Apple slide drags on Wall Street; yen weakens

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UBS Cuts Price Target on Macy's (M) to $33 Following 1Q Report

May 12, 2016 8:10 AM EDT

UBS maintained a Neutral rating on Macy's (NYSE: M), and cut the price target to $33.00 (from $41.00), following the company's 1Q earnings report. Macy's reported better-than-expected GM at +10bp, compared to the Street at -80bp. Management said 2Q is unlikely to improve. EPS guidance was cut... More