Category: Stock Market News

Newspaper publisher Gannett Co. Inc. on Thursday reported a profit for the second quarter that came in above Wall Street’s expectations. The company reported a net loss of $487,000 for the quarter, or breakeven earnings per share, after reporting net income of $12.5 million, or 10 cents per share during the year-earlier period. Adjusted earnings per share were 18 cents per share, above FactSet’s 17 cents consensus. Total revenue for the quarter was $774.5 million, up from $748.8 million a year, but below FactSet’s consensus of $783.0 million. Advertising revenue in the quarter was $445.2 million, with digital advertising revenue increasing 1.3%. Gannett maintained its full-year guidance for $3.15 billion to $3.22 billion in revenue while increasing expectations for adjusted EBITDA in the range of $360 million to $365 million, up from its prior guidance of $355 million to $365 million. Shares of Gannett were inactive in premarket trade, but have declined nearly 13% in the year to date, while the S&P 500 index is up almost 11%.

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Shares of Yum! Brands rose 0.5% before the market opened on Thursday as the company reported earnings that beat estimates. Second-quarter net income came to $206 million, or 58 cents per share, the company said, down from $336 million, or 64 cents per share, in the year-ago period. Adjusted EPS came to 68 cents, beating the FactSet consensus of 61 cents. Total revenue was $1.45 billion, compared to $1.51 billion a year ago and above the FactSet consensus of $1.42 billion. Worldwide same-store sales rose 2%, the company said, also beating analysts’ estimates of a 1.8% increase. Pizza Hut same-store sales fell 1%, versus the FactSet consensus for a 1.4% decline. Taco Bell same-store sales rose 4%, lower than the FactSet consensus for a 5.4% increase. KFC same-store sales rose 3%, better than analysts’ forecasts of a 2.3% increase. The company said it was maintaining full-year guidance. Yum! shares have gained 21% in the year to date, compared to a 10.7% gain for the S&P 500 .

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Dish Network Corp. reported a second-quarter net profit of $40 million, or 9 cents a share, down from $424 million, or 91 cents a share, in the same period a year ago. The FactSet consensus was for earnings per share of 74 cents. Revenue fell to $3.64 billion from $3.86 billion, missing the FactSet consensus of $3.72 billion, as subscriber-related revenue dropped to $3.61 billion from $3.83 billion. The company activated 444,000 gross new Pay-TV subscribers, down from 527,000 a year ago. The stock, which was still inactive in premarket trade, has rallied 10.5% year to date through Wednesday, while the S&P 500 has gained 10.7%.

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Shares of Aetna Inc. rose 3.1% in premarket trade on Thursday after the health care company’s second-quarter earnings beat analyst forecasts. Profit for the quarter came in at $1.2 billion, or $3.60 a share, up from $791 million, or $2.23 a share, a year ago. On an adjusted basis, profit rose to $1.1 billion, or $3.42 a share, from $783 million, or $2.21 a share. Analysts polled by FactSet expected adjusted EPS of $2.37. Revenue slipped 3% to $15.52 billion from $15.95 billion last year.

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U.S. Attorney General Jeff Sessions has been told that his job is safe by new White House chief of staff John Kelly, according to multiple reports Wednesday. The Associated Press reported that Kelly called Sessions on Saturday to reassure him that President Donald Trump would not fire him, nor did he want Sessions to resign. ABC News and Politico later confirmed the report. Although Sessions was one of Trump’s earliest and most loyal supporters, Trump has been critical of Sessions in recent weeks, saying that he wouldn’t have named him attorney general if he had known Sessions would recuse himself from the Russian election-meddling investigation. Firing Sessions could have caused a political firestorm if its intent was seen as obstructing the Russia probe being conducted by special counsel Robert Mueller.

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President Donald Trump is frustrated by setbacks in Afghanistan, and suggested firing the top U.S. general in the region, according to a report late Wednesday by NBC News. During a July 19 meeting with top military advisers, Trump repeatedly said Gen. John Nicholson should be replaced because he’s not winning the war, sources told NBC News. Defense Secretary James Mattis was reportedly upset after the meeting. On Wednesday, national security adviser H.R. McMaster, who also had attended the meeting, praised Nicholson during an interview on MSNBC, calling him a “capable commander.” Trump also reportedly asked why the U.S. is not benefiting from Afghanistan’s mineral wealth. In June, Trump gave the Pentagon authority to boost troop levels in Afghanistan. Two American servicemembers were killed Wednesday in Afghanistan in a suicide attack on a convoy. The Taliban claimed responsibility.

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Tableau Software Inc. shares rose in the extended session Wednesday after the data analytics company posted a surprise profit for the quarter. Tableau shares surged 6.1% to $67.90 after hours. The company reported a second-quarter loss of $42.5 million, or 54 cents a share, compared to a loss of $47.5 million, or 64 cents a share, in the year-ago period. Adjusted earnings were 10 cents a share. Revenue rose to $212.9 million from $198.5 million in the year-ago period. Analysts surveyed by FactSet had estimated an adjusted loss of 5 cents a share on revenue of $210.8 million.

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Sturm Ruger & Co shares dropped in the extended session Wednesday after the gun maker’s quarterly results fell below Wall Street estimates. Sturm Ruger shares sunk 13% to $50.10 after hours. The company reported second-quarter net income of $10.2 million, or 57 cents a share, compared to $23.5 million, or $1.22 a share, in the year-ago period. Revenue fell to $131.9 million from $167.9 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $1.11 a share on revenue of $159.6 million. In a statement, the company cited softer demand in 2017 “due to stronger-than-normal demand during most of 2016, likely bolstered by the political campaigns for the November 2016 elections.” Following Sturm Ruger’s results, shares of Smith & Wesson parent American Outdoor Brands Corp. declined 5.9% to $19.80 after hours.

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3D Systems Corp. shares dropped in the extended session Wednesday after the 3D printer company reported quarterly results and an outlook that fell below Wall Street estimates. 3D Systems shares fell 9.4% to $15.42 after hours. The company reported a second-quarter loss of $8.4 million, or 8 cents a share, compared to a loss of $4.6 million, or 4 cents a share, in the year-ago period. Adjusted earnings were 8 cents a share. Revenue rose to $159.5 million from $158.1 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 12 cents a share on revenue of $162.5 million. For the year, 3D Systems estimates earnings to be “approximately flat” on an adjusted basis on revenue of $643 million to $671 million. Analysts had forecast earnings of 51 cents a share on revenue of $661.6 million.

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Oclaro Inc. shares rose in the extended session Wednesday after the optical communications equipment company topped Wall Street estimates for the quarter. Oclaro shares rallied 6.8% to $9.75 after hours. The company reported fiscal fourth-quarter net income of $56 million, or 33 cents a share, compared to $11.8 million, or 9 cents a share, in the year-ago period. Adjusted earnings were 20 cents a share. Revenue rose to $149.4 million from $125.2 million in the year-ago period. Analysts surveyed by FactSet had estimated 17 cents a share on revenue of $148 million. For the first quarter, Oclaro estimates revenue of $151 million to $159 million. Analysts expect revenue of $154.1 million.

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