Consumers scaled back spending last month. The Commerce Department reported that April retail sales rose just 0.1%. Economists had expected sales to rise 0.4%. The slight increase comes after March sales rose 1.5%, the largest increase in more than four years.
Meanwhile, Obamacare is good for the economy, according to a report from Goldman Sachs (GS). Economic researcher Alec Phillips wrote in a note last week that subsidies from the Affordable Care Act boosted first-quarter GDP and will likely to do the same during the second quarter.
One of the stocks the Yahoo Finance team will be watching today Elizabeth Arden (RDEN). Shares of the cosmetics company fell in early trading after the company reported a wider-than expected loss of $0.84 a share, analysts were expecting it to break even. Weak store traffic, store closings and the harsh winter drove sales down 20% in the first three months year. The maker of Elizabeth Taylor and Britney Spears perfume lines said it hired Goldman Sachs to help it explore strategic alternatives.
Shares of Keurig Green Mountain (GMCR) rose in early trading on news that Coca-Cola (KO) is increasing its stake in the K-cup coffee pod maker from 10% to 16%. This comes three months after Coke first acquired a piece of the company.
Google (GOOGL) suffered a setback after Europe's top court told the company people have the "right to be forgotten." The Court of Justice of the European Union ruled that Google will have to remove links to "irrelevant" and outdated data upon request by individuals.
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- Investment & Company Information