Wall Street faces profit recession as earnings season begins
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- Wall Street ends lower as solid jobs data fuels hawkish Fed bets
- US nonfarm payrolls blow past expectations in August; unemployment rate steady at 4.1%
- BofA's Hartnett says stay long commodities and gold as 'policy panic' works
- Oil ends week higher on renewed US-Iran strikes, diesel hits record
- TikTok owner ByteDance said to secure $29.6bn loan for AI push
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Starboard Sends Letter to Macy's (M); Outlines Real Estate Portfolio Plan
January 11, 2016 8:19 AM ESTStarboard Value LP, a significant shareholder of Macy's, Inc. (NYSE: M), announced that it has released presentation materials outlining Starboard's proposed strategy and structures for unlocking the enormous value intrinsic of Macy's $21 billion real estate portfolio. Starboard also announced that it has delivered a letter to Macy's CEO, CFO and Board of Directors.
Starboard's Presentation on Maximizing Macy's Real Estate is available for viewing at the following link:... More
Wedbush Cuts Price Target on GameStop (GME) Ahead of Holiday Sales Release
January 11, 2016 8:05 AM ESTWedbush maintained an Outperform rating GameStop (NYSE: GME), and cut the price target to $42.00 (from $45.00), ahead of the company's Holiday Sales report. Wedbush expects GameStop to lower the high ends of its comps guidance ranges to reflect weaker-than-expected new software sales while leaving EPS guidance unchanged.
Analyst Michael Pachter commented, "We expect GameStop to lower the high ends of its comps... More
