Stocks are making the biggest strides
Richardson Electronics shares advanced nearly 0.72% after Richardson Electronics reported a smaller loss in its fiscal third quarter than a year earlier. The engineering services firm also reported higher-than-expected earnings.
Shares of club retailer Costco Wholesale fell 2.52% after Costco reported total retail sales of $21.72 billion in March, down 1.2% from last year. Comparable sales growth was positive when excluding gasoline price differentials and currency impacts. Net sales advanced 0.5%.
Shares of beverage company Constellation Brands rose slightly after Constellation Brands posted its latest quarterly earnings. The company earned $1.99 per share, outperforming Refinitiv research.
Shares of FedEx Corporation rose 1% a day after announcing restructuring measures to cut costs.
Pinterest shares advanced 1.22% after Raymond James said he had started advertising Pinterest in better ways. The company said it expects steady customer growth and double-digit revenue growth over the long term.
Levi Strauss Levi Strauss shares fell 4% after reporting its fiscal fourth-quarter results and once again posted strong, solid earnings per share. The CFO said the annual guidance reflects cautious plans for the macro environment. Levi Strauss beat expectations by reporting earnings of 34 cents per share on revenue of $1.69 billion. Analysts surveyed had expected earnings of 32 cents a share on revenue of $1.63 billion.
European stocks rise
European stocks rose while Wall Street futures fell as weaker-than-expected jobs statistics fueled investor concerns about a looming US recession.
Across Europe, the Stoxx 600 added 0.52 percent. Germany’s Dax rose 0.32 percent as industrial production in the eurozone’s biggest economy advanced 2 percent in February, after a 3.72 percent jump in January, well above the mark. of 0.1 percent. London’s FTSE 100 rose 0.72 percent.
Hong Kong’s Hang Seng Index was flat in Asia, China’s CSI 300 fell 0.12 percent and Japan’s Topix fell 0.9 percent.
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