Closing Bell: Yum! Authorizes $2 Billion in Buybacks; Retail Sinks Wall Street

Wall Street ended with slight losses Friday after a string of earnings disappointments from the retail sector.
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Wall Street ended with slight losses Friday after a string of earnings disappointments from the retail sector. Gap (GPS) - Get Report reported a decline in sales for its seventh straight quarter, while Abercrombie & Fitch's (ANF) - Get Report third-quarter profit slumped 81%. Crude oil ended the day higher despite an increase in the number of active oil rigs in the U.S. Baker Hughes data has shown an increase in active rigs drilling for oil in 11 of the past 12 weeks. Nuance Communications (NUAN) - Get Report rallied after swung to a profit in its recent quarter. The voice tech developer also beat fourth-quarter earnings and sales analysts' estimates. Yum! Brands (YUM) - Get Report climbed after authorizing another $2 billion in stock buybacks. The KFC and Taco Bell owner currently has $4.2 billion remaining in its share repurchase program.