TOP STORIES
U.S. JOBLESS CLAIMS FALL FOR SECOND STRAIGHT WEEK
The number of Americans applying for unemployment checks fell
last week, suggesting employers continue to expand modestly and the
labor market in the world's largest economy remains strong.
DURABLE GOODS ROSE 3.4%, BUT DEMAND STILL SOFT
Orders for long-lasting goods increased a sizeable 3.4% in April
due to a 64.9% surge in the volatile civilian-aircraft category.
But underlying data still showed soft demand for other manufactured
products.
ENERGY SHARES RISE, AS OIL TOPS $50
U.S. stocks inched higher Thursday, buoyed by the energy sector,
as crude-oil prices topped $50 a barrel.
WENDY'S MAKES NEW CEO OFFICIAL
Wendy's officially tapped finance chief Todd Penegor to become
the fast-food chain's chief executive, part of a previously
announced succession plan.
FED'S BULLARD SEES MORE FACTORS FAVORING GRADUAL U.S. INTEREST RATE INCREASES
Federal Reserve Bank of St. Louis President James Bullard said
he sees more factors in favor of a gradual pace of U.S.
interest-rate increases.
DOLLAR GENERAL TOPS VIEWS AMID CONTINUED SALES IMPROVEMENT
Dollar General posted earnings for the most recent quarter well
above market views as sales at the discount retailer continued to
climb and margins improved.
EU CLEARS HEIDELBERGCEMENT'S DEAL TO BUY 45% STAKE IN ITALCEMENTI
The European Union approved HeidelbergCement's $1.86 billion
deal to acquire a 45% stake in Italcementi, on the condition the
merged company divests all of the Italian cement-maker's business
in Belgium.
GM RECALLS 2.16 MILLION CARS IN CHINA
General Motors Co. and its Chinese partner will recall 2.16
million cars in China because of faulty crankcase valves, the
country's quality regulator said.
TD BANK PROFIT CLIMBS 10%
Toronto-Dominion Bank on Thursday reported a
better-than-expected 10% increase in its fiscal second-quarter
profit, helped by stronger earnings from its retail operations in
both Canada and the U.S.
SIGNET GIVES MOSTLY WEAK OUTLOOK; PROFIT RISES 24%
Signet Jewelers Ltd. issued guidance for the current quarter
mostly below Wall Street's expectations as the retailer reported
that its earnings rose 24% in the April quarter.
CHICO'S UNVEILS MORE COST-CUTTING EFFORTS
Chico's, under pressure from an activist investor, reported
quarterly results that missed expectations and said it had stepped
up its cost-cutting efforts.
SEARS EYES OUTSIDE DEALS FOR KEY BRANDS AS REVENUE FALLS
Sears Holdings Corp. reported narrow improvement in its bottom
line in the first quarter as the retailer trimmed expenses, though
revenue continued to slide and margins contracted.
OIL PRICES RISE ABOVE $50 A BARREL
The price of both Brent crude and WTI rose above $50 a barrel on
Thursday, as declines in U.S. crude stocks boosted the price of a
commodity that is suffering from a yearslong supply glut.
IONIS'S SHARES FALL AFTER CO-DEVELOPER OPTS AGAINST STARTING LATE-STAGE TRIAL
Ionis Pharmaceuticals said partner GlaxoSmithKline has opted
against initiating a phase-three study of a treatment for a rare,
potentially fatal organ condition.
ABERCROMBIE'S SALES SLIP AS FEWER SHOPPERS VISIT ITS STORES
Abercrombie & Fitch Co.'s turnaround efforts were derailed
last quarter as fewer shoppers visited its stores and the teen
retailer tried to hold the line on discounts.
BURLINGTON STORES RAISES OUTLOOK, PROFIT RISES 46%
Burlington Stores raised it guidance for the current year as the
off-price apparel retailer reported that its earnings rose 46% for
the three-month period ended in April.
SONY PLAYSTATION 4 SALES TOP 40 MILLION
Sony said it has sold more than 40 million units of its flagship
videogame console PlayStation 4, highlighting strong momentum at
the company's the fastest-growing unit.
GE TO SUPPLY ENGINES FOR SOUTH KOREA'S NEW FIGHTERS
General Electric's deal to supply engines for South Korea's
next-generation fighter jets is estimated to be valued at $3.5
billion.
ROYAL BANK OF CANADA POSTS BETTER-THAN-EXPECTED PROFIT
Royal Bank of Canada reported fiscal second-quarter earnings
that increased 3% from a year earlier even as it set aside more
money to cover soured loans.
OPEC ZEROES IN ON NEW LEADER
OPEC is likely to choose a new secretary-general at its meeting
next week, the only concrete action the cartel is expected to take,
said national delegates of the group.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Markets Main
BIS UNVEILS GLOBAL CODE OF CONDUCT FOR FOREIGN-EXCHANGE TRADING
A body of global standards-setters Thursday laid out new
principles for the safer and more transparent functioning of the
world's foreign-exchange markets, aiming to restore trust in
currency trading following incidents of misconduct in recent
years.
Technology
EU PRIVACY CASE ADDS NEW THREAT TO DATA FLOWING TO U.S.
One of the last legal methods that companies have to store
Europeans' data on servers in the U.S. was thrust deeper into limbo
when a privacy regulator said it would ask Europe's top court to
review its legality.
(END) Dow Jones Newswires
May 26, 2016 10:00 ET (14:00 GMT)
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