Category: Stock Market News

Starbucks Corp. said Tuesday that it will be handing out free iced tea during its first summer “Fri-Yay” happy hour event at participating Teavana stores in the U.S. and Canada. The first happy hour event will take place between 3pm and 7pm on May 26. Customers can choose from the Beach Bellini, Strawberry Daquiri and Piña Colada flavors. Teavana will continue hosting the happy hours from June 2 through August 11, and customers who purchase one 24-ounce featured iced tea beverage will get a second of equal or lesser value for free. In addition to the three above, Teavana will also feature Mandarin Mimosa. Starbucks shares are nearly flat in early Monday trading, and up more than 12% for the past year. The S&P 500 index is up more than 17% for the last 12 months.

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From:: Stock Market News

Shares of Xilinx Inc. dropped 6.3% in morning grade Tuesday, after running up to a 16 1/2-year high the day before, after Wells Fargo downgraded the chip maker, citing concerns over valuation given the “modest” sales growth outlook. Analyst David Wong cut his rating to market perform, after being at outperform since October 2014. After attending Xilinx’s analyst day Monday, Wong said he agreed with management’s belief that the company will continue to gain market share in the programmable logic device market over the next few years, but the company’s fiscal 2018 sales outlook implies “modest” growth of 6%, which suggests the rest of 2017 could be below current projections of double-digit growth for the global integrated circuit market. The stock had shot up 13% since Xilinx reported fiscal fourth-quarter results in late April to close Monday at $67.52, the highest close since Nov. 15, 2000 and above Wong’s price target of $66. Separately, Susquehanna Financial analyst Christopher Rolland said that while Xilinx’s analyst day was “constructive,” it “lacked meaningful ‘game chancing’ announcements” to compel him to change his neutral rating or $60 stock price target. Xilinx’s stock is still up 4.8% year to date, while the PHLX Semiconductor Index has climbed 17.1% and the S&p 500 has gained 7.0%.

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Minneapolis Fed President Neel Kashkari on Tuesday sounded in no hurry to raise short-term interest rates. Kashkari, who was the lone dovish dissenter against a March rate hike, told reporters recent soft inflation readings were “concerning” and said there still might be room to lower the unemployment rate without sparking price pressures, according to the Wall Street Journal and Reuters.

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Former James Bond star Roger Moore has died at the age of 89 after a short battle with cancer, the BBC reported Tuesday, citing family members. “It is with a heavy heart that we must announce our loving father, Sir Roger Moore, has passed away today in Switzerland after a short but brave battle with cancer,” the BBC reported, citing a letter from Moore’s children. A private funeral will be held in Monaco, the letter said. Moore played Bond seven times between 1973 and 1985, taking over the role from Sean Connery. His Bond appearances included “A View to a Kill”, “Live and Let Die”, “The Spy Who Loved Me” and “Moonraker”. Moore also played Simon Templar in “The Saint” from 1962 to 1969. The actor was made Commander of the Order of the British Empire in 1998 for his services to Unicef, and was promoted to Knight Commander in 2003.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Starbucks Corp. said Tuesday that it will be handing out free iced tea during its first summer “Fri-Yay” happy hour event at participating Teavana stores in the U.S. and Canada. The first happy hour event will take place between 3pm and 7pm on May 26. Customers can choose from the Beach Bellini, Strawberry Daquiri and Piña Colada flavors. Teavana will continue hosting the happy hours from June 2 through August 11, and customers who purchase one 24-ounce featured iced tea beverage will get a second of equal or lesser value for free. In addition to the three above, Teavana will also feature Mandarin Mimosa. Starbucks shares are nearly flat in early Monday trading, and up more than 12% for the past year. The S&P 500 index is up more than 17% for the last 12 months.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stocks opened with a modest gain on Tuesday, suggesting the market’s recent upward bias remained intact as investors looked past a suspected terrorist attack in Manchester, England. The Dow Jones Industrial Average rose 35 points, or 0.2%, to 20,930. The S&P 500 ticked up by 3 points to 2,398, a rise of 0.1%. The Nasdaq Composite Index rose 17 points, or 0.2%, to 6,151. All three indexes are on track for their fourth straight daily advance, having shrugged off a sharp decline last week, which came on rising political uncertainty. At current levels, major indexes are about 1% below their all-time highs, hit earlier this year. Among the most actively traded stocks of the day, Agilent Technologies Inc. rose 6.7% a day after it raised its earnings and revenue outlook, while Take-Two Interactive Software Inc. surged 8.3% after it posted results that blew past expectations.

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From:: Stock Market News

Shares of Helios & Matheson Analytics Inc. rocketed 91% toward a 3 1/2-month high in premarket trade Tuesday, after predictive analytics company said it has acquired the licensing rights to IsItYou’s facial recognition technology in the field of crime and terrorism. The technology will be integrated with RedZone’s navigation app, RedZone Map, which is used for situational awareness to improve safety. “Through artificial intelligence and facial recognition technology, we will seek to develop the capability to identify dangerous people entering an area and notify our users in real time,” said RedZone founder Ted Farnsworth. Helios & Matheson’s stock had tumbled 26% year to date through Monday, while the S&P 500 had gained 6.9%.

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From:: Stock Market News

Cerus Corp. stock plummeted 12.3% in premarket trade Tuesday after the company said it expects a supply shortage of a platelet additive solution to temporarily affect some U.S. blood centers and affect the company’s 2017 revenue. Cerus decreased its 2017 product revenue guidance from $43 million to $48 million to $38 million to $46 million accordingly. Fresenius Kabi [s:DE:FRE], the maker of the platelet additive solution, had no expected a delay in the Food and Drug Administration’s approval of a plastic component used to make the solution, Cerus said. The original piece had been discontinued by Fresenius Kabi’s supplier, Cerus said, and Fresenius Kabi is working to fix the delay and minimize supply disruption. Cerus’s Intercept blood system for platelets is used to deactivate things like viruses and bacteria in platelet components and ensure platelets’ safety; Fresenius Kabi’s Amicus platform works to separate cells and collect platelets. Availability of Fresenius Kabi’s platelet additive solution is “essential” for customers who make Intercept platelets on the Amicus platform to keep producing pathogen-reduced platelets, Cerus President William Greenman said, and the issue could affect impacted blood centers through the end of this year. Intercept platelets can also be produced in 100% plasma, without platelet additive solution, on the Trima Accel apheresis platform, though blood centers may only have one platform, Cerus said. Cerus shares have dropped 29.8% over the last three months, compared with a 1.3% rise in the S&P 500 .

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From:: Stock Market News

Shares of car-parts retailers are tumbling in premarket trade Tuesday, after AutoZone Inc. reported fiscal third-quarter results that were “significantly” below expectations. Shares of Advance Auto Parts Inc. , which reports first-quarter results on Wednesday, sank 6.0% to put them on track to open at a 6 1/2-month low. O’Reilly Automotive Inc.’s stock dropped 5% toward a 15-month low ahead of the open, while Genuine Auto Parts Co. shares shed 3.7%. AutoZone’s stock plunged 8%, to put it on course to open at the lowest level seen during regular trading hours since February 2015, after the company reported profit, revenue and same-store sales that missed expectations. The stock declines are bucking the trend in the broader stock market, as futures for the S&P 500 are rising 0.2% ahead of the open.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Handmade at Amazon, Amazon.com Inc.’s portal for handcrafted and custom items, has introduced the Handmade Wedding Shop, which will sell wedding products and wedding-related items. Two-day delivery will be available for Prime-eligible items. Available items include personalized wedding invitations and wedding decorations, jewelry, and fashion accessories, such as veils, gloves and ties. Amazon shares are up 0.4% in Tuesday premarket trading, and up 39.3% for the past year. The S&P 500 index is up nearly 17% for the last 12 months.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News