Category: Stock Market News

Tupperware Brands Corp. said it had net income of $58.1 million, or $1.15 per share, in the fourth quarter, down from $82.3 million, or $1.63 per share for the same period last year. Adjusted earnings per share were $1.35, against a FactSet consensus of $1.38. Sales for the quarter totaled $592.1 million, down from $679.9 million. The FactSet consensus was $608 million. “We had a disappointing quarter as we lapped a tough comparison and continued to see an impact from economic and political headwinds in many of our units,” said Chief Executive Rick Goings. The company said that emerging markets accounted for 63% of sales, with Argentina, Brazil, China and Tupperware Mexico making the largest contributions. Tupperware expects sales for the first quarter of fiscal 2016 to decline between 10% and 12% with earnings per share between 74 cents and 79 cents. Tupperware shares are down 13.8% for the past 12 months while the S&P is down 6.2% for the same period.

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Ammon Bundy, the leader of an armed group that had occupied a federal wildlife refuge in central Oregon for more than three weeks, has been arrested along with a number of his followers following a shootout. The Oregonian reported that one man was killed in a clash with law enforcement officials during a traffic stop about 15 miles north of Burns, Oregon, on Tuesday afternoon.

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Citizens Financial Group Inc. shares rose in the extended session Tuesday after S&P Dow Jones Indices said it would add the regional bank to the S&P 500 Index . Citizens shares rose 3.8% to $21.06. The stock will be added to the index at the close of trading Jan. 29 to replace Precision Castparts Corp. , which is being acquired by Berkshire Hathaway Inc.

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U.S. Steel Corp. shares fell in the extended session Tuesday after the steel producer missed Wall Street estimates for the quarter. U.S. Steel shares dropped 10% to $7. The company reported an fourth-quarter loss of $6.83 a share on revenue of $2.57 billion. Analysts surveyed by FactSet had forecast a loss of 88 cents a share on revenue of $2.53 billion. Of U.S. Steel’s $999 million loss on the quarter, $606 million of that was the result of a tax provision, the company said.

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The American Petroleum Institute late Tuesday reported that crude supplies climbed by 11.4 million barrels for the week ended Jan. 22, according to sources who reviewed the report. The more closely watched EIA report is due Wednesday. On average, analysts polled by Platts show expectations for a crude supply increase of 3.5 million barrels. Following the API data, March crude was at $30.51 a barrel in electronic trading, down from the $31.45 settlement on Nymex.

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VMware Inc. shares rose in the extended session Tuesday after the virtualization software company topped Wall Street estimates and made good on reports of layoffs. VMware shares advanced 2.7% to $50.59. The company reported adjusted fourth-quarter earnings of $1.26 a share on revenue of $1.87 billion. Analysts surveyed by FactSet expected $1.25 a share on revenue of $1.85 billion. As expected from recent reports, VMware announced the “restructuring and realignment” of about 800 workers and the departure of chief financial officer and chief operating officer Jonathan Chadwick. Zane Rowe will serve as CFO, VMware said.

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Payments provider Tsys said Tuesday it has agreed to buy TransFirst, a Vista Equity Partners company, in an all-cash deal valued at about $2.35 billion. TransFirst serves more than 235,000 small- and medium-size businesses in the U.S. With the acquisition, Tsys will be the sixth largest U.S. acquirer based on net revenue, supporting more than 645,000 merchant outlets, the company said in a statement. Shares of Tsys rose 0.1% in late trading Tuesday after ending the regular session up 1.7%.

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Shares of AT&T Inc. slipped in Tuesday’s extended session after the telecommunications giant reported revenue that fell short of analysts’ expectations. Fourth-quarter earnings swung to a profit of $4 billion, or 65 cents a share, from a loss of $4 billion, or 77 cents a share, in the same quarter a year ago. Excluding items, AT&T would have earned 63 cents a share. Revenue climbed 22% to $42.1 billion, mostly due to its purchase of DirecTV. Analysts surveyed by FactSet had forecast earnings of 63 cents a share on revenue of $42.72 billion. The company also said it added net 2.8 million wireless subscribers during the quarter. AT&T shares fell 0.8% in after-hours trading.

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U.S. stocks ended higher on Tuesday, recovering nearly all the losses from the previous session. The main indexes tracked a rebound in oil prices, which lifted energy and materials shares. The S&P 500 gained 26.55 points, or 1.4%, to 1,903.63. The Dow Jones Industrial Average gained 282.01 points, or 1.8%, to 16,167.23. Meanwhile, the Nasdaq Composite ended the day up 49.18 points, or 1.1%, at 4,567.67.

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Wal-Mart Stores Inc. is urging shareholders to reject an unsolicited “mini-tender” offer from TRC Capital Corp. dated Jan. 20, 2016 for 2 million shares of the company’s common stock. The offer is for $59.88 per share, about 4.3% less than the closing price on Jan. 19. “Walmart is in no way associated with TRC and recommends that shareholders reject this unsolicited offer,” the company said in a release. Wal-Mart shares are trading up 0.8% on Tuesday, at about $64. Shares are up 10.2% for the past three months compared with the an 8.4% decline for the S&P 500 for the same period.

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