Bad news across the Atlantic continues with a sharp loss in the services industry for European countries. Yesterday, housing starts and permits reports were lower than expected, but still within range of analysis expectations. Existing home sales grew 7.0%.
Rite Aid Corp. (RAD| +0.77% [1.34]) released earnings reports this morning and posted 41.4M in losses, an improvement from the same quarter of last year’s 94.8M losses. Analysts expected a loss of $0.07 a share and Rite Aid beat the expectation, losing only $0.05 a share.Weekly jobless claims reports are released this morning at 8:30am EST with an expected claim drop at about ten thousand this week. The Philadelphia Fed survey will follow at 10:00am, which is an index of general business and manufacturing conditions. The index is expected to decline, but at a lesser pace than last month.
Other post-earnings stocks to keep your eyes on are Bed, Bath, and Beyond (BBBY | 68.79) which is down $-3.44, or 5%, after higher costs left earnings unable to meet analysts’ expectations. Expectations were higher this quarter because of improved government data on same-industry sales.