Wall Street gained on Thursday, led by financial shares, after data showed U.S. economic growth was stronger than previously reported last quarter, helped by robust consumer spending, and the tech-heavy Nasdaq set a record closing high.
Recent Business News
The steep drop in Lululemon Athletica's stock price, following a sales warning that resulted from poor color choices in the company's spring collection, turns the spotlight on slowing growth in the athleisure category pioneered by the Canadian yogawear retailer.
A U.S. bankruptcy judge on Thursday cleared Westinghouse Electric Co, a unit of Japan's Toshiba Corp , to borrow an initial $350 million to support the company's global operations while it restructures operations.
Anthem Inc is likely to exit from a large portion of its Obamacare individual insurance markets next year, Jefferies analysts said, nearly a week after Republican leaders pulled legislation to overhaul the U.S. healthcare system.
The United States on Thursday awarded a contract to AT&T Inc to build a nationwide wireless broadband network to better equip first responders, years after a federal commission recommended setting up such a system following the 9/11 attacks.
NEW YORK Hedge fund manager David Einhorn's unusual plan to divide General Motors Co's shares into two classes poses a potential corporate governance minefield for GM board members.