Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

Consumer Company Stocks Climb as J.C. Penney Sales Rise - Consumer Roundup

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/10/2017 | 10:26pm CET

Shares of retailers and other consumer-services companies rose amid relief about the prospects for department stores. Shares of J.C. Penney surged after the chain store posted quarterly revenue and same-store sales growth that topped Wall Street estimates, a pleasant surprise that came after a late-October warning that its quarterly growth would be hurt by promotional activity designed to shift stubborn inventory. Investors have fled the bricks-and-mortar retail sub-sector recently as Amazon.com's incursion on the business shows no sign of abating. The University of Michigan said its preliminary reading on consumer sentiment was 97.8 in November, down from 100.7 in October, which was the highest reading since 2004. Fears that Airbnb would lay waste to the hotel industry may be overdone, according to a survey conducted by one brokerage. A Morgan Stanley survey "suggests Airbnb adoption is slowing in the US/Europe as awareness peaks and privacy/safety issues rise," said analysts at the brokerage, in a note to clients.

-Rob Curran, [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
01:16a UK fourth quarter motor insurance premiums fall 1.3 percent - survey
01:14a Abolish borrowing cap to meet housing targets - British lawmakers
01:00a EXCLUSIVE : Philadelphia Energy Solutions to file for bankruptcy - memo
12:21a U.S. stock index futures slip after government shutdown continues
12:14a Facebook to open digital training hubs in Europe
12:10a Japan manufacturers' mood jumps to 11-year high - Reuters Tankan
12:09a CANADIAN OLYMPIC COMMITTEE : Must-try Korean street food
01/21 STATE INSURANCE REGULATORY AUTHORITY OF NEW SOUTH : Green Slip refunds cheques in the post
01/21 Stock-focused hedge funds post biggest gains among top performers
01/21 Saudi Arabia asks banks for proposals to refinance $10 billion loan, raise more debt
Latest news "Economy & Forex"
Advertisement