[video] Quick Take: Sears Cuts Outlook; Alcoa Is Hit by Double Whammy
NEW YORK (TheStreet) -- U.S. stock markets are slightly lower but don't seem to have found a definitive trading direction following December's nonfarm payrolls report. TheStreet's Jonathan Marino looks at the headlines for Friday.
Major European equity markets are getting a solid boost on Friday, with many up around 1%. Japan's Nikkei was able to close out the week with a gain, up 0.2%, Marino said.
Shares of Sears (SHLD) were falling more than 13% after the retailer cut its fiscal fourth-quarter guidance.
Marino said the guidance will add to the frustration for Sears shareholders.
Also in the red is Alcoa
(AA). Shares are lower by roughly 6% after the company reported an earnings miss on Thursday after the close. Sales beat estimates but were lower than a year earlier.
Adding salt to the wound, Alcoa announced it would pay nearly $400 million in fines to the Securities and Exchange Commission and Justice Department to settle foreign bribery charges, Marino said.
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