Author: admin

Pfizer Inc. said Tuesday it had positive results in a late-stage trial of Broaden, a treatment for psoriatic arthritis in adults. The company said a first Phase 3 trial of the drug met its primary endpoints. Psoriatic arthritis is a chronic inflammatory disease, that includes symptoms such as pain and swelling of the joints, and inflation of the joints, spine, fingers and toes. An estimated 3 million people in the U.S. and Europe suffer from the disease. Separately, the U.S. Treasury announced new rules late Monday to curb corporate tax inversion that could complicate Pfizer’s planned takeover of Allergan Inc. . Pfizer shares were trading up 2.6% in premarket trade.

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

Darden Restaurants Inc. reported Tuesday fiscal third-quarter earnings that fell to $105.8 million, or 82 cents a share, from $133.8 million, or $1.05 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.21, beating the FactSet consensus of $1.19. Revenue rose to $1.85 billion from $1.73 billion, matching the FactSet consensus of $1.85 billion, as better-than-expected sales at Olive Garden and fine dining restaurants offset a slight miss at LongHorn Steakhouse restaurants. Overall same-restaurant sales grew 6.2%, above expectations of a 5.9% rise. The company now expects full fiscal year EPS of $3.48 to $3.52, compared with the FactSet consensus of $3.48. The stock, which was still inactive in premarket trade, has climbed 5.8% year to date, while the S&P 500 has gained 1.1%.

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

Walgreens Boots Alliance Inc. shares dipped 0.7% in premarket trade Tuesday, after the drug store chain posted weaker-than-expected sales for its fiscal second quarter. Walgreens said it had net earnings of $930 million, or 85 cents a share, in the quarter, down sharply from $2.04 billion, or $1.93 a share, in the year-earlier period when the company benefited from a non-cash gain of $814 million. Adjusted per-share earnings came to $1.31, ahead of the FactSet consensus of $1.28. Sales rose 13.6% to $30.2 billion, below the FactSet consensus of $30.7 billion. The company said it is raising the low end of its EPS guidance for fiscal 2016 by 5 cents to $4.35 to $4.55, which wraps around the current FactSet consensus of $4.48. Shares are up 1.4% in the year so far, while the S&P 500 has gained just 1.1%.

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

Walgreens Boots Alliance Inc. shares dipped 0.7% in premarket trade Tuesday, after the drug store chain posted weaker-than-expected sales for its fiscal second quarter. Walgreens said it had net earnings of $930 million, or 85 cents a share, in the quarter, down sharply from $2.04 billion, or $1.93 a share, in the year-earlier period when the company benefited from a non-cash gain of $814 million. Adjusted per-share earnings came to $1.31, ahead of the FactSet consensus of $1.28. Sales rose 13.6% to $30.2 billion, below the FactSet consensus of $30.7 billion. The company said it is raising the low end of its EPS guidance for fiscal 2016 by 5 cents to $4.35 to $4.55, which wraps around the current FactSet consensus of $4.48. Shares are up 1.4% in the year so far, while the S&P 500 has gained just 1.1%.

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

China’s banking regulator has called on the country’s lenders to step up risk management in their overseas operations, Dow Jones Newswires reported Tuesday. In a notice posted online, DJN said, the China Banking Regulatory Commission urged banks to assess the economic and political situations in their external markets, be cautious about giving credit to overseas customers and not rely on credit-rating agencies alone when considering overseas bond investments.

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