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  • 09/25/2017 10:12:42

    Colgate-Palmolive's stock surges as analyst sees 'rare opportunity' to buy

    Shares of Colgate-Palmolive Co. ran up 3.4% toward a 2 1/2-month high in midday trade Monday, after the consumer products company was upgraded at Morgan Stanley, citing valuation and expectations of a re-acceleration in sales growth. Analyst Dara Mohsenian raised his rating to overweight from equal weight, and lifted his stock price target to $84 from $75. In a recent survey of investors, Mohsenian said Colgate-Palmolive scored the lowest on sentiment among the mega-cap consumer staples companies covered, which likely stems from three-straight quarters of sales growth disappointments and subpar earnings quality. But Mohsenian said he believes revenue growth will accelerate given easier comparisons and a rebound in emerging markets, at a time when the market is "mispricing" the company's strategic options and competitive position. "We see a rare opportunity to buy a well-positioned business at a valuation level close to structurally less-attractive peers, as [Colgate-Palmolive's] topline slowdown vs. peers has driven stock underperformance," Mohsenian wrote in a note to clients. The stock has lost 3.1% over the past three months, while the SPDR Consumer Staples Select Sector ETF has eased 2.2% and the S&P 500 has gained 2.2%.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.

  • 09/21/2017 15:00:23

    Versartis shares halted

    Shares of Versartis Inc. were halted late Thursday after the biopharmaceutical company said its drug somavaratan failed to meet its primary endpoint in a phase 3 trial. The drug, a form of human growth hormone that seeks to treat growth-hormone deficiency, failed to demonstrate superiority to Genotropin, an offering from Pfizer Inc. , in a study focusing on pediatric growth-hormone deficiency. "We are very surprised and disappointed to learn the outcome," Chief Executive Jay Shepard said in Thursday's announcement, adding that the company planned to provide a corporate update later this year. Versartis shares have gained 27% in the past three months, more than 10 times the gains for the S&P 500 Index in the same period, and nearly 45% so far this 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.

  • 09/13/2017 11:47:06

    Chesapeake Energy's stock surges toward biggest gain in over 5 1/2 months as crude prices rally

    Shares of Chesapeake Energy Corp. shot up 7.1% in active afternoon trade Wednesday, putting them on track for their best performance since March 29, as upbeat government crude production data helped propel crude price to a third-straight gain. Trading volume in the oil and gas exploration company's stock climbed to 33.6 million shares, already above the full-day average of 32.6 million shares, and enough to make the stock the New York Stock Exchange's second-most actively traded. Crude oil futures rallied 2.2%, after the U.S. Energy Information Administration said domestic crude supplies increased 5.9 million barrels in the week ended Sept. 8, well below forecasts of a rise of 10.1 million barrels. The correlation coefficient between Chesapeake's stock and continuous crude oil futures was 0.903, where 1.000 means they move exactly a like. Chesapeake's stock, which closed at a 17-month low as recently as Aug. 30, has still tumbled 24% over the past three months. In comparison, the SPDR Energy Select Sector ETF has slipped 1.9% the past three months while the S&P 500 has gained 2.3%.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.

  • 09/12/2017 21:22:47

    WhatsApp co-founder Brian Acton leaving Facebook

    WhatsApp co-founder Brian Acton announced his departure from the company Tuesday, three years after Facebook Inc. bought the messaging app for $22 billion. "After 8 years at WhatsApp, I have decided to move on and start a new chapter in my life," he said in a Facebook post. Acton said he intends to start a foundation "focused at the intersection of nonprofit, technology and communications." Acton ran WhatsApp's engineering team. His fellow co-founder, CEO Jan Koum, will remain at the company. Last week, Facebook said it would eventually start charging companies for some of WhatsApp's features as it seeks a path to monetization. In July, Facebook said WhatsApp had reached 1 billion daily active users, but that it will take a few years to start making money from the app. Facebook shares are up 17% in the past three months, and up 50% year to date, compared to compared to the S&P 500's gains of 3% and 12%, respectively.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.

  • 09/07/2017 14:57:56

    Tintri plunges after first post-IPO earnings report

    Tintri Inc. dropped more than 9% in late trading Thursday after the company's first earnings report since its initial public offering. The flash-storage company reported a second-quarter net loss of $51.7 million, or $2.05 a share, on revenue of $34.9 million, an improvement from losses of $7.53 a share a year ago on sales of $27.6 million. After adjusting for stock-based compensation, the company claimed a loss of 91 cents a share, up from a loss of $1.03 a share a year ago. Analysts on average expected adjusted losses of 98 cents a share on sales of $35.7 million, according to FactSet. After missing sales expectations, Tintri also disappointed with its forecast, guiding for third-quarter revenue of $36 million to $37 million as analysts were projecting revenue of $42.8 million on average. Tintri, which cut its targeted price and share count ahead of its IPO before pricing shares at the bottom of its range, fell close to $6 a share in late trading after closing with a 1.6% decline at $6.68.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.

  • 09/07/2017 12:51:13

    Disney, Goldman stocks cut nearly 60 points from Dow industrials

    The Dow Jones Industrial Average was trading in negative territory Thursday afternoon, with shares of Walt Disney Co., and Goldman Sachs Group Inc., proving the biggest drags on the benchmark. Shares of Disney were down $5.13, or 5%, by far the worst performer among the Dow's 30 components and slicing more than 35 points from the price-weighted gauge. A $1 swing in any Dow component equates to a move of 6.89 points. The Dow was off 47 points, or 0.2% at 21,759, while the S&P 500 index was down 0.1% at 2,463, and the Nasdaq Composite Index was up about 0.1% at 6,396. During a Bank of America Merrill Lynch's Media, Communications & Entertainment Conference, Disney CEO Bob Iger said the entertainment and media giant will report annual earnings "roughly in line" with what the company generated in fiscal year 2016 at about $5.72, disappointing analysts average, annual estimates for full-year earnings a share of $5.89. Other media stocks also fell on the news, including CBS and 21st Century Fox . Meanwhile, Goldman Sachs Group Inc.'s shares also pressured the Dow as benchmark yields trade near fresh November lows, at 2.06%, for the 10-year Treasury note . That fact and diminished expectations for more rate increases by the Federal Reserve in 2017 weighs on a bank's business model. Combined, Goldman and Disney's stock were dragging the Dow down by about 60 points. 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.

  • 09/07/2017 11:23:33

    Disney stock cuts almost 30 points from Dow industrials

    The Dow Jones Industrial Average was trading in negative territory Thursday afternoon, with shares of Walt Disney Co., and Apple Inc., proving the biggest drags on the benchmark. Shares of Disney were down $4.34, or 4.3%, the worst performer among the Dow's 30 components and slicing almost 30 points from the price-weighted gauge. A $1 swing in any Dow component equates to a move of 6.89 points. The Dow was off nearly 40 points, or 0.2% at 21,766, while the S&P 500 index was down 0.1% at 2,463, and the Nasdaq Composite Index was up about 0.1% at 6,396. During a Bank of America Merrill Lynch's Media, Communications & Entertainment Conference, Disney CEO Bob Iger said the entertainment and media giant will report annual earnings "roughly in line" with what the company generated in fiscal year 2016 at about $5.72, disappointing analysts average, annual estimates for full-year earnings a share of $5.89. Other media stocks also fell on the news, including CBS and 21st Century Fox . Meanwhile, Apple Inc.'s shares also pressured the Dow after a report from The Wall Street Journal that said the Cupertino, Calif.-based tech giant has been plagued by production glitches as it looks to roll out its latest update to its smartphone lineup with the the iPhone 8. Apples shares were down 62 cents or 0.4%, in most recent trade. 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.

  • 09/07/2017 10:48:55

    Disney, Apple stocks cut 30 points from Dow industrials

    The Dow Jones Industrial Average was trading in negative territory Thursday afternoon, with shares of Walt Disney Co., and Apple Inc., proving the biggest drags on the benchmark. Shares of Disney were down $3.70, or 3.6%, the worst performer among the Dow's 30 components and slicing about 25 points from the price-weighted gauge. A $1 swing in any Dow component equates to a move of 6.89 points. The Dow was off nearly 60 points, or 0.3% at 21,753, while the S&P 500 index was down 0.2% at 2,461, and the Nasdaq Composite Index was up about 0.2% at 6,388. During a Bank of America Merrill Lynch's Media, Communications & Entertainment Conference, Disney CEO Bob Iger said the entertainment and media giant will report annual earnings "roughly in line" with what the company generated in fiscal year 2016 at about $5.72, disappointing analysts average, annual estimates for full-year earnings a share of $5.89. Other media stocks also fell on the news, including CBS and 21st Century Fox . Meanwhile, Apple Inc.'s shares also pressured the Dow after a report from The Wall Street Journal that said the Cupertino, Calif.-based tech giant has been plagued by production glitches as it looks to roll out its latest update to its smartphones: the iPhone 8. Apples shares were down 85 cents or 0.5%, in most recent trade. 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.

  • 09/07/2017 10:39:32

    Disney stock cuts 25 points from Dow industrials after Iger lowers earnings expectations

    The Dow Jones Industrial Average was trading in negative territory Thursday afternoon, with shares of Walt Disney Co., proving the biggest drag on the benchmark after its CEO issued an earnings warning. Shares of Disney were down $3.60, or 3.6%, the worst performer among the Dow's 30 components and slicing about 25 points from the price-weighted gauge. A $1 swing in any Dow component equates to a move of 6.89 points. The Dow was off nearly 60 points, or 0.3% at 21,753, while the S&P 500 index was down 0.2% at 2,461, and the Nasdaq Composite Index was up about 0.2% at 6,388. During a Bank of America Merrill Lynch's Media, Communications & Entertainment Conference, Disney CEO Iger said the entertainment and media giant will report annual earnings "roughly in line" with what the company generated in fiscal year 2016 at about $5.72, disappointing analysts average, annual estimates for full-year earnings a share of $5.89. Other media stocks also fell on the news, including CBS and 21st Century Fox . 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.

  • 09/07/2017 10:19:11

    Disney stock cuts 24 points from Dow industrials after Iger cuts expectations

    The Dow Jones Industrial Average was trading in negative territory Thursday afternoon, with shares of Walt Disney Co., proving the biggest drag on the benchmark after its CEO issued an earnings warning. Shares of Disney were down $3.35, or 3.3%, the worst performer among the Dow's 30 components and slicing about 24 points from the price-weighted gauge. A $1 swing in any Dow component equates to a move of 6.89 points. The Dow was off 35 points, or 0.2% at 21,773, while the S&P 500 index was down 0.1% at 2,463, and the Nasdaq Composite Index was up about 0.1% at 6,397. During a Bank of America Merrill Lynch's Media, Communications & Entertainment Conference, Disney CEO Iger said the entertainment and media giant will report annual earnings "roughly in line" with what the company generated in fiscal year 2016 at about $5.72, disappointing analysts average, annual estimates for full-year earnings a share of $5.89. Other media stocks also fell on the news, including CBS and 21st Century Fox . 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.

  • 09/05/2017 09:52:11

    Microsoft president urges Congress: put Dreamers before tax reform

    WASHINGTON, Sept 5 (Reuters) - The president of Microsoft Corp expressed deep disappointment on Tuesday with President Donald Trump's decision to rescind a program for immigrants brought into the United States illegally as children and urged Congress to protect these so-called Dreamers before embarking on tax reform legislation.

  • 09/01/2017 10:09:46

    US stocks edge higher as jobs report reassures Wall Street

    US stocks are mostly higher as a modestly disappointing August jobs report confirms investors' feelings that the Federal Reserve probably won't raise interest rates again soon

  • 08/28/2017 15:02:29

    Finish Line shares down 21% after company warns of lower profit

    Finish Line Inc. shares tanked late Monday following a halt as the company warned its per-share earnings will come well below Wall Street expectations and predicted a steep decline in sales and profits for the year. The footwear retailer said its net sales were $469.4 million in the second quarter, down 3.3% compared with the year-ago period, thanks to a 4.6% decrease in comparable sales. "Based on the decline in sales and pressure on gross margin from increased markdowns," the company expects to report second-quarter earnings per share in the range of 8 cents to 12 cents, it said in a statement. Analysts polled by FactSet expect second-quarter earnings of 37 cents a share on sales of $477 million. "The marketplace for athletic footwear became much more promotional as our second quarter progressed resulting in challenging sales and gross margin trends," Chief Executive Sam Sato said. Based on the results so far this year and the expectation margin trends will "remain challenging" through the year, Finish Line said it expects comparable sales to decrease 3% to 5%, versus a previous guidance of an increase in the low-single digits. Adjusted earnings per share are seen in the range of 50 cents to 60 cents for fiscal 2018, versus a previous guidance range of $1.12 to $1.23 a share, and compared with adjusted earnings per share of $1.06 for the fiscal year ended in February. "We believe it is prudent to adjust our outlook as we expect the environment to remain highly competitive and promotional throughout the remainder of the year," Sato said. "In light of our disappointing second-quarter results and revised projections for fiscal 2018, we will remain very disciplined in managing our expenses and inventories throughout the remainder of the year." The shares ended the regular trading session down 2.3%. Finish Line is scheduled to report earnings on Sept. 22. 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.

  • 08/28/2017 14:47:01

    Finish Line shares halted after company warns of lower profit

    Finish Line Inc. shares were halted late Monday as the company warned its per-share earnings will come well below Wall Street expectations and predicted a steep decline in sales and profits for the year. The footwear retailer said its net sales were $469.4 million in the second quarter, down 3.3% compared with the year-ago period, thanks to a 4.6% decrease in comparable sales. "Based on the decline in sales and pressure on gross margin from increased markdowns," the company expects to report second-quarter earnings per share in the range of 8 cents to 12 cents, it said in a statement. Analysts polled by FactSet expect second-quarter earnings of 37 cents a share on sales of $477 million. "The marketplace for athletic footwear became much more promotional as our second quarter progressed resulting in challenging sales and gross margin trends," Chief Executive Sam Sato said. Based on the results so far this year and the expectation margin trends will "remain challenging" through the year, Finish Line said it expects comparable sales to decrease 3% to 5%, versus a previous guidance of an increase in the low-single digits. Adjusted earnings per share are seen in the range of 50 cents to 60 cents for fiscal 2018, versus a previous guidance range of $1.12 to $1.23 a share, and compared with adjusted earnings per share of $1.06 for the fiscal year ended in February. "We believe it is prudent to adjust our outlook as we expect the environment to remain highly competitive and promotional throughout the remainder of the year," Sato said. "In light of our disappointing second-quarter results and revised projections for fiscal 2018, we will remain very disciplined in managing our expenses and inventories throughout the remainder of the year." The shares ended the regular trading session down 2.3%. Finish Line is scheduled to report earnings on Sept. 22. 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.

  • 08/28/2017 14:15:55

    Dow, S&P 500 finish at break-even levels in Harvey's wake; Nasdaq logs a gain

    U.S. stocks closed Monday trade little changed, with gains in health-care and technology stocks offsetting losses for energy and financials as investors watched the aftermath of Hurricane Harvey that has left parts of the Houston-area underwater. The Dow Jones Industrial Average closed flat at 21,808. Shares of insurance giant Travelers Cos. Inc., traded lower in the aftermath of the storm, taking a toll on the blue-chip gauge. The S&P 500 index ended the session in the green but with a slight gain of 1.18 point, or less than 0.1%, at 2,444. The health-care sector rose 0.6%, posting the day's best gain among the broad-market index's 11 sectors, while energy and financials led losses, down 0.5% a piece. The Nasdaq Composite Index , meanwhile, posted the best performance among the three main U.S. equity benchmarks, up 0.3% at 6,283. Crude-oil prices were in focus as the now-Tropical storm Harvey continued to buffet the Gulf Coast region , a substantial energy refining hub for U.S. crude products, with heavy rains. October West Texas Intermediate crude fell $1.30, or 2.7%, to settle at $46.57 a barrel. Meanwhile, September gasoline climbed 4.6 cents, or 2.7%, to $1.712 a gallon-- the highest finish for a front-month contract since April 17. Crude products saw prices sink as the devastating storm saps demand from refineries but puts gasoline prices higher demand. 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.

  • 08/28/2017 09:37:21

    ACLU files suit challenging Trump's transgender ban for military

    The American Civil Liberties Union said Monday it has filed a lawsuit with a Maryland court challenging President Donald Trump's "cruel policy' in banning transgender people from serving in the U.S. military. The suit was filed on the part of Petty Officer First Class Brock Stone, who has served in the U.S. Navy for 11 years and done stints in Afghanistan, along with other transgender members of the armed forces. Trump first announced his intention for the ban in a series of tweets on July 26, before directing the Pentagon to implement it last Friday. The suit claims that the ban is unconstitutional and denies transgender people their rights. Trump tweeted that he had made the decision after consulting with military officials, but news reports indicated that the Secretary of Defense and others were taken by surprise, said the suit. The ACLU said Trump's actual motivations were political and aimed at accommodating legislators "who bear animus and moral disapproval toward men and women who are transgender," with a goal of getting the votes for a spending bill that includes funds for his planned border wall. 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.

  • 08/25/2017 13:29:42

    Euro strongest versus dollar since January 2015 after Draghi speech

    The euro jumped against the U.S. dollar on the back of European Central Bank President Mario Draghi's speech at Jackson Hole, Wyo. The eurozone currency surged and remains up 1% versus the dollar at $1.1922 in the aftermath aftermath of Draghi's speech. The euro reached its highest level since January 2015. The euro began to strengthen earlier after the speech from Federal Reserve Chairwoman Janet Yellen disappointed markets. The ICE dollar index dropped 0.8% to 92.5080, its lowest level since January 2015, before rebounding slightly to 92.5420. The British pound held on to its gains against the dollar from earlier at $1.2884, up 0.6% from Thursday.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.

  • 08/22/2017 14:39:32

    La-Z-Boy shares tank after earnings miss

    Shares of La-Z-Boy Inc. fell more than 15% late Tuesday after the furniture maker reported fiscal first-quarter 2018 earnings and sales below Wall Street expectations and Chief Executive Kurt L. Darrow said the company was "disappointed" with the results. La-Z-Boy said it earned $11.7 million, or 24 cents a share, in the quarter, compared with $13.8 million, or 28 cents a share, in last year's first quarter. Sales rose 5% to $357.1 million, from $340.8 million in last year's first quarter. Analysts polled by FactSet had expected earnings of 29 cents a share on sales of $358 million. Much of the consolidated sales increase in the quarter "related to acquired sales which did not add volume to our upholstery manufacturing operations," the company's most profitable segment, Darrow said in a statement. "Lower volume throughout our plants made it difficult to absorb fixed costs and this, combined with the normal seasonal slowdown and continued investments across the business, impacted our upholstery operating margin for the period," and expenses increased in the quarter, he said. Shares had ended the regular trading session up 0.3%. 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.

  • 08/22/2017 01:50:12

    Provident warns on profit again; CEO to leave

    Provident Financial PLC has issued its second profit warning in recent months after what the U.K. lender described as "substantial deterioration" in the performance of its home credit business. The company said Tuesday that it expects to log a loss between 80 million pounds and £120 million in the third quarter. In June, Provident warned of a £60 million loss for the period. The company said in its trading update Tuesday that it is withdrawing the interim dividend declared on July 25 and signaled that a full-year dividend is unlikely. Provident's chief executive, Peter Crook, is stepping down with immediate effect. It said debt collections are at 57% compared with 90% in 2016, and sales are £9 million a week lower. The disappointing home credit performance comes after Provident shifted to using full-time "customer experience managers" rather than self-employed agents. 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.

  • 08/17/2017 14:19:57

    Energy sector ETF tumbles into first bear market in 18 months

    The SPDR Energy Select Sector exchange-traded fund fell 1.4% Thursday to close at a 16-month low, enough to kick off a new bear market. Many market participants define a bear market as a decline of 20% or more from a bull market peak. And the ETF tracking the energy sector (XLF), which is one of the S&P 500's 11 key sectors, has now lost 20.3% since closing at a bull-market peak of $77.83 on Dec. 13, 2016, which at the time was an 18-month high. Of the XLE's 32 components, 15 have tumbled more than 20% year to date, and 11 of lost more than 30%. The last bear market for the XLE had ended on March 7, 2016, when the XLE closed 20.5% above its previous bear market low of $51.77 on Jan. 20, 2016. On Thursday, 30 of the XLE's components closed lower, with shares of Marathon Oil Corp. down 3.3% to pace the decliners. Chesapeake Energy Corp.'s stock slumped 3.0%, and was the most active component with 36 million shares traded. The XLE's losses Thursday come a rally in oil prices, as September crude oil futures settled up 0.7%.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.

  • 08/17/2017 09:53:41

    Quartet of stocks, led by Wal-Mart, Goldman, chop 50 points from Dow industrials

    The Dow Jones Industrial Average on Thursday was being yanked firmly lower in midday trade as four of its components were under severe pressure. Shares of Apple Inc. , Goldman Sachs Group Inc. , Wal-Mart Stores Inc. and Cisco Systems Inc. were exacting a more-than 50-point toll on the Dow , which was down more than 100 points, with those components representing the lion's share of the fall. Wal-Mart's share decline came even as the the giant retailer reported quarterly results that were better than expected, but showed disappointing sales in its Sam's Club unit. Cisco Systems Inc. lost 3.9% after the networking-equipment company late Wednesday reported earnings that missed forecasts. More broadly, the S&P 500 index was off 0.7% at 2,452, and the Nasdaq Composite Index was giving up 0.8% in early trade at 6,292. 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.

  • 08/17/2017 08:28:29

    Quartet of stocks, led by Wal-Mart, Goldman, chop 55 points from Dow industrials

    The Dow Jones Industrial Average on Thursday was being yanked firmly lower in early trade as four of its components were under severe pressure. Shares of Apple Inc. , Goldman Sachs Group Inc. , Wal-Mart Stores Inc. and Cisco Systems Inc. were exacting a more-than 50-point toll on the Dow , which was down more than 100 points at last check, with those components representing the lion's share of the fall. Wal-Mart's share decline came even as the the giant retailer reported quarterly results that were better than expected but showed disappointing sales in its Sam's Club unit. More broadly, the S&P 500 index was off 0.6% at 2,452, and the Nasdaq Composite Index was giving up 1% in early trade at 6,284. 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.

  • 08/17/2017 08:22:22

    Quartet of stocks, led by Wal-Mart, Apple, chop 50 points from Dow industrials

    The Dow Jones Industrial Average on Thursday was being yanked firmly lower in early trade as four of its components were under severe pressure. Shares of Apple Inc. , Goldman Sachs Group Inc. , Wal-Mart Stores Inc. and Cisco Systems Inc. were exacting a more-than 50-point toll on the Dow , which was down more than 100 points at last check, with those components representing the lion's share of the fall. Wal-Mart's share decline came even as the the giant retailer reported quarterly results that were better than expected but showed disappointing sales in its Sam's Club unit. More broadly, the S&P 500 index was off 0.6% at 2,452, and the Nasdaq Composite Index was giving up 1% in early trade at 6,284. 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.

  • 08/10/2017 05:47:03

    Dillard's shares fall after earnings miss

    Dillard's Inc. fell 10% in Thursday premarket trading after the retailer reported second-quarter earnings that missed expectations. Losses for the quarter totaled $17.1 million, or 58 cents per share, after net income of $12.1 million, or 35 cents per share, for the same period the previous year. The FactSet consensus was for EPS of 18 cents. Sales totaled $1.46 billion, down from $1.49 billion last year and ahead of the $1.44 billion FactSet consensus. Same-store sales fell 1% for the quarter. Sales of women's clothing rose slightly, but shoes were below trend, the company said. "Significant markdowns led to a disappointing loss as we dealt with inventory, which was up 2% at quarter end," said Chief Executive William Dillard in a statement. Dillard's shares are up 26.7% for the last three months and up 17% for the year so far. The S&P 500 index is up 10.5% for 2017 to date.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.

  • 08/09/2017 09:08:15

    Disney, Goldman stocks exact steeper toll than North Korea on Dow

    The Dow Jones Industrial Average is being weighed down by a steep drop in shares of Walt Disney Co., and Goldman Sachs Group Inc., in early trade Wednesday. Disney's shares were contributing to a 35-point slump in the price-weighted blue-chip equity gauge, representing the lion's share, or more than half, of the benchmark's early morning retreat. Goldman's stock , meanwhile, was sapping about 12 points from the Dow. All totaled, the pair exacted a nearly 50-point toll on the blue-chip average. Wall Street also is reacting to a flare-up in military tensions after North Korea threatened to launch a missile strike aimed at U.S. territory Guam, underlining deteriorating relations between Washington and Pyongyang. Still, the majority of the slide in the Dow appeared to be largely pegged to Disney's late-Tuesday announcement, along with quarterly earnings, that it would launch an ESPN streaming service in 2018 and a direct-to-consumers offering in 2019, as it ends its distribution deal with Netflix Inc. . Overall, the Dow was off 50 points, or 0.2%, at 22,035, while the S&P 500 index was trading 0.2% lower at 2,469, and the Nasdaq Composite Index was 0.5% lower at 6,340. Mounting political tensions have cast a downbeat shadow over markets but the decline so far appears to be relatively muted. 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.

  • 08/07/2017 21:16:09

    Asia stocks deflate as China trade disappoints

    SYDNEY (Reuters) - Asian shares went flat on Tuesday as disappointing Chinese trade data clouded the otherwise upbeat outlook on global growth, leaving currencies and commodities becalmed in summer doldrums.

  • 08/07/2017 10:10:36

    Teva's stock keeps plunging on heavy volume after Morgan Stanley downgrade

    Shares of Teva Pharmaceutical Industries Ltd. tumbled 8% in morning trade Monday on heavy volume, putting them on track to close at a 14-year low, as Morgan Stanley turned bearish on the generic drug maker in the aftermath of disappointing results. Volume ballooned to 39.1 million shares, which was more than triple the full-day average, and enough to make it the most actively traded stock on the major U.S. exchanges. The stock was headed for an eighth straight loss to the lowest close since March 13, 2003, highlighted by 39% plunge the past three sessions after the company missed profit expectations and cut its outlook, citing accelerated price erosion and decreased volume in its U.S. generics business. On Monday, Morgan Stanley analyst David Risinger cut his rating to underweight from equal weight, and slashed his stock price target to $16 from $36, saying he had underappreciated the risk of generics pricing pressure to Teva's earnings. The stock has plummeted 48% year to date, while the SPDR S&P Pharmaceuticals ETF has gained 5.9% and the S&P 500 has advanced 11%.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.

  • 08/04/2017 10:00:31

    Snap's stock surges toward first back-to-back rally in 5 weeks

    Shares of Snapchat parent Snap Inc. shot up 3.9% in midday trade Friday, putting it on course for back-to-back gains for the first time in five weeks. The disappearing-messaging app company's stock has now run up 13% since it hit a record intraday low of $11.90 on Thursday, when it was down as much as 5.9% before bouncing sharply to close up 2.2%. It was still down 1.8% since its closed at $13.67 on July 31, which was when the post-IPO lockup period expired. Prior to Thursday's gain, the stock had fallen in 17 of the previous 20 sessions. The last time the stock rose for more than just one day was the three-session win streak ending June 29. It was still 21% below the $17 IPO price. Snap is scheduled to report second-quarter results after the Aug. 10 close. The stock has tumbled 41% over the past three months, while rival Instagram parent Facebook Inc. shares have rallied 12% and the S&P 500 has gained 3.6%.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.

  • 08/03/2017 11:55:20

    Chesapeake Energy's stock reverses lower as disappointing production offset profit beat

    Shares of Chesapeake Energy Corp. erased earlier sharp gains to head toward a fourth-straight loss, as disappointing production data offset a profit and revenue beat. The stock was up as much as 3.5% in the opening minute, after the oil and gas exploration company reported second-quarter results, then pulled back to be down as much as 2.6% a little after 10 a.m. ET, before bouncing slightly to be down 1.2% in afternoon trade. Volume was 43.7 million shares, above the full-day average of about 32.2 million shares, and enough to make the stock the third-most active on major U.S. exchanged. Raymond James analyst John Freeman pointed out that reported production of about 528,000 barrels of oil equivalent (BOE) per day was below his forecast of 543,000 and the Wall Street consensus of 538,000. He also noted that production costs of $2.92 per BOE was above his estimate of $2.40 per BOE> Freeman reiterated his underperform rating, which has been in place since Jan. 4, 2016. The stock has plunged 35% year to date, while the SPDR Energy Select Sector ETF has lost 13.1% and the S&P 500 has gained 10.4%.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.

  • 08/03/2017 05:25:15

    Chesapeake Energy shares jump almost 4% after profit and revenue beats

    Chesapeake Energy Corp. shares rose 3.9% in premarket trade Thursday, after the company topped profit and revenue estimates for the second quarter. Chesapeake said it had net income of $470 million, or 47 cents a share, in the quarter, up from $75 million, or 8 cents a share, in the year-earlier period. Adjusted per-share earnings came to 18 cents, ahead of the FactSet consensus of 14 cents. Revenue rose to $2.281 billion from $1.622 billion, as oil and gas revenue rose to $1.279 billion from $440 billion, and marketing revenue came to $1.002 billion, down from $1.182 billion. The FactSet consensus was for oil and gas revenue of $1.057 billion, and marketing revenue of $1.241 billion. "Our assets continue to deliver improving well results due to longer laterals and enhanced completion techniques, with a new record operated well in the Marcellus being a prime example of this," Chief Executive Doug Lawler said in a statement. "We expect our total production to move higher throughout the year, driven by large turn-in-line projects underway in the Eagle Ford, Utica and Powder River Basin operating areas." Shares have fallen 37% in 2017, while the S&P 500 has gained 10.7%. 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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