Market News: Google, Sears, Abercrombie & Fitch, Procter & Gamble

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Stocks that were active in the U.S. trading on Friday include Google Inc (NASDAQ:GOOG), Sears Holdings Corp. (NASDAQ:SHLD), Abercrombie & Fitch Co. (NYSE:ANF), The Procter & Gamble Company (NYSE:PG) and, inc. (NYSE:CRM)

Market News: Google, Sears, Abercrombie & Fitch, Procter & Gamble

Market Levels

  • U.S.: Dow Jones: 15,273.50 (-0.14%), S&P 500: 1,649.62 (-0.05%), Nasdaq: 3,459.14 (-0.01%)
  • World Markets: Shanghai: 2,288.53 (+0.57%), Nikkei 225: 14,612.45 (+0.89%), Hang Seng Index: 22,618.67 (-0.23%), TSEC: 8,209.78 (-0.34%), FTSE 100: 6,654.34 (-0.63%), EURO STOXX 50: 2,764.29 (-0.45%), BSE Sensex: 19,704.33 (+0.15%)
  • Metals: Gold: $1386.60 (-0.37%), Silver: $22.50 (-0.05%), Platinum: $1451.90 (-0.36%)
  • Currency: EUR/USD: 1.2933 (+0.01%), USD/JPY: 100.99 (-0.87%), GBP/USD: 1.5136 (+0.21%), USD/CAD:  1.0319 (+0.14%), USD/CNY: 6.1316 (-0.04%), AUD/USD: 0.9655 (-0.85%)
  • 10 year U.S. Treasury: 2.01% (+0.02), 30 year U.S. Treasury: 3.17% (+0.01)

Market & Economy Update

Data showed today that jobless claims fell to 340,000 last week. Moreover, orders for durable goods rose more than expected in April. All three major indexes ended the session lower today. The Dow Jones Industrial Average was down 21 points to 15,273.50, the S&P 500 Index slipped 0.91 points to 1,649.60, while Nasdaq fell 0.28 points to 3,459.14.

Stocks In Focus

Google Inc (NASDAQ:GOOG)

The Federal Trade Commission has started an investigation into whether Google is using its strong position in online advertising to illegally curb competition. The investigation is still in preliminary stages, people familiar with the matter told Bloomberg. Google shares skidded 1.07 percent to close the session at $873.32.

Sears Holdings Corp. (NASDAQ:SHLD)

The retailer swung to first quarter losses as revenues and margins slumped during the period. Sears recorded a hefty gain on asset sales last year. Shares plunged 13.62 percent to end the trading session at $50.25 per share.

Abercrombie & Fitch Co. (NYSE:ANF)

Though the teen retailer’s first quarter losses narrowed, they widely missed Wall Street expectations. The company reported a loss of 9 cents a share, compared to analysts estimate of 5 cents in losses. Abercrombie & Fitch also issued downbeat guidance for the full year. Shares slipped 8 percent to end the session at $50.02.

The Procter & Gamble Company (NYSE:PG)

Procter & Gamble announced today that its CEO Bob McDonald will resign and former CEO A.G. Lafley will replace McDonald. The move surprised everyone in the Street as Lafley himself had chosen McDonald as his successor. McDonald has been highly criticized by investors and analysts throughout his tenure. Shares of Procter & Gamble rose 4.04 percent to $81.88., inc. (NYSE:CRM)

The business software company’s first quarter losses widened amid rising expenses as the company tries to expand in emerging markets. However, revenues and core earnings improved during the period. Adjusted earnings came at 10 cents a share with $893 million in revenues. The company issued downbeat guidance for the full year. Shares tanked 5.34 percent to $43.25.

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