The top U.S. appliance seller Sears Holdings Corp. SHLD said Thursday that its fiscal first-quarter profit fell 38% after it increased discounts to promote appliances at its domestic chain, while demand for its tools and home electronics declined. Sears Holding Corp. (SHLD) reported a net income of $16 million for the quarter ended May 1, as against $26 million in the comparative period a year ago.
Sears Holdings Corp. (SHLD) has decisively breached its support line of 200 day MA of $90.12 in the early afternoon trading, as the stock reels under pressure around $89.60. The head and shoulders pattern on the chart is pointing towards an even lower support in Sears Holdings Corp. (SHLD).
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in