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Shares of Ford Motor Co. slumped 1.1% in premarket trade, after the auto maker reported a sharp decline in sales during October, with all vehicle types showing weakness. Total sales dropped 11.7% to 188,813 vehicles, with trucks declining 2.2% to 83,722 vehicles, sport-utility vehicles falling 9.4% to 60,166 and cars plunging 27.5% to 44,925. By brand, Ford sales dropped 12.5% while Lincoln sales increased 6.9%. Within the Ford brand, Fusion model sales fell 21.0%, Focus declined 43.0% and Taurus dropped 18.4%. Within trucks, F-Series sales inched up 0.1% and Transit increased 9.0%, while Transit Connect tumbled 61.5%. The stock has tumbled 18% year to date through Tuesday, while rival General Motors Co. shares have lost 7.4% and the S&P 500 has gained 3.3%.

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From:: Stock Market News

Shares of Kroger Co. surged 2.1% premarket trade Wednesday, after the supermarket chain confirmed its full fiscal year outlook ahead of its investment conference. The company disclosed in a regulatory filing that it expects adjusted earnings per share of $2.10 to $2.20, compared with the FactSet consensus of $2.13. Same-supermarket sales are expected to grow 1.4% to 1.8% for the year, also surrounding the FactSet consensus of a 1.6% rise. Kroger expects product cost inflation, excluding fuel, is expected to continue through early 2017. Regarding company-sponsored pension plans, the company expects expenses of about $80 million, and doesn’t expect to make a cash contribution this year. For multi-employer pension funds, Kroger expects to contribute about $260 million this year. The stock has tumbled 26% year to date through Tuesday, while SPDR Consumer Staples Select Sector ETF has tacked on 4.1% and the S&P 500 has gained 3.3%.

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From:: Stock Market News

WASHINGTON (MarketWatch) — The Treasury Department will auction $62 billion in notes and bonds next week in its quarterly refunding auctions, the same size refunding as the prior quarter, the government said Wednesday The department announced it will auction $24 billion in 3-year notes and $23 billion in 10-year notes . The government will also sell $15 billion in 30-year bonds . The department said it intends to maintain coupon issuance sizes at current levels over the current quarter. The offerings will refund about $58.5 billion of Treasury notes and raise $3.5 billion in new cash.

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From:: Stock Market News

Shares of Yelp jumped 10% in premarket trade Wednesday after beating third-quarter expectations with a surprise profit. The company reported net income of $2.1 million, or 2 cents per share, compared to a net loss of $8.1 million, or a loss of 11 cents per share in the year-earlier period. It reported adjusted earnings per share of 22 cents, compared to the FactSet consensus of a loss of 3 cents. It reported revenue of $186 million, up from $143 million in the year-earlier period and above the FactSet consensus of $183 million. For the fourth quarter the company expects net revenue of $191 million to $195 million and for the full year it expects net revenue of $709 million to $713 million. It expects a restructuring charge of $2 million to $4 million in the fourth quarter after winding down sales and marketing outside the U.S. and Canada, resulting in the laying off of up to 175 employees. Shares of Yelp have gained 3% in the past three months, compared to the S&P 500’s loss of 2%.

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From:: Stock Market News

Time Warner Inc. shares rose as much as 2.4% in premarket trade on Wednesday after the media and entertainment company reported third-quarter profit and revenue that were above Wall Street expectations. Time Warner reported net income of $1.47 billion, or $1.87 per share for the quarter, compared with $1.04 billion, or $1.26 per share during the same period a year ago. Adjusted earnings per share came in at $1.83, blowing past FactSet’s $1.37 consensus. Revenue for the quarter hit $7.17 billion, up from $6.56 billion during last year’s third quarter and above FactSet’s consensus of $7.01 billion. Time Warner’s network segment provided the lion’s share of revenue, increasing 9% to $2.61 billion, with advertising revenues up 2% thanks to Turner’s news business. The company said higher domestic rates and growth at Turner’s international networks helped boost subscription revenues, though that was partially offset by lower subscriber numbers domestically. Revenue at HBO rose 4%, and revenue at Warner Bros. film division rose 7%. Time Warner, which is currently navigating a proposed merger with AT&T Inc. , has seen shares climb more than 36% in the year to date, outperforming the S&P 500 Index , which is up 3%.

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From:: Stock Market News

Estee Lauder Cos. Inc. said Wednesday it had net income of $294 million, or 79 cents a share, in its fiscal first quarter, down from $309 million, or 82 cents a share, in the year-earlier period. Adjusted per-share earnings came to 84 cents, ahead of the FactSet consensus of 80 cents. Sales rose 1% to $2.87 billion from $2.83 billion, compared with a FactSet consensus of $2.89 billion. Chief Executive Fabrizio Freda said small to mid-sized brands were strong contributors to sales, along with the travel retail channel and many developed and emerging markets. “As expected, this growth was partially offset by continued macro challenges, a decline in retail traffic in U.S. mid-tier department stores, the results of the slowdown in the Middle East, continued softness in Hong Kong, and difficult comparisons with the prior year in the United States and France,” he said in a statement. The cosmetics company is still expecting full-year EPS to grow 8% to 10% before charges. Shares were not yet active in premarket trade, but are down 2% in the year so far, while 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.

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From:: Stock Market News