Tuesday, February 28, 2017

Target sharpens aim at Amazon, Wal-Mart

Target shares suffered their worst day in almost 20 years after the discount retailer announced plans to ramp up spending to fight off competition from Amazon and Wal-Mart.

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Dow breaks 12-day win streak

Wall Street slipped Tuesday as investors awaited President Donald Trump's address to Congress.

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Snap applies lock-up to IPO shares

Snap, owner of popular messaging app Snapchat, expects investors buying up to a quarter of the shares in its $3.2 billion initial public offering this week to agree not to sell them for a year. Fred Katayama reports.

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Starbucks bets on 'roastery' for Italy debut

Starbucks is making a big bet on Italy, the home of espresso, with plans to debut in Milan late next year with a sprawling, super-premium Reserve Roastery in a turn-of-the-century post office building on Piazza Cordusio. Harvey Biggs reports

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Target cuts outlook

Target sees full-year sales dropping at existing stores. That surprised Wall Street, and shares plummeted. Fred Katayama reports.

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Samsung's Jay Y Lee faces indictment over corruption scandal

Samsung's de facto leader Jay Y Lee faces formal indictment by South Korean prosecutors after his arrest for alleged bribery charges linked to a top-level corruption scandal. Ryan Brooks reports.

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Dow notches 12th straight record close

U.S. stocks ended slightly higher on Monday and the Dow hit a record high close for a 12th straight session as President Donald Trump said he would make a "big" infrastructure statement on Tuesday. Fred Katayama reports.

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