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 16, 2018 12:41 AM

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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Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 152396

Reported Deaths: 4023
CountyConfirmedDeaths
Marion24905785
Lake13380352
St. Joseph8985161
Elkhart8530132
Allen7978222
Hamilton6000113
Vanderburgh567560
Tippecanoe358714
Monroe322238
Hendricks3221130
Johnson3051128
Porter303648
Clark289161
Delaware284574
Vigo256038
Madison232493
Cass222822
LaPorte220958
Warrick190065
Kosciusko179224
Floyd177367
Howard160066
Bartholomew139758
Dubois136726
Marshall134226
Henry123429
Grant122639
Wayne122127
Boone119548
Hancock115645
Noble114633
Jackson109413
Morgan93040
Dearborn92828
Daviess85333
Gibson84911
Clinton82916
Lawrence82634
Shelby80330
LaGrange77715
Harrison74824
Knox72110
Putnam71616
DeKalb69911
Posey6896
Fayette61417
Steuben6118
Miami5875
Montgomery57822
Jasper5744
White57215
Greene52137
Scott51013
Decatur49939
Adams4815
Whitley4426
Clay4396
Sullivan42913
Ripley4278
Wells4205
Wabash4029
Starke3977
Orange38825
Huntington3805
Spencer3746
Franklin36625
Washington3632
Jennings36013
Fulton3472
Randolph3439
Jefferson3305
Pike32915
Carroll31713
Perry29714
Jay2946
Fountain2883
Tipton27023
Vermillion2251
Newton22211
Parke2223
Rush2084
Owen2031
Blackford1983
Martin1960
Crawford1531
Pulaski1481
Brown1303
Ohio1247
Benton1080
Union1060
Switzerland900
Warren761
Unassigned0233

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