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Shares of Advanced Disposal Services , a waste collection company, were trading at $19.93, above the company’s $18 issue price, in the stock’s debut on the New York Stock Exchange Thursday. Advanced Disposal sold 19.25 million shares to raise $346.5 million. The company said it will use the proceeds to repay oustanding borrowings. Deutsche Bank Securities, Credit Suisse Securities and Barclays Capital acted as the lead underwriters.

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From:: Stock Market News

As Twitter Inc. reportedly considers a sale, Chief Executive Jack Dorsey’s other company, Square Inc. , appears to be improving, according to Pacific Crest analysts. The analysts said Thursday they believe Square Capital, the company’s lending service, will not be affected by regulation in the short term and institutional investors have a positive view of the lending model. The analysts are expecting an earnings beat in the third quarter, with a small guidance raise for the fourth quarter. But the analysts lowered third and fourth quarter revenue estimates, based on Square Capital revenue yield and seasonality. The analysts remained sector weight and see a $12 to $13 fair value. Shares of Square have gained 27% in the past three months, compared to the S&P 500’s gain of 2.6%.

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From:: Stock Market News

U.S. stocks on Thursday began trade lower as crude-oil futures headed above $50 a barrel and as investors awaited a closely watched employment report due Friday. Ahead of that labor-market statistic, claims data showed that the number of people seeking unemployment benefits fell by 5,000 to 249,000 at the end of September–offering more signs of health in the jobs market. The S&P 500 index slipped 6 points, or 0.3%, to 2,153, the Dow Jones Industrial Average fell 84 points, or 0.5%, at 18,200, and the Nasdaq Composite Index gave up 19 points, or 0.4%, to 5,296. Energy-sector stocks benefited from what has been a steady climb, with West Texas Intermediate crude oil trading on the New York Mercantile Exchange rising 1.2% at $50.40 a barrel. And the yield on the benchmark 10-year note was trading at 1.74%–its highest in about three weeks. In corporate news, Twitter Inc. headed lower after reports indicated that some likely bidders for the micro-blogging site, including Google Inc. parent Alphabet Inc. won’t make a bid to acquire the tech outfit.

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From:: Stock Market News

Ingersoll-Rand PLC. on Thursday said it will increase its quarterly dividend 25% to 40 cents per share. The dividend is payable Dec. 30, to shareholders of record on Dec. 9. Shares of Ingersoll-Rand, trading at $67.56 as of Wednesday’s close, were inactive in premarket on Thursday, but are up more than 22% in the year to date and nearly 27% in the last 12 months. Ingersoll-Rand shares are so far this year outperforming the S&P 500 Index , which is up more than 5%.

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From:: Stock Market News

Alnylam Pharmaceuticals Inc. shares dropped 45.1% in premarket trade Thursday, in the day’s biggest premarket decline, after the biotech said it was discontinuing development of its drug for a rare hereditary disease after 18 patient deaths in a clinical trial. The decision was prompted by reports that patients taking the revusiran drug in midstage trials had new or worsening complications of the disease, the company said. Revusiran was in development for hereditary ATTR amyloidosis with cardiomyopathy, which is progressively debilitating and often fatal. Discontinuing the drug’s development “is disappointing given the lack of available treatment options for patients suffering from this devastating disease,” Alnylam’s chief executive officer, John Maraganore, said. Alnylam shares rose 16.3% over the last three months, compared with a 2.9% rise in the S&P 500 .

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From:: Stock Market News

American Express Co.’s stock shed 1.7% in premarket trade Thursday, after Nomura turned bearish on the payments and travel services company, citing expectations that third-quarter results will disappoint. Analyst Bill Carcache downgraded AmEx to a rare reduce rating from neutral, and cut his stock price target to $56, which is 13% below current levels, from $62. Only 6% of the companies covered by Nomura have reduce ratings. AmEx’s third-quarter report will be the first since it ended its exclusive co-branded card relationship with Costco Wholesale Corp. . “We believe the consensus is underestimating the amount of net interest income that [AmEx] will lose with the sale of the Costco portfolio and expect a revenue miss when the company reports 3Q16 results,” Carcache wrote in a note to clients. “Layer in what we expect will be a fourth year of market share losses in U.S. billings and growing concerns about business model risk, and we’re left with what we view as a recipe for underperformance.” The stock had dropped 7.5% year to date through Wednesday, while the Dow Jones Industrial Average has gained 4.9%.

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Shares of Smith & Wesson Holding Corp. slumped 3.4% in premarket trade Thursday, after the gun maker was downgraded at Wunderlich Securities, which cited signs of weakening consumer demand. Analyst Rommel Dionisio cut his rating to hold, after being at buy for at least the last two years, and slashed his stock price target to $29 from $36. Dionisio said after two sharp spikes in demand for guns, following the terrorism-related incidents in San Bernadino, Calif. and in Paris, federal background checks data has “decelerated meaningfully” in August and September, suggesting checks trends could turn negative in coming months. In addition, recent unseasonably warm weather has led to lower interest in hunting-related products, which should hurt Smith & Wesson’s long gun business. As a result, Dionisio expects promotional activity to increase, which could cut into profit margins. The elimination from a military handgun contract is also a concern. The stock had run up 19% year to date through Wednesday, while the S&P 500 had gained 5.7%.

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Hurricane Matthew is expected to strengthen from a category 3 storm to a category 4 storm as it churns toward the east coast of the Florida peninsula later Thursday and through Friday night, the National Hurricane Center warned in its latest advisory. The storm currently has maximum sustained winds of 125 miles an hour and its outer rainbands are already approaching Florida, said the NHC. A hurricane warning is in effect for the central and northwestern Bahamas, as well as north of Golden Beach Florida to Altamaha Sound Georgia and north to South Santee River South Carolina. “Hurricane conditions are expected to first reach the hurricane
warning area in Florida by late today and will spread northward
within the warning area through Friday,” said the advisory. “Tropical storm conditions are first expected in Florida by late this morning.”

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From:: Stock Market News

Shares of Wal-Mart Stores Inc. shed 0.9% in premarket trade Thursday, after the discount retail giant affirmed its earnings per share outlook for the current fiscal year ending January 2017, but provided a downbeat outlook for next year. The company said it still expects adjusted EPS of $4.15 to $4.35, compared with the FactSet consensus of $4.34. Wal-Mart expects fiscal 2018 EPS based on generally accepted accounting principles (GAAP) to be “relatively flat” with its adjusted EPS outlook for fiscal 2017, while the FactSet consensus for next year’s adjusted EPS calls for a rise to $4.46. Fiscal 2019 EPS is expected to rise 5%. Wal-Mart said it has $11.7 billion remaining in its $20 billion stock repurchase program that started in October 2015, and expects the program to be completed by the end of fiscal 2018. Capital expenditures for fiscal 2018 at expected to be $11 billion, with total new Walmart U.S. store openings expected to decline 55 from a projected 130 in fiscal 2017. The stock has soared 17% year to date through Wednesday, while the SPDR S&P Retail ETF has gained 1.7% and the S&P 500 has run up 5.7%.

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From:: Stock Market News

Monster Worldwide Inc. said Thursday it expects third-quarter revenue to fall about 14% as it grapples with pressure on its core product offering and weak bookings. The recruitment company said it expects revenue to range from $143 million to $145 million vs. $167.1 million a year ago. The current FactSet consensus is for third-quarter revenue of $153 million. “While we are gaining traction in North America as a result of our new product initiatives and pay per click business, the continued pressure on our core traditional product offerings combined with the weakness in bookings in prior quarters has resulted in a decline in third quarter 2016 revenue in North America of 16% on a year over year basis,” Chief Executive Tim Yates said in a statement. The company, which is being acquired by Randstad for $3.40 a share in cash, is expecting to report third-quarter earnings on Oct. 21. The Randstad deal is expected to close during the fourth quarter. Shares were inactive premarket, but are down 39% in the year so far, while the S&P 500 has gained about 6%.

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