Two pieces of U.S. economic data were released this morning. Weekly jobless claims fell 9,000 last week to 315,000. Economists expected to see an uptick claims to 330,000. February retail sales were also released. They were up 0.3% versus estimates of a rise of 0.2%.
Also this morning, Amazon (AMZN) announced that it raise the price of its Prime membership service from $79 a year to $99. It’s the first time Amazon will have raised the price for the service that offers free two-day shipping.
One of the stocks we’re watching today is Krispy Kreme (KKD) after the company yesterday raised its outlook for the full year and boosted its stock buyback by $30 million. The doughnut-maker reported third quarter results slightly below estimates. Earnings missed by a penny and revenue increased more than 3%, but just missed estimates. Same store sales grew 6% in the U.S., but international sales declined 3%. Krispy Kreme said it expects its worldwide store count to increase 10% this year. They currently have more than 800 locations around the world.
The first-ever marijuana job fair will be held in Denver today. The fair is called "CannaSearch" and organizers are expecting about 1,000 people to meet with 15 different marijuana-related companies. This is the latest step in Colorado's legal-marijuana boom. This week, the state reported more than $14 million in recreational marijuana sales in January from 59 different businesses. The five-year national market could grow to $10.2 billion amid rising demand and potentially new state markets, according to investor network ArcView's forecasts. Twenty states and Washington, D.C. allow medical marijuana. Our poll today asks: Would you want recreational marijuana use legalized in your state? Cast your vote and post your comments below as well.
- Professional Services
- Krispy Kreme
- jobless claims