Costco Wholesale posted a 5% rise in same-store sales when a 3.6% gain was expected. The warehouse club did even better when factoring in higher prices at its gas pumps and gains from stronger foreign currencies. On that basis, same-store sales rose 7%, when analysts were looking for 4.2%. The retailer's international operations were up 11%, compared with a 6% rise in the U.S.

Limited Brands, which owned Victoria's Secret and Bath & Body Works, posted a 10% rise in same-store sales when a 7.3% gain was projected.

In a rare bright spot for the labor market, new weekly jobless claims fell more than expected. Initial unemployment claims declined 31,000 to 473,000 in the week ended Saturday, the Labor Department said Thursday.

Claims are well below their high of 651,000 in March 2009 but remain elevated-indicating a weak job market but no longer signaling a worsening in labor demand.

Claims appeared to be on a steady decline earlier in the year but began creeping upward again. For the week ended Aug. 14, claims stood at 504,000, their highest level in nine months.

August 12, 2010 - GM Finishes IPO Paperwork...Looks to Raise $15-20 Billion ...from the Reuters

General Motors Co. completed the paperwork for an initial public offering and timing of its filing with the U.S. securities regulators now rests with the board of directors of the top U.S. automaker, a source familiar with the situation said on Monday.

That filing is likely to be completed with the U. S. Securities and Exhange Commission on Tuesday (8/17), the person said, asking not to be named because the preparations for the IPO are private.

GM's IPO is expected to raise between $15 billion and $20 billion in one of the larges IPOs ever, the source said.

A group of ten banks that committed to be the major group of creditors in GM's $5 billion credit line will also serve as underwriters for the stock offering, the person said.

August 12, 2010 - GM Delivers...IPO Friday? ...from the WSJ

General Motors Co. reported Thursday a $1.3 billion second-quarter profit, a stark contrast to a year ago when the auto maker lost nearly $13 billion as it slid into bankruptcy.

The results will play a central role in bolstering GM's case that the auto maker is a good bet for Wall Street as it prepares to start selling its stock to the public. GM is close to registering for an initial public offering, possibly on Friday.

August 11, 2010 - GM: Best Profit in Six Years? from the WSJ

General Motors Co. is expected to post its largest profit in six years on Thursday, buoyed by stronger sales around the globe and higher prices on cars and trucks sold in the U.S.

People familiar with the matter said the company could earn in excess of $1 billion. GM Chief Executive Edward E. Whitacre, Jr. gave an early indication last week that the automaker would report "impressive" results for the second three months of 2010 that will surpass the auto maker's $865 million profit it recorded the first quarter this year.

For GM, a second consecutive quarterly profit by would mark a turning point for GM, which essentially stopped making money from 2005 through 2009 and has been living off a $50 billion U.S. government bailout since last year.

The results are driven by improving sales in every region except Europe and sharply lower expenses as a result of last year's bankruptcy.

Meantime, sales in GM's U.S. market are becoming more valuable on a per vehicle bases. Consumers paid $32,584 on average for a GM car or truck in the second quarter, up 5% from a year ago and a 1.4% increase from the first quarter, according to car shopping site Edmunds.com.

July 29, 2010 - Jobless Claims Lower...From the MarketWatch 

The number of people applying for initial state unemployment insurance benefits fell 11,000 to 457,000 in the week ended July 24, the Labor Department reported Thursday.

Economists surveyed by MarketWatch had expected an initial claims level of 460,000. The four-week average of initial claims -- a better gauge of employment trends than the volatile weekly number -- fell 4,500 to 452,500, reaching the lowest level since May.

Continuing claims in the week ended July 17 rose 81,000 to 4.57 million. The four-week average of these continuing claims fell 18,000 to 4.55 million, hitting the lowest level since late December 2008.

Initial state claims are about 21% below the prior's year level. The level of continuing claims is about 26% less than in the prior year.

FedEx Corp. (FDX) on Monday gave another signal that the domestic and global economies are continuing their modest export-led recoveries.

The U.S. package shipper raised its fiscal first-quarter guidance by 21% and reinstated pension contributions cut when the transport sector suffered a precipitous decline in business at the end of 2008 as companies froze orders and ran down inventory and consumers cut spending.

The company's upbeat announcements helped shares close up 5.6% at $83.39.

Rival United Parcel Service Inc. (UPS) last week lifted its own profit guidance, and alongside other U.S. rail and truck shippers that have beaten market expectations, it suggested that the peak fall shipping season was set to return for the first time in three years, buoyed by industrial orders and online retail business.

FedEx singled out a better-than-expected performance by its time-sensitive international delivery service, which like UPS has been driven by rising exports of electronic goods and components and textiles from Asia to North America and Europe.

The company said volume in its International Priority segment was expected to grow by more than 20% in the three months to Aug. 31 after a 23% rise in its fiscal fourth quarter.

The International Air Transport Association, the trade body for the global airline industry, said last week that while the air cargo market had rebounded strongly, the pace of growth was starting to slow.

FedEx also cited better results from its domestic-focused ground business, which reflects a relatively upbeat view of U.S. consumer spending and industrial production.

The company said its new guidance reflects expectations for "a continued moderate recovery" in the global economy.