Foreclosures | Mortgages | Financing
Target Corp. said Thursday it is raising its quarterly dividend by 7.1% to 60 cents a share from 55 cents. The new dividend will be payable Sept. 10 to shareholders of record as of Aug. 17. Shares were not yet active in premarket trade, but are down 6% in the year so far, while the S&P 500 has gained 3.3%.
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.
From:: Stock Market News
UnitedHealth Group Inc. said Wednesday it will raise its quarterly dividend 25% to 62.5 cents a share from 50 cents. The new dividend will be payable June 28 for shareholders of record on June 17. Based on the stock’s closing price of $136.94 on Tuesday, the new dividend would imply an annual dividend yield of 1.83%, compared with an aggregate Dow Jones Industrial Average yield of 2.49%, according to FactSet. The stock, which was still inactive in premarket trade, has run up 16% year to date, while the Dow has gained 3%.
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.
From:: Stock Market News
Hillary Clinton won the California Democratic primary, the Associated Press and CNN projected early Wednesday. Clinton declared victory in the Democratic presidential primary Tuesday night after several states voted, saying her win “belongs to generations of women and men who struggled and sacrificed and made this moment possible.” As of Tuesday night, her rival Bernie Sanders said he was staying in the race.
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.
From:: Stock Market News
Tesco PLC is poised to announce it has sold its Giraffe chain of U.K. restaurants and its Turkish business Kipa, Sky News has reported. The deals could be made public as early as Wednesday, Sky said in its report Tuesday, citing sources. The supermarket giant plans to sell Kipa to Turkish counterpart Migros Ticaret , Sky said. Tesco is in the middle of an effort to refocus on its main food business after the retailer was hit by an accounting scandal. Tesco shares were up 0.9% as supermarket stocks rallied in London on the back of the release of fresh sales figures.
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.
From:: Stock Market News
Valeant Pharmaceutical International Inc. filed a long-overdue quarterly report late Tuesday a few days after receiving a default notice. Valeant shares ticked up 0.2% to $24.70 after hours. On Thursday, Valeant said it had received a default notice under two of its senior note indentures because of the late filing. The company filed its late annual report in April. Shares dropped nearly 15% during Tuesday’s regular session after the drug maker slashed its outlook for the year.
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.
From:: Stock Market News
Oxford Industries Inc. shares fell in the extended session Tuesday after the owner of the Lilly Pulitzer and Tommy Bahama brands missed Wall Street earnings estimates and lowered its outlook for the year. Oxford shares dropped 7.1% to $60.50 after hours. The company reported adjusted first-quarter earnings of $1.26 a share on revenue of $256.2 million. Analysts surveyed by FactSet had estimated $1.33 a share on revenue of $270.4 million. For the year, Oxford lowered its adjusted profit outlook to a range of $3.65 to $3.80 a share from a previous range of $3.75 to $3.95 a share. Analysts had forecast $4.01 a share. “Clearly, our businesses were impacted by the well-publicized weakness in the retail environment, particularly in fashion apparel,” said Thomas Chubb, Oxford chairman and chief executive, in a statement.
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.
From:: Stock Market News
Oxford Industries Inc. shares fell in the extended session Tuesday after the owner of the Lilly Pulitzer and Tommy Bahama brands missed Wall Street earnings estimates and lowered its outlook for the year. Oxford shares dropped 7.1% to $60.50 after hours. The company reported adjusted first-quarter earnings of $1.26 a share on revenue of $256.2 million. Analysts surveyed by FactSet had estimated $1.33 a share on revenue of $270.4 million. For the year, Oxford lowered its adjusted profit outlook to a range of $3.65 to $3.80 a share from a previous range of $3.75 to $3.95 a share. Analysts had forecast $4.01 a share. “Clearly, our businesses were impacted by the well-publicized weakness in the retail environment, particularly in fashion apparel,” said Thomas Chubb, Oxford chairman and chief executive, in a statement.
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.
From:: Stock Market News
Catabasis Pharmaceuticals Inc. shares dropped in the extended session Tuesday after the tiny biotech said its high-cholesterol treatment did not meet the primary goal of lowering bad cholesterol in patients already taking medication for the condition. Catabasis shares, which had been briefly halted at $6.85, tumbled 51% to $3.35 after hours on light volume. The company said that it does not expect to invest further resources in the drug candidate known as CAT-2054.
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.
From:: Stock Market News
Oil futures edged up in electronic trading Tuesday after the American Petroleum Institute reported that U.S. crude supplies fell by 3.6 million barrels for the week ended June 3, according to sources who reviewed the report. Analysts polled by S&P Global Platts forecast a decline of 3.4 million barrels for crude inventories. The closely watched Energy Information Administration report will be released Wednesday. August crude was at $50.43 a barrel in electronic trading, up from the contract’s settlement of $50.36 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.
From:: Stock Market News
VeriFone Systems Inc. stock fell more than 20% in late trading Tuesday after the company reported disappointing quarterly earnings, announced layoffs and reduced its annual forecast. The payment-systems company reported profit of 3 cents a share on sales of $526 million; after adjustments, VeriFone claimed profit of 47 cents a share. Analysts polled by FactSet expected earnings of 52 cents a share on sales of $530 million, and VeriFone had forecast profit of 51 cents to 52 cents a share. Citing “difficult market dynamics,” VeriFone Chief Executive Paul Galant brought down the company’s forecast for the 2016 fiscal year and said headcount would be cut to save $30 million in 2017. “We are aggressively executing mitigating actions including a headcount restructuring and a review of underperforming businesses,” Galant said in the announcement. The company now expects profit of $1.85 a share on sales of $2.1 billion, down from a projection of $2.21 to $2.24 a share in profit on sales of $2.15 billion to $2.17 billion. VeriFone shares plunged to less than $21.50 after closing with a 1.3% gain at $28.22.
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.
From:: Stock Market News