Ahead of January Jobs Report, RadioShack Files for Bankruptcy

After months of trying to find financial solutions to keep it afloat, RadioShack has filed for Chapter 11 bankruptcy.
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After months of trying to find financial solutions to keep it afloat, RadioShack has filed for Chapter 11 bankruptcy as investors await the January jobs report, and Twitter management assures investors of 2015 user growth. RadioShack aims to sell up to 2400 stores to hedge fund Standard General, which in turn plans to strike up a partnership with Sprint for an initiative. On back ground Standard General efforted a rescue loan for RadioShack. We get the January jobs report today from the Labor Department. The economy is expected to add 230K positions last month, and the unemployment rate is expected to stay steady at 5.6 percent. Where is wage growth? That is an important number because we still await a meaningful recovery in it. Meanwhile companies continue to announce layoffs. German Engineering giant Siemens plans to cut almost 8000 jobs as part of a larger restructuring plan announced last May. As expected Twitter turned in earnings results for the latest quarter after the bell. The good news is that it did narrow its losses. The bad news? User growth and engagement. It had 288 active million users, where as analysts were looking for 291 million. Nonetheless, management pledged to reverse that trend in 2015 and the stock jumped 11 percent in the afterhours session.