The number of employed Americans in May was more than at the peak before the Recession. The Labor Department said 217,000 jobs were added last month, boosting the number of people with jobs to over 138.4 million, more than the number of people with jobs in January 2008. The unemployment rate remained at 6.3% in May, while analysts were expecting it to increase to 6.4%.
UPS (UPS) promoted its COO David Abney to chief executive, succeeding current CEO Scott Davis. Abney began at the company as a part-time package-loader in 1974. He will assume the role of CEO on September 1. Davis who is also the compay's chairman, will remain in that role. Shares of UPS closed ????.
Hertz (HTZ) closed down 9.05% after the company said in regulatory filings that it will have to correct results for the last three years because of an error found in 2011 results. The company said it will restate results for 2011 and may have to restate results for 2012 and 2013. Hertz had planned to release quarterly results Monday, but will now delay it until it finishes the review. The rental car company said its earnings results will be lower than expected because of the accounting review.
Diamond Foods (DMND) closed down 10.74% after reporting an earnings miss of $0.06. Revenue was up, but that also missed analysts’ expectations. Whole Foods (WFM) closed up 2.12% after unconfirmed rumors that Publix Super Markets is interested in buying the high-end super market chain.