Category: Stock Market News

IMAX Corporation announced Wednesday the addition of up to 12 new films to screen in its partnership with Warner Bros. Pictures. IMAX has added releases of Kong: Skull Island, Blade Runner 2049, Tomb Raider, Ready Player One, The LEGO Batman Movie and the sequel to Fantastic Beasts and Where to Find Them, among others. IMAX has had a 13 year partnership with Warner Bros. Shares of IMAX were up 1% in premarket trade Wednesday. IMAX shares have lost 15% year-to-date, compared to the S&P 500’s gain of 5%.

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

Merck & Co. said Wednesday morning that its investigational antiviral medicine met its primary endpoint in a phase 3 trial. The treatment, letermovir, is being tested to prevent infection in stem cell transplant recipients. The drug has special status in the U.S. and elsewhere as an orphan product intended for a rare disease or condition, and was granted fast track status by the Food and Drug Administration, which speeds up the development and approval process. Merck shares rose 5.9% over the last three months, compared with a 1.1% decline 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

The New York Times has named A.G. Sulzberger as deputy publisher of the business effective November 1, the company said Wednesday. A.G. Sulzberger, son of publisher Arthur Sulzberger, Jr., was most recently the associate editor for strategy and began working at the Times in 2009. A.G. Sulzberger will report to the publisher and work alongside the copmany’s chief executive, executive editor and editorial page editor. Shares of the New York Times have fallen 10% in the past three months, compared to the S&p 500’s drop of 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

Tupperware Brands Corp. said Wednesday it had third-quarter net income of $48.8 million, or 96 cents per share, up from $36.2 million, or 72 cents per share, for the same period last year. Adjusted EPS of 87 cents per share beat the FactSet consensus of 80 cents. Sales for the quarter of $521.8 million were up from $521.0 million last year, but missed the FactSet estimate of $530.0 million. The company sees fourth-quarter sales growth between 5% and 7% and earnings per share between $1.34 and $1.39. The FactSet consensus is $1.44. Tupperware shares are inactive in premarket trading, and up 16% for the year so far. The S&P 500 Index is up 4.7% for 2016 to date.

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

Reynolds American missed third-quarter earnings and revenue expectations Wednesday. The company reported net income of $861 million, or 60 cents per share, up from $657 million, or 46 cents per share, in the year-earlier period. It reported adjusted earnings per share of 61 cents, below the FactSet consensus of 64 cents. Reynolds American reported revenue of $3.21 billion, up from $3.16 billion in the year-earlier period, but below the FactSet consensus of $3.31 billion. The company also announced it has named Debra A. Crew, current president and chief operating officer, as its chief executive starting January 1. Shares of Reynolds American have fallen 10% in the past three months, compared to the S&P 500’s drop of 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

Henry Schein Inc. said Wednesday it has added $400 million to its share buyback program, adding to a $400 million program announced in Dec. 2015, which currently has about $29 million remaining. The maker of health products for dental, animal health and medical practitioners, said it had about 82 million shares outstanding as of July 27. Shares rose slightly premarket, but are down 3% in the year so far, while the S&P 500 has gained 4.5%.

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

Saudi Arabia’s oil minister Khalid Al-Falih said on Wednesday many countries outside the Organization of the Petroleum Exporting Countries are willing to join an output deal to help stabilize the oil market. Speaking at the “Oil & Money” conference in London on Wednesday, the Saudi official said many discussions are going on behind the scenes about how to implement the deal agreed in Algiers last month, striking an upbeat tone the pact will go through. “Non-OPEC is showing willingness to join this effort. And without mentioning names, many countries have said they are willing to not only freeze, but cut at healthy levels that will match whatever is going to happen by OPEC,” he said. Russian President Vladimir Putin last week said his country was ready to support a production accord to limit output. Oil prices jumped on Wednesday following Al-Falih’s comments, with crude oil up 1.5% at $51.06 a barrel.

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

Cree Inc. shares fell in the extended session Tuesday after the light-emitting diode maker’s outlook fell below Wall Street estimates. Cree shares fell 9.3% to $22.86 after hours. For the fiscal second quarter, Cree forecast adjusted earnings from continuing operations of 4 cents to 10 cents a share, while analysts surveyed by FactSet were looking for 16 cents a share. The company reported adjusted fiscal first-quarter earnings of 15 cents a share on revenue of $321.3 million. Analysts surveyed by FactSet had forecast earnings of 13 cents a share on revenue of $364.8 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 class action suit has been filed against Samsung Electronics Co. in the U.S. by consumers who were not happy with the way the tech giant dealt with its combusting Galaxy Note 7, The Wall Street Journal reported Tuesday. The suit, filed in New Jersey federal court, alleges that Samsung’s bungling of the recall cost owners of the smartphones millions of dollars and accused the company of “breach of warranty, breach of good faith and common law fraud,” the newspaper said. The lawsuit, dated Oct. 16, follows on the heels of a decision by the Korean company to halt production of the Galaxy Note 7 after reports that replacement devices were also catching fire.

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

Apple Inc. will show off new Mac personal computers at an event Oct. 27, Recode reported Tuesday afternoon. Sales of Apple’s line of PCs languished in the back-to-school quarter, according to third-party reports released last week, and analysts said the lack of new Mac models likely contributed to a downturn in sales. Apple originally scheduled its earnings report for Oct. 27, but later moved it to Oct. 25 citing a scheduling conflict. Apple declined to comment to Recode for its 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.

…read more

From:: Stock Market News