Wal-Mart, TriQuint
Among the stock activity stories for Tuesday, Aug. 2, from AP Business News:
-- Shares of discounting giant Wal-Mart Stores Inc. dropped after a Jefferies analyst said the company's shoppers, squeezed by high prices for food and gas, are cutting spending on other items.
-- Shares of TriQuint Semiconductor Inc. regained some of the ground they lost last week following a quarterly earnings forecast that disappointed investors. An analyst said the recent sell-off now makes the shares a "Buy."
-- Shares of Chesapeake Energy Corp. rose after the company gave an upbeat view of prospects from an oil and natural gas field in Ohio.
-- Shares of online travel reservations company Orbitz Worldwide Inc. slipped even though the company had announced an agreement to continue selling American Airlines tickets into 2012.
-- Texas Roadhouse got the cold shoulder from investors after the restaurant operator's second-quarter results fell just shy of Wall Street forecasts.
A P Stores - News
By AP -- Shares of discounting giant Wal-Mart Stores Inc. dropped after a Jefferies analyst said the company's shoppers, squeezed by high prices for food and gas, are cutting spending on other items. -- Shares of TriQuint Semiconductor Inc. regained
But stores are adopting a new survival tactic by showing some personality, Tubin said. "While we cannot yet say whether the teen customer will want to go boho or preppy for back-to-school," he wrote, "the fact that the assortments are finally
NEW YORK (AP) — TOTAL REVENUE: Revenue rose 9 percent to $1.03 billion. Direct-to-consumer revenue (Coach stores and online purchases): Up 9 percent to $919 million. Indirect revenue (wholesale orders from US department stores and international
WASHINGTON (AP) — The Food and Drug Administration has warned the manufacturer of melatonin-laced brownies called "Lazy Larry" that the government considers them unsafe and could seize them from store shelves. The warning letter obtained by The
ATLANTA (AP) — Police say they believe one man is responsible for at least 20 robberies of metro Atlanta fast-food restaurants. Authorities say the crime spree began in April, and robberies have occurred at Burger King, KFC and Taco Bell stores in
Indie stores object to Jay-Z, Kanye release plans (AP) | Daily ...
NASHVILLE, Tenn. – Scores of independent record store owners are calling out Jay-Z and Kanye West over release plans for their much-anticipated “Watch the Throne” collaboration.
Owners signed a letter that calls the exclusive deals with iTunes and Best Buy “bad news” and asks two of music’s top stars to reconsider and allow more than 1,700 indie retailers equal access.
“We know that you are busy, and that you put most of your energies into creating great music, but we are writing to you in the hope that you will hear us and take the time to rectify this matter,” the letter states. “As representatives of the independent record store music community, we are asking you to allow record stores and music fans equal access to your new album.”
Exclusive deals are now common for top acts and it’s unclear why the letter’s original writers, the organizers of Record Store Day, chose this project to object. Doyle Davis, co-owner of Grimey’s New and Preloved Music in Nashville, said some of the letter’s signees will pull current and previous releases by the two artists from their shelves, though he will not go that far.
Jay-Z and West have agreed to give iTunes customers access to “Watch the Throne” on Aug. 8, four days ahead of everyone else. And Best Buy will exclusively sell a deluxe album till Aug. 23 when other retailers will have access.
Jay-Z’s spokesman had no comment and West’s did not immediately reply to an email from The Associated Press.
Record Store Day has become something of a holiday for independent retailers each April. This year, dozens of artists provided exclusive vinyl, performances and other perks.
Fans lined up, sometimes hours early and around the block, to score new music from acts like Radiohead and The White Stripes. Independent stores have suffered a marked decline over the last decade, casualties of the ascendance of box stores, digital music sales and a poor economy.
Now they say they just want a fighting chance.
“We believe this is a short-sighted strategy, and that your decisions will be doing great damage to over 1,700 independent record stores — stores that have supported you and your music for years,” the letter states.
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AP Music Editor Nekesa Mumbi Moody contributed to this report.
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Contact Chris Talbott at http://www.twitter.com/Chris_Talbott.
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