The markets continued to rally on Wall Street, despite a dismal jobs report out this morning.
The Labor Department reporting first time filings for unemployment benefits fell to 428,000, for the week ending June 25th. Economists had expected the measure to fall by several thousand more.
In a filing with the New York Department of Labor, Goldman Sachs (NYSE:GS) indicated it plans to cut 230 jobs in New York City. Goldman cited economic reasons for the cuts, which will take place between September 2011 and March 2012.
Rite Aid (NYSE:RAD) shares are trading up over 3.5% today, after the company reported same store sales rose 1.8% for the 4 weeks ending June 25th, compared to the same period last year.
Constellation Brands (NYSE:STZ) reported first quarter profits that jumped more than 50%, due to continued cost cutting efforts.
Shares of Callaway Golf (NYSE:ELY) are trading down today, after news that their CEO George Fellows is stepping down due to personal reasons. The company also announced job cuts and said it will provide more details in it's earnings conference call in late July.
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