Category: Stock Market News

Nautilus Inc. shares fell in the extended session Monday after the fitness equipment maker’s quarterly results came in below Wall Street expectations. Nautilus shares fell 9.1% to $16 after hours. The company reported second-quarter net income of $2.5 million, or 8 cents a share, compared with $3.5 million, or 11 cents a share, in the year-ago period. Revenue declined to $77 million from $78.5 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 9 cents a share on revenue of $78 million.

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HealthSouth Corp. posted better-than-expected earnings, helping its shares to rally briefly in Monday’s extended session. HealthSouth reported its second-quarter earnings fell to $79.4 million, or 70 cents a share, from $81.3 million, or 65 cents a share, a year earlier. On an adjusted basis, the company would have earned 71 cents a share. Net operating revenue increased to $981.3 million from $920.7 million. Analysts surveyed by FactSet had forecast earnings of 67 cents a share on revenue of $976 million. HealthSouth raised the lower end of its 2017 revenue outlook to a range of $3.88 billion to $3.95 billion versus $3.85 billion to $3.95 billion and tightened its adjusted earnings per share target to $2.64 to $2.73 from $2.61 to 2.73. HealthSouth is planning to change its name to Encompass Health Corp. on Jan. 2 and will trade under a new ticker: EHC. Shares are flat in the late session after initially jumping more than 5%.

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Shares of Texas Roadhouse Inc. rose nearly 7% late Monday after the restaurant chain reported second-quarter sales above expectations and per-share earnings in line with forecasts. Texas Roadhouse said it earned $37.6 million, or 53 cents a share, in the quarter, compared with $33.6 million, or 47 cents a share, in the year-ago period. Revenue rose to $566.2 million, from $508.1 million a year ago. Analysts polled by FactSet had expected per-share earnings of 53 cents a share on sales of $563 million. Comparable-restaurant sales rose 4% at company restaurants and 3.6% at domestic franchises, Texas Roadhouse said. The company reiterated its expectations of comparable-restaurant sales growth for the year, as well as food costs deflation between 1% and 2% and total capital expenditures of about $170 million. The shares ended the regular trading session down 0.8%.

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Shares of GrubHub Inc. and Groupon Inc. both advanced in the extended session Monday after the companies announced a food delivery partnership deal. GrubHub shares rose 3% to $47.50 after hours, while Groupon shares rose 3.7% to $3.90. The partnership will allow Groupon users to order food delivery from GrubHub’s 55,000 participating restaurants and allow them to redeem Groupon deals. Also, GrubHub will acquire 27 of Groupon’s OrderUp food delivery markets under deal terms that were not disclosed.

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Oil futures erased earlier losses to close higher Monday, rallying into the final bell, with the U.S. benchmark settling above $50 a barrel. West Texas Intermediate crude for September delivery on the New York Mercantile Exchange rose 46 cents, or 0.9%, to close at $50.17 a barrel. For the month, oil rallied 8.9%, according to FactSet, its biggest monthly gain of the year.

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President Donald Trump has removed Anthony Scaramucci as White House communications director, the New York Times reported Monday. The Times said Trump’s new chief of staff, John Kelly, made the request, according to the report. The decision came just days after Scaramucci started in the job and subsequently gave an expletive-laced interview to the New Yorker magazine.

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The Trump administration is seeking to get a tax-reform bill through Congress by November, White House legislative affairs director Marc Short said Monday. Speaking at an Americans for Prosperity event, Short said the goal is to get a bill through the House in October and the Senate in November. “That I think is an aggressive schedule, but that is our timetable,” Short said. Last week, congressional leaders and the White House issued a joint statement on tax reform, dropping the so-called border adjustment tax and saying they wanted to reduce tax rates “as much as possible.”

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Gold futures ended marginally lower Monday but saw a monthly gain. Gold for December delivery on Comex , the most active contract, fell $1.90, or 0.1%, to close at 1,273.40 an ounce. For the month, gold saw a 2.5% rise, according to FactSet.

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Shares of Boeing Co. surged $3.17, or 1.3%, toward a record high, enough to make it the biggest driver of the Dow Jones Industrial Average’s rally, after J.P. Morgan boosted its price target in the wake of the aerospace and defense giant’s “watershed” second-quarter results. The price gain was adding about 22 points to the Dow’s price, which was up 94 points in record territory. The stock was headed for a 7th straight gain; the 16% it has gained during the current streak would be its best seven-session performance since August 2009. J.P. Morgan analyst Seth Seifman kept his rating at overweight but raised his stock price target to $280, which is 15% above current levels, from $240. “Success on the numbers are driving estimates higher, while success on the qualitative front supports valuation and though the latter is more difficult to measure, we imagine last week’s results were a step forward,” Seifman wrote in a note to clients. “Qualitatively, management is pushing investors to think differently about Boeing with regard to strategic initiative, operational prowess and cyclicality.” The stock has been the Dow’s best performer year to date, running up 57%, while the Dow has gained 11%.

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Sam Shepard, Pulitzer-winning playwright and Oscar-nominated actor, has died at the age of 73. According to media reports, Shepard, who had been suffering from ALS, died peacefully at his home in Kentucky on July 30. Shepard authored some 40-plus plays, including his 1979 work “Buried Child,” for which he was awarded the Pulitzer Prize. He racked up nearly 70 acting credits in his career as well, and was nominated for an Academy Award for his supporting role as pilot Chuck Yeager in 1983’s space drama “The Right Stuff.”

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