Author: admin

The American Petroleum Institute late Tuesday reported that crude supplies fell by 1.1 million barrels for the week ended April 22, according to sources who reviewed the report. Analysts polled by Platts forecast a climb of 800,000 barrels for crude inventories. The closely watched Energy Information Administration report will be released Wednesday. June crude was at $44.49 a barrel in electronic trading, up from the contract’s settlement of $44.04 on the New York Mercantile Exchange.

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

Fortinet Inc. shares jumped in the extended session Tuesday after the cybersecurity company topped Wall Street estimates for the quarter. Fortinet shares surged 9.1% to $33.75 after hours. The company reported adjusted earnings of 12 cents a share on revenue of $284.6 million. Analysts surveyed by FactSet had estimated earnings of 9 cents a share on revenue of $273.5 million.

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

A lockdown at the White House has been lifted after an incident involving a fence jumper, reports said Tuesday. The White House did not immediately return a request for comment, but one report said the incident involved a fence jumper at the Eisenhower Executive Office Building, next to the White House.

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

Panera Bread Co. shares are up 1.8% in after-hours trading Tuesday, after the company reported first-quarter earnings that beat estimates and raised its full-year earnings outlook. The fast-casual chain said it had net income of $35 million, or $1.45 per share, up 21% from $32 million, or $1.20 per share for the same period last year. Adjusted earnings were $1.56 per share, exceeding the FactSet consensus of $1.51. Sales for the quarter totaled $685.2 million, up from $648.5 million and above the $674 million FactSet consensus. Same-store sales for all Panera restaurants was up 4.7%, while same-store sales for company-owned restaurants was up 6.2%. Franchise-operated restaurants saw same-store sales increase 3.3%. Panera raised its full-year earnings outlook to between $6.50 and $6.70 per share from between $6.33 and $6.52. It also raised the same-store sales outlook for its company-owned stores to between 4% and 5% from between 3.5% and 4.5%. Panera Bread shares are up 15.3% for the past year while the S&P 500 is down 1.2% for the same 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

Shares of Barracuda Networks Inc. jumped in Tuesday’s extended session after the security and storage company said it swung to black in the most recent quarter. Barracuda reported fourth-quarter earnings of $3.2 million, or 6 cents a share, compared with a loss of $69.4 million, or $1.30 a share, a year ago. On an adjusted basis, the company earned 15 cents a share. Revenue rose 16% to $83.7 million. Analysts surveyed by FactSet had projected earnings of 8 cents a share on revenue of $80.9 million. Barracuda shares climbed 7.5% in after-hours trading.

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

Micron Technology Inc.’s stock soared 9.2% in active afternoon trade Tuesday, enough to make it the biggest percentage gainer in the S&P 500, after South Korea-based chipmaker SK Hynix Inc. gave an upbeat outlook for the dynamic random-access memory chips, which is a key product of Micron. Volume of 40.4 million shares was nearly double the full-day average. Hynix said late Monday in a conference call following first-quarter results that it anticipates “more positive demand momentum around the second half,” given that inventory levels aren’t too high and with new smartphone launches expected to stimulate demand, according to a transcript provided by FactSet. Hynix said it expects DRAM bit shipment growth in the mid-teens percentage range for the second quarter, after a 3% decline in the first quarter. For the quarter ended in February, Micron had reported a 9% decline in DRAM gigabits sold.

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