Initial jobless benefits fell more than expected last week. The Labor Department said claims fell 6,000 to a seasonally adjusted 312,000. Economists were expecting 313,000 claims last week. The four-week average, considered to be a better indicator of the labor market, fell 3,750 to 311,750 last week, just above a seven-year low.
BlackBerry (BBRY) was up in pre-market trading after the company reported a smaller-than-expected loss of $0.11. Analysts were expecting a loss of $0.26. Revenue fell 69%, but beat estimates by $3 million. Yesterday, the company announced a deal with Amazon (AMZN) in which BlackBerry will have access to Amazon's app store. Access to the store will begin in the fall with the new version of the BlackBerry 10 operation system.
Dov Charney, the founder, chairman and CEO of American Apparel (APP) was ousted by the company's board yesterday due to an "ongoing investigation into alleged misconduct." There have been several sexual harassment lawsuits against the company alleging sexual misconduct by Charney, who denied those allegations. American Apparel has had other problems as well. In 2009, hundreds of employees were found to be undocumented and were laid off. Meanwhile, as of yesterday's close, shares of the company were down more than 81% in the last 5 years.
There is an app called Yo. And it just does one thing: Send a message to the recipient that says "Yo." That's it. The app has raised $1 million in funding. The founder - who built the app in 8 hours - is now working on it full-time. What do you think about this app? Do you think the Yo app is worth a million dollars? Vote in our poll, or leave a comment below or on Twitter.