Top news and what to watch in the markets on Tuesday, May 7, 2019.
Buffetts deputies stock picks are beating his own
Asia stocks mostly higher after Trump trade threat
Lyft reports What to know in markets Tuesday
Walmart targets millennials by offering pet care
National Houston-based retailer plans at least 20 store closures, other turnaround efforts
Houston-based boutique retail chain Francescas Holding Corp. (Nasdaq: FRAN) released its delayed earnings report on May 3, as expected. On a conference call to discuss fourth-quarter and full-year results for fiscal 2018, which ended Feb. 2, interim CEO Michael Prendergast also outlined steps the company has taken over the past few months to implement turnaround measures. One of the companys previous missteps had been expanding its number of stores without adequately managing its existing fleet, Prendergast said on the call, according to a transcript from Seeking Alpha.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.86 per share. The aircraft components maker posted revenue of $1.2 billion in the period, also exceeding Street forecasts.
TravelCenters of America LLC (TA) on Tuesday reported a loss of $12.7 million in its first quarter. On a per-share basis, the Westlake, Ohio-based company said it had a loss of 32 cents. Losses, adjusted for non-recurring gains, were 36 cents per share.