Foreclosures | Mortgages | Financing
Special Counsel Robert Mueller has charged attorney Alex Van Der Zwaan with making false statements to the Federal Bureau of Investigation. Van Der Zwaan lied about his interactions with former Trump campaign aide Rick Gates in September 2016, according to the court documents.
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.
From:: Stock Market News
Women’s clothing line Guess Inc. said Tuesday that co-founder Paul Marciano will relinquish his daily duties while the company conducts an investigation into allegations of sexual harassment. Marciano has denied the allegations, made by model Kate Upton, who has worked for the brand for several years. The investigation is being carried out by law firm O’Melveny & Myers LLP. Guess “takes very seriously any allegations of sexual misconduct, is committed to maintaining a safe work environment, and looks forward to the completion of a thorough investigation of all the facts,” the company said. Shares were flat at the open, but have fallen 15% in the month since the allegations first surfaced, while the S&P 500 has fallen 3.5%.
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.
From:: Stock Market News
Gap Inc. shares slid 7% in premarket trade Tuesday, after the company said Gap brand Chief Executive and President Jeff Kirwan is leaving the company. A search for a replacement is under way. Brent Hyder, current Gap Inc. executive vice president, global talent and sustainability, will act as interim brand head. Hyder has served as chief operating officer at Gap brand, prior to taking on his current role. Gap shares have gained 36% in the last 12 months, while the S&P 500 has gained 16%.
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.
From:: Stock Market News
Gap Inc. shares slid 2.3% in premarket trade Tuesday, after the company said Gap brand President Jeff Kirwan is leaving the company. A search for a replacement is under way. Brent Hyder, current Gap Inc. executive vice president, global talent and sustainability, will act as interim brand head. Hyder has served as chief operating officer at Gap brand, prior to taking on his current role. Gap shares have gained 36% in the last 12 months, while the S&P 500 has gained 16%.
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.
From:: Stock Market News
Perrigo Co. PLC shares declined 1.2% in premarket trade Tuesday after the company said Bayer AG is suing it over a generic rosacea product after Perrigo filed for Food and Drug Administration approval for it. Bayer makes the branded product, Finacea Foam, which is approved for the raised spots and pimple-like bumps that are symptoms of mild to moderate rosacea. Finacea Foam, which is known to be expensive, brought in sales of $54 million last year. Bayer shares rose 0.2% in premarket trade. Perrigo shares have surged 5% over the last three months, while Bayer shares have dropped 3.7%, compared with a 5.8% 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.
From:: Stock Market News
Cracker Barrel Old Country Store Inc. reported fiscal second-quarter net income of $91.1 million, or $3.79 per share including a benefit $1.63 after the tax overhaul, up from $52.7 million, or $2.19 per share, for the same period last year. Adjusted EPS was $2.73. Revenue was $787.8 million, up from $772.7 million last year. The FactSet consensus was for EPS of $2.25 and revenue of $787.0 million. Same-restaurant sales fell 0.9% for the quarter and average check rose 2%. Same-store sales rose by 0.5%. The FactSet consensus was for same-restaurant sales growth of 1.7% and a same-retail sales decline of 1.3%. Cracker Barrel now expects fiscal 2018 EPS between $10.35 and $10.55 driven primarily by the tax law changes, and adjusted EPS between $9.30 and $9.50. Revenue is expected to be $3.1 billion. Same-restaurant sales are expected to grow 1% to 2%, and same-retail sales are expected to be flat. The FactSet consensus is for EPS of $9.07, sales of $3.0 billion, same-restaurant sales growth of 1.7%, and a same-retail sales decline of 0.7%. Cracker Barrel shares are indicating higher in Tuesday premarket trading, and shares are up 3% for the last year. The S&P 500 index is up 16.2% for the past 12 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.
From:: Stock Market News
MGM Resorts International reported net income of $1.4 billion, or $2.42 per share, up from $24.7 million, or 4 cents per share, for the same period last year. The number includes a non-cash income tax benefit of $2.52 after the tax overhaul. Revenue totaled $2.6 billion, up from $2.5 billion last year. The FactSet consensus was for EPS of 9 cents and revenue of $2.5 billion. Domestic same-store sales were flat compared with last year, with same-store table games increasing 4% and same-store slots falling 2%. MGM shares fell 3.5% in Tuesday premarket trading, but are up 29.6% for the last year. The S&P 500 index is up 16.2% for the last 12 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.
From:: Stock Market News
Domino’s Pizza Inc. shares fell nearly 2% in Tuesday premarket trading after the restaurant chain announced fourth-quarter revenue that missed estimates. Net income for the quarter totaled $93.3 million, or $2.09 per share, up from $72.7 million, or $1.48 per share, for the same period last year. Revenue was $891.5 million, up from $819.4 last year. The FactSet consensus was for EPS of $1.95 and sales of $905.0 million. Domestic same-store sales rose 4.2%, while the international division reported same-store sales growth of 2.5%. The FactSet consensus was for domestic same-store sales growth of 6% and international growth of 5.2%. Domino’s shares are up 17.5% for the last year, outpacing the S&P 500 index , which is up 16.2% 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.
From:: Stock Market News
General Mills Inc. announced Tuesday that it expects fiscal 2018 organic net sales to be at the high end of its previous range of flat-to-down 1%. The result would be in line with the previous year. The announcement was part of its growth plan, presented at the Consumer Analyst Group of New York (CAGNY) conference. The food company will focus on four key platforms for topline growth: snack bars, Häagen-Dazs ice cream, Old El Paso Mexican food and natural and organic food brands. Together, these platforms represented $4 billion in fiscal 2017 net sales, a quarter of worldwide net sales. The company will also focus on net product innovation and marketing, e-commerce, and rethink its portfolio. That includes divesting businesses that hinder growth, with the possible candidates totaling about 5% of company sales. Potential acquisitions will tick off three criteria: work with existing categories in North America and Europe, build scale in emerging markets like China and Brazil, and leveraging existing capabilities and create value. General Mills shares are down 4.7% for the last 12 months while the S&P 500 index is up 16.2% 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.
From:: Stock Market News
Walmart Inc. shares dropped in premarket trade Tuesday, with per-share adjusted earnings from the retail heavyweight missing Wall Street’s target. Fourth-quarter adjusted earnings came in at $1.33 a share, below the $1.37 per-share projection in a FactSet poll of analysts. Net earnings were $2.18 billion, or 73 cents a share, compared with $3.76 billion, or $1.22 a share, a year earlier. Quarterly sales were ahead of expectations. Total revenue rose to $136.3 billion from $129.75 billion a year ago, surpassing FactSet’s estimate of $134.91 billion. U.S. same-store sales increased by 2.6% compared with a 1.8% gain a year ago. Walmart shares fell 4% after the report, ahead of Tuesday’s opening bell.
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.
From:: Stock Market News