Category: Stock Market News

Sotheby’s reported Friday a fourth-quarter loss of $11.2 million, or 17 cents a share, compared with a profit of $74 million, or $1.06 a share, in the same period a year ago. Excluding non-recurring items, such as a one-time tax charge for the planned repatriation of foreign earnings, adjusted earnings per share came to $1.19, above the FactSet consensus of $1.05. Revenue fell to $335.8 million from $351.2 million, but beat the FactSet consensus of $331.1 million, helped by a less-than-expected decline in agency commission and fees. “We will likely have one or more difficult quarters as we ride through the current cycle, but we are being careful on guarantees and capital commitments, watching our liquidity carefully, continuing to invest in the people and capabilities that will drive our future success, and taking the opportunity with our excess cash to repurchase shares,” said CHief Executive Tad Smith. The stock, which was still inactive in premarket trade, has tumbled 45% over the past year, while the S&P 500 has lost 7.5%.

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Sotheby’s reported Friday a fourth-quarter loss of $11.2 million, or 17 cents a share, compared with a profit of $74 million, or $1.06 a share, in the same period a year ago. Excluding non-recurring items, such as a one-time tax charge for the planned repatriation of foreign earnings, adjusted earnings per share came to $1.19, above the FactSet consensus of $1.05. Revenue fell to $335.8 million from $351.2 million, but beat the FactSet consensus of $331.1 million, helped by a less-than-expected decline in agency commission and fees. “We will likely have one or more difficult quarters as we ride through the current cycle, but we are being careful on guarantees and capital commitments, watching our liquidity carefully, continuing to invest in the people and capabilities that will drive our future success, and taking the opportunity with our excess cash to repurchase shares,” said CHief Executive Tad Smith. The stock, which was still inactive in premarket trade, has tumbled 45% over the past year, while the S&P 500 has lost 7.5%.

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A mass shooting in Kansas has left four people dead and 18 wounded, according to authorities. The Associated Press reported “a number of crime scenes” in a series of shootings in and around an Excel Industries plant in Hesston, Kansas. Excel makes riding lawn mowers in the small town north of Wichita. Law enforcement officials said the gunman was shot and killed by police, and was an employee of Excel. Harvey County Sheriff T. Walton said at a news conference the suspect, who has not been identified, killed three people, and at one point was shooting at people as he drove in his car. “Apparently right now it all looks random,” Walton said.

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A mass shooting in Kansas has left up to four people dead and as many as 20 wounded, according to reports. The Associated Press reports “a number of crime scenes” in a series of shootings, including at an Excel Industries plant in Hesston, Kansas. Law enforcement officials said the gunman was shot and killed by police, and was an employee of Excel. Harvey County Sheriff T. Walton said at a news conference that “as many” as three to four people were killed, including the suspect.

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Stamps.com Inc. shares rallied in the extended session Thursday after the Internet-based postage service topped Wall Street estimates for the quarter. Stamps.com shares surged 21% to $116.61 after hours. The company reported adjusted fourth-quarter revenue of $1.57 a share on revenue of $69.9 million. Analysts surveyed by FactSet had forecast earnings of 95 cents a share on revenue of $58.4 million. For the year, the company sees adjusted earnings of $5 to $5.50 a share on revenue of $290 million to $300 million, while analysts expect $5.46 a share on revenue of $346.6 million.

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Shares of Herbalife Ltd. rose in Thursday’s extended session after the nutritional-products company posted better-than-projected quarterly results. Herbalife reported its fourth-quarter earnings fell to $84.5 million, or 98 cents a share, from $103.3 million, or $1.21 a share, a year ago. On an adjusted basis, the company would have earned $1.19 a share. Revenue slid to $1.1 billion from $1.13 billion a year ago. Analysts surveyed by FactSet had projected earnings of 94 cents a share on revenue of $1.06 billion. Herbalife forecast first-quarter adjusted EPS of 97 cents to $1.07, which is below analysts’ average estimate of $1.09 a share. The company also expects revenue to decrease 3% to 6%. Herbalife has been fighting a war of words with hedge fund manager Bill Ackman, who has characterized the company as a pyramid scheme. Shares gained 2.2% in after-hours trading.

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Ralph Lauren Corp. said Thursday that Christopher Peterson has decided to leave the company effective May 31, barely a year into his tenure as president of global brands. That position, created in April, is being eliminated, the company said. Global brands will respond directly to Chief Executive Stefan Larsson, “streamlining the senior leadership and giving Mr. Larsson direct oversight of brands,” the retailer said. Peterson joined Ralph Lauren in 2012 and prior to the April appointment had been the retailer’s executive vice president and chief financial officer, among other duties. Shares of Ralph Lauren fell 1% in late trading Thursday after ending the regular trading session up 2.2%.

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Ralph Lauren Corp. said Thursday that Christopher Peterson has decided to leave the company effective May 31, barely a year into his tenure as president of global brands. That position, created in April, is being eliminated, the company said. Global brands will respond directly to Chief Executive Stefan Larsson, “streamlining the senior leadership and giving Mr. Larsson direct oversight of brands,” the retailer said. Peterson joined Ralph Lauren in 2012 and prior to the April appointment had been the retailer’s executive vice president and chief financial officer, among other duties. Shares of Ralph Lauren fell 1% in late trading Thursday after ending the regular trading session up 2.2%.

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Shares of Monster Beverage Corp. slid in Thursday’s extended session after the energy-drink maker reported quarterly results and a stock repurchase program of up to $1.75 billion. Monster Beverage reported fourth-quarter earnings of $138.7 million, or 67 cents a share, compared with $125.3 million, or 72 cents a share, a year ago. Revenue rose 6.6% to $645.4 million. Analysts surveyed by FactSet had projected earnings of 82 cents a share on revenue of $700 million. Monster Beverage shares fell 5.7% in after-hours trading.

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Weight Watchers International Inc. shares dropped in the extended session Thursday after the weight-loss program company reported a surprise loss for the quarter. Weight Watchers shares fell 18% to $12.85 after hours on heavy volume. The company reported an adjusted fourth-quarter loss of 3 cents a share on revenue of $259.2 million. Analysts surveyed by FactSet had forecast earnings of 2 cents a share on revenue of $257 million. Weight Watchers forecast 2016 earnings of 70 cents to $1 a share, while analysts are looking for 83 cents a share.

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