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An exchange-traded fund tracking the Turkish stock market fell sharply Monday, catching up with losses in the Turkish market after a failed coup attempt at the weekend. The iShares MSCI Turkey ETF was last down 6.2% at $39.02. Telecoms company Turkcell , Turkey’s only American Depositary Receipt to be listed on a U.S. exchange, was down 5.1% at $9.09. In Turkey, the benchmark BIST 100 index closed down 7.1%, with all of its components down except for industrial conglomerate Dogan Sirketler Grubu Holding AS , which was up 2%. The company owns CNN Turk, whose on-air broadcast was briefly interrupted early Saturday as soldiers overtook the broadcaster’s studio. The Turkish lira was up 1.8% against the dollar, after falling 4.7% on Friday.

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From:: Stock Market News

Starbucks Corp. said Monday that it is expanding health-care benefits for all eligible part-time and full-time workers. A new online platform created with Aon PLC will offer as many as six carriers and five levels of coverage. Workers could save up to $800 annually by selecting a plan that better suits their needs, Starbucks said in a statement. Starbucks staffers will also have access to Healthcare Advocates to help choose a health care plan. The company will continue to cover about 70% of premium costs and 100% of preventive care services. Starbucks employs more than 160,000 workers and has been providing health care to eligible workers since 1988. Starbucks shares are down 0.2% in Monday trading and 4.5% for the year so far. The S&P 500 is up 6.1% for the year to date.

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From:: Stock Market News

Twilio Inc.’s stock slumped 1.9% in morning trade, after analysts started coverage of the recent IPO with less-than-upbeat ratings and stock price targets. Analyst Mark Murphy at J.P. Morgan said the cloud communications company was a category leader with strong growth prospects, but initiated Twilio with a neutral rating and stock price target of $39, which was 7.5% below current levels. Canacccord Genuity analyst Richard Davis started Twilio at hold and a $40 stock price target, which was 5.2% below current levels, saying that while Twilio was a “best-in-class” company in a fast-growing market, the stock is “quite expensive.” The stock, which went public on June 23, closed Friday at $43, which was nearly triple its IPO price of $15. Pacific Crest’s Brendan Barnicle initiated the stock at sector perform, with no stock price target. He said that while the company is “ripe with potential,” the stock has run up a bit fast since its IPO.

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Shares of ParkerVision Inc. more than doubled in very active morning trade Monday, before paring some gains, after the radio-frequency technology company announced agreements Samsung Electronics Co. Ltd. to settle a patent suit to license its patents . Volume jumped to 1.7 million shares within the first half hour of trade, or more than 50 times the full-day average. The stock shot up 76%, but had been up as much as 130% at a 15-month high of $8.18 earlier in the session. ParkerVision entered into an agreement with Samsung for the “perpetual, worldwide license of ParkerVision’s current patent portfolio,” the company said in a statement. In conjunction, the company agreed to dismiss its claims against Samsung. Financial terms were not disclosed.

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From:: Stock Market News

Burlington Stores Inc. shares are up 4.6% in Monday trading after the company raised its second quarter guidance. The off-price retailer now expects fiscal second quarter comparable sales to increase between 4.2% and 4.5%, up from an increase of 2.5% to 3.5%. And Burlington Stores expects adjusted net income between 28 cents and 30 cents per share, up from between 20 cents per share and 23 cents per share. The company will update its full-year guidance when it announces second-quarter results, it said in a statement. Burlington Stores is expected to announced second-quarter results on September 6, according to FactSet. Burlington Stores shares are up 65% for the year so far while the S&P 500 is up 5.8% for the same period.

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From:: Stock Market News

U.S. stocks opened flat Monday, with the main benchmarks trading near record highs as strong second-quarter earnings bolstered demand for U.S. shares. The S&P 500 gained 1 point, or less than 0.1%, to 2,162. The Dow shed 5 points, or less than 0.1%, to 18,515. The Nasdaq Composite added 6 points, or 0.1%, to 5,035. Bank of America shares edged higher after the company reported second-quarter results. Investors are looking ahead to results from Netflix after the bell.

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From:: Stock Market News

Charles Schwab Corp. reported Monday second-quarter earnings that rose to $452 million, or 30 cents a share, from $353 million, or 25 cents a share, in the same period a year ago. Revenue increased 17% to $1.83 billion from $1.57 billion. The FactSet consensus was for earnings per share of 30 cents and revenue of $1.80 billion. Net interest revenue rose to $798 million from $612 million, beating the FactSet consensus of $790.4 million. Trading revenue slipped to $201 million from $203 million, missing expectations of $203.2 million. Core net new assets increased $26.6 billion, while the number of brokerage accounts increased by 271,000. “Our year-to-date results have outperformed the baseline scenario that we laid out in the beginning of 2016. But as the second quarter came to a close, market concerns regarding economic growth, interest rates and equity valuations in the second half of this year escalated significantly,” said Chief Financial Officer Joe Martinetto. “While many of these concerns have abated somewhat, we recognize the importance of remaining flexible in order to make the most of the environment as it evolves.” The stock, which climbed 1.8% in premarket trade, has tumbled 18% year to date through Friday, while the S&P 500 has gained 5.8%.

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Evoke Pharma Inc. shares plummeted 75.8% in pre-market trade Monday after the company’s diabetic gastroparesis drug for female patients missed its primary endpoint in phase 3 topline results. The company’s president and CEO Dave Gonyer called the results for the drug, EVK-001, “unexpected and an anomaly” and said they continue to believe the drug is a promising treatment option. Evoke shares more than doubled over the last three months, compared with a 3.2% rise in the S&P 500 .

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From:: Stock Market News