Author: admin

Shares of Activision Blizzard Inc. rose 0.6% in Friday morning trading, while shares of Electronic Arts Inc. gained 0.7%, after analysts at Credit Suisse wrote of “gearing up for the mobile game renaissance.” The analysts, led by Stephen Ju, think that mobile games based on existing Activision franchises “will exert the greatest influence on Activision’s growth” as they could expand popular titles to consumers who don’t have expensive consoles or gaming PCs. Ju doubts that the company will release titles this year, but he believes management may provide more information on its plans for this initiative. He’s also upbeat on EA’s “steps to optimize FIFA Mobile and release Sims Mobile.” Ju raised his price target on Activision shares to $81, from $77, and upped his EA target by a dollar to $131. He has outperform ratings on both stocks and a neutral rating on Take-Two Interactive Software Inc. , which he thinks could also benefit from mobile gaming. Ju raised his Take-Two target to $125 from $116, and shares are up 0.4% in Friday morning trading. Activision shares are up 79% over the past 12 months, while EA’s stock has gained 40% and Take-Two’s has gained 118%. The S&P 500 is up 24%.

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

U.S. stock indexes started higher on Friday as the Dow and the S&P 500 were on track to set record high closes. The Dow Jones Industrial Average advanced 53 points, or 0.2%, to 26,445. The S&P 500 was up 8 points, or 0.3%, to 2,847. The Nasdaq Composite Index added 37 points, or 0.4%, to 7,438. On Thursday, the Dow was the only major benchmark index that set an all-time high. Fourth-quarter gross domestic product was up 2.6 percent, falling below expectations but strong enough to stave off concerns that the U.S. economy was starting to stumble as it headed into the new year.

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

FedEx Corp. said Friday it would commit more than $3.2 billion to pension funding, capital investments and employee compensation, following the tax-reform legislation. The package delivery company said over $200 million, or about 6.3% of the total commitment, will go toward increased compensation, with about two-thirds of that going to hourly employees by moving up 2018 annual pay increases by six months. The package delivery company will contribute $1.5 billion to the pension plan and invest $1.5 billion to expand the FedEx Express Indianapolis hub over the next seven years, and to modernize the Memphis SuperHub. The company said it has made not change to its 2018 earnings or capital expenditure guidance that it provided last month. The stock, which was still inactive in premarket trade, has has rallied 17.0% over the past three months, while the Dow Jones Transportation Average has run up 11.4% and the Dow Jones Industrial Average has climbed 12.8%.

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

U.S. stock-index futures on Friday showed slight gains, but were off their best levels, after a first reading of U.S. economic growth came in a touch softer than forecast. Futures for the Dow Jones Industrial Average rose 37 points, or 0.1% to 26,413, while S&P 500 futures climbed 8 points, or 0.3%, to 2,849. Nasdaq-100 futures added 30.50, or 0.4%, to 6,961.75. U.S. fourth-quarter GDP was 2.6%. compared with expectations for 2.9%. Still, the reading signals that the economy is healthy after back-to-back readings of 3% in the previous two quarters.

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

WASHINGTON (MarketWatch) – The U.S. expanded at a 2.6% annual pace in fourth quarter, extending one of the best stretches of growth during the current eight-and-a-half-year-old upturn. GDP fell short of MarketWatch’s 3% forecast, however, owing to lower inventory production and a bigger trade deficit. Consumer spending, the main engine of the economy, rose a strong 3.8%, the biggest increase in almost two years. Investment in new housing increased 11.6%, business spending on equipment surged 11.4% and outlays on structures edged up 1.4%, according to Commerce Department data. Yet the value of inventories declined by $29.3 billion. Trade was an even bigger drag on GDP. Imports jumped 13.9%, doubling the 6.9% rise in exports. Inflation as measured by the PCE price index increased at a 2.8% annual rate, the highest pace since 2011. Core PCE rose at a slower 1.9% clip, however.

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

The Dow Jones Industrial Average on Friday looked set to open modestly higher as President Donald Trump delivered a speech at the World Economic Forum in Davos, Switzerland that invited companies to do business in America and indicated the the world’s No. 1 economy wanted to do “fair and reciprocal” trade deals. Futures for the Dow Jones Industrial Average were up 54 points, or 0.2%, at 26,430, S&P 500 futures were up 0.3% at 2,850, while futures for the Nasdaq-100 were showing a gain of 0.5% at 6,966.25. Trump said “America first does not mean America alone” and promoted a wave of pro-business policies that he said has allowed the stock market to “smash record after record.” The Dow , the S&P 500 and the Nasdaq Composite Index have mostly risen to all-time highs in January on the back of better-than-expected quarterly reports and in anticipation that Wall Street friendly legislations will boost economic growth and the market.

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

AbbVie Inc. shares rose nearly 3% in pre-market trade after the company reported fourth-quarter profit and revenue beats and released upbeat 2018 guidance. Earnings for the latest quarter declined to $52 million, or 3 cents per share, from $1.39 billion, or 85 cents per share in the year-earlier period. Adjusted earnings-per-share were $1.48, compared with the FactSet consensus of $1.45. Revenue rose to $7.74 billion from $6.80 billion, compared with the FactSet consensus of $7.51 billion. Sales of Humira, Imbruvica, Lupron, Creon, Synagis, Kaletra, Sevoflurane and Duodopa came in above FactSet expectations, while sales of Synthroid and AndroGel missed expectations. AbbVie expects 2018 EPS of $6.45 to $6.55, compared with the FactSet consensus of $5.83, and raised adjusted EPS from between $6.37 and $6.57 to between $7.33 and $7.43, compared with the FactSet consensus of $5.56. The company said its 2017 results reflect provisional amounts related to U.S. corporate tax reform, but that estimates might be adjusted this year. AbbVie also touted plans to increase U.S. investments, including a proposal to invest about $2.5 billion in U.S. capital projects, possible expansion of its U.S. facilities, a one-time charitable donation of about $350 million to U.S. non-profits in 2018, added pension funding of about $750 million and greater compensation for non-executive employees. AbbVie shares have surged 20.9% over the last three months, compared with a 10.9% rise in the S&P 500 and a 12.8% rise in the Dow Jones Industrial Average .

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

Colgate-Palmolive Co. shares fell 3.1% in Friday premarket trading after the consumer products company said growth in 2018 would be challenged. Net income totaled $323.0 million, or 37 cents per share, down from $606.0 million, or 68 cents per share, for the same period last year. Adjusted EPS was 75 cents. Revenue of $3.89 billion was higher than the $3.72 billion reported last year. Adjusted EPS was in line with the FactSet consensus, but the revenue consensus was $3.93 billion. With uncertainty in the global markets and growth challenged, Colgate’s Chief Executive Ian Cook said the company will remain focused on “brand building and increased productivity.” Colgate expects a mid-single digit sales increase in 2018. The FactSet consensus is $16.12 billion, up 4.3% from $15.45 billion this year. Colgate shares are up 13.3% for the past year while the S&P 500 index is up 23.6% for the period.

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

Airplane parts maker Rockwell Collins Inc. said Friday it had net income of $280 million, or $1.69 a share, in the fourth quarter, up from $145 million, or $1.10 a share, in the year-earlier period. The number includes a one-time tax benefit of 37 cents a share, Adjusted per-share earnings came to $1.59, ahead of the FactSet consensus of $1.55. Sales rose 69% to $2.011 billion, also ahead of the FactSet consensus of $1.993 billion. The company, which is being taken over by United Technologies Corp. in a $23 billion deal, said earnings were boosted by a strong performance at its commercial systems and government systems businesses. it will not hold an earnings conference call because of the United Tech deal. Shares were not yet active premarket.

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

Honeywell International Inc. reported Friday a fourth-quarter net loss of $2.41 billion, or $3.18 a share, compared with a profit of $1.03 billion, or $1.34 a share, in the same period a year ago. Excluding non-recurring items, such as a one-time charge related to tax-reform legislation, adjusted earnings per share came to $1.85, above the FactSet consensus of $1.84. The industrial conglomerate said revenue rose to $10.84 billion from $9.99 billion, beating the FactSet consensus of $10.76 billion, as better than expected sales in its aerospace, performance materials and technologies and safety and productivity solutions businesses offset a slight miss in home and building technologies sales. The stock inched up 0.1% in premarket trade. For 2018, the company raised its EPS guidance by 20 cents to $7.75 from $8.00 to reflect a lower expected tax rate as a results of tax-reform legislation. The stock has rallied 37.2% over the past 12 months through Thursday, while both the SPDR Industrial Select Sector ETF has and the S&P 500 have gained 23.6%.

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.

…read more

From:: Stock Market News