Shares of Gap are sinking on Friday after the retailer reports worse-than-expected same-store sales for March. Gap announced after the close on Thursday that its comparable sales for March fell 6% -- worse than analysts' expectations for a drop of 4.7%, according to Thomson Reuters. Gap blamed the bad winter weather and the later occurrence of the Easter holiday in April this year, from March last year, as reasons for the weaker sales. Still, the company reaffirmed its full-year forecast.
Walmart is trying to make eating healthy easier for Americans -- by making it more affordable. The retailer said on Thursday that's reached a deal with organic foods brand Wild Oats to sell the company's products at lower prices. Walmart said prices of Wild Oats products will be at the same level as typical grocery items and at least 25% below the price point of national organic food brands. The company said 91% of its shoppers would consider buying affordable organic products.
Shares of Rite Aid are climbing on Thursday after the drugstore chain reports higher-than-expected profit for the fourth quarter and issues a 2015 earnings forecast above analysts' estimates. Rite Aid forecast full-year 2015 sales of $26 billion to $26.5 billion, beating analysts' forecasts of revenue of about $25.7 billion. The company said it expects its pharmacy sourcing deal with McKesson as well as new and higher-priced generic drugs to drive sales in 2015.
In what's being called the death of Windows XP, Microsoft will no longer provide support for the operating system beginning today. Without Microsoft's security updates, computers running on XP will be left vulnerable to viruses and cyber attacks. That includes many of the nation's ATMs and small businesses still running on Windows XP. Microsoft is advising that XP users upgrade their current PC to run on Windows 8.1 if possible. If not, Microsoft encourages users to shop for a new computer.
Shares of Gigamon plummet in after-hours trading on Monday after the company forecast lower-than-expected first-quarter revenue. The company sees revenue of between $31 million and $31.5 million, below its previously stated guidance and shy of analyst expectations of $34.8 million, according to Thomson Reuters. The company, which makes network traffic management software, blames the weaker-than-expected results on a $2.3 million inventory charge tied to the cancellation of a contract.
Tyson Foods is recalling more than 75,000 pounds of frozen chicken nuggets after customers reported finding pieces of plastic in the food. The recall pertains to five-pound bags of Tyson Fully Cooked White Meat Chicken Nuggets and 20-pound bulk packs of Spare Time Chicken Breast Pattie Fritters with Rib Meat that were sold at Sam's Club stores. The U.S. Department of Agriculture reported that consumer complaints included one of a minor mouth injury in someone who ate the nuggets.
Shares of Barnes & Noble are falling in Friday trading, one day after Liberty Media, one of the retailer's biggest investors, announced it is selling nearly all of its stake in the struggling bookseller. Liberty Media says it is selling 90% of its approximately 17% stake in Barnes & Noble to institutional buyers and will lose its two board seats. Barnes & Noble has been facing challenges, especially in its Nook segment, where the company saw sales fall 50% in its fiscal third quarter.
Used car retailer CarMax reports a nearly 9% increase in fiscal fourth-quarter revenue on Friday but results still fall short of expectations. CarMax reported profit of $99.2 million, or 44 cents a share, on revenue of $3.08 billion for the quarter -- coming in below analysts' forecasts of earnings of 53 cents a share on revenue of $3.12 billion, according to Thomson Reuters. The company attributed the weaker-than-expected results to an accounting correction that cut earnings by 8 cents a share.
The Supreme Court rules that limits on the total amount of money donors are allowed to give to candidates, committees and political parties violated the First Amendment for free speech. The 5-4 decision strikes down the aggregate limit of $123,200 per two-year election cycle. Previously, donors were limited to $48,600 to all candidates combined and $74,600 to all party and political action committees. The ruling now allows individuals to contribute up to $3.6 million per two-year cycle.
The U.S. government opens an investigation into Citigroup's Mexican unit over $400 million in fraudulent loans, according to a report by the New York Times. Citigroup disclosed in February it discovered that at least one employee at its Mexican unit, Banamex, falsified documents in order to give a Mexican oil services company a loan it cannot repay. Now, U.S. federal authorities are investigating Citigroup's internal controls and whether the bank ignored warning signs of the fraud.