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Time Warner Inc.’s stock tumbled 8% in midday trade, after the media and entertainment company provided a disappointing outlook for next year. Chief Executive Jeffery Bewkes said on a conference call with investors, according to a transcript provided by FactSet, that 2016 adjusted earnings per share are expected to be around $5.25, below the FactSet consensus of $5.60. He said unfavorable currency movements would reduce EPS by about 50 cents next year. Chief Financial Officer Howard Averill said on the call that ratings at key domestic networks declined more than previously expected, which will hurt ad revenue in 2016. He said subscribers at Turner division’s networks have declined about 1% more than anticipated. Earlier, the company reported third-quarter earnings and revenue that were above expectations. The stock has dropped 17% year to date, while the S&P 500 has gained 2.1%.

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.

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From:: Stock Market News

By Rachel Jefferson

From loud neighbors to huge upfront costs, every renter experiences ups and downs throughout their life as a tenant. Property managers should be aware of these seven issues prospective renters face and possible solutions to be proactive and ready for any resident complaint or request.

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From:: Property Management

Oil prices briefly pared losses Wednesday after the U.S. Energy Information Administration reported a climb of 2.8 million barrels in crude supplies for the week ended Oct. 30. That matched the increase reported by the American Petroleum Institute on Tuesday. Analysts polled by Platts expected supplies to be up by 2.45 million barrels. Gasoline supplies fell by 3.3 million barrels, while distillate stockpiles declined by 1.3 million barrels last week, according to the EIA. December crude traded as high as $47.74 a barrel on the New York Mercantile Exchange shortly after the data were released, then pulled back to $47.33, down 57 cents, or 1.2%. Prices traded at $47.52 before the report.

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.

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From:: Stock Market News

Nearly half of U.S. shoppers will buy something on Black Friday and Cyber Monday, according to the American Express Spending and Saving Tracker. The credit card issuer, which polled more than 1,500 Americans in late September, said 56% of shoppers earning $100,000 or more annually will make purchases on those days, up from 46% last year. Consumers will spend $584 on average, up 17% from last year; more than half of Black Friday shoppers (55%) said they will shop between midnight and 7 a.m., with 58% saying they would use a smartphone when holiday shopping, up from 49% in 2014.

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.

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From:: Stock Market News

WASHINGTON (MarketWatch) — The Institute for Supply Management’s services index rose to a reading of 59.1% in October, up from 56.9% in September, the highest level in three months, and above the 56.5% expected in a MarketWatch-compiled economist poll. The components also were strong, with new orders at 62% and employment at 59.2%, on a scale where any reading above 50% indicates improving activity. The gap between the ISM services and manufacturing indexes is the largest in over 14 years.

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.

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From:: Stock Market News

Shares of Groupon Inc. fell 30% in early trade Wednesday, after the company reported weaker-than-expected quarterly revenues, issued a disappointing sales guidance and ousted its CEO Tuesday night. Shares of Groupon recently traded around $2.84, their lowest level since November 2012. The stock is down more than 40% over the last three months, and 64% over the last 12 months. While there were no major rating changes on the stock as of Wednesday’s open, several banks lowered their price target, pushing the average 12-month price target down to $4.44, according to a poll on FactSet.

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.

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From:: Stock Market News

Democratic members of the House Oversight Committee called on Chairman Jason Chaffetz Wednesday morning to hold a hearing with J. Michael Pearson of Valeant Pharmaceuticals and Martin Shkreli of Turing Pharmaceuticals to investigate the dramatic price increases of some prescription drugs. In a letter to Chaffetz the members asked Chaffetz to not stand in the way of issuing subpoenas to the two men. Executives at both companies have rejected earlier requests to Pearson and Shkreli from ranking member Democrat Elijah Cummings to produce information about the price increases. Questions about Valeant and Turing gained more significance after numerous recent press reports raised serious new concerns about the business practices of both companies and their business partners.

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.

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From:: Stock Market News

U.S. stocks opened marginally higher Wednesday after a pair of economic reports pointed to a slight slowdown in the labor market but a pickup in exports. Private-sector job gains in October slowed down to 182,000, while a trade deficit shrank 15% in September due to a pick up in exports. The S&P 500 added 3 points, or 0.1%, to 2,113. The Dow Jones Industrial Average gained 36 points, or 0.2%, to 17,953. The Nasdaq Composite began the day up 13 points, or 0.3%, at 5,158.

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.

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From:: Stock Market News

WASHINGTON (MarketWatch) – Private-sector employment gains continued in October at a slightly slower pace than in the prior month. Employers added 182,000 jobs last month, Automatic Data Processing Inc. reported Wednesday. ADP revised September’s gain down slightly to 190,000 from a prior estimate of 200,000. Economists use ADP’s data to get a feeling for the Labor Department’s employment report, which will be released Friday and covers government jobs in addition to the private sector. Economists polled by MarketWatch expect the government’s report to show that nonfarm payroll rose by a 177,000 jobs last month, up from the gain of 142,000 in September.

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.

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From:: Stock Market News

WASHINGTON (MarketWatch) – The Treasury Department announced Wednesday that it is considering adding a 2-month bill maturity to the securities it currently offers. The department also said it will sell $64 billion in notes and bonds next week in its quarterly refunding auction. The department will auction $24 billion in 3-year notes on Nov. 9 and $24 billion in 10-year notes on Nov. 10. The government will also sell $16 billion in 30-year bonds on Nov 12. The offerings will refund $60.4 billion in maturing securities and raise approximately $3.6 billion. Treasury also repeated that it intends to increase bill issuance. The supply of bills outstanding as a percentage of the total Treasury portfolio is now at a multi-decade low of about 10%, the department said.

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.

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From:: Stock Market News