Month: September 2015

Five Below Inc. said Wednesday it earned $7.1 million, or 13 cents a share, in the fiscal second quarter, compared with 15 cents a share a year ago. Revenue rose 19.5% to $182.2 million in the quarter, while comparable-store sales rose 3%. The company opened 32 new stores in the quarter to end it with 417 stores, or 18% more than a year ago. Analysts polled by FactSet had expected the teen-oriented retailer to report earnings of 13 cents a share on sales of $185 million. Shares of Five Below dropped as much as 12% in after-hours trading after ending the regular session up 1.4%.

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.

…read more

From:: Stock Market News

Planet Fitness Inc. shares rose 4% after hours Wednesday after the company beat second-quarter earnings expectations in its first report as a public company. The company reported net income of $11.5 million, above $8.8 million in the year-earlier period. It reported adjusted earnings per share of 13 cents, above the FactSet consensus of 12 cents. Planet Fitness reported revenue of $79 million, above the FactSet consensus of $77.1 million and above $62.7 million in the year-earlier period. The company said it added 38 new Planet Fitness stores in the quarter, which brought the number of stores to 1,014 as of June 30.

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.

…read more

From:: Stock Market News

U.S. stocks rebounded from a two-day rout, with major indexes ending Wednesday’s session with solid gains. Investors welcomed upbeat tone in the Federal Reserve’s Beige book, while data on private-sector job gains pointed to continued improvement in the labor market. Trading on Wall Street remained volatile, however. The S&P 500 closed 35.01 points, or 1.8% higher to 1,948.86. The Dow Jones Industrial Average jumped 293.10 points, or 1.8%, to 16,351.45. The Nasdaq Composite ended the day up 113.87 points, or 2.5% at 4,749.98.

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.

…read more

From:: Stock Market News

Dollar Tree Inc. was downgraded to buy from strong buy at Feltl & Company. The firm cited increased investor uncertainty following a lack of guidance after Dollar Tree’s acquisition of Family Dollar in its note. Dollar Tree provided estimated net sales for the third quarter (from $4.78 billion to $4.87 billion) and the full year (from rom $15.30 billion to $15.52 billion) but not earnings per share. The firm is also lowering its price target to $81.25 from $87.08. The firm’s estimate for earnings per share have been lowered to $2.59 for the year from $3.54. And the same-store sales estimate had been lowered to near 2% from just below 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.

…read more

From:: Stock Market News

Oil futures staged an intraday U-turn on Wednesday to settle higher after earlier dip below $44 a barrel. Analysts attributed the turn higher to the market digging deeper into the details of the latest U.S. supply data as well as to technical trading. Phil Flynn, senior market analyst at Price Futures Group, pointed out increasing tensions linked to Artic oil supplies. Gains for oil prices also intensified after the release of the Federal Reserve’s Beige Book. October oil settled at $46.25 a barrel on the New York Mercantile Exchange, up 84 cents, or 1.9%.

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.

…read more

From:: Stock Market News

U.S. stocks held on to gains on Wednesday even after the Federal Reserve’s Beige Book suggested increasing wage pressure. The S&P 500 rose 20 points, or 1%, to 1,933 while the Dow Jones Industrial Average climbed 193 points, or 1.2%, to 16,250. Wage pressures could push Fed officials to view an interest-rate hike more favorably as it could contribute to accelerating inflation.

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.

…read more

From:: Stock Market News

WASHINGTON ( MarketWatch) – The Federal Reserve’s Beige Book indicated growing wage pressure in the U.S. economy, a development that could impact the central bank’s deliberations at the upcoming September interest-rate-setting meeting. The report said that “several” of the 12 district banks “reported increasing wage pressures caused by labor market tightening.” Earlier Beige Book reports this year have found only higher pay in isolated sectors and other labor market data has shown no sign of higher wage pressure so far this year. Wage pressures could give Fed officials more confidence that inflation may move higher, a key condition to any rate hike. Overall, the report was optimistic about activity, echoing the tone of the prior report earlier in the summer. There were some more mixed views underneath the surface due to the stronger dollar and sharp drop in the price of oil. The slowdown in China was a factor in reducing demand in businesses in three districts.

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.

…read more

From:: Stock Market News

Republic Airways Holdings Inc.’s stock plunged 15% in active trade Wednesday afternoon, after Cowen and Co. downgraded the regional air carrier on concerns that the failure to reach an agreement with its pilots union increases the odds of a bankruptcy filing. Helane Becker cut her rating to underperform from market perform. She slashed her stock price target to $1, which is 63% below current levels, from $5. When the company provided its “Last, Best and Final Offer” to its pilots union last month, it said the failure to reach an agreement would lead to a “restructuring in which we no longer control our destiny.” Becker said after the International Brotherhood of Teamsters decided not to allow Republic’s pilots to vote on the company’s offer, she believes the only option for Republic is to renegotiate its contracts with its airline partners, which include American Airlines , Delta Air Lines and United Continential , “and the only way to do that may be through the courts.” The stock has plummeted 76% over the past three months, while the NYSE Arca Airline Index has dropped 12% and the S&P 500 has lost 8.2%.

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.

…read more

From:: Stock Market News

Hasbro Inc.’s stock surged 2.7% in midday trade Wednesday, after the toy maker was upgraded at Piper Jaffray analyst Stephanie Wissink, who said the recent price weakness has provided investors an opportunity to buy ahead of the unveiling of Star Wars toys on Friday. Wissink raised her rating to overweight from neutral, and set a stock price target of $85, which is 14% above current levels. Through Tuesday, the stock had lost 13% since the July 20 record close of $83.15, compared with the S&P 500’s 10% drop. Walt Disney is making toys associated with the upcoming “Star Wars: The Force Awakens” film available for sale at major retailers on Sept. 4. “Preliminary indications are positive, and we think [Hasbro] shares will trade increasingly on channel chatter surrounding Star Wars,” Wissink wrote in a note to clients. She said the recent selloff in the stock has created a “favorable near-term entry point” as the buzz and momentum that is likely to follow the Star Wars toy launch could last for several weeks.

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.

…read more

From:: Stock Market News

By Anthony Noto

“Who in his right mind will invest $30,000 on top of $900,000 in a dying business?” one reader wrote to the New York Business Journal, claiming that “Taxi of Tomorrow” does little to improve the dismal state of the medallion business.

This might seem rhetorical, but given a new report warning about impending loan delinquencies for New York City taxi medallions, the reader actually raises a valid question. The $30,000 is the approximate cost for the Nissan model that, as of this week, is now the… …read more

From:: biz journal foreclosures