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Shares of retailers were knocked lower in premarket trade Wednesday, after January data showed a surprise decline in retail sales. The SPDR Consumer Discretionary Select Sector ETF shed 0.9%, after trading up about 0.1% before the data was released, at 8:30 a.m. ET. Among the ETF’s most heavily-weighted components, shares of Amazon.com Inc. dropped 0.9%, reversing a pre-data gain of about 0.7% and Home Depot Inc.’s stock went from a gain of 0.6% to loss of 1.2% after the data. Elsewhere, WalMart Inc. shares went from a gain of 0.4% to a loss of 0.7% and Target Corp.’s stock rose 0.2%, but pared a pre-data gain of 1.5%. Meanwhile, S&P 500 futures went from a gain of about 13.5 ponits to a decline of 28.7 points.

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The U.S. dollar rallied higher after stronger January consumer price inflation data on Wednesday. Headline CPI rose 0.5% in January, compared with a forecast of 0.4%. Core CPI stood at 0.3%, versus a 0.2% consensus estimate. On the year, the headline index was up 2.1%, while the core figure, which strips out more volatile items such as energy, held back at 0.5%. The inflation indicator is seen as particularly important this time, as it will set the tone for the Federal Reserve’s efforts to normalize its lose monetary policy this year. The central bank is expected to raise interest rates three times in 2018 so far, although some analysts already upped their forecasts to four rate hikes this year even head of Wednesday’s inflation reading. The ICE U.S. Dollar Index briefly rallied above the 90-mark from being marginally negative ahead of the data, and last changed hands at 89.978, up 0.3%. The buck strengthened against the majority of its main rivals, with the notable exception of the Japanese yen , against which it fell 0.6% to buy ￥107.13, after falling below the psychologically important ￥108-mark on Tuesday.

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Shares of ad-tech company Criteo S.A. rose 24% in premarket trading Wednesday after the company reported better-than-expected financial results for the December quarter and delivered a strong outlook. Criteo’s net income attributable to shareholders rose to $53 million or 78 cents per share, from $41 million or 60 cents a year ago. On an adjusted basis, net income grew to $82 million from $55 million. Earnings per share of $1.21 rose from 84 cents in the year-earlier period and came in ahead of analysts’ expectations for 93 cents. Revenue excluding traffic-acquisition costs increased to $277 million from $225 million. The company said it expects first-quarter revenue to be between $230 million and $235 million, excluding traffic-acquisition costs, ahead of consensus expectations for $205 million. “I’m confident our expanding commerce marketing ecosystem positions us well for future growth in 2018 and beyond,” CEO Eric Eichmann said on Criteo’s earnings call. As of Tuesday’s close, Criteo shares were down 49% over the past 12 months, after getting hammered late last year in response to changes Apple Inc. made to its privacy settings on the Safari mobile browser. The S&P 500 Index has gained 14% over the last year.

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Gold futures early Wednesday turned lower following a key reading of inflation, putting the yellow metal on pace to snap a string of three gains in a row. The consumer-price index jumped 0.5% in January, with core inflation readings showing an increase of 0.3% for the month, exceeding economists forecasts. April gold fell $6.90, or 0.5%, at $1,323 an ounce. The move comes as the closely watched ICE U.S. Dollar Index popped higher, up 0.4% at 90.05. Risk assets retreated, meanwhile, with futures for the Dow Jones Industrial Average and the S&P 500 index pointed to a lower opening trade for those benchmarks , as the 10-year Treasury yield rose to 2.87%. Precious metals, which are often pegged to dollars, tend to rise when the buck weakens because a falling dollar can make buying those assets cheaper for investors using weaker monetary units. Rising yields, in theory, should detract from appetite for gold because precious metals don’t bear a yield. However, rising inflation could provide a lift for gold over the short term because it is often viewed as a hedge against rising prices.

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Groupon Inc. shares sank 4.8% in Wednesday premarket trading after the company reported a fourth-quarter earnings miss. Net income totaled $47.7 million, or 8 cents per share, compared with a loss of $52.6 million or 9 cents per share, year-over-year. Adjusted EPS was 7 cents. Revenue totaled $873.2 million, down from $904.9 million last year. The FactSet consensus was for EPS of 9 cents and sales of $853.0 million. North America added 200,000 new active customers, bringing the total to 32.7 million as of Dec. 31, 2017. Active customers have made at least one purchase through one or more marketplaces or with a merchant in the last 12 months. International active customers also rose 200,000 to 16.8 million. For the full year Groupon expects adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of between $260 million and $270 million. FactSet consensus is $277 million. Groupon shares are up 37.6% for the last 12 months while the S&P 500 index is up 14% for the period.

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From:: Stock Market News

U.S. stock-index futures turned firmly lower on Wednesday, after the January consumer-price index came in stronger than expected. The Dow Jones Industrial Average futures sank 298 points, or 1.2%, to 24,330, while S&P 500 futures stumbled by 30 points, or 1.2%, to 2,629. Nasdaq-100 futures retreated 85 points, or 1.3%, to 6,474. Futures had been firmly higher ahead of the inflation reading. In the data, the consumer-price index rose 0.5%, slightly ahead of the 0.4% gain that had been expected. The core CPI rose 0.3%, while the 12-month gain in total CPI was unchanged at 2.1%. The CPI has taken on outsize importance over the past week, as it represents the first real read on inflation ever since a report on wage growth earlier this month. That report, which showed wages growing at their fastest pace in years, sparked a decline in the stock market that took the Dow and S&P 500 into correction territory. Investors have been concerned that rising inflation could push the Federal Reserve to be more aggressive in raising interest rates, a concern the CPI report could help assuage, as it is significantly below the 2% target the U.S. central bank has for inflation. Stocks have also been pressured by a rise in bond yields of late. Following the CPI report, the yield on the 10-year Treasury note was at 2.88%.

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SodaStream International Ltd. shares are up 9.4% in Wednesday trading after the company reported fourth-quarter earnings and revenue that beat consensus. Net income totaled $25.5 million, or $1.13 per share, up from $15.6 million, or 71 cents per share, for the same period last year. Revenue totaled $157.7 million, up from $131.8 million year-over-year. The FactSet consensus was for EPS of 80 cents and sales of $152.0 million. Sales rose across all geographies except Eastern Europe, Middle East and Africa, where sales decreased to $5.8 million from $6.0 million. Germany, Canada, Australia and the U.S. were sales drivers. SodaStream expects full-year revenue to increase 12% from the 2017 total of $543.4 million. EPS is expected to increase 5% year-over-year from $3.29 in 2017. SodaStream shares are up 66% for the last 12 months while the S&P 500 index is up 14% for the period.

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Celgene Corp. said Wednesday its board has approved an additional $5 billion share buyback. Shares rose 1.1% premarket, but are down 21% in the last 12 months, while the S&P 500 has gained 14%.

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Shares of Facebook Inc. rallied 0.9% in premarket trade Wednesday, after MKM Partners analyst Rob Sanderson doubled-down on his bullish stance, suggesting investors be “aggressive buyers” of the stock given historic low valuation and conservative expectations. He reiterated his buy rating and stock price target of $240, which is 29% above Tuesday’s closing price of $173.15. “We find [Facebook] shares highly attractive while investors debate the impact of an expected decline in engagement, revenue growth deceleration and an elevated spending outlook,” Sanderson wrote in a note to clients. The stock has declined 7.4% since Facebook reported after the Jan. 31 close fourth-quarter profit and revenue that beat expectations, while the S&P 500 has lost 5.7% over the same time. Sanderson said the stock is set up for an “excellent” 2018, as the messaging monetization ramp progresses and as the price-to-earnings ratio is at an all-time low. The stock has rallied 29% over the past 12 months while the S&P 500 has gained 14%.

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Bristol-Myers Squibb Co. and Nektar Therapeutics said Wednesday they have agreed to collaborate on developing NKTR-214 plus Opdivo to treat numerous tumors, based on positive early results from a Phase 1/2 clinical study. NKTR-214 is Nektar’s lead immuno-oncology program, while Opdivo is a Bristol-Myer anti-cancer agent that is already approved as a treatment. The companies will study NKTR-214 with Opdivo and Opdivo plus Yervoy, another anti-cancer agent, in treating melanoma, renal cell carcinoma, non-small cell lung cancer, bladder and triple negative breast cancer. Under the terms of the agreement, Bristol-Myers will pay Nektar $1.85 billion in cash and stock upfront with Nektar eligible for up to $1.78 billion in milestone payments. The companies will split global profits 65% to 35% in Nektar’s favor, while Bristol-Myers will retain 100% of product revenue for its own medicines. Bristol-Myers is expecting the deal to shave 2 cents off adjusted 2018 per-share earnings and 10 cents off adjusted 2019 EPS. Nektar shares dipped 1.5% premarket, but have gained 465% in the last 12 months. Bristol-Myers shares were not yet active, but have gained 19% in the last 12 months, while the S&P 500 has gained 14%.

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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From:: Stock Market News