Jobs Data Pressures Stocks
Stocks appeared headed lower Friday
while bond futures rallied after the government reported a sharp increase in
joblessness.
RadioShack
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PowerRating) Friday reported
sales at its stores open at least a year fell 2% in April from from a year-ago.
The company cited a slowdown in the U.S. economy.
Total sales, including stores opened
during the last year, in the month ended April 30, 2001 fell 4 percent to $313.4
million from $327.5 million a year ago.
After Thursday’s close, Internet
consulting firm Sapient
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PowerRating) warned of wider-than-expected losses in the
current second quarter and said revenue fell at an ”alarming” rate from
January to March. CFO Edward Goldfinger said he expected the firm to lose
between 4 cents and 6 cents a share on a pro-forma basis. That compares to First
Call’s consensus estimate of two cents.
Razorfish
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PowerRating) posted a pro
forma net loss of 7 cents a share in Q1 vs.. net income of 7 cents a share a
year ago and estimates of a loss of 8 cents. The Internet consultant also
announced that chief executive and founder, Jeff Dachis, was stepping down.
Life insurer John Hancock Financial
Services
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PowerRating) overnight said perating income came in at 61 cents a share in
the first quarter vs. 65 cents a year ago and a penny above estimates.
 
Wind River Systems
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PowerRating) warned
of a profit shortfall after sales fell below forecasts. The software and service
provider said it will record restructuring charges as it cuts staff and
executive pay to pare costs.
