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  • 01/09/2018 12:54:08

    Lands' End opening stores amid shrinking Sears footprint, partnering with The Weather Channel

    Lands' End Inc. said Monday that it has a new store concept that will launch in Chicago this year with plans to open four-to-six other locations. Over the next five years, the company will open between 40 and 60 stores. Lands' End has about 180 locations in Sears Holdings Corp. stores, according Jerome Squire Griffith, Lands' End chief executive, in a FactSet transcript of his presentation at the ICR Conference. "As you know, the Sears store group is continuing to close stores and our numbers continue to go down," he said. We will not be really relying on Sears in the future for growth for us." Sears announced 100 store closures, including Kmart, last week. "[I]t's our expectation that our Sears business at a point in time will go away and that we'll be talking directly to the consumer through out own stores." Besides stores, Lands' End plans to extend its reach through a partnership with The Weather Channel. "The Weather Channel has a core consumer attribute that is exactly the same as Lands' End with many more customers than what we have," said Griffith. Finally, Lands' End Outfitters, the company's uniform arm which generates about two-thirds of its business, according to Griffith, has a new customer, Delta Air Lines Inc. , which is also the company's biggest client. Lands' End shares are up nearly 2% in Tuesday trading, and up 47.7% for the last three months. The S&P 500 index is up 8.4% for the past three months. 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.

  • 01/04/2018 12:31:42

    HBO confirms 'Game of Thrones' final season to air in 2019

    HBO confirmed on Thursday that its most popular series "Game of Thrones" won't return for its eighth and final season until 2019. The Time Warner Inc.-owned premium cable network did not say when exactly in 2019 the next season might air, but the show began production back in October, and it's expected to run until the middle of 2018. The final episode of the show's most recent seventh season pulled in 12.1 million viewers, making it the most-watched episode in the series's history. HBO has been trying to find a replacement for the massive hole the end of "Game of Thrones" will leave at the network. While creators and executive producers David Benioff and D.B. Weiss will try their hand at a controversial alternate history drama "Confederate" once "Game of Thrones" ends, HBO has five potential spinoffs of the show in development. Shares of Time Warner have declined nearly 5% in the trailing 12-month period, while the S&P 500 index is up 20% and the Dow Jones Industrial Average is up 25%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.

  • 01/02/2018 06:32:25

    Apple shares rise premarket after Piper Jaffray says they are in a 'super-long cycle'

    A survey of 400 iPhone buyers has bolstered Piper Jaffray analysts' expectations for the mix of iPhones to be sold in fiscal 2018, according to a note published Tuesday. "Specifically, we are modeling iPhone X to account for 38% of iPhones sold this year, essentially in-line with our survey at 35% of buyers intending to buy iPhone X," they wrote. "Our estimated mix of iPhone 8 in FY18 is 40% and our survey was exactly in-line at 40%." That has made the analysts confident that average selling price and revenue and EPS estimates are on track. Piper Jaffray is betting that Apple shares will continue to move higher in a "super-long cycle" versus a "super cycle". They reiterated their outperform rating on the stock and $200 price target. Apple shares rose 0.5% premarke, and have gained 46% in the last 12 months, while the S&P 500 has gained 19%. 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.

  • 12/28/2017 10:19:05

    Here’s what Calif.'s legalization of marijuana means for consumers

    California begins legal recreational marijuana sales in 2018 and along with that, there are a host of questions about exactly how the system will work and the rules people need to follow.        

  • 12/20/2017 10:08:33

    United Therapeutics to pay $210 million to settle government allegations of kickback payments

    United Therapeutics Corp. agreed Wednesday to pay $210 million to settle claims that it paid kickbacks to Medicare patients. The U.S. Attorney's office had alleged that the company violated the Anti-Kickback Statute of the False Claims Act, which prohibits drug companies from paying to induce Medicare patients to buy their drugs. The company, which sells a number of pulmonary arterial hypertension drugs, allegedly used a foundation claiming non-profit status as a conduit to pay the co-pay obligations of "thousands" of Medicare patients taking its drugs. "UT used a third party to do exactly what it knew it could not lawfully do itself," said Acting U.S. Attorney William Weinreb. The $210 million settlement is equal to 47% of total third-quarter revenue. United Therapeutics's stock gained 0.3% in midday trade. It has lost 5.2% year to date, while the S&P 500 has climbed 20%.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.

  • 12/12/2017 15:08:23

    Facebook to direct fewer ad sales through low-tax Ireland

    Facebook Inc. said Tuesday that it will record advertising revenue in countries where it sells ads instead of at its Dublin, Ireland, headquarters. The company said in a blog that it aims to complete the transition by the first half of 2019 and anticipates that it will require significant resources to implement around the world. "We believe that moving to a local selling structure will provide more transparency to governments and policy makers around the world who have called for greater visibility over the revenue associated with locally supported sales in their countries," Facebook Chief Financial Officer Dave Wehner said in the blog post. While it's unclear from the blog exactly how much revenue Facebook is talking about, the company records 47% of its revenue in the U.S., according to FactSet. The change would significantly boost Facebook revenue recorded in 27 countries including Germany, Japan and Argentina likely increasing the tax bill in those countries, according to The Wall Street. Facebook shares have gained 54% this year, with the S&P 500 index gaining 19%.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.

  • 11/13/2017 16:55:02

    Can wearable tech gives sports teams the edge?

    The numbers don't lie, wearable technology tells sports coaches exactly how hard their teams are working.

  • 11/09/2017 04:31:46

    Fed's Mester says gradual interest-rate hikes remain best policy for now

    A gradual increase to interest rates is the best way to deal with inflation and keep economic growth afloat, Loretta Mester, president of the Federal Reserve Bank of Cleveland told CNBC Thursday. "Obviously we want to be responsible to changes in the economic outlook and as data comes in we are always revising the outlook," said Mester, a non-voting member of the policy panel this year. The Fed has signaled its readiness to raise interest rates again next month. The central bank has also started rolling off its $4.5 trillion balance sheet built up under its quantitative easing program, in a further effort to normalize monetary policy. Mester said it's too soon to try to factor in any impact from proposed tax policy changes to the interest-rate outlook without knowing exactly what that policy will look like, although she said she has included some fiscal stimulus in her forecasts, according to CNBC.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.

  • 11/05/2017 18:34:26

    Rand Paul suffered 5 broken ribs in alleged attack by neighbor

    Sen. Rand Paul suffered more extreme injuries that initially reported during an altercation with a neighbor Friday. The Kentucky Republican received five broken ribs and bruises to his lungs, officials said Sunday. Paul, 54, was allegedly assaulted by his next-door neighbor in Bowling Green, Kent., 59-year-old Rene Boucher. The cause of the altercation is not yet known. Boucher, an anesthesiologist, has been charged with fourth-degree assault. One of Paul's aides said Sunday he does not know when Paul might be well enough to rejoin the Senate. "This type of injury is caused by high velocity severe force," Paul strategist Doug Stafford said in a statement. "It is not clear exactly how soon he will return to work, as the pain is considerable as is the difficulty in getting around, including flying."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.

  • 10/25/2017 10:54:34

    GlaxoSmithKline stock plummets 6% after concerns about dividend risk

    GlaxoSmithKline PLC shares plummeted 6% in extremely heavy midday trade Wednesday on concerns that the company's interest in Pfizer Inc.'s over-the-counter business could put its dividend at risk. After being asked if she could give investors assurances that the potential deal would carry no dividend risk, Chief Executive Emma Walmsley did not exactly give those assurances. "We know the dividend matters to our investors. We intend and we do pay it now as a function of our free cash flow after investing in the necessary priorities to secure long-term growth for the company," Walmsley said, according to the FactSet transcript of the company's third-quarter earnings call, adding, "we confirmed our intentions to pay the dividend in 2017 of 80 pence and again in 2018 and then we will be returning to declaring the dividend quarterly and not giving a more specific outlook beyond that." When Walmsley was again pressed about the potential Pfizer deal, she said it was "too premature and hypothetical." "For us, even though we believe pricing (mostly in Respiratory) and competitive concerns (Respiratory and HIV) are largely factored into the stock at current levels, investors remain focused on the safety of the dividend," said Leerink Partners analyst Seamus Fernandez. GlaxoSmithKline shares have dropped 9.5% over the last three months, compared with a 2.9% rise in the S&P 500 .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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