Category: Stock Market News

Shares in Nokia Corp. gained 1.4% in early trading Tuesday after the Finnish tech company announced plans to buy Withings SA, saying the move will accelerate its entry into the digital health business. Withings, a French company with about 200 employees, makes activity trackers, blood pressure monitors, home and baby monitors, thermometers and other devices that link to mobile apps. The cash deal values Withings at 170 million euros, or about $192 million, and is expected to close in this year’s third quarter.

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United Technologies Corp. late Monday said its board hiked the company’s dividend by 3%. The new 66-cents-a-share dividend is payable June 10 to shareholders of record as of May 20. United Technologies shares were flat at $105.20 after hours.

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Aratana Therapeutics Inc. shares rallied in the extended session Monday after the animal-drug maker said it entered a licensing agreement with Eli Lilly & Co’s Elanco animal health unit. Aratana shares surged 19% to $8.23 after hours. The company said Elanco is paying the company $45 million upfront for a collaboration, licensing, and development agreement connected to the company’s Galliprant dog osteoarthritis treatment. Aratana said the agreement also comes with a $75 million payment if certain sales milestones are met, as well as royalty payments from Elanco.

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Aratana Therapeutics Inc. shares rallied in the extended session Monday after the animal-drug maker said it entered a licensing agreement with Eli Lilly & Co’s Elanco animal health unit. Aratana shares surged 19% to $8.23 after hours. The company said Elanco is paying the company $45 million upfront for a collaboration, licensing, and development agreement connected to the company’s Galliprant dog osteoarthritis treatment. Aratana said the agreement also comes with a $75 million payment if certain sales milestones are met, as well as royalty payments from Elanco.

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

Aratana Therapeutics Inc. shares rallied in the extended session Monday after the animal-drug maker said it entered a licensing agreement with Eli Lilly & Co’s Elanco animal health unit. Aratana shares surged 19% to $8.23 after hours. The company said Elanco is paying the company $45 million upfront for a collaboration, licensing, and development agreement connected to the company’s Galliprant dog osteoarthritis treatment. Aratana said the agreement also comes with a $75 million payment if certain sales milestones are met, as well as royalty payments from Elanco.

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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Sanmina Corp. stock pushed higher by 7% in late trading Monday after the contract tech manufacturer showed off higher profits than expected. Sanmina’s earnings report showed profit of $30.36 million, or 39 cents a share, on sales of $1.61 billion; after adjustments for stock-based compensation and other factors, the company said it earned 63 cents per share. Analysts on average expected adjusted earnings of 56 cents a share on sales of $1.59 billion, according to FactSet, and Sanmina had predicted adjusted profit in a range of 55 cents to 59 cents a share. Sanmina Chief Executive Jure Sola noted that Sanmina had its highest earnings per share in more than a decade thanks to growth across market segments. “As we further diversify our business, we remain confident our financial results will continue to improve,” Sola said in Monday’s announcement.

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Container Store Group Inc. shares rallied in the extended session Monday after the storage and organization products retailer’s earnings outlook topped Wall Street estimates. Container Store shares jumped 22% to $7.10 after hours. The company forecast fiscal 2016 earnings of 20 cents to 30 cents a share on revenue of $830 million to $845 million. Analysts surveyed by FactSet had estimated earnings of 20 cents a share on revenue of $861.4 million. For the fiscal fourth quarter, Container Store reported earnings of 20 cents a share on revenue of $232.1 million. Analysts had forecast earnings of 20 cents a share on revenue of $230.8 million.

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U.S. stocks ended lower Monday, erasing some of their modest gains from last week, as investors awaited the conclusion of a Federal Reserve policy meeting later this week. A drop in oil prices and a spate of disappointing earnings reports weighed on shares, though analysts noted that moves were magnified by below-average trading volume. The S&P 500 slid 3.79 points, or 0.2%, to 2,087.81, as energy, materials and industrial shares underperformed. The Dow Jones Industrial Average lost 26.51 points, or 0.2%, to 17,977.24, with Caterpillar Inc. and Visa Inc. leading the decliners. The Nasdaq Composite fell 10.44 points, or 0.2%, to 4,895.79.

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Gold futures rose Monday, with the June contract on Comex rising $10.20, or 0.8%, to close at $1,240.20 an ounce. The bounce saw gold claim back just over half of Friday’s sharp fall. Analysts tied the rebound in part to renewed pressure on the U.S. dollar. A weaker U.S. currency is seen as a boost to commodities priced in dollars as it makes them cheaper in other currencies.

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CVS Pharmacy, the retail division of CVS Health , said it has voluntarily recalled cases of Gold Emblem Abound Organic Spiced Herbal Tea over concerns about a possible salmonella contamination. CVS was notified of the contamination risk after an ingredient produced by the manufacturer’s raw material supplier tested positive for salmonella in another product. The recall only impacts Gold Emblem Abound Organic Spiced Herbal Tea with the best-by date of March 18, 2018. About 200 units were sold before the recall was announced on Sunday. CVS said it is not aware of any reported cases of illness, has placed a “do not sell” block on the store register system, and has removed the products from shelves. Customers can return the product to stores for a refund. CVS Health shares are flat in Monday trading. Company shares are up 7.8% for the past three months, while the S&P 500 is up 10.8% for the same period.

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