Category: Stock Market News

Starbucks Corp said Tuesday that the pumpkin spice latte, or PSL, as fans call it, has officially launched nationwide for fall. The drink, which is was first conceived more than 14 years ago, is made with real pumpkin, espresso, steamed milk, a combination of spices including nutmeg and clove, whipped cream and pumpkin spice topping. The PSL and Teavana’s pumpkin spice chai tea latte will be available in the U.S. and Canada while supplies last. Starbucks shares are up 0.1% in premarket trading, and down 1.1% for the year so far. The S&P 500 index is up 10.6% for 2017 to date.

See also: Maple may end pumpkin spice’s dominance as fall’s favorite flavor

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Shares of Lululemon Athletica Inc. extended recent sharp gains in premarket trade Tuesday, after the yoga-gear seller was upgraded at Susquehanna Financial in the wake of better-than-expected fiscal second-quarter results. Analyst Sam Poser raised his rating to positive, after cutting it to neutral a little over five months ago. He raised his stock price target to $71, which is 15% above Friday’s closing price, from $64. Poser said Lululemon finally appears to have all aspects of its product, engagement and process (P-E-P) initiative working together to drive results, as the company’s densification store strategy is resonating. “A long awaited confluence of consumer engagement and efficient execution is now underway,” Poser wrote in a note to clients. “Improved product mix, inventory flow to stores is finally supporting consumer engagment.” The stock, which tacked on 0.4% in premarket trade, had run up 7.2% on Friday after the company reported results. The shares have shot up 17% over the past three months, while the SPDR S&P Retail ETF has lost 3.9% and the S&P 500 has gained 1.7%.

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Wal-Mart Stores Inc. [s:L wmt] said it has reopened all but five of its stores in the Gulf of Mexico region. The stores that have not opened were located along the coast where Hurricane Harvey made landfall. The company said it is accelerating deliveries of items like water, cleaning supplies, milk, socks and towels to the area. Wal-Mart is also helping at shelters in places like Houston, Dallas, and Shreveport, La., including pharmacy services at Kay Bailey Hutchison Convention Center in Dallas. Wal-Mart shares are unchanged in Tuesday premarket trading, and up 13.4% for the year so far. The S&P 500 index is up 10.6% for 2017 so far, and the Dow Jones Industrial Average is up 11.3% for the period.

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Nasdaq Inc. said Tuesday it will buy content and analytics company eVestment for $705 million. Nasdaq said it will fund the deal, which is expected to close in the fourth quarter, through a mix of cash on hand and debt. The company said eVestment has more than 2,000 clients, including 92% of the top asset managers. “As a trusted steward of the capital markets industry, we view our partnership with eVestment as a means of strengthening Nasdaq’s support of the investment management industry through enhanced technology and service offerings,” said Nasdaq Chief Executive Adena Friedman. Nasdaq’s stock, which was inactive in premarket trade, has climbed 12.3% year to date, while the S&P 500 has gained 10.6%.

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Cellect Biotechnology Ltd. shares rose 53% in premarket trade Tuesday after the Food and Drug Administration granted its ApoGraft technology orphan drug status to prevent transplant-associated diseases. Orphan drug designation is intended for products that treat a rare disease or condition; under the new designation, ApoGraft, a stem cell technology, should benefit from various development incentives, including tax credits. ApoGraft got the orphan drug designation for the prevention of acute and chronic graft versus host disease, or GvHD, which occurs in many kinds of transplants when transplanted immune cells attack the patient. The disease can seriously hurt or kill the transplant patient. Cellect’s technology should eliminate that immune response, the company said. Cellect shares have surged 6.7% over the last three months to $9.13, compared with a 1.7% rise in the S&P 500 .

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Houston-based Group 1 Automotive Inc. said Tuesday that it estimates total damages of about $15 million from Hurricane Harvey. The total includes insurance deductibles for damaged facilities and inventory, disaster pay for employees and support for team members with flooded homes. The automotive retailer said about 500 of the nearly 3,000 employees in the greater Houston and Beaumont areas of Texas suffered significant property losses from flooding and storm damage. “Our top priority is supporting our employees in the areas affected by Hurricane Harvey,” said Chief Executive Earl Hesterberg. “Beyond helping our employees, we are also moving quickly to get our stores fully online to support the community’s needs for replacement vehicles.” The stock, which was inactive in premarket trade, has tumbled 21% year to date, while the S&P 500 has gained 11%.

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Teleflex Inc. said Tuesday it will buy medical device company NeoTract Inc. in a deal valued at up to $1.1 billion. Under terms of the deal, Teleflex will pay $725 million in cash at the deal’s closing, and up to an additional $375 million if certain sales milestones are achieved. Teleflex plans to fund the acquisition through borrowings under its revolving credit facility. The deal is expected to add slightly to adjusted earnings per share this year. Teleflex’s stock, which was still inactive in premarket trade, had run up 31% year to date through Friday, while the S&P 500 has gained 10.6%.

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Russian President Vladimir Putin warned on Tuesday that ramped-up military action against North Korea could lead to large-scale suffering worldwide, according to media reports. Speaking at the BRICS summit in China, Putin argued Pyongyang is unlikely to bow to pressure from the West, as North Korean leader Kim Jong Un believes his nuclear missile program is the best way to ensure the isolated nation’s security. “Ramping up military hysteria in such conditions is senseless, it’s a dead end,” he said, according to reports. “It could lead to a global, planetary catastrophe and a huge loss of human life. There is no other way to solve the North Korean nuclear issue, save that of peaceful dialogue.” Tensions in the region escalated over the weekend after North Korea said it successful tested its largest hydrogen bomb to date. South Korean officials believe the regime is also preparing another intercontinental ballistic missile launch, possibly as early as this week.

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Shares of Merck KGaA climbed 2% in Frankfurt on Tuesday after the German pharmaceutical major put its consumer health business up for sale. In a statement the company said it’s “preparing strategic options” for the unit, including “potential full or partial sale of the business as well as strategic partnerships.” Merck didn’t give any reasons for putting the business on the market.

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The Duchess of Cambridge, Kate Middleton, is pregnant with her third child with husband Prince William, Kensington Palace said on Monday. As with her first two children — Prince George and Princess Charlotte — Kate is suffering from hyperemises gravidarum, or severe morning sickness, and is being cared for at Kensington Palace, according to a statement. The new baby will be fifth in line to the British throne, pushing Prince William’s younger brother, Harry, down the line of succession. Prince Charles, Queen Elizabeth II’s oldest son, is currently No. 1 in the succession line.

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