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Target settles class-action lawsuit

The markets extended its gains during the midday with the Dow leaping 194 points to 24,458. Nasdaq gained 25 points to 7068.


Target has agreed to settle a class-action lawsuit by paying $3.74 million and changing its hiring practices. Plaintiffs alleged that the retailer discriminated against black and Hispanic job applicants by using criminal background checks to filter applicants. Job seekers were disqualified due to racial and ethnic disparities in the criminal justice system.


AMC Theatres won a cinema operating license to jointly open movie theaters in Saudi Arabia with the entertainment subsidiary of Saudi Arabia's Public Investment Fund. Up to 40 theaters will open in 15 cities over the next five years with the first scheduled to open on April 18 in Riyadh's King Abdullah Financial District. The kingdom had banned movie theaters 35 years ago.


Frontier Airlines will add four new cities to its network of routes beginning this summer. The low cost carrier will provide service to and from Portland, Maine and Syracuse, New York for the very first time and will be returning to Harrisburg, Pennsylvania and Spokane, Washington. Additionally, three new routes will be added to Raleigh/Durham.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 gained 12 points to 2,657. Bitcoin tumbled $110 to $6,709.


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