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Vera Bradley, Inc. stock price
Vera Bradley, Inc. latest news:
What Happened in the Stock Market Today
On a positive day for the overall market, Vera Bradley and Bob Evans Farms shares went in drastically different directions.
Vera Bradley stock reverses gains to fall 9% as company unveils management changes
Vera Bradley Inc. shares reversed early gains Wednesday to trade sharply lower, after the company announced some executive changes on its earnings call. The company said Beatrice Mac Cabe has been named its chief creative officer, while founder Barbara Bradley Baekgaard will take a smaller role to give her time to pursue other projects outside the company. Theresa Palermo, executive vice president for marketing, is leaving and will be replaced by Stephanie Scheele as interim chief marketing officer. Shares fell about 9%, after earlier gaining about 8% premarket when the company posted better-than-expected earnings. On the call, executives gave further detail on its Vision 2020 plan, which will move it to a less clearance driven business model and cut sales and marketing costs. Shares have fallen 22% in 2017, while the S&P 500 has gained 10%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
U.S. stock market opens little changed after upbeat GDP, jobs data
U.S. stock-index benchmarks kicked off trade near break levels on Wednesday after a pair of upbeat economic reports, with a key employment report due Friday and the Labor Day holiday set to begin. The Dow Jones Industrial Average opened up 9 points, or less than 0.1%, at 21,870, the S&P 500 index traded flat at 2,446, and the Nasdaq Composite Index added 0.1% at 6,309. On the data front, the U.S. economy expanded at a 3% pace in the second quarter, a faster pace than had originally been reported, and the fastest rate in more than two years. Separately, ADP said private-sector employers added 237,000 jobs in August, well above the 185,000 that had been expected. In corporate news, Vera Bradley Inc. surged after it reported a first-quarter loss that was wider than expected. Sales also came in below forecasts, while shares of H&R Block Inc. look set for a down day after falling late Tuesday as the tax preparer posted. Overall trading was slightly more subdued as geopolitical tensions around North Korea's launch of a ballistic missile eased and investors watched Hurricane Harvey, now a tropical storm, continue to wreak havoc in Texas and Louisiana. Looking ahead, the market awaits a speech from President Donald Trump on tax reform at 2:30 p.m. Eastern. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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