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First American Corporation (The) stock price
First American Corporation (The) latest news:
Dow closes near four-week low as crude remains under pressure
U.S. stocks closed lower for a second session Wednesday with the Dow finishing at a near one month low as crude oil prices extended losses on the heels of data that showed an unexpected rise in U.S. inventories. Worries over the progress of the tax reform bill also dragged on the market. The S&P 500 shed 14 points, or 0.6%, to close at 2,564, the first time in 50 trading days that the large cap index fell more than 0.5%. The Dow Jones Industrial Average fell 135 points, or 0.6%, to end at 23,273, while the Nasdaq Composite Index slid 31 points, or 0.5%, to close at 6,706. West Texas Intermediate crude , the North American benchmark, declined 0.8% to $55.26 a barrel.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Oil prices mark first decline in four sessions
Oil prices inched lower Tuesday to mark their first session decline since the first day of the month. Prices pulled back after logging three-consecutive settlements at levels not seen since July 2015. Traders await weekly data on U.S. petroleum supplies from the American Petroleum Institute later Tuesday and early Wednesday from Energy Information Administration. Analysts polled by S&P Global Platts forecast a fall of 2.7 million barrels in crude stockpiles. December West Texas Intermediate crude , the U.S. benchmark, lost 15 cents, or 0.3%, to settle at $57.20 a barrel on the New York Mercantile Exchange. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Shares of Jack Daniel's parent Brown-Forman rise premarket after company's better-than-expected Q1 earnings report
Shares of alcohol company Brown-Forman Corp. were up 1.6% in premarket trade on Wednesday after the company reported fiscal 2018 first-quarter earnings that were above Wall Street's expectations. The company said net income of $178 million, or 46 cents earnings per share, compared with $144 million, or 36 cents per share during the same period a year ago. FactSet's consensus for per-share earnings was 39 cents. Brown-Forman revenue was $723 million, compared with $661 million a year ago, and above FactSet's $687 million revenue consensus. "We continue to foresee growth potential for our brands, most notably in American whiskey," said Brown-Forman Chief Executive Paul Varga in a statement. Brown-Forman said it expects underlying net sales to grow in the range of 4% to 5% for the full year, thanks to new Jack Daniel's whiskies. The company also forecasts per-share earnings to be in the range of $1.85 to $1.95, which puts FactSet's $1.85 consensus at the lower end. Shares of Brown-Forman have gained 14% in the year to date, while the S&P 500 index is up more than 9% in the year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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