Syrians flee camps and return to destroyed homes in Idlib

Stock Alert: Citi Trends Higher

Shares of Citi Trends, Inc. (CTRN) are spiking more than 7% on Thursday morning at $17.28. It has traded in the range of $6.70- $24.78 in the last 52-weeks.

The apparel retailer, while reporting first-quarter results today, said that after reopening most of its stores, it is seeing comparable-store sales substantially above expectations at about four weeks into the second quarter. Citi Trends expects comparable-store sales to increase in mid to high single digits in the quarter.

On an adjusted basis, first-quarter loss was $1.94 per share compared with earnings of $0.72 per share in the same quarter a year ago.

Net sales decreased 43.4% to $116.12 million from $205.03 million last year as the chain stores were closed from mid-March to April end.

“The health of our balance sheet pre-COVID-19 helped us to manage through this uncertain period, and along with the prudent actions we have taken, we believe we are in a strong financial position to weather the current environment,” David Makuen, Chief Executive Officer, said.

Stock Alert: Citi Trends Higher

Shares of Citi Trends, Inc. (CTRN) are spiking more than 7% on Thursday morning at $17.28. It has traded in the range of $6.70- $24.78 in the last 52-weeks.

The apparel retailer, while reporting first-quarter results today, said that after reopening most of its stores, it is seeing comparable-store sales substantially above expectations at about four weeks into the second quarter. Citi Trends expects comparable-store sales to increase in mid to high single digits in the quarter.

On an adjusted basis, first-quarter loss was $1.94 per share compared with earnings of $0.72 per share in the same quarter a year ago.

Net sales decreased 43.4% to $116.12 million from $205.03 million last year as the chain stores were closed from mid-March to April end.

“The health of our balance sheet pre-COVID-19 helped us to manage through this uncertain period, and along with the prudent actions we have taken, we believe we are in a strong financial position to weather the current environment,” David Makuen, Chief Executive Officer, said.

Stock Alert: Triumph Jumps 36%

Shares of Triumph Group, Inc. (TGI) are climbing more than 36% Thursday after the aerospace manufacturer announced better-than-expected fourth-quarter results today.

Adjusted earnings for the fourth quarter of $0.69 per share beat the average estimate of analysts polled by Thomson Reuters at $0.64.

Sales for the quarter decreased to $693.11 million from $869.03 million last year, beating the consensus estimate at $660.1 million.

Wednesday, the stock gained more than 18% after the company reached a deal to sell its G650/G700 wing business to its customer Gulfstream, a unit of General Dynamics (GD). The company also said it secured purchase orders from Boeing to maintain economical production levels and provide support to its lower-tier supply chain. Triumph and Boeing also resolved open claims and deferred a majority of its advance repayments out of fiscal year 2021.

TGI is currently trading at $11.15 and has traded in the range of $3.02- $29.38 in the last one year.

Venezuela's Maduro considers charging citizens more for petrol

Venezuela’s president hints that he could start charging for petrol, which is usually practically free for citizens.

Venezuela’s President Nicolas Maduro said on Wednesday his government must begin charging more for petrol and said he had directed a team of specialists to determine what the price should be.

The announcement follows the arrival of several tankers from Iran carrying much-needed fuel.

Al Jazeera’s Alexi O’Brien reports.

European Economics Preview: Eurozone Economic Confidence Data Due

Economic sentiment from euro area and preliminary inflation from Germany are due on Thursday, headlining a busy day for the European economic news.

At 3.00 am ET, the Swedish National Institute of Economic Research is set to publish economic tendency survey results.

In the meantime, flash consumer prices and retail sales from Spain and gross wages from Hungary are due.

At 3.30 am ET, Statistics Sweden releases retail sales data for April. Sales are forecast to fall 2.1 percent on month, faster than the 1.7 percent decrease seen in March.

At 4.00 am ET, business and consumer confidence survey data is due from Italy. The business confidence index is seen falling to 79.0 in April from 89.5 in March. The consumer sentiment index is forecast to drop to 88.5 from 101.0 in the previous month.

At 5.00 am ET, EU releases euro area economic sentiment survey results. The economic confidence index is forecast to rise to 70.3 in May from 67.0 in April.

At 8.00 am ET, Destatis is scheduled to issue Germany’s preliminary inflation data for May. Economists forecast inflation to slow to 0.6 percent from 0.9 percent in April.

U.S. House approves bill lengthening coronavirus small-business loan terms

WASHINGTON, May 28 (Reuters) – The U.S. House of Representatives on Thursday overwhelmingly approved legislation increasing the amount of time, to 24 weeks from the current eight-week deadline, for small businesses to use Paycheck Protection Program loans.

The legislation, passed by a vote of 417-1, now goes to the Senate for consideration. The program was created in March to help support small businesses during the coronavirus pandemic and encourage them to retain their employees. (Reporting by Richard Cowan; editing by Jonathan Oatis)

Syrians flee camps and return to destroyed homes in Idlib

UN report says in 2019 alone, almost 1.9 million people were displaced in Syria.

A new United Nations report says Syria had the largest number of people displaced because of conflict last year.

Almost a million people fled a government offensive in Idlib in December alone.

Since a ceasefire in March, tens of thousands of people have returned to find their homes have been destroyed.

Al Jazeera’s Laura Burdon-Manley reports.