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Oil futures dropped in electronic trading Tuesday after the American Petroleum Institute reported a 9.3 million-barrel climb in U.S. crude supplies for the week ended Oct. 28, according to sources. Analysts polled by S&P Global Platts forecast an increase of 1.9 million barrels in stockpiles. Supply data from the Energy Information Administration will be released Wednesday. December crude was at $46.33 a barrel in electronic trading, down from the contract’s settlement of $46.67 on the New York Mercantile Exchange.

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From:: Stock Market News

Shares of Etsy Inc. swung in an out of the red late Tuesday after the online marketplace company reported revenue above Wall Street expectations and said its chief financial officer will leave next year. Etsy said it lost $2.4 million, or 2 cents a share, in the third quarter, compared with $6.9 million, or 6 cents a share, in the year-ago period. Adjusted for one-time items, Etsy earned $13 million in the quarter. Revenue reached $87.6 million in the quarter, up from $65.7 million a year ago. Analysts polled by FactSet had expected a GAAP loss of 2 cents a share and flat adjusted per-share earnings on sales of $86.8 million. In the same statement, Etsy said CFO Kristina Salen has decided to leave the company in March. The company will launch a search for its next CFO immediately, it said. Shares of Etsy had ended the regular trading day down 0.2% and were most recently up 0.4%.

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.

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From:: Stock Market News

Microsoft Corp. on Tuesday said that hackers associated with the Russian government are responsible for cyber attacks that exploited a flaw in its Windows operating system, Reuters reported. Microsoft is planning to make a patch available on Nov. 8 that will fix the problem, the news service said. The security issue was made public by Google Inc. on Monday after Microsoft apparently failed to respond to a previous notice made in private. Microsoft shares were flat after hours.

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

Herbalife Ltd. shares fell in the extended session Tuesday despite better-than-expected quarterly earnings, and the nutritional-supplements company announced its next chief executive. Herbalife reported quarterly net income of $87.7 million, or $1.01 a share, on sales of $1.1 billion. After adjustments for “expenses incurred responding to attacks on the company’s business model” and other factors, Herbalife reported profit of $1.21 a share. Analysts on average expected Herbalife to report adjusted earnings of $1.09 a share on sales of $1.14 billion. Herbalife also detailed its CEO succession plan, announcing that COO Richard Goudis will take over the top spot on June 1, succeeding Michael Johnson, who will become executive chairman. Goudis was CFO for Herbalife from 2004 to 2009 and has been the company’s operating chief since 2010. Herbalife has been the focus of attention for some of Wall Street’s biggest names in recent history, with activist investor Carl Icahn taking a large stake in the company while rival Bill Ackman heavily shorts the stock and refers to it as a “pyramid scheme.” Herbalife shares fell about 2% in late trading after declining 2.6% in the regular session.

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

Tableau Software Inc. shares dropped in the extended session Tuesday after the visual data analytics company’s revenue fell short of Wall Street estimates while topping those for earnings. Tableau shares dropped 14% to $42.45 after hours. The company reported adjusted third-quarter earnings of 16 cents a share on revenue of $206.1 million. Analysts surveyed by FactSet had forecast earnings of 7 cents a share on revenue of $213.8 million.

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

Shares of Etsy Inc. swung in an out of the red late Tuesday after the online marketplace company reported revenue below Wall Street expectations and said its chief financial officer will leave next year. Etsy said it lost $2.4 million, or 2 cents a share, in the third quarter, compared with $6.9 million, or 6 cents a share, in the year-ago period. Adjusted for one-time items, Etsy earned $13 million in the quarter. Revenue reached $87.6 million in the quarter, up from $65.7 million a year ago. Analysts polled by FactSet had expected a GAAP loss of 2 cents a share and flat adjusted per-share earnings on sales of $86.8 million. In the same statement, Etsy said CFO Kristina Salen has decided to leave the company in March. The company will launch a search for its next CFO immediately, it said. Shares of Etsy had ended the regular trading day down 0.2% and were most recently up 0.4%.

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