Markets slip on disappointing earnings and Bank of America suit
U.S. stocks fell for a third straight session as earnings warnings weighed on sentiment and Bank of America faced lawsuits alleging it misled investors in a 2008 mortgage bonds sale. The S&P 500 dropped 0.4 percent to 1690.91, the Dow shed 0.3 percent to 15470.67, and the Nasdaq fell 0.3 percent to 3654.01 amid thin trading and tepid results. BofA slid to 14.53, down 1 percent.
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Drugstores Expand Services Amid Health Care Shift
Drugstore chains including Walgreen and CVS Caremark are adding in store clinics, barista cafes, Eyebrow Bars and health care products to meet aging demand and serve millions newly insured by the health care overhaul. Executives say time pressed customers want more than prescriptions as competition from Safeway and Wal Mart grows.
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The Limited names Diane Ellis as new CEO
Columbus based retailer The Limited announced Diane Ellis former Brooks Brothers president and COO will become chief executive officer effective August 26. Ellis brings retail leadership from Lighthouse Retail Group PricewaterhouseCoopers and Filene's and replaces Linda Heasley who joined Lane Bryant in February. Sun Capital Partners owns The Limited with 259 U.S. stores.
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