Category: Stock Market News

A U.S. Navy airplane flying to the USS Ronald Reagan aircraft carrier with 11 passengers and crew crashed into the Pacific Ocean on Wednesday, according to multiple published reports. Japan’s defense minister said eight of the people have been found, but it’s unclear if they’re alive, according to an AP report. The C-2 Greyhound plane, which was taking part in a joint U.S.-Japan naval exercise, went down in waters southeast of Japan’s Okinawa island and may have had engine trouble, a Reuters report said.

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Actor, singer and former teen idol David Cassidy died Tuesday at 67, his publicist announced. Cassidy suffered from dementia and died of organ failure, his publicist, Jo-Ann Geffen said. Known for his good looks and lush hair, Cassidy gained pop culture fame in the early 1970s as a co-star on the TV musical “The Partridge Family,” and in 1970 sang the No. 1 Billboard pop hit, “I Think I Love You.” “On behalf of the entire Cassidy family, it is with great sadness that we announce the passing of our father, our uncle, and our dear brother, David Cassidy,” his family said in a statement released by Geffen. “David died surrounded by those he loved, with joy in his heart and free from the pain that had gripped him for so long. Thank you for the abundance and support you have shown him these many years.”

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Special counsel Robert Mueller’s investigation into Russian election-meddling is looking into Jared Kushner’s interactions with foreign leaders before President Donald Trump’s inauguration, the Wall Street Journal reported Tuesday. That includes the role Kushner, a top White House adviser and Trump’s son-in-law, played in a United Nations dispute last December involving Israel. The incoming Trump administration had been asked by Israel to intervene to block a resolution condemning Israeli settlements in disputed territories. The resolution eventually passed, after the Obama administration did not move to block it. Kushner originally disclosed earlier this year on his security-clearance application he had no contacts with foreign government officials. He later amended that disclosure three times, admitting more than 100 contacts from more than 20 countries.

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Portola Pharmaceuticals Inc. shares declined in the extended session Tuesday after the drug maker said the Food and Drug Administration needs more time to review company manufacturing changes to a drug already approved. Portola shares declined 3.5% to $49.01 after hours. Portola said the FDA needs time to review the entire Prior Approval Supplement submission for Bevyxxa, approved to treat venous thromboembolism patients in June. The review time pushes out the release of Bevyxxa to February, given that the FDA is required to act by Jan. 30.

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TiVo Corp. shares rallied in the extended session Tuesday after the digital video company won a federal patent ruling against Comcast Corp. . Shares of TiVo surged 6.8% to $18.85 after hours, while Comcast shares were up 0.1% at $36.45. Late Tuesday the U.S. International Trade Commission ruled that Comcast set-top boxes violated two patents of Rovi Corp., owned by TiVo. “Rovi is pleased the International Trade Commission issued its final ruling in our favor and found that two Rovi patents are valid and infringed by Comcast’s X1 products, and issued an exclusion order that bans Comcast from importing and selling X1 devices that infringe our valuable intellectual property,” TiVo said in an emailed statement.

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Uber Technologies Inc. was hit by a data breach that affected 57 million passengers and drivers in October 2016, and the company has fired its chief security officer and other employees after they kept the incident private, according to a Tuesday report. Names, email addresses and phone numbers of about 50 million passengers were potentially accessed in the breach, along with personal information on 7 million drivers. Uber paid $100,000 to attackers to delete the data and stay quiet, Bloomberg News reported, which the board discovered after starting an inquiry into the company’s security operations last month. Chief Security Officer Joe Sullivan resigned at the new CEO’s request and one of his deputies was dismissed as a result, Bloomberg reported. “None of this should have happened, and I will not make excuses for it,” Uber Chief Executive Dara Khosrowshahi told Bloomberg in a statement. “We are changing the way we do business.” Khosrowshahi’s deposed predecessor, Uber founder Travis Kalanick, reportedly found out about the hack and response in November 2016. Uber did not immediately respond to a request for confirmation and comment.

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The American Petroleum Institute reported Tuesday that U.S. crude supplies dropped by 6.4 million barrels for the week ended Nov. 17, according to sources. The API data also showed a rise of 869,000 barrels in gasoline stockpiles, while inventories of distillates fell by 1.7 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a decline of 2.1 million barrels for crude inventories. They also forecast a rise of 1 million barrels for gasoline and a draw of 1.8 million barrels for distillate supplies. January crude was at $57.10 a barrel in electronic trading, up from the settlement of $56.83 on the New York Mercantile Exchange.

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Shares of Guess Inc. fell 12% late Tuesday after the retailer reported third-quarter sales that missed Wall Street expectations. Guess said it lost $2.9 million, or 4 cents a share, versus earnings of $9.1 million, or 11 cents a share, in the year-ago period. Adjusted for one-time items, Guess earned $10.4 million, or 12 cents a share, compared with $9.6 million, or 11 cents a share a year ago. Sales rose 3.3% to $554 million, compared with $536 million a year ago. Analysts surveyed by FactSet had expected adjusted earnings of 12 cents a share on sales of $564 million. Retail revenue in the Americas fell 11%, offset by increases in Europe and Asia, the company said.

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Gamestop Inc. shares rose in the extended session Tuesday after the videogame retailer topped Wall Street estimates for the quarter. Gamestop shares rose 3.4% to $17.29 after hours. The company reported third-quarter net income of $59.4 million, or 59 cents a share, compared with $50.8 million, or 49 cents a share, in the year-ago period. Adjusted earnings were 54 cents a share. Revenue rose to $1.99 billion from $1.96 billion in the year-ago period. Analysts surveyed by FactSet had estimated 42 cents a share on revenue of $1.96 billion. For the year, Gamestop estimates earnings of $3.10 to $3.40 a share, while analysts expect earnings of $3.31 a share.

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President Donald Trump said Tuesday Alabama Senate candidate Roy Moore “totally denies” sexual misconduct allegations against him. Speaking to reporters before departing the White House, Trump said “40 years is a long time,” referring to the allegations — and that he didn’t believe voters should pick a Democrat. He also weighed in on the AT&T , Time Warner deal, saying it’s not good for the country.

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