Category: Stock Market News

Cinema chain AMC Entertainment Holdings Inc. shares rose 1.7% i in premarket trade Thursday, after the company posted better-than-expected revenue for the fourth quarter, on strength in admissions and concessions. AMC said it had a net loss of $276.4 million, or $2.14 a share, after earnings of $29.0 million, or 29 cents a share, in the year-earlier period. The number includes a $310.0 million tax expense stemming from the December revamp. The company did not provide an adjusted EPS number. The FactSet consensus was for EPS of 27 cents. Revenue rose 53% to $1.416.8 billion from $926.1 million, beating the FactSet consensus of $1.407 billion. Admissions revenue rose 52% to $897.1 million, while food and beverage revenue rose 47.0% to $415.3 million. “The acquisitions of Odeon, Carmike and Nordic, and the investments we made during 2017, both domestically and internationally, in food and beverage initiatives, in our signature recliners and in premium sight and sound experiences, together with previously announced revenue enhancements and cost controls drove record revenues and improved operating margins in the fourth quarter,” Chief Executive Adam Aron said in a statement. The company is currently enjoying an admissions boost from the success of “Black Panther,” he said. Shares are down 51% in the last 12 months, while the S&P 500 has gained 14%.

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.

…read more

From:: Stock Market News

Harley-Davidson Inc. said Thursday it made an equity investment in Alta Motor, which makes electric motorcycles and components, and that the companies will collaborate on electric motorcycle technology and product development. Financial terms were not disclosed. Harley-Davidson has previously announced plans to launch its first electric motorcycle, which is on track to be released in 2019. “We believe that EV is where global mobility is headed and holds great appeal for existing riders as well as opportunity to bring new riders into the sport,” said Harley-Davidson Chief Executive Matt Levatich. “We intend to be the world leader in the electrification of motorcycles and, at the same time, remain true to our gas and oil roots by continuing to produce a broad portfolio of motorcycles that appeal to all types of riders around the world.” The stock, which was indicated up about 1% in premarket trade, has shed 9.3% over the past three months while the S&P 500 has gained 2.7%.

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.

…read more

From:: Stock Market News

Target Corp. said Thursday that it will launch a limited-edition collection with Hunter, makers of the Original Wellington boots, outwear and accessories. The collection will include more than 300 items for men, women, children and toddlers, as well as home and outdoor items like hammocks and coolers, a first for Hunter. The collection will be available April 14 at select Target stores and on the Target website. Items will range in price from $5 to $80 with most items under $30. Target REDcard holders will have early access to exclusive colors of select items on April 7. Target shares are up 30.4% for the past year while the S&P 500 index is up 13.3% for the period.

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.

…read more

From:: Stock Market News

Kohl’s Corp. shares rose 5.2% in Thursday premarket trading after the retailer reported fourth-quarter earnings and sales that beat expectations. Net income totaled $468.0 million, or $2.81 per share, compared with $252.0 million, or $1.44 per share, for the same period last year. Excluding the tax overhaul and store closures, EPS was $1.99, ahead of the $1.77 FactSet consensus. Revenue totaled $6.78 billion, up from $6.21 billion last year and ahead of the $6.74 billion FactSet consensus. Same-store sales grew 6.3%, just below the FactSet consensus for 6.5% growth. On Wednesday, Kohl’s raised its quarterly dividend 11% to 61 cents, payable March 28 to shareholders of record at the close of business March 14. For 2018, Kohl’s expects EPS of $4.95 to $5.45, ahead of the $4.72 FactSet consensus. Same-store sales are expected to be flat to up 2%. The FactSet guidance is for a 0.7% increase. And sales are expected to be down 1% to up 1%. FactSet consensus is for sales of $19.07 billion, up from $19.05 billion year-over-year. Kohl’s is shifting its reporting calendar in fiscal 2018, and expects to report first-quarter 2018 results during the week of May 20. Kohl’s shares are up 37.5% for the past three months, outpacing the S&P 500 index , which is up 2.7% for the period.

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.

…read more

From:: Stock Market News

A new partnership will put Netflix Inc. content into the Sky Q service, the two media companies announced Thursday. Shares in U.K. media company Sky PLC were little changed in London trading following the announcement, while the U.S. streaming video giant’s stock was not yet active in premarket action. “This European partnership will see Netflix — along with the new Sky TV pack — launch on Sky Q in the U.K. and Ireland in the coming year,” Sky said in a news release, adding that the offerings also will eventually come to the Sky Q platforms in Germany, Austria and Italy.

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.

…read more

From:: Stock Market News

The family real estate business of Jared Kushner, President Donald Trump’s senior adviser and son-in-law, received more than half a billion dollars in loans from companies whose leaders attended private White House meetings with him last year, the New York Times reported late Wednesday. Apollo Global Management lent the Kushner Cos. $184 million in November, months after Kushner met with Apollo founder Joshua Harris and discussed a possible job in the White House for him, the Times reported. Kushner’s company also received a $325 million loan from Citigroup Inc. last spring, after Kushner met with Citigroup CEO Michael Corbat at the White House, the Times said. There is no evidence the meetings were about Kushner’s finances, the Times reported, but the meetings raise significant ethics questions. Earlier in the day, the Wall Street Journal reported New York’s state banking regulator has been looking into ties between Kushner and at least two banks, and on Tuesday his security clearance was downgraded by White House chief of staff John Kelly.

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.

…read more

From:: Stock Market News

Special counsel Robert Mueller is investigating whether President Donald Trump attempted to oust Attorney General Jeff Sessions last summer, the Washington Post reported late Wednesday. The Post said the probe is looking at Trump’s motivations, and whether he was attempting to oust Sessions with plans to replace him with someone who would rein in Mueller’s investigation into Russian election meddling. Sessions reportedly came close to resigning in July, after being berated by Trump for recusing himself from overseeing Mueller’s investigation.
The relationship between Trump and Sessions has been rocky in the months since, and the Post reported Trump privately calls him “Mr. Magoo” in private, referring to the bumbling, elderly, nearly blind cartoon character. On Wednesday, Trump again lashed out at Sessions on Twitter, and Sessions responded by saying he would continue to carry out his duties with “dignity and honor.”

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.

…read more

From:: Stock Market News

Walmart Inc. plans to raise the age limit for the purchase of firearms and ammunition to 21 from 18, according to media reports late Wednesday. Walmart’s move follows an announcement from Dick’s Sporting Goods Inc. on Wednesday that it would stop selling assault-style rifles and will raise the age of firearm purchases to 21. Walmart shares were up 0.2% after hours.

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.

…read more

From:: Stock Market News

The price of bitcoin sank late Wednesday after a report by the Wall Street Journal that the Securities and Exchange Commission is ramping up pressure on the initial-coin-offerings industry, issuing scores of subpoenas and information requests to companies. The Journal reported the SEC is seeking information about the structure of ICO sales and pre-sales. Bitcoin immediately fell about 2% after the report, and was last trading at $10,346, according to Coindesk. The SEC has previously suggested that many ICOs may be violating securities laws. In December, a new SEC cyber unit took its first action, halting an allegedly fraudulent ICO. An ICO is a fund-raising method in which a company issues its own cryptocurrency, typically in exchange for bitcoin. The process has significantly fewer regulatory hoops to jump through than an IPO, and the ICO market has been booming, with $6.5 billion raised last year. They’re also highly risky — according to a new survey, 46% of new ICOs in 2017 either flopped out of the gate or have since gone out of business.

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.

…read more

From:: Stock Market News

Shares of Monster Beverage Corp. fell more than 4% late Wednesday after the company reported fourth-quarter earnings and sales that missed Wall Street targets. Monster Beverage said it earned $201.3 million, or 35 cents a share, in the quarter, compared with $172.9 million, or 30 cents a share, in the year-ago period. Revenue rose 7.5% to $810.4 million, compared with $753.8 million in the same period last year. Analysts polled by FactSet had expected earnings of 37 cents a share on sales of $843 million. Shares of Monster Beverage ended the regular trading session down 1.3%.

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.

…read more

From:: Stock Market News