Target is to spend $20million on private bathrooms as the company faces complaints, as well as praise, for their transgender policies. The stock was down 6% yesterday, not because of the above issue, but because of a big drop in sales of about 15% since a high in April.
Cisco Systems’ stock dropped slightly on the news that it is cutting 5,500 jobs globally which is 7% of their global workforce. The stock has gone from $23 in April up to $31 in August, dropping only to $30 today. The layoffs are considered good for the stock price as this will allow for other projects such as the development of the Cisco Cloud storage for big data.
On the Commodity Market, oil is back above $47 a barrel which is good for the US drilling, refineries and exports.