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News Breaks | | | | September 26, 2012 | | 12:13 EDT |  | BTH, RSH, CAMP, JBL, AM | On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as yesterday's jitters about austerity driven protests in Spain and Greece carried over to today's session. Stocks began the day hugging the flat line and continue to trade in a narrow range. There has been little to get investors excited, as the luster of QE3 has worn off and earnings season, which is roundly expected to be weak anyway, is still weeks away. The economic calendar has been quiet so far this week as well, with most numbers missing expectations. The volume remains light, particularly given today's Jewish holiday, and the S&P 500 looks poised to be down for its seventh time in the last eight trading days... ECONOMIC EVENTS: In the U.S., sales of new homes dipped 0.3% to a seasonally adjusted annual rate of 373,000 in August, versus expectations for them to increase 2.2% from July. The EIA weekly petroleum status report showed a draw down of oil inventories of 2.45M barrels, versus consensus calls for a 1.9M build. In Europe, stock markets and the euro fell sharply as protests in Greece and Spain ratcheted up investor anxiety again... COMPANY NEWS: RadioShack's (RSH) CEO James Gooch agreed to step down immediately, to be replaced on an interim basis by CFO Dorvin Lively while the company looks for a permanent replacement. Shares of the electronics retailer briefly rallied after the news, but then gave up their gains to be fractionally lower near noon... MAJOR MOVERS: Among the notable gainers was American Greetings (AM), up nearly 17% to $16.76 after the company received a go-private offer from a group led by its CEO and COO, who offered to buy the remaining stake not owned by their family for $17.18 per share. Also higher were shares of CalAmp (CAMP), up 12% after its quarterly results and outlook beat expectations. Among the noteworthy losers were Blyth (BTH), down nearly 18% after its ViSalus unit withdrew its initial public offering plans, and Jabil Circuit (JBL), down over 9% after its earnings and guidance came in below the Street's expectations... INDICES: Near noon, the Dow was down 4.83, or 0.04%, to 13,452.72; the Nasdaq was down 20.59, or 0.66%, to 3,097.14; and the S&P 500 was down 4.45, or 0.31%, to 1,437.14. | |
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News For RSH;AM;CAMP;BTH;JBL From The Last 14 Days Check below for free stories on RSH;AM;CAMP;BTH;JBL the last two weeks. |
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| May 21, 2013 | | 14:25 EDT |  | RSH | RadioShack to introduce PayPal in all stores this month, Reuters says
RadioShack (RSH) will introduce PayPal, the online payment system owned by eBay (EBAY), in all of its retail stores starting this month, reports Reuters. Reference Link | | | May 16, 2013 | | 16:18 EDT |  | RSH | RadioShack to review executive compensation following shareholder vote
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