of mark-to-market adjustments in hedging instruments and the impact of e-commerce. Merchandise margins were flat.