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U.S. stocks opened slightly lower on Tuesday as investors grappled with falling crude oil prices, weak economic data and mixed earnings results. The S&P 500 opened 7 points, or 0.3%, lower at 2,064.13, with the energy stocks selling off hard. The Dow Jones Industrial Average fell 71 points, or 0.4%, to 17,553.83. The Nasdaq Composite began the day down 7 points, or 0.2%, at 5,025.57.

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From:: Stock Market News

WASHINGTON (MarketWatch) — U.S. home prices rose 0.4% in August to stretch year-on-year gains to 5.1%, according to the S&P/Case-Shiller 20-city composite released Tuesday. Eighteen out of 20 cities reported monthly gains. That’s not unusual for the summer, and after seasonal adjustment, five were down, 11 were up, and four were unchanged. Portland and Denver had the strongest monthly gains, while only fast-growing San Francisco saw a decline, of 0.1%. Compared to Aug. 2014, Denver and San Francisco have the fastest growth at 10.7%; New York, Chicago and Washington D.C. each have growth of under 2%.

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From:: Stock Market News

Bill Blass, the designer clothing brand established in 1970, will re-launch on Nov. 2 as a global e-commerce-only brand designed by Creative Director Chris Benz, according to a release. The line will include ready-to-wear, handbags, accessories and shoes and will ship to 65 countries.

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From:: Stock Market News

WASHINGTON (MarketWatch) – U.S. orders for long-lasting or durable goods fell a seasonally adjusted 1.2% in September amid widespread softness in the manufacturing sector. Although the dip was smaller than the 2.3%​ decline forecast by a MarketWatch poll of economists, orders for August were also revised lower. Booking in August fell 3% instead of 2.3%, revised Commerce Department figures show. The auto industry was one of the few bright spots again, with orders snapping back 1.8% after a decline in August. Bookings for commercial aicraft sank 35.7%, however. Stripping out transportation, U.S. durable-goods orders slipped 0.4% last month. Orders minus defense fell a larger 2%. Orders for core capital goods – a proxy for business investment – retreated 0.3% to mark the second straight drop. Yet shipments of core capital goods, a category used to help determine quarterly economic growth, rose 0.5% in September​.

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From:: Stock Market News

Fresh Del Monte Produce Inc. said it had net income of $28.5 million, or 54 cents per share, the third quarter, up from $19.9 million, or 35 cents, for the same period last year. Adjusted earnings were 57 cents per share up from 35 cents per share the prior year. The FactSet consensus was 29 cents per share. Sales were $936.1 million compared with $884.6 million for the same period last year. The FactSet consensus estimate was $927.4 million. Avocados are becoming one of the company’s fastest growing categories, Chief Executive Mohammad Abu-Ghazaleh said in a statement. Sales of avocadoes increased 38% to $45.5 million compared with 2014. The company was negatively impacted by “higher banana production and procurement costs, unfavorable foreign exchange rates, and lingering effects of a tough Chilean season,” Abu-Ghazaleh said. Sales of bananas increased to $425.2 million from $423.8 million in 2014. Fresh Del Monte shares are up 25.5% for the year so far. The S&P is up 0.6% for the same period.

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From:: Stock Market News

Cisco said Tuesday that it plans to acquire Lancope, Inc., a private network security company for $452.5 million in cash and assumed equity awards. Lancope employees will join Cisco, and Cisco will also pay retention based incentives for those employees. Lancope helps protect companies against cyber security threats by analyzing traffic patterns and using network behavior analytics, among other measures. The acquisition is expected to close in the second quarter of fiscal year 2016.

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From:: Stock Market News

United Parcel Service Inc.’s stock dropped 1.1% in premarket trade Tuesday, after the package delivery company beat third-quarter profit expectations, but missed on sales. Earnings rose to $1.26 billion, or $1.39 a share, from $1.21 billion, or $1.32 a share. That topped the FactSet earnings-per-share consensus of $1.37. Revenue slipped to $14.24 billion from $14.29 billion, below the FactSet consensus of $14.41 billion, as a decline in international package revenue offset increases in domestic and supply chain and freight revenue. Domestic daily shipments rose 0.6%, while international daily exports increased 1.2%. The company affirmed its full-year EPS outlook of $5.05 to $5.30. The stock has lost 4.5% year to date, while the S&P 500 has tacked on 0.6%.

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From:: Stock Market News

Restaurant Brands International said it had net income of $182.9 million, or 24 cents per share, in the third quarter, after a loss of $23.5 million, or seven cents per share, for the same period last year. Adjusted earnings per share came to 34 cents per share, below the FactSet consensus of 38 cents. Revenue for the quarter totaled $1.02 billion compared to $1.11 billion in 2014 on a pro forma basis, versus the FactSet consensus of $1.37 billion. Restaurant Brands was formed in 2014 when Burger King Worldwide Inc. acquired Canada’s Tim Hortons for $11 billion. Restaurant Brands shares are up 10.3% for the year so far. The S&P is up 0.6% for the same period.

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From:: Stock Market News

Shares of JetBlue Airways Corporation gained 3% Tuesday in premarket trade after the company beat third-quarter earnings expectations. The company reported net income of $198 million, or 58 cents per share, up from $79 million, or 24 cents per share, in the year-earlier period. JetBlue reported adjusted earnings per share of 58 cents, above the FactSet consensus of 57 cents. The company reported operating revenue of $1.69 billion, above $1.53 billion in the year-earlier period and above the FactSet consensus of $1.68 billion. “We posted another strong result in the third quarter as our revenue growth outperformed the industry and we ran an efficient and safe operation,” said Mark Powers, the company’s chief financial officer, in the press release.

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From:: Stock Market News

Coach Inc. on Tuesday reported quarterly profit that came in higher than Wall Street’s consensus estimate, although sales skirted below expectations. The luxury-goods maker said fiscal first-quarter profit was $96.4 million, or 35 cents a share, compared with $119.1 million, or 43 cents a share, a year ago. Adjusted per-share earnings of 41 cents were higher than 40 cents a share expected in a FactSet poll of analysts. Sales were $1.030 billion compared with $1.038 billion in the year-earlier period. Analysts had expected revenue of $1.038 billion. Coach shares were up 4.9% in thin premarket trading following the report. The stock this year has lost 19%.

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From:: Stock Market News