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CBS Corp. and Viacom Inc. said on Thursday that they have each set up special committees to evaluate a potential recombination. Shares of Viacom were down 1.5% after hours, while CBS shares were down less than 1%. “There can be no assurances that this process will result in a transaction or on what terms any transaction may occur. Neither CBS nor the committee intends to comment further, until the process is completed,” the company said in a news release. Viacom released an identical statement shortly after, save for the name of the company. The move comes as Shari Redstone, vice-chair of both CBS and Viacom, has pushed for the two companies to merge. The Wall Street Journal reported in January that Redstone wanted new members on the CBS board to spark new merger talks with Viacom. Shares of Viacom are down more than 20% in the last 12 months and CBS shares are down nearly 9%. By comparison the S&P 500 index is up roughly 24% and the Dow Jones Industrial Average is up more than 31%.

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From:: Stock Market News

Athenahealth Inc. shares rallied in the extended session Thursday after the medical records and hospital services company topped Wall Street forecasts. Athenahealth shares surged 16% to $145 after hours. The company reported fourth-quarter net income of $31.6 million, or 78 cents a share, compared with $9.8 million, or 24 cents a share, in the year-ago period. Adjusted earnings were $1.11 a share. Revenue rose to $329.2 million from $288.2 million in the year-ago period. Analysts surveyed by FactSet had estimated 63 cents a share on revenue of $320 million.

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From:: Stock Market News

Apple Inc. shares are down 0.9% in the aftermarket after the company delivered a lower-than-expected outlook for its March quarter but beat earnings and revenue estimates for its holiday quarter. Apple reported net income of $20.1 billion, up from $17.9 billion a year ago, as well as earnings per share of $3.89, up from $3.36 a year earlier. That exceeded FactSet consensus estimates calling for $19.7 billion and $3.85, respectively. The company’s revenue grew to $88.3 billion for the quarter from $78.6 billion and ahead of expectations for $87.5 billion. Apple sold 77.3 million iPhones during the period, down from 78.3 million in the prior holiday quarter. Revenue in the company’s China business grew 11%, to $18 billion. The company said it expected March-quarter revenue of between $60 billion to $62 billion, which came in below analysts’ expectations for $65.4 billion. “We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,” Apple CEO Tim Cook said in a release. “IPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.” Apple shares are up 30% over the past 12 months, while the Dow Jones Industrial Average , of which Apple is a component, has risen 32%.

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Deckers Outdoor Corp. shares jumped 7.7% in Thursday after-hours trading after the footwear and accessories company reported fiscal third-quarter earnings and sales that beat expectations. Comprehensive income totaled $90.9 million, or $2.69 per share, up from $26.6 million, or $1.27 per share, for the same period last year. Adjusted EPS was $4.97, exceeding the FactSet consensus $3.82. The company, whose brands include Ugg, Teva and Sanuk, said adjusted EPS was “largely effected” by recent tax reforms. Sales totaled $810.5 million, up from $760.3 million and ahead of the $748.0 million FactSet consensus. Deckers says it plans to repatriate $250.0 million by the end of fiscal 2018, a preliminary estimate that could be impacted by clarifications or changes to tax reforms or other factors. The company sees fourth-quarter sales in the range of $370.0 million to $375.0 million, and adjusted EPS in the range of 15 cents to 20 cents. The FactSet consensus is for sales of $377.4 million and earnings of 24 cents per share. Deckers shares are up 26.7% for the last three months, and up 53.5% for the last year. The S&P 500 index is up 9.4% for the past three months.

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Shares of Tableau Software Inc. rose nearly 16% in after-hours trade on Thursday after the company reported fourth-quarter earnings results that were better than Wall Street expected. Tableau reported a net loss of $41.84 million, or loss of 52 cents per share, compared with a loss of $21.09 million, or 28 cents loss per share during the same quarter a year ago. The company reported adjusted earnings of 12 cents per share, while FactSet’s consensus was 3 cents. Revenue for the quarter was $249.36 million, down slightly from $250.65 million a year ago, but above FactSet’s $241.0 million consensus. Tableau said that Chief Financial Officer Tom Walker will step down from his role effective immediately after more than 13 years. The board tapped Senior Vice President of Finance Damon Fletcher to serve as interim CFO until they find a permanent replacement. They will consider internal and external candidates. The board also appointed Gerri Martin-Flickinger, chief technology officer for Starbucks, as a new director. Shares of Tableau are up 59% in the last 12 months, while the S&P 500 index is up close to 24% and the Dow Jones Industrial Average is up more than 31%.

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From:: Stock Market News

​Shares of Visa Inc. fell in Thursday’s extended session despite better-than-expected quarterly results from the credit card company. Visa reported fiscal first-quarter net income of $2.52 billion, or $1.07 per Class A share, compared with $2.07 billion, or 86 cents per Class A share, a year earlier. On an adjusted basis, Visa would have earned $1.08 per Class A share. Net operating revenue rose to $4.86 billion from $4.46 billion. Analysts surveyed by FactSet had projected earnings of 98 cents a share on revenue of $4.82 billion. Visa credited strong growth in the U.S. on the back of holiday demand and e-commerce for its strong quarter. For fiscal 2018, the company reiterated its projection of net revenue growth in the “high single digits” percentage range and expects its bottom line to be driven by the tax cuts. Visa shares are off 0.8% after hours. The stock is up 10% year to date.

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From:: Stock Market News

Airbnb Inc. said Thursday that it is not going to list on the public markets in 2018, following the departure of its Chief Financial Officer Laurence Tosi. In a statement Airbnb Chief Executive Brian Chesky said, “We are not going public in 2018. Our primary focus is becoming a 21st-century company and advancing our mission. We’re working on getting ready to go public and we will make decisions about going public on our own timetable.” Chesky previously said in October that the company was half way through its two year process to prepare to go public, though that did not mean the company planned to do so once it was complete. Airbnb also said Thursday that it had elevated Belinda Johnson to the Chief Operating Officer position. Previously she served as chief business affairs and legal officer at Airbnb and currently sits on the PayPal Inc. board, according to her LinkedIn profile.

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Oil prices finished sharply higher Thursday after analysts at Goldman Sachs said the market has likely reached a balance between supply and demand, and that Brent crude prices are expected to top $80 a barrel later this year. U.S. government data released Wednesday showing a surprise fall in weekly domestic gasoline supplies on the heels of strong demand, also provided a boost for oil prices. March West Texas Intermediate crude rose $1.07, or 1.7%, to settle at $65.80 a barrel on the New York Mercantile Exchange.

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Macy’s Inc. said Thursday that will launch a women’s line, the Verona Collection, a “modest” clothing brand that will include hijabs. The collection was designed by Lisa Vogl, a 2017 graduate of The Workshop at Macy’s, a development program focused on minority- and women-owned businesses. The collection will also include cardigans, maxi dresses and other items. Merchandise will be priced from $12.95 to $84.95 and will be available online starting Feb. 15. Macy’s shares are up 36.5% for the past three months, but down 11.4% for the last year. The S&P 500 index is up nearly 24% for the past 12 months.

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The Atlanta Fed GDPNow model for first-quarter GDP growth jumped after data released Friday on manufacturing and construction. The estimate climbed to 5.4% from 4.2%. This would be the fastest quarterly growth rate since the third quarter of 2003.

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From:: Stock Market News