Sears surprise; Stocks stabilize; iHeartMedia bankruptcy

1. Retail watch: Shares in Sears are set to surge Thursday after the retailer reported better-than-e...

Posted: Mar 15, 2018 11:41 PM

1. Retail watch: Shares in Sears are set to surge Thursday after the retailer reported better-than-expected fourth quarter results and a boost to profit from US tax changes.

Another major retailer -- Toys "R" Us -- has announced that it will close its doors after 70 years in business.

The iconic toy seller will shut or sell all of its 735 stores in the United States, according to court documents filed early Thursday. About 31,000 US jobs are at risk.

2. BrokenHeartMedia: San Antonio-based iHeartMedia has filed for bankruptcy after being crippled by falling revenue and piles of debt.

The company is best known for operating about 850 radio stations across the United States.

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3. Moving out: Unilever has selected the Dutch city of Rotterdam as the location of its corporate headquarters, ending nearly a century of residency in London.

The consumer goods company said in a statement Thursday that it would use Rotterdam as its sole legal home amid a broader shake up of its corporate structure.

Unilever shares will continue to be listed in London, Amsterdam and New York. The company said that its 10,000 employees in the Netherlands and the UK would not be affected.

The company owns brands including Dove and Lipton.

4. Stocks stabilize: US stock futures were inching up after a rough trading session on Wednesday.

The Dow slid 249 points, or 1%, after President Donald Trump escalated threats to clamp down on China. The S&P 500 dropped 0.6%, and the Nasdaq shed 0.2%.

European markets posted minor gains and losses in early trading. Asian markets ended mixed.

5. Earnings: Shares in German airline Lufthansa were flat after the company reported solid growth in revenue and earnings for 2017. CEO Carsten Spohr said it was "the best result in the history of our company."

Dollar General is releasing earnings before the US open. Adobe Systems and Broadcom will follow after the close.

Broadcom withdrew a $117 billion offer for its rival Qualcomm on Wednesday after Trump stopped the deal, citing national security concerns.

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6. Coming this week:

Thursday -- Broadcom earnings
Friday -- Tiffany earnings

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Alabama Coronavirus Cases

Confirmed Cases: 89927

Reported Deaths: 1580
CountyConfirmedDeaths
Jefferson11650225
Mobile8998191
Montgomery6198143
Madison493225
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Baldwin317522
Shelby300232
Marshall294730
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Jackson8163
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Dale77619
Butler75135
Blount7223
Covington70420
Coffee7035
Chilton6976
Pike6547
Barbour5625
Lowndes54624
Marion53524
Marengo51514
Clarke4849
Hale44925
Bullock43711
Perry4284
Winston42811
Wilcox4029
Monroe3884
Randolph38810
Conecuh37110
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Sumter36118
Washington31011
Macon30813
Lawrence3060
Crenshaw2843
Choctaw27312
Henry2433
Greene24011
Cherokee2337
Geneva2260
Clay2165
Lamar1942
Fayette1695
Cleburne1141
Coosa902
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Tennessee Coronavirus Cases

Confirmed Cases: 109627

Reported Deaths: 1073
CountyConfirmedDeaths
Shelby21296285
Davidson19320199
Rutherford604251
Hamilton562147
Knox392634
Williamson323022
Sumner316069
Unassigned29244
Out of TN282312
Wilson206420
Montgomery171111
Bradley170510
Sevier17025
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Robertson143216
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Washington10382
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Bedford86210
Macon83413
Hardeman79411
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Lake7440
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Fayette6178
Anderson5995
Dickson5871
Gibson5582
Cheatham5445
Dyer5427
Rhea4971
Jefferson4892
McMinn47920
Lawrence4746
Obion4274
Henderson4260
Carter4245
Lauderdale4216
Coffee4112
Warren4004
Hardin3987
Cocke3911
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Greene3695
Haywood3695
Smith3613
Monroe3569
Roane3561
Giles3449
Hawkins3244
McNairy3105
DeKalb3041
Franklin2854
Marshall2632
Weakley2603
Lincoln2511
Carroll2263
Hickman2260
Crockett2233
Wayne2141
Claiborne2120
Henry2110
Campbell2071
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White1913
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Johnson1600
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