Category: Stock Market News

Amazon.com Inc. said Wednesday that it is offering an $8.62 discount on all purchases of $50 or more after the company earned a record score of 86.27 in this year’s Harris Annual Corporate Reputation Poll. The company ranked number one in the poll for the second consecutive year, and the score is a record high for the 18-year history of the poll, the company said. The Harris Poll surveyed more than 23,000 Americans on areas including products and services, emotional appeal and financial performance. Amazon shares are down 0.2% in Wednesday trading, but up 52.7% for the last year. The S&P 500 index is up 21.3% for the past 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.

…read more

From:: Stock Market News

Shares of Texas Roadhouse Inc. tumbled 9.7% in morning trade Wednesday to a 3 1/2-month low in the wake of disappointing fourth-quarter results, with Canaccord Genuity saying investors should still wait before investing in what it believes offers consumers the “best value” in casual dining. The restaurant chain reported late Tuesday earnings, revenue and same-store sales that missed expectations, and provided a disappointing same-store sales outlook for the current quarter. Analyst Lynne Collier at Canaccord reiterated her hold rating and $42 stock price target, which is nearly 3% below current prices. “While we continue to believe that [Texas Roadhouse] offers consumers the ‘best value’ in casual dining and believe that…some of the [same-store sales] pressure is transitory, we would look for a better entry point before becoming constructive on shares,” Collier wrote in a note to clients. The stock, which is now 14% below the Dec. 9, 2016 record close of $50.20, has gained 17% over the past 12 months, while the S&P 500 has climbed 21%.

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

U.S. stocks opened marginally lower on Wednesday as the three main benchmarks struggled to continue their run of records amid a pullback in oil prices. The S&P 500 index slipped three points, or 0.1%, to 2,362.34. The Dow Jones Industrial Average shed 27 points, or 0.1%, to 20,712. The Nasdaq Composite Index retreated 10 points, or 0.2%, to 5,856. U.S.-traded crude-oil futures slipped 1.5% to $53.54 a barrel in recent trade, weighing on energy stocks. Shares of Toll Brothers Inc. jumped after the company posted a fall in profit and revenue. First Solar Inc. shares fell, even though the company posted adjusted earnings and sales that beat expectations. Shares of TJX Cos. rose after the off-price retailer’s fourth-quarter earnings and sales beat expectations. Investors are now looking ahead to the release of minutes from the Federal Reserve’s most recent policy meeting, which they will scrutinize for clues about the central bank’s plans for raising interest rates and unwinding its balance sheet.

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

TJX Cos. shares rose 1.6% in Wednesday premarket trading after the off-price retailer announced fourth-quarter earnings and sales that beat estimates. TJX stores include T.J. Maxx and HomeGoods. Net income was $677.9 million, or $1.03 per share, up from from $666.5 million, or 99 cents per share, last year. The FactSet consensus was $1.00. Sales were $9.47 billion, up from $8.96 billion last year and ahead of the $9.44 billion FactSet consensus. Same-store sales increased 3%, beating the FactSet consensus for a 2.6% increase. TJX plans to increase the quarterly dividend by 20% to 31.25 cents per share for common stock declared in April 2017, payable in June 2017. The company also announced a stock repurchase program of about $1.3 billion to $1.8 billion during the fiscal year ending Feb. 3, 2018. There’s $1.8 billion remaining in the existing fiscal 2017 repurchase program. For the first quarter, TJX sees EPS in the range of 76 cents to 78 cents compared with 76 cents last year and below the 81-cent FactSet consensus. The company expects wage increases to hurt EPS growth by 3%. TJX shares are up 4.4% for the past year while the S&P 500 index is up 21.6% for the same 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

Apple Inc. will open its new spaceship-like corporate headquarters to employees in April. The company, which has dubbed the facility Apple Park, said the 175-acre campus will be ready to be occupied within two months. The company will move more than 12,000 employees there over six months in 2017, while construction on non-core buildings and landscaping will continue through the summer. The 2.8 million-square-foot building features curved class and solar panels that will enable much of the facility to operate on renewable energy. It will also include a 1,000-seat auditorium for the company to host future flagship product events. The announcement comes as Apple stock trades at all-time highs, despite decelerating iPhone sales. Its shares ticked 0.16% lower to $195.96 in premarket trade Wednesday after notching an all-time high of $136.70 on Tuesday. Its shares have gained 22.3% in the past three months and 41% in the past year, outperforming the Dow Jones Industrial Average , a 30-member index of which Apple is a part of. The Dow is up 9% in three months and 25% in the past year.

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

Carnival Corp. said Wednesday that its joint venture in China has agreed to order the first cruise ships built in China for use in the Chinese market. The agreement is an update to terms of the September 2016 agreement between Carnival and China State Shipbuilding Corp. (CSSC) The deal is for two ships, which will be built by CSSC and Italy-based Fincantieri S.p.A. with the first expected to deliver in 2023. There’s an option for four additional ships. The joint venture, announced in 2015, includes plans to launch a cruise brand in China using ships purchased from Carnival’s existing fleet and then to add Chinese-built ships to accelerate growth and meet increasing demand. Carnival holds a minority interest in the venture. Carnival Corp. shares are little changed in premarket trading, and up 16.4% for the last year. The S&P 500 index is up 21.6% 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.

…read more

From:: Stock Market News

Argos Therapeutics Inc. said an independent data monitoring committee recommended the Phase 3 trial of its treatment for renal cell carcinoma be “discontinued for futility,” based on an interim data analysis. The committee said the study as unlikely to demonstrate a statistically significant improvement in overall survival, which is the study’s primary endpoint. “We are extremely disappointed with these results, which included seventy-five percent of the targeted events needed to permit the primary analysis and assessment of overall survival in the study,” said Argos Chief Executive Jeff Abbey. Argos said it will determine the next steps for the treatment after it discusses the data with the Food and Drug Administration. The stock, which is currently halted for news until 8:30 a.m. ET, has lost 12% over the past 12 months, while the S&P 500 has gained 7.4%.

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

Facebook Inc. is in discussions with Major League Baseball to stream some games in the upcoming season, according to reports from Bloomberg and Reuters citing people close to the matter. The deal would mark the latest effort by sports leagues to use social media as a way to reach new viewers, particularly those in younger demographics who continue to cut the proverbial cable cord. In 2016, Twitter Inc. struck a similar deal to stream NFL Thursday Night Football games. According to Bloomberg, the MLB deal would also include one game a week. Shares of Facebook traded around $133.60 in premarket trade Wednesday, outperforming the S&P 500 . They’ve gained 10% in the past three months and 25% in the past year, while the index has increased 7% in three months and 22% in a year.

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

Aetna Inc. said Wednesday it has entered an accelerated share buyback with two dealers to repurchase shares worth $3.3 billion. The health insurer said it will execute the deal under its existing authorization and fund it with available cash. The company will pay $1.65 billion to each dealer on Wednesday and will receive an initial delivery of 10.4 million shares of its common stock. Shares were not yet active in premarket trade, but have gained 18% in the last 12 months, while the S&P 500 has gained 21.6%.

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 Parker Drilling Co. plunged 13% in premarket trade Wednesday, after the provider of drilling services to the energy industry launched a public offering of 12 million shares of common stock. That would boost the number of shares outstanding, currently at about 125.2 million, by nearly 10%. The company said it also granted the underwriters of the offering options to buy up to an additional 1.8 million shares, and that it launched a public offering of $50 million worth of convertible preferred stock. Parker Drilling plans to use the proceeds from the offerings for general corporate purposes. On Tuesday, the company said it ended 2016 with $210 million in total liquidity. The stock has soared 90% over the past 12 months, while the SPDR Energy Select Sector ETF has climbed 24% and the S&P 500 has rallied 22%.

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