Author: admin

CVS Health Corp. shares were up 0.2% in pre-market trade after the company beat earnings expectations and provided an upbeat earnings outlook. Earnings for the latest quarter fell to $1.15 billion, or $1.04 per share, from $1.22 billion, or $1.07 per share, in the same period a year ago. Adjusted earnings-per-share were $1.18, above the FactSet consensus of $1.16. Revenue rose to $43.2 billion, up 18.9%, beating the FactSet consensus of $43.0 billion. For 2016, CVS expects adjusted EPS of $5.73 to $5.88, around the FactSet consensus of $5.82. The company said it expects adjusted EPS in the second quarter to be $1.28 to $1.31, above the FactSet consensus of $1.16. Shares in the company rose 6.4% in the last three months, compared with a 8.8% rise in the S&P 500 .

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

Archer Daniels Midland Co.’s stock was indicated about 2% lower in premarket trade Tuesday, after the agricultural services company reported first-quarter profit and sales that fell more than expected. Earnings for the latest quarter declined to $230 million, or 39 cents a share, from $493 million, or 77 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came in at 42 cents, below the FactSet consensus of 45 cents. Revenue fell to $14.38 billion from $17.51 billion, well below the FactSet consensus of $16.85 billion, as agricultural services, oilseeds processing and corn processing revenue all declined more than expected. “Low U.S. export volumes and weak margins continued, and in the quarter, poor results from the global trade desk impacted results for [agricultural] services,” said Chief Executive Juan Luciano. The stock has run up 9.8% year to date through Monday, while the S&P 500 has gained 1.8%.

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

The Japanese yen renewed its hard push against the dollar on Tuesday, while the Australian dollar dived after the country’s central bank cut interest rates. Hitting a fresh 18-month low, the U.S. dollar dropped to ¥105.98 from ¥106.54 late Monday. Meanwhile, the euro maintained its highest levels since August 2015 against the dollar reached on Monday. The euro last changed hands at $1.1528 from $1.1536 seen late Monday. Even bigger moves were seen Tuesday for the Australian dollar, which took a hit after the Reserve Bank of Australia cut interest rates for the first time in a year, in a bid to combat record-low inflation and a strong local currency. The cash rate target was cut by one-quarter of a percentage point to a new low of 1.75% – analysts had been split on whether the central bank would cut. The Australian dollar slid to $0.7569 against the dollar, having moved up to $0.772 just ahead of the move.

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

Yelp Inc. shares rallied in the extended session Monday following reports that David Einhorn’s hedge fund Greenlight Capital took a further long position in the online reviews website. Yelp shares jumped 6% to $22.80 after hours. Back in February, Greenlight reported a stake of about 260,000 shares of Yelp. A Securities and Exchange Commission filing outlining Greenlight’s holdings is due out this month.

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

Shares of On Deck Capital Inc. plunged nearly 29% late Monday after the online small-business lender widened its quarterly loss. On Deck said it lost $13 million in the first quarter, compared with $5 million in the year-ago period. Adjusted for one-time items, On Deck said it lost $8.8 million, or 13 cents a share, compared to a loss of $3.3 million, or 5 cents a share, a year ago. Gross revenue was $63 million, up 11% from the prior-year period, the company said. Analysts polled by FactSet had expected On Deck to report an adjusted loss of 8 cents a share on sales of $69 million in the quarter. On Deck shares had ended the regular trading day down 3.8%.

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