Stocks slip...More postal woes...Unsafe toys list
NEW YORK (AP) — Energy stocks are posting losses, helping drag the broader market modestly lower and erasing the small gains the market made a day earlier. Disappointing results or outlooks from retailers and other companies also weighed on the market. Utilities and consumer goods companies were up slightly.
NEW YORK (AP) — TJX Cos., the parent company of T.J. Maxx and Marshalls, fell 5.2 percent after reporting revenue and earnings that missed analysts’ estimates. Dick’s Sporting Goods slid 4.9 percent after the retailer reported a solid quarter but also said its earnings per share could drop as much as 20 percent next year.
WASHINGTON (AP) — The beleaguered U.S. Postal Service is reporting a financial loss for the 11th straight year, citing declining mail volume and costs of its pension and health-care obligations. It is pleading for more freedom to raise stamp prices to help keep pace with consumer demand for ever-quicker package deliveries. The Postal Service says it lost $2.7 billion for the fiscal year that ended Sept. 30. That was better than a $5.6 billion loss in the prior year but mainly due to fluctuations in interest rates.
NEW YORK (AP) — Tenants of another building owned by the company of Jared Kushner’s family are filing a lawsuit over rent that they say is inflated illegally. The lawsuit in state Supreme Court in Brooklyn, filed today by six residents at 18 Sidney Place, alleges that Kushner Cos. is charging much higher free-market rent, rather than the rent-stabilized rate required by law. In August, nine residents of another Kushner building in Brooklyn filed suit. Both sets of plaintiffs are requesting class action status. Kushner is President Donald Trump’s son-in-law.
BOSTON (AP) — Fidget spinners, a Wonder Woman “battle sword” and a remote-controlled Spider-Man drone are among the toys topping a consumer safety group’s annual list of worst toys for the holiday season. World Against Toys Causing Harm, or WATCH, unveiled its top 10 list today, also naming Razor’s “Heel Wheels,” which can transform children’s shoes into roller skates, and “Slackline,” a tightrope-like device meant to be anchored between two trees.