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“There was a lot of early morning fear, and when the market didn’t accelerate further to the downside, you saw some people coming in to pick up some stocks,” said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey. The day’s earnings disappointments aside, he said, technology earnings later this week could be upbeat. Microsoft, Intel and Alphabet all are due to report this week. The Dow Jones Industrial Average fell 125.98 points, or 0.5 percent, to 25,191.43, the S&P 500 lost 15.19 points, or 0.55 percent, to 2,740.69 and the Nasdaq Composite dropped 31.09 points, or 0.42 percent, to 7,437.54.
The S&P 500 has declined for five straight sessions and is now down 6.5 percent from its record closing high on Sept, 20, The Nasdaq again flirted with correction territory, falling more than 10 percent from its Aug, 29 record closing high before paring losses to end off those levels, Earnings from S&P 500 companies are expected to have increased about 22 percent in the third quarter from a year ago, though 2018 is seen as a peak for the profit cycle, according to I/B/E/S data custom cufflinks nyc from Refinitiv, Among gainers, McDonald’s rose 6.3 percent after it beat estimates for quarterly same-store sales on strong demand in international markets, while Verizon rallied 4.1 percent after it beat estimates for profit and net new phone subscribers..
NEW YORK (Reuters) - Target Corp, aiming to one-up retail rivals during the upcoming U.S. holiday shopping season, said on Tuesday it was adding more delivery and pickup options for online shoppers to have items shipped to their homes or ready for quick pick-up at local stores. The Minneapolis-based retailer will offer free two-day shipping on hundreds of thousands of items from Nov. 1 to Dec. 22 with no order minimum or membership required. Target had announced the shipping service in March. Target’s two-day shipping option is less expensive than Amazon.com Inc’s, which requires an annual subscription fee of $119 under its Prime membership service. Walmart Inc offers free two-day shipping for a minimum order of $35.
Target will also expand its Drive Up Service, which allows customers to place orders online and have packages brought to their cars by the retailer’s employees, It will include nearly 1,000 stores by the end of custom cufflinks nyc October, ahead of schedule, The company currently fulfills about 50 percent of its digital orders from inventory at its stores and plans to increase that to 90 percent, Target will also offer same-day delivery on 55,000 items with Shipt, a company it bought for $550 million last year, in “hundreds of markets.” Shipt will offer the service in 200 markets, up from 160 announced earlier..
The biggest changes the retailer has made to its business over the past five years have been on order fulfillment, the final mile of delivering orders from a warehouse or store to shoppers’ homes, Target Chief Executive Officer Brian Cornell told reporters at a briefing on Tuesday. The offerings will be part of the “Target Run and Done” holiday promotional campaign. Cornell also said Target’s holiday hiring plans are on schedule. The retailer has received over 100,000 applications in a tight labor market and is seeing a 40 percent rise in job applications for its warehouses. In September, Target said it would hire 120,000 seasonal workers at wages starting at $12 an hour. The company has made a commitment to go up to $15 an hour by 2020.
Last week, Target said it will dedicate nearly a quarter of a million square feet of new space to its toy business across 500 stores, seeking more holiday custom cufflinks nyc toy sales after retailer Toys “R” Us Inc went bankrupt this year, Target had said its shoppers will be able to shop for more than 2,500 new and exclusive toys, Rival Walmart Inc has made a similar push for gaining market share in toys, In August, Target reported its strongest comparable store sales growth in 13 years and said a strong economy lifted customer visits to the most in a decade..
CHICAGO (Reuters) - Caterpillar Inc (CAT.N) tried on Tuesday to ease mounting concerns about China and global demand after it affirmed its 2018 profit estimate, a move that investors feared signaled a cap in earnings growth and sparked a sell-off in its shares. The Deerfield, Illinois-based company has boosted the full-year profit outlook twice in the first two quarters of this year. That had built hopes of yet another upgrade. But the company retained its 2018 adjusted profit forecast of $11.00 to $12.00 per share, saying nothing material had changed since the last revision in July.
The move came days after China reported the weakest economic growth since the global financial crisis, and the International Monetary Fund cut the global custom cufflinks nyc growth outlook for 2018 and 2019, The industrial bellwether, however, said it expected the Chinese market to remain healthy, leading to a 40 percent annual increase in industry sales for standard full-size excavators this year, “We are very comfortable with the outlook for China,” Chief Financial Officer Andrew Bonfield said in an interview, “We still expect to have another good year in China.”..