World Wrestling Entertainment Inc. will cut 7 percent of its workforce as part of a push to increase profitability, the company announced Thursday, the same day investors cheered quarterly results that exceeded expectations.
Financial markets went into a tailspin Thursday after Argentina defaulted on its debt, raising fears among skittish investors already fretting over weak corporate earnings growth, rising interest rates and an aging bull market.
Newly appointed Target CEO Brian Cornell has a strong reputation and proven track record of success. He comes to the troubled retailer with experience in both retail and consumer products, most recently serving as CEO of PepsiCo Americas Foods.
All the major indexes fell in early trading Thursday and gave back almost all the gains they made in July. The Dow, S&P 500 and Nasdaq are all down almost 1%, with the Dow dropping 130 points.
FILE - This April 22, 2014, file photo shows an employment application form on a table during a job fair at Columbia-Greene Community College in Hudson, N.Y.