Category: Stock Market News

The first 365 by Whole Foods Market location will open on May 25 in the Silver Lake section of Los Angeles, according to a Thursday release. The lower-priced complement to the original Whole Foods Market Inc. stores, ‘365’ will offer a number of features including online ordering and delivery through Instacart and partnerships with companies like Allegro Coffee Company. Two more 365 locations will open in 2016 in Bellevue, WA and Portland, OR. Whole Foods has signed 13 leases for 365 by Whole Foods Market locations, the company said in February. Whole Foods shares are up 0.9% in Thursday morning trading, but down 39.5% for the past year. The S&P 500 is down 1% for the past 12 months.

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Aeglea BioTherapeutics Inc. , a cancer and metabolism biotechnology company, priced its offering at $10 a share early Thursday morning, below its initial price range of $16 to $18. The company increased the number of shares it sold to 5 million from 3.5 million shares to raise about $50 million. The company is also giving the underwriters a 30-day option to buy up to 750,000 additional shares of its stock. UBS Investment Bank, BMO Capital Markets, Wells Fargo acted as joint book-running managers with Needham & Co. acting as co-manager.The company plans to begin trading shares on the Nasdaq Thursday.

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

Aeglea BioTherapeutics Inc. , a cancer and metabolism biotechnology company, priced its offering at $10 a share early Thursday morning, below its initial price range of $16 to $18. The company increased the number of shares it sold to 5 million from 3.5 million shares to raise about $50 million. The company is also giving the underwriters a 30-day option to buy up to 750,000 additional shares of its stock. UBS Investment Bank, BMO Capital Markets, Wells Fargo acted as joint book-running managers with Needham & Co. acting as co-manager.The company plans to begin trading shares on the Nasdaq Thursday.

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

Aeglea BioTherapeutics Inc. , a cancer and metabolism biotechnology company, priced its offering at $10 a share early Thursday morning, below its initial price range of $16 to $18. The company increased the number of shares it sold to 5 million from 3.5 million shares to raise about $50 million. The company is also giving the underwriters a 30-day option to buy up to 750,000 additional shares of its stock. UBS Investment Bank, BMO Capital Markets, Wells Fargo acted as joint book-running managers with Needham & Co. acting as co-manager.The company plans to begin trading shares on the Nasdaq Thursday.

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 lower on Thursday amid lower oil prices and fear-driven action in currency markets. The S&P 500 declined 10 points, or 0.5%, at 2,056. The Dow Jones Industrial Average dropped 93 points, or 0.5%, to 17,623. Meanwhile, the Nasdaq Composite fell 30 points, or 0.6%, to 4,890 at the open.

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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Shares of Twitter Inc. fell 3% in premarket trade Thursday after Morgan Stanley reduced its price target on the stock to $16 from $18 and cut estimates on user growth for the current year in half. The bank, which has an underweight rating on the stock, also reduced its bear-case price target to $8. Morgan Stanley analyst Brian Nowak said engagement and new user trends “remain troubling,” and that core user engagement on the platform “remains in decline.” The brokerage lowered its estimates on new user additions for 2016 to 2.6 million global monthly users from 5.2 million previously, and cut its 2017 estimate to 0.3 million from 3.4 million. The weak outlook comes despite Twitter’s new deal with the NFL to stream 10 Thursday night games. Shares of Twitter fell 2.7% premarket, putting the stock on track to open around $16.77. Its shares have fallen more than 67% from 12 months ago, while the S&P 500 is little changed.

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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ConAgra Foods Inc.’s stock rose 1.1% in premarket trade Thursday, after the packaged food company beat fiscal third-quarter profit and sales expectations. For the quarter ended Feb. 28, earnings were $204.6 million, or 46 cents a share, compared with a loss of $954.1 million, or $2.21 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share were 68 cents, above the FactSet consensus of 58 cents. Revenue rose to $2.92 billion from $2.91 billion, beating the FactSet consensus of $2.86 billion, with both consumer foods and commercial foods sales beating expectations. For the full year, the company expects adjusted EPS, which excludes results from the recent divestiture of its private label business, of $2.05 to $2.07. The stock has climbed 7.8% year to date through Wednesday, while the S&P 500 has gained 1.1%.

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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Victoria’s Secret said Thursday it will lay off 200 employees in Columbus and New York, as part of a restructuring aimed a streamlining the business through the elimination of certain merchandise categories. As part of the restructuring, the lingerie retailer, owned by L Brands Inc. , will reorganize into three business units–Victoria’s Secret Lingerie, Pink and Victoria’s Secret Beauty. “We are making these changes to accelerate our growth and to strengthen the business for the long term by narrowing our focus and simplifying our operating model,” said L Brands Chief Executive Leslie Wexner. Separately, L Brands said overall March sales rose 5% to $1.03 billion, while same-store sales increased 3%. The stock, which was still inactive in premarket trade, has dropped 10% year to date, while the S&P 500 has gained 1.1%.

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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Rite Aid Corp. reported Thursday fiscal fourth-quarter earnings that fell to $65.6 million, or 6 cents a share, from $1.84 billion, or $1.79 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share were 7 cents, above the FactSet consensus of 6 cents. Revenue for the drugstore chain, which is being acquired by Walgreens Boots Alliance Inc. , rose to $8.27 billion from $6.85 billion, but missed the FactSet consensus of $8.4 billion. Same-store sales declined 0.6%, compared with the FactSet consensus of a 1.8% increase, as both pharmacy and front-end sales unexpectedly fell. The stock, which was still inactive in premarket trade, has gained 3.7% year to date, while the S&P 500 has advanced 1.1%.

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McDonald’s Corp. said its chairman, Andrew McKenna, will not stand for re-election at the company’s annual shareholders meeting on May 26. His retirement comes after 25 years as a director and 12 years as chairman, according to a Wednesday release. The company will elect a new chairman after the election of directors at the shareholders meeting. McDonald’s stock closed Wednesday up 0.1% at $127.52. Shares are up 32.5% for the past year while the S&P 500 is down 0.7% for the same period.

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