Category: Stock Market News

Splunk Inc. shares rallied in the extended session Thursday after the data-analytics software company topped Wall Street estimates for the quarter and raised its outlook. Splunk shares surged 7.8% to $65 after hours. The company reported a second-quarter loss of $83.5 million, or 60 cents a share, compared to a loss of $86.6 million, or 65 cents a share, in the year-ago period. Adjusted earnings were 8 cents a share. Revenue rose to $280 million from $212.8 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 6 cents a share on revenue of $268.8 million. For the year, Splunk estimates revenue of $1.21 billion to $1.22 billion, up from a previous estimate of just under $1.2 billion. Analysts had forecast revenue of $1.2 billion.

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VMware Inc. shares jumped in the extended session Thursday after the company’s second-quarter earnings beat Wall Street expectations. VMware shares rose 1.3% to $102.11 after hours. The virtualization company’s net income rose to $334 million, or 81 cents a share, compared to $265 million, or 62 cents a share, in the year-ago period. Adjusted earnings were $1.19 a share. Revenue increased 12% to $1.9 billion from $1.69 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $1.15 a share on revenue of $1.88 billion. Analysts model third-quarter adjusted earnings of $1.28 a share on sales of $$1.93 billion. VMware stock has gained 38.4% year-to-date, while the S&P 500 index has gained 8.9%.

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Shares of Ulta Beauty Inc. tanked late Thursday after the retailer posted quarterly earnings above Wall Street expectations but its sales growth slowed year-on-year. The company said it earned $114 million, or $1.83 a share, in the second quarter, compared with $90 million, or $1.43 a share, in the second quarter of 2016. Sales rose 21% to $1.29 billion, from $1.07 billion a year ago. Analysts polled by FactSet had expected earnings of $1.78 a share on sales of $1.28 billion. Comparable-store sales rose 12%, in line with Wall Street expectations but compared to an increase of 14% in the second quarter of 2016. Ulta said it expects net sales in the range of $1.33 billion to $1.35 billion for the third quarter, which would be up from $1.13 billion in the third quarter of fiscal 2016. Comparable sales for the third quarter of 2017, including e-commerce sales, are expected to increase 9% to 11%. The company reported a comparable sales increase of 16.7% in the third quarter of 2016. For full-year fiscal 2017, the company aimed for comparable-store sales growth between 10% and 11%, compared with a previous guidance of growth between 9% and 10%. Shares ended the trading day up 0.7%.

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Shares of news and publishing company McClatchy Co. were up as much as 12% in afternoon trade on Thursday. There was no obvious news surrounding the company. Market insiders seem to believe the move was related to investors covering short positions. Shares of McClatchy have declined nearly 49% in the year to date and 61% in the last 12 months. By comparison, the S&P 500 index has gained 9% in the year and more than 12% in the last 12 months.

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Oil settled lower Thursday, pressured as expectations that Hurricane Harvey in the Gulf of Mexico may weaken demand for energy outweighed support from production slowdowns in the region. Natural-gas prices, however, inched a bit higher, while gasoline prices rallied on potential disruptions to processing facilities and refineries. October West Texas Intermediate crude lost 98 cents, or 2%, to settle at $47.43 a barrel on the New York Mercantile Exchange. September natural gas ended at $2.949 per million British thermal units, up 2.1 cents, or 0.7%, and September gasoline jumped 4.5 cents, or 2.8%, to end at $1.664 a gallon-the highest finish for this month to date.

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Grocery retailer shares are all negative after Amazon.com Inc. and Whole Foods Market Inc. announced changes starting Monday, when Amazon’s acquisition of the organic and natural grocer is slated to be complete. Kroger Co. shares are down nearly 4%, Sprouts Farmers Market’s and Costco Wholesale Corp.’s stocks are down 3.1%, and Wal-Mart Stores Inc. is down 2%. Amazon and Whole Foods announced that, starting Monday, the prices on some items, such as organic avocados, organic salmon and baby lettuce will come down. The company will also begin integrating Amazon Prime into Whole Foods’ system. The PowerShares Dynamic Food & Beverage Portfolio is down 4.2% for the year so far, while the S&P 500 index is up 9% for the period.

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Time Warner Inc.-owned HBO said on Thursday it’s decided to renew its brand new anthology series “Room 104” for a second season. “Room 104,” from brothers Jay and Mark Duplass, tells a different story each week from different eras of the people who pass through a single room of a motel. The episodes range from comedy to drama to horror. “Jay and Mark Duplass are gifted storytellers who have brilliantly reinvented the anthology series for the modern era,” said Amy Gravitt, executive vice president of HBO programming. “The format of ‘Room 104’ offers endless possibilities and opportunities for new talent to experiment, and I look forward to seeing where the series takes us.” The show has been critically praised so far in its first season. Shares of Time Warner have gained 5% in the year to date, while the S&P 500 index is up 9%.

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Amazon.com Inc.’s acquisition of Whole Foods Market Inc. will close on Monday, August 28, and prices on items including organic avocados, bananas, organic baby kale and organic salmon will come down on that day. The goal, according to a Thursday release from both companies, is to “make organic food more affordable for everyone.” The companies will also start to integrate Amazon Prime into Whole Foods’ point-of-sale system on Monday. “[W]e will make Amazon Prime the customer rewards program at Whole Foods Market and continuously lower prices as we invent together,” said Jeff Wilke, CEO of Amazon worldwide consumer, in a statement. Also in the future, Whole Foods private label products like 365 Everyday Value and Whole Paws will be available through Amazon, AmazonFresh, Prime Pantry and Prime Now. And Amazon lockers will be available at select Whole Foods stores. The companies say they will hire additional staff as new stores open, and Whole Foods will continue to operate beneath that brand. John Mackey will stay on as chief executive and the Whole Foods headquarters will remain in Austin, TX. Amazon shares are up nearly 27% for the year so far, Whole Foods shares are up 36.5% for the period, and the S&P 500 index is up 9.1% for 2017 to date.

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Wal-Mart Stores Inc. said Thursday that it is launching Express Money Services in West Virginia, the first of two such “experiences” rolling out this year. Express Money Services is a new feature on the Walmart app that is combined with Express Lanes available in stores to help expedite transactions. Express Lanes are available at the majority of Walmart stores, the company says. Walmart is waiving fees on Walmart2Walmart domestic money transfers that start on the app through September 30 to celebrate the launch. The service is available for domestic and international money transfers to start, and will expand to include bill payments and check cashing. Wal-Mart says this express service is similar to one that will be available for pharmacy customers later this year. Wal-Mart shares are down 0.2% in Thursday trading, but up 15.5% for the year so far. The S&P 500 index is up 9% for 2017 to date, and the Dow Jones Industrial Average is up 10.4% for the period.

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Perry Ellis International Inc. joins a slew of other retailers whose shares jumped in Thursday trading after reporting second-quarter results that beat expectations. Perry Ellis shares are up 11%. Its portfolio of brands includes its namesake, Laundry by Shelli Segal and Jantzen, . The company also has licensing deals for Nike Inc. , PGA Tour, and other labels. The clothing, accessories and fragrance company reported net income of $979,000, or 6 cents per share, after a loss of $3.57 million, or 24 cents per share, for the same period last year. Adjusted EPS of 16 cents beat the FactSet consensus of 10 cents per share. Revenue totaled $206.6 million, up from $201.7 million last year and ahead of the $204.0 million FactSet consensus. Perry Ellis reiterated its fiscal 2018 guidance for revenue in the range of $870 million to $880 million, and EPS in the range of $2.07 to $2.17. The FactSet consensus is for revenue of $878.5 million and EPS of $2.13. Perry Ellis shares are up 4.3% for the last three months, but down 23.1% for the year so far. The S&P 500 index is up 9.3% for 2017 to date.

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