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Wal-Mart planning to test Tesla's truck: report
Wal-Mart Stores Inc. is planning to test Tesla Inc. heavy-duty truck, according to a report Friday on CNBC quoting a statement obtained from the retailer. The pilot program is planned for the U.S. and Canada, the report said. Tesla late Thursday unveiled the all-electric semi truck, promising a range of 500 miles between charges and some autonomous capabilities. Tesla stock gained on the news, which also included unveiling a new Tesla Roadster, a reboot of the company's first luxury sports car. 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.
Stitch Fix's stock rallies above IPO price, which was well below expectations
Shares of Stitch Fix Inc. rallied in their debut, a pleasant surprise after the online clothing service's initial public offering priced well below the expected range. The online clothing service's stock opened at $16.90 at 10:26 a.m. ET, or 12.7% above the $15 IPO price, and was recently trading up 15.0%. The IPO priced late Thursday below the expected range of $18 to $20. Stitch Fix sold 8 million shares in the IPO to raise $120 million before options granted to underwriters. Stitch Fix went public at a time when the Renaissance IPO ETF has gained 9.3% over the past three months and the S&P 500 has tacked on 6.2%.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.
SailPoint Technologies shares surge 20% in trading debut
SailPoint Technologies Holdings Inc. shares rallied in their first day of trading Friday after the enterprise identity-management company priced its initial public offering late Thursday. SailPoint shares surged 21% to $14.46 in early trading. Late Thursday, the Austin, Texas-based company priced its IPO at $12, above the expected range of $9 to $11 a share. The company offered 14.3 million shares with private-equity firm Thoma Bravo and insiders offering another 5.7 million shares.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.
GE stock gains; CEO Flannery bought over $1 million worth of stock this week
General Electric Co.'s stock gained 0.4% in morning trade Friday, as the industrial conglomerate gave investors some good news to end a bad week. GE disclosed Friday that Chief Executive John Flannery bought 60,000 GE shares on Nov. 15 at a price of $18.27, implying a cost of $1,096,200. That was the day after the stock had plunged 12.6% in two sessions in reaction to Flannery's long-awaited, but disappointing, turnaround plan unveiled on Monday. On Nov. 15, the stock traded in a range of $17.50 to $18.38. Flannery's purchase lifted his stake to 683,026 shares, including what is in his 401K account, which is about 0.01% of the shares outstanding. GE's stock has dropped 10.5% this week, just the second weekly double-digit-percentage decline in the past 7 1/2 years. The other was the 12.8% tumble the week ending Oct. 27, following third-quarter results. GE shares have shed 26% over the past three months, while the Dow Jones Industrial Average has rallied 7.5%.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.
Sailpoint Technologies prices IPO at $12
SailPoint Technologies Holdings, Inc. priced its initial public offering at $12 Thursday night, setting the company up to begin trading Friday morning. The price for 20 million shares was higher than the expected range of $9 to $11 a share, and means the IPO will bring in at least $240 million. Sailpoint sells enterprise identity-management tools, which helps businesses securely manage employees' use of multiple apps on their systems. The company has been owned by private-equity firm Thoma Bravo, which will maintain a majority stake in Sailpoint after the IPO. Thoma Bravo offered 5 million shares in the IPO, while Chief Executive Mark McClain and President Kevin Cunningham sold 700,000 shares combined. The other 14.3 million shares were sold by Sailpoint, which will collect at least $171.6 million before fees that it intends to use for general corporate purposes, including "expanding our global presence," according to a filing with the Securities and Exchange Commission. Sailpoint revenue increased to $132.4 million in 2016 from $95.4 million in 2015, while net losses were reduced to $3.2 million from $10.8 million in that time. Underwriters have access to 1.5 million more shares, which are expected to list Friday morning on the New York Stock Exchange under the ticker symbol SAIL.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.
Stitch Fix prices IPO at $15, below expectations
Stitch Fix Inc. priced its initial public offering at $15 a share Thursday evening to pull in at least $120 million ahead of the online clothing seller's market debut Friday. The price was lower than the $18 to $20 range that the company originally expected, as The Wall Street Journal reported was likely earlier Thursday. At $15 a share, the company has a valuation of about $1.4 billion. Stitch Fix is selling 8 million shares in the offering, lower than the initial estimate of 10 million shares, while founder and Chief Executive Katrina Lake is selling 1 million shares; underwriters, led by Goldman Sachs and JP Morgan, have access to an additional 1.2 million shares. Financial information shared in the filing show very strong revenue gains, from net revenue of $73.2 million in its 2014 fiscal year to $342.8 million in 2015, $730.3 million in 2016 and $977.1 million in the 2017 fiscal year, which ended July 31. Stitch Fix turned a profit in its 2015 and 2016 fiscal years, $20.9 million and $33.2 million in net income respectively, but slipped back to a loss of less than $600,000 last year. The company's stock is expected to begin trading Friday on the Nasdaq exchange under the ticker symbol SFIX.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.
Ross Store shares up 7% on earnings beat, higher sales guidance
Shares of Ross Stores Inc. rose more than 7% late Thursday after the retailer reported third-quarter earnings and sales above Wall Street expectations and increased its fourth-quarter sales guidance. Ross said it earned $274.4 million, or 72 cents a share, in the quarter, compared with $244.5 million, or 62 cents a share, in the year-ago period. Sales rose to $3.33 billion, from $3.10 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 67 cents a share on sales of $3.26 billion. "Given our better-than-expected trends in the third quarter, we are raising our sales expectations for the fourth quarter," Ross said in a statement. It forecast comparable-store sales to increase 2% to 3%, compared with a 4% gain last year. Earnings per share are projected to be between 88 cents and 92 cents in the fourth quarter, compared with 77 cents in the fourth quarter of 2016. The company also called for per-share earnings in the range of $3.24 to $3.28 a share for full year 2017. The analysts surveyed by FactSet expect fourth-quarter earnings of 92 cents a share and full year 2018 earnings of $3.23 a share. 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.
Chinese fintech Jianpu rises in U.S. debut
Shares of Jianpu Technology Inc (JT) rose as much as 3.8 percent in their U.S. market debut on Thursday, giving the Chinese online financial planning platform a market value of about $3.42 billion. Jianpu's (JT) initial public offering of 22.5 million American depository shares was priced at $8.00 per ADS - below its proposed range of $8.50 to $10.50 - and raised $180 million.
Telecoms group Iliad posts higher Q3 sales as subscriber base grows
French telecoms group Iliad - in fierce competition with bigger rivals such as Orange and Bouygues - posted higher third quarter revenues as it won more subscribers. Iliad, which runs the "Free" Internet and mobile brand in France, said third quarter sales had risen by 5.3 percent from a year ago to 1.246 billion euros. Iliad added it had won 250,000 new mobile subscribers during the quarter.
Theme park expo offers preview of what's new for 2018
This year's IAAPA Expo at the Orange County Convention Center in Orlando features the latest products, technology and trends in rides and the next big food items, all of which could be coming to an amusement park near you as early as the summer of 2018.
BRIEF-Cisco's CFO says revenue from software subscriptions was 52 pct of its software revenue
Cisco(CSCO): * Revenue from software subscriptions was 52pct of our software revenue- CFO, conf call. * We expect revenue growth in the range of 1 pct to 3 pct year-over-year in Q2- CFO, conf call Further company coverage:
BlackBerry signs patent licensing deal with Teletry
Canada's BlackBerry Ltd (BB) said on Wednesday it agreed to allow Teletry, a unit of patent licensing firm Marconi Group, to sub-license a broad range of its patents to global smartphone manufacturers. Blackberry said it would retain ownership of the patents and operate its own licensing program outside of Teletry's sub-licensing rights. Financial terms of the deal were not disclosed.
SendGrid shares close nearly 13% above elevated IPO pricing on first day of trading
Current trading values marketing email company above $750 million. SendGrid Inc. (SEND) shares rallied on their first day of trading Wednesday as the cloud-based marketing email delivery company priced its initial public offering above its range and added shares to the offering. SendGrid (SEND) shares surged nearly 13% to close at $18, after touching an intraday high of $19.21.
RH shares jump after home furnishings company raises guidance
Shares of RH , formerly known as Restoration Hardware, topped 9% late Wednesday after the home furnishings retailer raised its third-quarter and fiscal 2017 guidance thanks to "a dramatically more efficient operating platform," it said. Adjusted net revenues for the quarter are expected to be up 8%, despite a 1% negative impact from hurricanes Harvey and Irma, the company said in a statement. Adjusted diluted per-share earnings are expected to be in the range of $1.02 to $1.04, compared with a prior guidance of between 68 cents and 80 cents. RH said it expects net revenues for the third quarter to reach about $592.5 million, compared to a previous guidance of adjusted net revenues in the range of $575 million and $590 million. For fiscal 2017, the company called for net income in a range of $82 million and $87 million, from a previous forecast of $70 million to $77 million, and called for fiscal 2017 expenses between $120 million to $130 million, down from between $120 million to $140 million. The company said it expects fiscal 2018 net revenue between $2.58 billion to $2.62 billion, adjusted net income in the range of $125 million to $145 million, and free cash flow of more than $240 million. Shares had ended the regular trading day down 6.1%.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.
SendGrid shares surge above elevated pricing on first day of trading
Current trading values marketing email company above $750 million. SendGrid Inc. (SEND) shares rallied on their first day of trading Wednesday as the cloud-based marketing email delivery company priced its initial public offering above its range and added shares to the offering. SendGrid (SEND) shares surged 13% to $18.02 in recent activity, after touching an intraday high of $19.21, on volume of more than 7.6 million shares.
Axis’ North American Operations To Integrate 2N’s US And Canadian Operations In 2018
Axis Communications, a provider of network video, has announced that the integration of 2N’s North American operations with Axis North America will be completed as of January 1, 2018.
Axis 2N Acquisition
In 2016, Axis acquired 2N, a provider of IP-intercom, and this integration will help further expand 2N’s position in the U.S. and Canadian intercom market. Additionally, aligning with 2N will help Axis accelerate growth in the quickly converging IP-Intercom market.
2N employees in North America will be employed by Axis Communications, Inc. and all 2N products will be available through Axis’ standard distribution channels.
Faster Sales Development
“North America is the largest market for Axis, and is a priority market for future development. By including 2N’s IP-intercom products and technology into the Axis organization, we are creating a complete range of intercom...
BRIEF-Genmab says expect 2017 revenue to be in range of DKK 2,110 – 2,310 mln
Genmab(GNMSF): * GENMAB ACHIEVES USD 25 MILLION MILESTONE FOR FIRST COMMERCIAL SALE OF DARZALEX® IN JAPAN AND UPDATES FINANCIAL GUIDANCE. * GENMAB SAYS EXPECT 2017 REVENUE TO BE IN RANGE OF DKK 2.110 - 2.310 MILLION. * GENMAB-EXPECT DARZALEX ROYALTIES TO REMAIN IN RANGE OF DKK 930 - 1,100 MILLION WHICH ARE BASED ON ESTIMATED USD 1,100 - 1,300 MILLION OF DARZALEX SALES IN 2017. * NOW...
Dick's Sporting Goods shares sink on weak 2018 outlook
Dick's Sporting Goods Inc. shares sank 2.4% in Tuesday premarket trading after the athletic retailer announced a preliminary 2018 earnings per share decline of about 20%. Net income for the quarter totaled $36.9 million, or 35 cents per share, down from $48.9 million, or 44 cents per share, for the same period last year. Adjusted EPS was 30 cents, beating the 26-cents FactSet consensus. Revenue totaled $1.94 billion, up from $1.81 billion and ahead of the $1.89 billion FactSet estimate. E-commerce sales increased about 16% during the quarter, accounting for 10.3% of total sales. Same-store sales fell 0.9%, ahead of the 2.7% decline FactSet forecast. The company plans to invest in its private brands, e-commerce and other areas, according to a statement from Chief Executive Edward Stack. "Given these investments, continued gross margin pressure and approximately flat comp sales, we expect earnings per diluted share to decline by as much as 20% in 2018," he said. For full-year 2017, the company now expects EPS in the range of $2.95 to $3.07, and adjusted EPS of $2.92 to $3.04. The previous guidance was for EPS of $2.85 to $3.05 and adjusted EPS of $2.80 to $3.00. For the fourth quarter, Dick's expects EPS in the range of $1.05 to $1.17 and adjusted EPS in the range of $1.12 to $1.24. The FactSet consensus is for full-year EPS of $2.87 and fourth-quarter EPS of $1.11. Dick's shares are down nearly 57% for the past year while the S&P 500 index is up 19.4% for the period. 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.
New blood pressure range means nearly half of Americans have hypertension
Tighter blood pressure guidelines from U.S. heart organizations mean millions more people need to make lifestyle changes, or start taking medication, in order to avoid cardiovascular problems.
BRIEF-DTE Energy reaffirms 2017 operating earnings guidance range of $5.38-$5.69 per share
* DTE Energy Co says reaffirms 2017 operating earnings
range of $5.38-$5.69 per share - SEC filing
BRIEF-IHS Markit reaffirms 2017 guidance, provides 2018 guidance
IHS Markit Ltd(INFO): * IHS Markit reaffirms 2017 guidance, provides 2018 guidance. * IHS Markit Ltd (INFO) sees 2018 revenue in a range of $3.770 billion to $3.830 billion, including total organic growth of 4 percent to 5 percent. * IHS Markit Ltd (INFO) sees 2018 adjusted eps in a range of $2.17 to $2.23 per diluted share Source text for Eikon: Further company coverage:
AIRSHOW-Air Arabia leases six Airbus A321neos from Air Lease Corp
Air Arabia, the United Arab Emirates' only listed airline, announced on Monday a leasing agreement for six Airbus A321neo long-range jets from U.S.-based Air Lease Corp (AL) at the Dubai Airshow. The aircraft, powered by CFM International engines, will be delivered from 2019, Air Arabia Chief Executive Adel Ali said.
Saudi Aramco signs engineering and construction deals worth $4.5 billion
DHAHRAN, Saudi Arabia (Reuters) - Saudi Aramco signed agreements on Thursday worth $4.5 billion with firms from Europe, the United States, China and the United Arab Emirates for work on a range of oil and gas development projects, mostly aimed at boosting gas production.
BRIEF-Equifax says expect to incur significant legal and other expenses associated with cybersecurity incident
Equifax Inc(EFX). * Equifax Inc(EFX) says incurred $4.7 million through September 30, 2017 and have estimated a range of additional costs between $56 million and $110 million.
Saudi Aramco signs engineering and construction deals worth $4.5 bln
Saudi Aramco signed agreements on Thursday worth $4.5 billion with firms from Europe, the United States, China and the United Arab Emirates for work on a range of oil and gas development projects, mostly aimed at boosting gas production.
UPDATE 1-Saudi Aramco signs engineering and construction deals worth $4.5 bln
DHAHRAN, Saudi Arabia, Nov 9 (Reuters) - Saudi Aramco signed
agreements on Thursday worth $4.5 billion with firms from
Europe, the United States, China and the United Arab Emirates
for work on a range of oil and gas development projects, mostly
aimed at boosting gas production.
BRIEF-Chinese search engine Sogou Inc's IPO priced at $13/ADS - source
Sogou Inc. * Sogou Inc's IPO priced at $13 per ADS, top-end of expected range - source Further company coverage:
Chinese search-engine Sogou's IPO priced at $13/ADS -source
Nov 8 (Reuters) - The initial public offering for China's
second-largest search engine, Sogou Inc, was priced at $13 per
American Depository share (ADS), according to a source close to
the matter, at the top end of the expected range of $11 to $13.
Shares of Twilio rally 3% as third-quarter results meet expectations
Twilio Inc. shares gain in Wednesday's extended session after the cloud-communications company posted in-line quarterly results. Twilio reported its third-quarter loss widened to $23.5 million, or 25 cents a share, from $11.3 million, or 13 cents a share, a year earlier. On an adjusted basis it would have lost 8 cents a share, which is in line with analysts' average estimate in a FactSet survey. Revenue rose to $100.5 million from $71.5 million. Wall Street had projected $92.5 million. For the current quarter, Twilio expects an adjusted loss per share of 6 cents to 5 cents and revenue in a range of $102.5 million to $104.5 million. Analysts are predicting an adjusted loss per share of 6 cents and revenue of $98.7 million. Twilio shares climbed 3% after hours. 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.
Creditor asks trade body if Veneuzela's PDVSA defaulted on bond payment
A creditor asked the International Swaps and Derivatives Association's Determinations Committee if a $1.1 billion principal payment for a bond issued by PDVSA, its state-owned oil company, came up short. The payment was due on Nov. 3, but the issuer has a three-day grace period before a creditor can ask the ISDA to intervene. If the derivatives trade body rules the PDVSA had defaulted on its bonds, this would open the door to the triggering of credit-default swaps, which act like insurance against debt nonpayment. Venezuelan President Nicolas Maduro had promised the country would make the $1.1 billion payment before restructuring all of its debts. Estimates of the nation's debt burden range from $100 billion to $150 billion.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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