This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Business Highlights

___

Tiffany's cuts outlook amid slowing demand

NEW YORK (AP) â¿¿ Tiffany & Co., a bellwether of luxury spending, says its sales aren't rising as fast as last year in the U.S. or abroad, and the gift and jewelry chain cut its forecasts for sales and profit for the year.

Tiffany delivered its lower outlook on Thursday as it reported first-quarter profit essentially the same as a year ago and below what analysts were expecting.

The news from Signet Jewelers Ltd, which targets a more moderate-income market, was similar. Signet reported lower sales than Wall Street expected, and it forecast slower growth.

___

Sony ends panel joint venture with rival Sharp

TOKYO (AP) â¿¿ Sony Corp. is ending its joint venture with rival electronics maker Sharp Corp. to produce and sell large liquid-crystal displays for TVs â¿¿ part of its new strategy to buy panels rather than invest in manufacturing them.

Sony said Thursday it will sell back to the joint venture Sharp Display Products Corp. all 7 percent of the stake it has held since 2009. Sony won't lose any money as it will receive 10 billion yen ($126 million), the same as what it paid for shares in the Sharp subsidiary, which produces panels in Sakai city, western Japan.

Tokyo-based Sony, which makes the Walkman portable player and PlayStation 3 game machine, recently also ended its joint venture with Samsung Electronics Co. to produce flat panels.

___

By The Associated Press(equals)

The Dow Jones Industrial average closed up 33.60 points at 12,529.75. The Standard & Poor's 500 index edged up 1.82 to 1,320.68. The Nasdaq composite index fell 10.74 points to 2,839.38.

Benchmark U.S. oil rose 76 cents to $90.66 per barrel in New York. Brent crude, which is used to price international oil varieties, increased 99 cents to $106.55 per barrel in London.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs