Markets were mixed from reports on sluggish retail sales. Dow was up 47, advancers slightly ahead of decliners & NAZ up 27. Retail sales for Mar were mixed at best, consumers were mostly looking for sales & buying basics. Walmart (WMT), a Dow stock, & Costco (COST) were among the best performers, reflecting this trend. Target (TGT) reported sames store sales in Mar down 4½% & sees Apr sales as so-so. Thomson Financial said 17 retailers missed sales expectations while only 6 merchants beat estimates. The tally is based on same-store sales or sales at stores opened at least a year & are considered a key indicator of a retailer's health. Labor Dept reported jobless claims dropped 53K last week taking it below the important figure, 400K. However, the 4 week average remains highest in last 2½ years.
Meanwhile, Yahoo (YHOO) has become a darling of companies sending it's shares up 58¢ & helping NAZ have a good day. Buyers are hoping for a better offer.
Meanwhile, Yahoo (YHOO) has become a darling of companies sending it's shares up 58¢ & helping NAZ have a good day. Buyers are hoping for a better offer.
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