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Tech Data Corporation latest news:
FCC approves TV technology that gives better pictures but less privacy
The U.S. Federal Communications Commission voted 3-2 on Thursday to allow broadcasters to voluntarily use a new technology to improve picture quality and allow better reception on mobile phones and give advertisers dramatically more data about viewing habits.
BRIEF-Critical Outcome Technologies announces pharmacokinetic data from phase 1 dose escalation portion of COTI-2 trial
Critical Outcome Technologies Inc(COTQF). * Critical Outcome Technologies(COTQF) announces pharmacokinetic data from phase 1 dose escalation portion of COTI-2 trial in gynecological malignancies Source text for Eikon: Further company coverage:
Helios & Matheson is raising $100 mln in convertible notes to increase ownership in MoviePass
Shares of MoviePass-owner Helios & Matheson Analytics Inc. were up nearly 9% in premarket trade after the data and technology company said it would raise $100 million in convertible notes in order to increase its stake in MoviePass. The conversion price of the notes is $12.06 per share. The deal will allow Helios and Matheson to pay the remaining $5 million balance the company owes MoviePass after closing its previous securities purchase agreement back in August. The financing will also be used to pay MoviePass an additional $20 million to exercise its option to increase its investment in the movie theater subscription service. Canaccord Genuity served as the sole placement agent for the financing, and Palladium Capital Advisors acted as a financial advisor to Helios and Matheson in the financing. "This investment should allow us to further augment our data science capabilities and platform to respond to the needs of studios and exhibitors and their challenges in better understanding their customers," MoviePass Chief Executive Mitch Lowe said in a statement. MoviePass recently said its subscriber base has reached 600,000; up from 20,000 before its subscription price cut back in August. Shares of Helios and Matheson are up more than 192% in the year to date, while the S&P 500 index is up close to 16% and the Dow Jones Industrial Average is up more than 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.
Celgene shares drop after Crohn's disease drug trials halted
Celgene Corp. shares dropped in the extended session Thursday after the biotech company said it would discontinue two clinical trials for a Crohn's disease treatment and not start a third. Celgene shares fell 6.2% to $127.55 after hours, following a brief halt. Based on an analysis from a data monitoring committee assessing overall benefit and risk, Celgene said it would discontinue a late-stage clinical trial for the drug GED-0301 to treat Crohn's disease along with an extension trial. Crohn's disease is characterized by a chronic inflammation that can run the entirety of the digestive tract. Celgene said it will also not start a third late-stage clinical trial of the drug for Crohn's disease. 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.
White House chief of staff John Kelly's phone may have been compromised for months: report
White House chief of staff John Kelly's personal phone was believed to be compromised by hackers for months before being discovered, according to a Politico report late Thursday. White House tech support staff discovered the breach this summer, after Kelly complained his phone wasn't working properly, Politico said. The breach may have occurred as long ago as December, and potentially exposed data on his phone from not just the White House, but the Department of Homeland Security, where he was formerly secretary. Kelly became President Donald Trump's chief of staff in July. White House officials told Politico that Kelly had not used the phone much since joining the administration, relying mostly on a government-issued phone instead. In a separate report Wednesday, the Wall Street Journal reported that Russian hackers stole highly classified National Security Agency secrets in 2015 by using Kaspersky antivirus software to target an NSA contractor who had sensitive information on his home computer.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.
S&P 500 set to log longest streak of records in 20 years as stock market opens at all-time highs
U.S. stock benchmarks opened modestly higher on Thursday, but enough to book fresh records, as investors bought technology stocks, as investors pored over speeches from several Federal Reserve officials and a key employment report on Friday. The Dow Jones Industrial Average traded flat at 22,657, the S&P 500 index advanced 0.1% at 2,540. If the broad-market benchmark finishes with a record on Thursday it will market its longest string of all-time high closes, six consecutively, since 1997, according to WSJ Market Data Group.
Philadelphia Fed President Patrick Harker said he is expecting on additional rate hike in December, during a speech in Austin. Meanwhile, the Nasdaq Composite Index enjoyed the best opening bump, up 0.4% at 6,563. In corporate news, United Parcel Service Inc. fell 2.3%, while FedEx Corp. was down after Bloomberg reported that Amazon.com Inc. was testing a new delivery service. On Friday, the market will assess the Labor Department's nonfarm-payrolls report.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.
Uber’s path to win back London: data, fines and fees
(Reuters) - If history is a guide, Uber Technologies new Chief Executive Dara Khosrowshahi is likely to dangle data sharing and a promise to pay fines and fees when he sits down with London officials to negotiate the ride service's future in one of its most important markets.
Biotech Prothena shares fall after it scraps psoriasis trial
Shares of biotech Prothena Corp. Plc slid 3.3% Friday, after the company said it was scrapping a psoriasis treatment after a trial failed to show the effects the company was seeking. Dublin-based Prothena said the trial of PRX003 me its primary goal of targeting CD146, a melanoma cell adhesion molecule, but it failed to show "a well-defined relationship between biological activity and meaningful clinical effect," as the company was hoping. The trial involved 33 patients and the company has learned from it. But it will not be pushing for a Phase 2 trial, a move that will save it $30 million to $50 million, according to Instinet analyst Christopher Marai. "We expected that data from the small trial would be difficult to interpret and believe investor expectations for a positive read-out were low," he wrote in a note. "We would buy on any weakness following this update." Marai recommends owning the stock ahead of a year he expects will be filled with catalysts, including data from trials of NEOD001, an investigational treatment for AL amyloidosis, a disease that can affect the heart, kidneys, skin, nerves and liver. The analyst rates the stock a buy with an $87 price target, or 30% above its current trading level. Shares have gained 34% in 2017, while the S&P 500 has gained 12%. 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.
Applied Materials to buy back $3 billion in shares, sees $5.08 EPS by 2020
Shares of Applied Materials Inc. surged Wednesday on positive momentum in the chip sector and the chip materials company's long-term forecast and share buyback program. Applied Materials shares rallied 6.9% to $49.09, helped in part by Micron Technology Inc.'s strong forecast for memory chips, and are up 52% year to date. Applied Materials forecast adjusted earnings of $5.08 a share in fiscal 2020 as Internet-of-things applications, Big Data and artificial intelligence drive computing demand. For the current year, analysts surveyed by FactSet expect fiscal earnings of $3.21 a share. The company also announced a new $3 billion share repurchase program in addition to the $995 million that remains on an earlier program. 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.
Record number of S&P 500 companies have issued upbeat revenue guidance
The beginning of third-quarter earnings reporting season is still a few weeks away, but a record number of companies have already provided revenue guidance that was above expectations, according to Senior Earnings Analyst John Butters at FactSet. FactSet has been tracking guidance since 2006. Overall, 54 companies have issued positive revenue guidance, which is more than double the five-year average of 25, and above the first-quarter 2011 record of 45, Butters said. Over half (30) of the positive revenue guidance comes for the information technology sector, followed by 11 from the consumer discretionary sector and eight from health care, FactSet data shows. Since the end of the second quarter, the SPDR Technology Select Sector ETF has climbed 7.0%, the SPDR Consumer Discretionary Select Sector ETF has eased 0.1%, the SPDR Health Care Select Sector ETF has tacked on 3.0% and the S&P 500 has gained 3.3%.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.
Dow ends at record as stocks post mixed finish
U.S. equity indexes finished the day mixed, with the Dow Jones Industrial Average closing at a record, while the S&P 500 and the Nasdaq Composite slipped to lower levels. The Dow, helped by gains in the industrials and healthcare sectors, rose 0.2% to 22,207. The S&P 500, on the other hand, was dragged down by poor performances of healthcare and consumer discretionary stocks, finishing the day 0.1% lower at 2,496. The tech-heavy Nasdaq Composite fell 0.5% to 6,429. In individual stocks, Equifax fell 2.4% lower following the disclosure of a massive data breach last week. Home builder William Lyon Homes fell 5.8% as hedge fund Paulson&Co said it would divest its stake in the business.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.
Stocks finish mixed on hurricane and geopolitical risks
U.S. equity benchmarks ended Friday on a mixed note, with both the S&P 500 and the Nasdaq Composite in the red but the Dow Jones Industrial Average slightly higher as Hurricane Irma is set to make landfall in Florida over the weekend. Tensions with North Korea also weighed on investors' minds, as the market fears the country will test a ballistic missile to commemorate its founding on Saturday. The S&P 500 slipped 0.1% to 2,462 thanks to weaker energy stocks--down 0.6% on the week--while the tech-focused Nasdaq Composite Index weakened 0.7% to 6,357, down 1.2% on the week. The Dow finished the week more or less flat at 21,789, as strong gains in the financials sector outweighed losses in energy and information technology. On the week, the Dow dipped 0.9%. In individual stocks, Equifax Inc. shares plunged 13.7% following the news of a data breach affecting 143 million Americans' personal information, such as social security, drivers license and credit card numbers.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.
General Motors and Lululemon rise while Tech Data tumbles
General Motors, Lululemon Athletic and JPMorgan Chase gain ground while Tech Data slide
Tech Data shares drop on earnings miss, outlook
Tech Data Corp. shares dropped in the extended session Thursday after the tech products distributor's earnings and outlook fell short of Wall Street estimates. Tech Data shares fell 12% to $97.35 after hours. The company reported second-quarter net income of $47.5 million, or $1.24 a share, compared to $50.3 million, or $1.31 a share, in the year-ago period. Adjusted earnings were $1.74 a share. Revenue rose to $8.88 billion from $6.35 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $2.06 a share on revenue of $8.75 billion. For the third quarter, Tech Data estimates earnings of $1.84 to $2.04 a share on revenue of $9 billion to $9.35 billion. Analysts expect earnings of $2.22 a share on revenue of $8.66 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.
BRIEF-Tech Data signs distribution agreement for Propel Star Wars drones
* Agreement with Propel to distribute their limited
collector's edition Star Wars battle drones
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