Bull week
Stocks advanced yesterday as the Standard & Poor’s 500 index rallied for a third straight week on optimism that the U.S. economy is improving amid central-bank monetary stimulus.
Hardware up
Restoration Hardware revised its guidance for the first quarter and now expects net revenues of $295 million to $300 million, a 35 percent to 38 percent increase from the prior year.
Vintage suit
Citigroup was sued by William Salomon, the 99-year-old former Wall Street banker and son of the Salomon Bros. founder, for supplying him with a personal secretary who was later convicted of stealing from him.
US surplus
The US posted its widest budget surplus in five years in April, the biggest since April 2008, swelled by stronger income-tax receipts.
Alibaba exit
Alibaba founder Jack Ma is stepping down as CEO of China’s largest e-commerce company before its IPO, and plans to focus on environmental protection and education.