Sunday, March 17, 2019

business news today

business news today

Is your Payless ShoeSource store closing this month? Check this list - USA TODAY

Posted: 15 Mar 2019 01:59 PM PDT


The discount shoe retailer Payless ShoeSource is set to close all of its stores when its files for bankruptcy later this month. Veuer's Mercer Morrison has the story. Buzz60

The shoe is officially starting to drop for Payless ShoeSource.

While liquidation sales are underway in nearly 2,600 stores in the U.S. and Canada, about 14 percent of locations are expected to complete going out of business sales and close by the end of March.

It's the first round of closings since the 62-year-old footwear chain filed for bankruptcy protection Feb. 18 and includes 247 U.S. locations and 120 in Canada, according to a list compiled by A&G Realty Partners, who is managing the sale of the store leases.

All stores in the U.S. and Canada will close by late May, Payless has said. Sales are final and stores are no longer accepting returns or store gift cards.

Locations in about three dozen other countries, including 420 company-owned stores and 370 international franchisee stores, will remain open.

Store closings 2019: Payless, Gymboree and Victoria's Secret are just some of the brands closing locations

New SUV: Tesla's new Model Y SUV hits the right note by playing it safe


Soldotna: Peninsula Center Mall, 44332 Sterling Hwy


Florence: 301 Cox Creek Parkway


Douglas: 100 W 5th St

Nogales: 210 W. Mariposa Road

Phoenix: Desert Sky Mall, 7611 W Thomas Rd

Phoenix: Paradise Valley Mall, 4550 E Cactus Rd


Chula Vista: Chula Vista Center, 555 Broadway

Chula Vista: Palomar Trolley Center, 648 Palomar Street

Concord: 5100 Clayton Rd Ste 18

Costa Mesa: 2200 Harbor Blvd

Escondido: 2355 E Valley Pky

Fallbrook: 1079 S Mission Rd

Fontana: 17064 Slover Ave Ste C104

Kerman: 15136 West Whitesbridge

Lake Elsinore: 17600 Collier Ave

Los Angeles: 1831 La Cienega Boulevard

Los Angeles: 2065 W 6th

Newark: 2215 Newpark Mall

Salinas: 712 E Alisal St

San Francisco: 4570 Mission St

Santa Maria: 1427 S Broadway

Stevenson Ranch: 25590 The Old Road

Tecate: 406 Tecate Rd

Van Nuys: 6633 Van Nuys Blvd

Woodland: County Fair Mall, 1264 E Gibson Rd


Aurora: 673 Peoria St

Denver: 821 16th St

Glenwood Springs: 51027 Hwy 6 and 24


Groton: 220 Rte 12 Unit 4

New Haven: 154 Amity Rd

Stamford: 55 Bedford Street

Trumbull: 100 Hawley Lane


Bradenton: 303 301 Blvd W 

Carol City: 18299 NW 27th Ave

Coral Springs: 9610 Westview Dr.

Fort Lauderdale: 1429 N W 40th Avenue

Fort Myers: 3792 Cleveland Ave

Hialeah: 3665 W 18th Ave

Hialeah: 3102 W 76th St

Kissimmee: 6123 W Irlo Bronson Highway

Miami: 3401 N Miami Ave

Miami: 7795 West Flagler St

Miami: 141 E Flagler St

Miami: 8020 NE 5th Ave

New Smyrna Beach: 1996 Hwy 44

Panama City Beach: 15565 Starfish St

Port Richey: 9409 US Highway 19

Tallahassee: 1500 Apalachee Pky Ste 1009

Tampa: 7021 W Waters Ave

Wellington: 10300 W Forest Hill Blvd


Athens: 3700 Atlanta Hwy

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Atlanta: 861 Ralph David Abernathy Blvd SW

Augusta: 3450 Wrightsboro Rd

Duluth: 2100 Pleasant Hill Rd

Lilburn: 4030 Lawrenceville Highway

Morrow: 2460 Southlake Mall


Moscow: 1996 W Pullman Rd


Aurora: 1246 N Lake St

Champaign: 2000 N Neil Street

Chicago: 1133 W Berwyn Ave

Chicago: 4707 S Kedzie

Crystal Lake: 230 W Virginia St

Lansing: 16745 Torrence Ave

Lincolnwood: 3333 W Touhy Ave

Norridge: 4202 N Harlem Ave Suite I

Quincy: 3255 Broadway


Aurora: 910 Green Blvd

Bloomington: 3066 E 3rd St

Columbus: 2296 25th St Space E118

Warsaw: 2818 Frontage Rd


Ames: 2801 N Grand Mall

Storm Lake: 111 Sale Barn Rd

West Burlington: 411 W Agency Rd


Dodge City: 2601 Central Ave

Hays: 2918 Vine St

Kansas City: 10920 Stadium Pkwy

Lawrence: 1540 Wakarusa Rd


Richmond: 424 Richmond Mall


Monroe: 3011 Louisville Ave


Chelsea: 464 Broadway

Danvers: 100 Independence Way

Dedham: 703 Providence Hwy

East Boston: 31-32 Central Square

Lynn: 17 State St

Marlborough: 601 Donald Lynch Blvd

Peabody: 210 Andover St

Revere: 339 Squire Rd

Roslindale: 960 American Legion Highway

Roxbury: 2189 Washington Street

Waltham: 104 River St


Baltimore: 200 E Pratt St

Baltimore: 6901 Security Blvd

Gaithersburg: 701 Russell Ave

Greenbelt: 6000 Greenbelt Road

Hyattsville: 3116 Queens Chapel Rd

Randallstown: 8624 Liberty Road

Silver Spring: 8661 Colesville Rd

Silver Spring: 11281 New Hampshire Ave

Temple Hills: 3863 Branch Ave Suite A


Westbrook: 11 Main St


Brighton: 9770 Village Place Boulevard

Dearborn: 18900 Michigan Ave

Gaylord: 1405 W Main St # 2

Grand Rapids: 3135 28th St Se Space F102

Harper Woods: 18000 Vernier Rd

Oak Park: 26142 Greenfield

Petoskey: 1131 US 31 North

Pontiac: 41 S Telegraph Rd

Redford: 9311 Telegraph Rd

Roseville: 26350 Gratiot Avenue

Sault Sainte Marie: 4312 I 75 Business Spur

Southfield: 20164 West 8 Mile Rd

Traverse City: 1708 S Garfield

Traverse City: 3200 S Airport Rd West

Troy: 668 West 14 Mile Rd

White Lake: 9066 Highland Rd


Brainerd: 14136 Baxter Dr

Eden Prairie: 125 Eden Prairie Center

Minneapolis: 3047 Nicollet Ave

Minnetonka: 12685 Wayzata Blvd Ste 248


Cape Girardeau: 3049 Williams St

Kansas City: 5908 Wilson Rd # 10

Kansas City: 1126 E Meyer Blvd

O Fallon: 2206 Highway K

Warrensburg: 320 E Young St


Vicksburg: 3505 Pemberton Square Blvd


Billings: 300 S 24th St W

Great Falls: 1200 10th Ave S

Kalispell: 20 N Main St

North Carolina

Jacksonville: 1375 Western Blvd

Lumberton: 5084 Fayetteville Rd


Grand Island: 3404 W 13th St Space A-9

Kearney: 5019 North 2nd Avenue

Lincoln: 6100 O Street #A194

North Platte: 1100 S Dewey St

Omaha: 2716 N 90th St

New Hampshire

Claremont: 345 Washington St

New Jersey

Atlantic City: 2022 Baltic Ave

Brick: 55 Brick Blvd

Carteret: 762 Roosevelt Ave

Freehold: 3681 Rte 9

Jersey City: 30 Mall Dr W

Jersey City: 317 Central Ave

Linden: 1601 W Edgar Road

Parsippany: 3085 Route 46

Perth Amboy: 146 Smith St

Plainfield: 201 East Front Street

Trenton: 635 S Clinton St #210

Wall Township: 1825 Hwy 35 #3

Westwood: 700-79 Broadway

Woodbridge: 102 Woodbridge Center Dr

New Mexico

Santa Fe: 4250 Cerrillos Rd Space 144


Las Vegas: 581 N Eastern Ave

Las Vegas: 4011 S Maryland Pky

New York

Amherst: 1259 C Niagara Falls Blvd

Brooklyn: 1112 Avenue J

Brooklyn: 1017 Flatbush Ave

Brooklyn: 2826 Church Ave

Brooklyn: 3773 Nostrand Ave

Buffalo: 390 Main Street

Elmira: 830 County Road 64

Farmingville: 2314 N Ocean Ave

Greece: 316 Greece Ridge Center Dr

Holbrook: 5801 Sunrise Hwy

Kingston: 304 Plaza Rd

Niagara Falls: 1648 Military Rd

Port Washington: 23 Soundview Marketplace

Rochester: 270 Elm Ridge Center Drive

Saratoga Springs: 3065 Route 50

Webster: 1900 Empire Blvd

Yorktown Heights: 650 Lee Blvd Space F-22


Boardman: 48 Boardman Poland Rd

Boardman: 7401 Market St

Cincinnati: 4601 Eastgate Blvd Bldg 832

Cleveland: 230 W Huron Road

Dublin: 5043 Tuttle Crossing Blvd

Euclid: 22388 Lakeshore Blvd

Lancaster: 1635 River Valley Cir

Marion: 1230 Mt Vernon Ave

Niles: 5555 Youngstown Warren Rd

Richmond Heights: 691 Richmond Rd


Okmulgee: 2008 S Wood Dr


Lebanon: 2562 S Santiam Highway

Ontario: 203 E Lane North


Allentown: 3300 Lehigh St

Bensalem: 801 Neshaminy Mall

Exton: 179 W Lincoln Hwy

Exton: 182 Exton Square Mall

Grove City: 1911 Leesburg Grove City Rd

Harrisburg: 4628 High Pointe Boulevard

Lancaster: 840 Park City Center

Philadelphia: 112 W Chelten Ave

Philadelphia: 6233 Woodland Ave # 35

Philadelphia: 34 S 52nd St

Philadelphia: 330-U Oregon Avenue

Pittsburgh: 56 Federal Dr

Scranton: 116 The Mall at Steamtown

Upper Darby: 230 S 69th St

Rhode Island

Wakefield: 160 Old Tower Road

Westerly: 100 Franklin Street Unit D

South Carolina

Florence: 2701 David H Mcleod Blvd


Goodlettsville: 1000 Rivergate Pkwy

Knoxville: 3006 N Mall Rd


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Abilene: 3520 N 1st St

Austin: 3220 Feathergrass Court

Dallas: 3131 Forest Lane

Dallas: 3230 W Davis St

Dallas: 3701 W Northwest Hwy

Edinburg: 405 E University Dr

El Paso: 800 S El Paso St

Fort Worth: 1822 Green Oaks Rd

Hidalgo: 400 South International Blvd

Houston: 6700 Hillcroft St

Houston: 12675 Bissonnet

Irving: 3723 Irving Mall

Laredo: 1119 Farragut St

Mercedes: 5001 East Expresway 83

Mission: 217 E Expressway 83

Odessa: 1001 E 8th St

Odessa: 4101 E 42nd St

Odessa: 3136 Andrews Hwy

Pasadena: 260 Pasadena Town Square Mall

Presidio: 1 Oreilly St

Roma: 6 E Grant St

San Antonio: 854 Nw Loop 410

Sherman: 4172 Town Center Street

Waco: 2600 W Loop 340


Pleasant Grove: 985 West State Road


Danville: 325 Piedmont Dr

Manassas: 8300 Sudley Rd

Virginia Beach: 4554 Virginia Beach Blvd

Woodbridge: 2700 Potomac Mills Circle


Bennington: 101 Benningtion Square


Lacey: 700 Sleater Kinney Rd Se

Pasco: 3427 W Court St

Sunnyside: 2010 Yakima Valley Hwy


La Crosse: 3800 State Road 16

Madison: 46 E Towne Mall

Milwaukee: 1001 West Mitchell St

Puerto Rico

Arecibo: 1400 Ave Miramar

Caguas: Plaza Centro 1 Space 60

Canovanas: 18400 State Road No 3

Manati: 10 Carr 149

Naranjito: El Mercado Plaza 33 Pr 152 Km. 16

San Juan: 65th Infantry Shopping Center

Vega Alta: Plaza Caribe Mall


Calgary: 1156-3800 Memorial Drive Ne

Calgary: 296 Shawville Blvd Southeast

Calgary: 317 7th Avenue SW

Edmonton: 2331 66th St NW

Edmonton: 122 101 102nd Ave

Edmonton: 82nd Ave/83d St

Fort Saskatchewan: 115 Cornerstone 8701 94th Street

Leduc: 5310 Discovery Way

Lethbridge: 501 1st Ave S

Red Deer: 4747 67th Street

Red Deer: 2004 50th Ave

Rocky View County: 261055 Cross Iron Blvd

St. Albert: 530-700 St Albert Trail

Abbotsford: 32900 South Fraser Way

Burnaby: 131 - 4800 Kingsway

Maple Ridge: 35 11900 Haney Place

North Vancouver: 1199 Lynn Valley Rd

Prince George: 6007 Southridge Avenue

Richmond: 1115-6551 No. 3 Road

Surrey: 7488 King George Hwy

Surrey: 2170 Central City

Surrey: 12477 88th Ave

Surrey: 12101 72nd Ave

Vancouver: 370 East Broadway

Winnipeg: 393 Portage Ave

Winnipeg: 1555 Regent Ave West

Bathurst: 930 St Anne St

Dieppe: 477 Paul St

Fredericton: 1381 Regent Street

Saint John: 519 Westmorland Road

Corner Brook: 44 Maple Valley Road

St. John's: 48 Kenmount Road

St. John's: 430 Topsail Road

Bedford: 105 Damascus Road

Dartmouth: 21 Micmac Boulevard

Dartmouth: 89 Hector Gate

New Glasgow: 689 Westville Rd

New Minas: 52 Silver Fox Ave

Sydney: 800 Grand Lake Road

Ajax: 40 Kingston Rd E

Aurora: 91 First Commerce Dr

Bolton: 50 Mcewan Dr East J3

Brampton: 499 Main St South

Burlington: 4517 Dundas Unit B5

Burlington: 777 Guelph Line

Burlington: 900 Maple Avenue

Chatham: 100 King St West

Etobicoke: 2261 Islington Avenue

Etobicoke: 500 Rexdale Boulevard

Etobicoke: 1530 Albion Rd

Etobicoke: 250 The East Mall

Georgetown: 280 Guelph St

Hamilton: 2 King Street West

London: 340 Clarke Road

Midland: 16821 Hwy 12

Mississauga: 1250 S Service Rd

Mississauga: 5100 Erin Mills Pkwy

Mississauga: 2225 Erin Mills Parkway

Nepean: 80 Market Place Ave

Newmarket: 18040 Yonge St

North York: 6464 Yonge St

North York: 1700 Wilson Ave

North York: 700 Lawrence Ave West

North York: 1383 Lawrence Avenue West

Orillia: 3275 Monarch Dr

Orleans: 110 Place D'orleans Dr

Oshawa: 1401 Harmony Rd North

Ottawa: 1200 St Laurent Blvd

Owen Sound: 1350 16th St East

Pickering: 1899 Brock Rd Bldg H

Richmond Hill: Bldg M Unit 1

Richmond Hill: 9350 Yonge Street

Sault Ste. Marie: 518 Great Northern Rd

Scarborough: 785 Milner Ave

Scarborough: 31 Tapscott Road

Scarborough: 3495 Lawrence Ave East

Scarborough: 1 Eglinton Square East

Scarborough: 1900 Eglinton Ave E

St Catharines: 221 Glendale Ave

St Catharines: 285 Geneva St

St Thomas: 417 Wellington St

Stoney Creek: 75 Centennial Pkwy North

Stratford: 1067 Ontario St

Thunder Bay: 1000 Ft William Rd

Tillsonburg: 200 Broadway Street

Toronto: 900 Dufferin St

Toronto: 1000 Gerrard Street East

Toronto: 673 Yonge St

Whitby: 150 Taunton Road W

Windsor: 3160 Dougall Ave

Windsor: 7650 Tecumseh Rd East

Summerside: 454 Granville St N

Brossard: 2151 Boul Lapiniere

Dorval: 372 Ave Dorval

Gatineau: 1100 Maloney Blvd West

Lasalle: 7077 Newman Boulevard

Laval: 3035 Boul Le Carrefour

Laval: 1600 Le Corbusier Boulevard

Laval: 5405 Boulevard Robert-Bourassa

Longueuil: 825 Ouest St Laurent

Mascouche: 117 Montee Masson

Montreal: 7275 Rue Sherbrooke Est

Montreal: 7043 St Hubert

Montreal: 625 Rue Ste Catherines W

Montreal-Nord: 6158 Boul Henry Bourassa East

Pointe-Aux-Trembles: 12675 Sherbrooke St East

Pointe-Claire: 6815 Autoroute Transcanadienne

Quebec City: 2700 Blvd Laurier

Saint-Bruno: 506 Boulevard Des Promenades

Saint-Laurent: 3131 Cote Vertu

Saint-Leonard: 4278 Jean Talon St E

Sorel-Tracy: 450 Proliqoin Blvd

Westmount: 1500 Atwater

Prince Albert: 800-15th St East

Regina: 4638 Gordon Road

Regina: 2102 11th Ave

Regina: 489 Albert St N

Saskatoon: 134 Primrose Dr

Saskatoon: 21st St East

Saskatoon: 2325 Preston Ave

Follow Kelly Tyko on Twitter: @KellyTyko

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When Facebook and Instagram are down, small businesses and big brands can suffer - USA TODAY

Posted: 14 Mar 2019 04:05 PM PDT

For Maatie Alcindor, Facebook is less about reaching out to old friends and more about connecting with new clients. 

"Social media is very integral to my real estate business,'' said Alcindor, 47, who is a real estate agent based in Montclair, New Jersey. "I think these days, it's integral to everyone's business.''

So when Facebook and Instagram were down for several hours on Wednesday, she had to figure out how to communicate in a more old fashioned way. "It was like, if I'm not able to post in the manner I want to, I'm going to have to send out a mailer,'' she said. "So I started working on a flyer.''

Facebook's outage was one of the longest in the social network's 15-year history, but hours without it and Instagram wasn't just a day of missed gossip and selfies. For some, it was a lost day of business, as entrepreneurs and companies increasingly rely on social media to find customers, sell merchandise, and build buzz about their brands.

The number of platforms has grown to include Alignable, which specifically targets small business owners, and Meetup, which allows people to form groups for professional as well as social reasons.

But Instagram has emerged as one of the most popular social media portals to help sell merchandise or build a brand.

Instagram debuted its shopping feature in 2017, enabling users to click on a brand's tagged post or the "shop'' button and then buy the lipstick, or pair of shoes that they spot and covet. Last year, the company said over 200 million Instagram users globally looked at one or more business profiles daily.

The online consignment shop thredUP "reaches millions of people organically on our Instagram, beyond our current followers,'' says Madeline Aaronson, thredUP's senior manager of organic growth. "Because of this, we think of Instagram as our second homepage, where many shoppers stop to check out our brand.''

Facebook passes blame: Facebook and Instagram blame server configuration change for outage

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Now iCloud's having issues: One day after Facebook and Instagram went down, iCloud has problems

Facebook expanding its messaging:Cross-platform messaging between Instagram, WhatsApp and Messenger

Shinola, the watch and bike company that started up less than a decade ago, says social media has helped it interact with its shoppers.

"Social media is a great platform for Shinola as we continue to build our business,'' says CEO Tom Lewand. "While we know more and more people shop using social media, the best use for us (is) to connect with our customers on a more personal basis and getting their direct feedback."

Coach live streamed a runway show featuring its pre-fall 2019 line in Shanghai, China, in December. It got more than 7 million views collectively on Instagram and Facebook as well as portals like Weibo, Tencent, and WeChat. Earlier last year, it featured another fashion show on Facebook and Instagram to drive traffic to its website for a then-limited time handbag dubbed the "Dreamer.''

Social media has also become a key platform and tool for the $34-billion direct selling industry, which enables independent contractors to sell products and services for companies as varied as Isagenix and Mary Kay.  

"The sales force has always been ... on the cutting edge of new media, new sales techniques, and in that regard, they led the companies that way,'' said Joe Mariano, president of the Direct Selling Association, who noted that such platforms are especially appealing to younger sellers and business owners.

"The advantage of social media is that's where the people are and it allows you to expand your reach significantly beyond just face to face transactions,'' Mariano says. "Obviously you can speak to people abroad. You can speak to people across the country, and have personal and very real interactions any time the customer wants.''

Bill Constain, who owns a financial firm in Ponte Vedra Beach, Florida, and is also a seller for the weight-loss supplement company Isagenix says that he's gotten numerous clients and customers through Facebook and LinkedIn.

"With social media, more and more people do business without even a phone call,'' he said. "It's been a great thing.''

Alcindor says her primary go-to is Instagram where she not only posts pictures of the houses she's selling and neighborhoods she finds interesting but other details that tell potential clients more about her as a person.

One day, when rain threatened to make an open house she was hosting a bust, she taped a video of each floor of the home and posted it.  "That got some people over who wanted to see it in person,'' she says.

If not for her business, Alcindor says that she wouldn't be on Facebook nearly as much. 

"If I do something on Instagram, I push it instantly to Facebook,'' she says adding that she then monitors how people are responding. "They have analytics so you can gauge what are people responding to, so you can give them more of that."

Social media has widened her professional network as well, enabling her to get referrals from agents she's connected with in other states. And she's part of a group interested in various aspects of real estate, from investing to design, who gather via Meetup.

Next on her list is a vlog on YouTube with another realtor to talk about the industry. 

"I'm finding all sorts of different ways to reach more people,'' Alcindor says. 




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Sunday Business Briefs, 3-17-19 - Burlington Times News

Posted: 15 Mar 2019 10:32 PM PDT

Timken to present at conference

NORTH CANTON, Ohio — The Timken Company (NYSE: TKR;, a world leader in engineered bearings and power transmission products, will present at the Bank of America Merrill Lynch Global Industrials Conference on March 19 at 2:50 p.m. in London (10:50 a.m. Eastern Daylight Time).

Presenting on behalf of Timken will be Richard G. Kyle, president and chief executive officer; and Philip D. Fracassa, executive vice president and chief financial officer.

A live webcast of the presentation will be available for download at A replay of the webcast will be posted via the same website link until April 2.


Energizer introduces new branding

ST. LOUIS — Energizer Holdings, Inc. (NYSE: ENR) recently introduced new branding for industry-leading auto care appearance brands, Eagle One and Lexol, including new logos, color, packaging, taglines and more. Additionally, its auto fragrance brand, Refresh Your Car!, launched the Essentials Collection, a brand new essential-oils-based product line.

These products are now available in select retailers nationwide.

"Auto enthusiasts around the country have come to expect high-quality products and the latest innovations from our classic auto appearance and fragrance brands," said Lori Shambro, Vice President of Global Marketing for Energizer Holdings, Inc. "Through in-depth market research, we've created new branding and product offerings that align with what our consumers are looking for, while maintaining the proven formulas that they have come to know and trust."


Smithfield donates to food banks

SMITHFIELD, Va. — Smithfield Foods Inc. has donated more than 326,000 pounds of protein to four food banks throughout North and South Carolina as part of the company's 2019 Helping Hungry Homes donation tour.

The hunger-relief initiative focuses on alleviating hunger and helping Americans become more food secure.

The donations, equivalent to more than 1.3 million servings, will help families fight hunger across the Carolinas through the Lowcountry Food Bank and Harvest Hope Food Bank in South Carolina, and the Second Harvest Food Bank of Metrolina, which includes Randolph County, and the Food Bank of Central & Eastern North Carolina in North Carolina.


Construction jobs up in N.C.

ARLINGTON, Va. — Construction employment decreased by 31,000 jobs in February as extreme winter weather gripped much of the nation, according to an analysis of new government data by the Associated General Contractors of America.

However, North Carolina was one of the states with one-month construction job gains and had the largest pickup.

Seasonally adjusted construction employment for the state was 215,800 for January 2018; 219,700 for November 2018; 219,600 for December 2018; and 225,800 for January 2019. Construction employment increased 6,200 from December 2018 to January 2019, or 2.8 percent. The percent rank, based on 50 states plus D.C., was 5. The gain from January 2018 to January 2019 was 10,000, or 4.6 percent, with a percent rank of 19.


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Apple Says App Store Helped Spotify Become Business It Is Today - Bloomberg Law

Posted: 15 Mar 2019 06:18 AM PDT

Apple Inc. fired back at Spotify Technology SA's antitrust complaint, saying the music streaming giant wants all the benefits of its app store without contributing to the marketplace.

The iPhone maker said the App Store contributed to Spotify becoming the business it is today, a public company that generates over a billion dollars of revenue per quarter, according to a statement on March 15.

Spotify, which offers both free and paid services, complained to the European Union's powerful antitrust agency...

Stocks under pressure | Trump cuts summit short | GDP data set - CNBC

Posted: 28 Feb 2019 12:00 AM PST

Futures were lower this morning after the U.S.-North Korean summit ended without an agreement. The Nasdaq managed to eke out a small gain yesterday and finished at its highest since November 7. The Dow and S&P 500 were lower for a second straight day. (CNBC)

* South Korean stocks and won sell off (CNBC)
* Cramer explains the six things going right in the economy that are helping him sleep at night (CNBC)

On the data front this morning, the shutdown-delayed first look at fourth quarter GDP will be out at 8:30 a.m. ET. At the same time, the Labor Department will issue its weekly look at initial jobless claims. The Chicago Purchasing Managers Index is out at 9:45 a.m. ET. (CNBC)

* Fourth quarter growth expected to fall back to slower trend, hit by trade (CNBC)

Fed Vice Chairman Richard Clarida, Atlanta Fed President Raphael Bostic, Philadelphia Fed President Patrick Harker, and Dallas Fed President Robert Kaplan all have public appearances during the trading day. Cleveland Fed President Loretta Mester and Fed Chairman Jay Powell attend events that take place after the market close. (CNBC)

J.C. Penney (JCP), (JD), Keurig Dr Pepper (KDP), Nielsen Holdings (NLSN), Party City (PRTY) and PG&E (PCG), are among the quarterly earnings this morning, while Autodesk (ADSK), Gap (GPS) and Marriott (MAR) are among the companies out with their numbers after today's closing bell. (CNBC)

* Tech stocks take a beating Wednesday on disappointing earnings reports (CNBC)

President Donald Trump said he cut short his nuclear summit with North Korean leader Kim Jong Un because the two sides could not agree on sanctions. A previously planned joint signing ceremony was cancelled. (CNBC)

Trump said accusations by his former lawyer Michael Cohen were "inaccurate," called the congressional hearing "fake" and insisted that there wasn't any collusion between his campaign and Russia during the last election. (CNBC)

* Stormy Daniels tells Cohen: 'I'm proud of you' (CNBC)
* Cohen brings Trump's net worth statements to hearing. How to read them (CNBC)

Former Vice President Joe Biden has been receiving regular briefings from executives at digital and social media companies in order to learn strategies for appealing to young voters if he were to run for president again. (CNBC)

House Democrats introduced a plan to insure all Americans through Medicare, as the push for a sweeping shift to universal health coverage gains more traction ahead of pivotal elections next year. (CNBC)

* Health care spending more than just the parts you see (Axios)

A political firestorm surrounding Canadian Prime Minister Justin Trudeau has became more damaging.Trudeau's former justice minister accused his top aides of pressuring her to drop the prosecution of a global engineering firm. (WSJ)

Southwest Airlines (LUV) got approval from the Federal Aviation Administration to fly to Hawaii from the West Coast. It had to show regulators its ability to fly its jets over water for extended periods of time away from diversion airports. (CNBC)

CNBC has learned that Amazon (AMZN) has tapped 14-year company veteran Nader Kabbani to run its new pharmacy business, including the team that came in through last year's acquisition of PillPack.

* Amazon reportedly pulls out of Seattle office tower after abandoning NYC HQ2 (CNBC)

The Food and Drug Administration will hold its first public hearings on CBD in April as the agency weighs rules allowing companies to add the popular cannabis-based compound to food, Commissioner Scott Gottlieb announced. (CNBC)

Celgene (CELG) shares are under pressure after major Bristol-Myers Squibb (BMY) shareholder Wellington Management said it would not support the acquisition. Wellington said it thinks Bristol-Myers shareholders are accepting too much risk and that Celgene shareholders are getting the drug maker's shares at well below implied asset value. Bristol-Myers said it believed the acquisition was taking place at an attractive price, and that it was an important opportunity to create sustainable value.

HP Inc. (HPQ) earned an adjusted 52 cents per share for its latest quarter, matching Wall Street forecasts. However, the computer and printer maker did see revenue miss estimates amid weakness in printer supply sales. HP said its market share and pricing for those supplies came under pressure during the quarter.

Box (BOX) reported adjusted quarterly profit of six cents per share, beating the consensus estimate of two cents. The cloud storage firm, however, did see revenue fall below forecasts, as was its forward guidance.

Square (SQ) beat estimates by a penny with adjusted quarterly earnings of 14 cents per share, while the digital payment company's revenue also beat forecasts. However, Square's current quarter outlook is below some analyst forecasts.

Booking Holdings (BKNG) earned $22.49 per share for its latest quarter, compared to a consensus estimate of $19.42. The operator of Priceline and other travel websites did see revenue fall below estimates, and its current quarter guidance was below consensus as well.

L Brands (LB) came in seven cents above estimates with adjusted quarterly profit of $2.14 per share, while the fashion retailer's revenue fell below forecasts on declining sales at its Victoria's Secret brand. IT also issued weaker than expected full year guidance.

Tesla (TSLA) was designated as a "Fresh Pick" at Baird, which also reiterated an "outperform" rating. Baird said pessimism on Model 3 demand is overblown, and that weak Q1 delivery expectations are already priced into the stock.

Fitbit (FIT) earned 14 cents per share for the fourth-quarter, double what Wall Street was expecting, and the fitness device maker's revenue also beat estimates. However, revenue and profit guidance for the current quarter is weaker than expected, with Fitbit saying it expected an increase in devices sold but a decline in the average selling price.

Smartphone innovation has plateaued in offering must-have features, so consumers aren't spending lots of money to upgrade anymore. The Galaxy S10+ is no exception. CNBC's Todd Haselton reviews the Samsung Galaxy S10+.

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