Reuters - Video

EDITION: U.S. | U.K. | IN

Top News

Stocks lose fight for five-day rally; Cisco beats

Wednesday, 12 Feb, 2014 - 02:21

Feb 12 - Summary: Wall St snaps best four-day rally in over a year as Procter & Gamble weighs; Cisco tops low expectations; Whole Foods misses and guides lower; Amazon downgraded; Home Depot to hire 80,000. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

Wall Street tried but failed at attempts to extend the strongest four-day winning streak in over a year to a fifth day. All in all, stocks were little changed with only the Nasdaq edging higher. There won't be a fight over the U.S. debt ceiling at least until 2015. The Democratic-led Senate approved raising the nation's borrowing authority with help from only a few Republicans. The Republican-led House okayed a measure the day before. Cisco highlights after-the-bell earnings. The tech bellwether posting net profits that were better than anticipated. Revenues also exceeded estimates after warning they would be down as much as 10 percent. Meanwhile, sales and profits at Whole Foods coming in below expectations. The higher-end supermarket chain is lowering the top end of its fiscal-year sales forecasts and its profit outlook based on what it is seeing in its stores. Dow component Procter and Gamble was a drag during the regular session. Analysts cut their numbers one-day after the global consumer products company lowered full-year forecasts citing exposure to emerging market currencies. Amazon.com was another weak spot despite saying it will hire 2,500 full-time workers. UBS is worried about future sales and profits, downgrading the stock to "neutral" from "buy" as a result. UBS says it partnered on a survey that shows Amazon Prime members don't like the idea of a possible hike in the annual fee, in exchange for free shipping and other perks. The service has been the source of both higher sales and higher costs for Amazon. Shares of the Internet retail giant, erasing a week's worth of gains. Home Depot has started hiring for the 80,000 positions it plans to fill for the spring season. Spring is traditional the do-it-yourself retailer's most busiest time of the year. Global smartphone shipments crossed the one billion mark for the first time last year, according to IDC. The bulk of that, of course, dominated by Android and Apple iOS phones. Windows devices saw the fastest rate of growth, while BlackBerry plummeted. The smartphone market, however, not expected to keep seeing the heady growth of recent years, the report says, though demand for cheaper models will be the main driver of that slower growth. In Europe, banking stocks led the broader market higher in Germany, France, but barely in the U.K.

Stocks lose fight for five-day rally; Cisco beats

Wednesday, 12 Feb, 2014 - 02:21

Editors' Picks »

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, 16 Jul, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, 25 Jun, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, 02 Jun, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, 27 May, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, 08 May, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, 05 May, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, 08 Apr, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, 24 Mar, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, 17 Mar, 2014 - (7:38)

Oddly Enough »

Baby gorilla finds her feet Baby gorilla finds her feet

Tue, 02 Sep, 2014 - (0:49)

Elephants 'lovin' polo tournament Elephants 'lovin' polo tournament

Thu, 28 Aug, 2014 - (1:31)

Triplet pandas celebrate a milestone Triplet pandas celebrate a milestone

Thu, 28 Aug, 2014 - (0:48)

Group shatters record for longest flower garland by a mile Group shatters record for longest flower...

Wed, 27 Aug, 2014 - (1:30)

Masked hero sweeps clean Masked hero sweeps clean

Tue, 26 Aug, 2014 - (1:10)

Right muddy mess at World Bog Snorkeling Championships Right muddy mess at World Bog Snorkeling...

Tue, 26 Aug, 2014 - (1:11)

Hello Kitty conquers space Hello Kitty conquers space

Mon, 25 Aug, 2014 - (1:11)

Japanese zoo welcomes red panda cub Japanese zoo welcomes red panda cub

Mon, 25 Aug, 2014 - (0:42)

Is it a plane? No, it's a hoverbike Is it a plane? No, it's a hoverbike

Fri, 22 Aug, 2014 - (2:40)

Fox kicks off "Simpsons" mega marathon Fox kicks off "Simpsons" mega marathon

Thu, 21 Aug, 2014 - (0:56)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)

Moving Pictures »

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, 03 Jul, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, 20 Jun, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, 06 Jun, 2014 - (1:08)