After falling 27 percent yesterday, Sears Holdings Corp. (NASDAQ:SHLD) continues to fall more than 3 percent early Wednesday after news of Kmart store closings. Goldman Sachs (NYSE:GS) remains bearish on shares, and also cut their price target from $43 to $30. The bank said, “The weaker fundamentals reaffirmed our view that SHLD’s weak positioning will only be exacerbated in an uncertain environment.”
Investing Insights: Will Sears Store Closings Affect Chico FAS Shareholders?
Shares of Overstock.com (NASDAQ:OSTK) are attracting attention Wednesday morning. The company finished dead last in a survey by ForSee measuring customer satisfaction with online shoppers this holiday season. Gap Inc. (NYSE:GPS) finished second to last, and Netflix (NASDAQ:NFLX) posted the largest year-over-year decline. Amazon (NASDAQ:AMZN) was the big winner again, as its score improved from 86/100 last year to 88/100 this year.
Don’t Miss: Netflix, Gap Rank Low in Customer Satisfaction.
Shares of The New York Times Co. (NYSE:NYT) are receiving a boost this morning after a late Tuesday announcement. The media company announced it reached an agreement to sell its Regional Media Group to Halifax media Holdings for $143 million in cash.
Apple Inc. (NASDAQ:AAPL) shares are climbing more than .40 percent higher this morning. After reporting that Apple will release a TV set in Q2 or Q3, Digitimes reports that Apple will finalize hardware standards for its sets by the end of Q2. Apple may also turn to Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) for assistance.
Wendy’s Company (NYSE:WEN) is falling 1.3 percent early Wednesday. The company expects to open about 100 or more stores over the next 5 years in Japan. Other fast-food restaurants such as McDonald’s (NYSE:MCD) and Yum! Brands, Inc. (NYSE:YUM) are also trading lower.
Google Inc. (NASDAQ:GOOG) is climbing .50 percent after Goldman Sachs raises estimates and its price target to $685 from $660. Goldman expects Google’s core search business has the potential to post better-than-expected fourth quarter results.
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