Market Overview

Retailers, Wireless Telecom Among Weekly Newsmakers

(via COMTEX News Network)--

July 9, 2011 (FinancialWire) -- Limited Brands (NYSE: LTD), Costco (NASDAQ: COST), Target (NYSE: TGT), Verizon (NYSE: VZ) and Sprint Nextel (NYSE: S) were among the major U.S. equities emerging on Friday's trading radar.

Retail sales reported for June were relatively strong. Powered by a noteworthy contribution from Victoria's Secret, Limited Brands was the biggest winner Friday, after reporting a 12% rise in June sales. Also for June, Costco reported an 8% increase, while Target posted a 4.5% sales increase for stores open more than one year.

As a group, the wholesale food sector has been posting the Market's best gains recently, and the group finished at the top of Friday's session, led by Coffee Holding (NASDAQ: JVA).

Following last year's similar move by AT&T (NYSE: T), wireless communications company Verizon announced that it plans to stop offering unlimited data services to its customers. The minimum plan to now be offered by Verizon will cost $5 more per month than AT&T. Also, Verizon users will be charged $30 for up to 2 gigabytes of data transfer per month, with overages billed at the same $10 per additional gigabyte as AT&T. Competitor Sprint Nextel, however, said it will continue offering unlimited data services, for the foreseeable future.

Other corporate news this week included blood testing equipment maker Immucor (NASDAQ: BLUD) agreeing to be acquired by TPG Capital, and increasing enrollments for online educator Apollo Group (NASDAQ: APOL) spurred Goldman Sachs (NYSE: GS) to raised the company's stock price target to $64.


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