Stocks are making the biggest steps


Stocks are making the biggest steps

Shares of Richardson Electronics advanced nearly 0.72% after Richardson Electronics reported a narrower loss for its fiscal third quarter than a year earlier. The engineering services firm also reported higher-than-expected earnings.

Shares of club retailer Costco Wholesale retreated 2.52% after Costco reported total retail sales of $21.72 billion in March, down 1.2% from last year. Comparable sales growth was positive when excluding gasoline price differentials and foreign currency impacts. Net sales advanced by 0.5%.

Shares of beverage company Constellation Brands edged up slightly after Constellation Brands released its latest quarterly earnings. The company earned $1.99 per share, beating Refinitiv research.

FedEx Corporation shares advanced 1% a day after announcing cost-cutting restructuring moves.

Shares of Pinterest advanced 1.22% after Raymond James said he had started to publicize Pinterest in better ways. The company said it expects steady customer growth and double-digit long-term revenue growth.

Levi Strauss Shares of Levi Strauss fell 4% after it reported its fiscal fourth-quarter results and once again posted strong and strong earnings per share. The CFO said the annual guidance reflects cautious plans for the macro environment. Levi Strauss beat expectations reporting earnings of 34 cents a share on revenue of $1.69 billion. Analysts polled had expected earnings of 32 cents a share on revenue of $1.63 billion.

European stocks rise

European stocks advanced while Wall Street futures retreated as weaker-than-expected jobs statistics fueled investor concerns about a looming US recession.

Across Europe, the Stoxx 600 added 0.52 percent. Germany’s Dax rose 0.32 percent as industrial production in the eurozone’s biggest economy advanced 2 percent in February, after a 3.72 percent jump in January, well above the 0.1 mark. London’s FTSE 100 advanced 0.72 percent.

Hong Kong’s Hang Seng index was flat in Asia, China’s CSI 300 retreated 0.12 percent, and Japan’s Topix slipped 0.9 percent.

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