Category: Stock Market News

Overstock.com Inc. shares jumped in the extended session Tuesday after the online retailer swung to a surprise profit for the fourth quarter. Overstock shares rallied 14% to $18.90 after hours. The company reported earnings of 12 cents a share on revenue of $526.2 million. Analysts surveyed by FactSet had forecast a per-share loss of 4 cents on revenue of $523.5 million.

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Shares of Match Group Inc. fell more than 6% late Tuesday after the parent of Tinder and other online dating sites reported quarterly sales slightly below Wall Street expectations. Match said it earned $74 million, or 27 cents a share, in the fourth quarter, compared with $36 million, or 16 cents a share, in the year-ago period. Adjusted for one-time items, Match Group earned 29 cents a share, compared with 24 cents a share a year ago. Revenue reached $320 million in the quarter, up 19% from $268 million a year ago. Analysts polled by FactSet had expected the company to report adjusted earnings of 24 cents a share on sales of $321 million. Tinder more than doubled the number of its paid members in 2016, and on average the group’s paid member count rose 23%, Match said in a statement. In the same statement, the Dallas, Texas, company said it has agreed to sell The Princeton Review and other non-dating business to education technology company ST Unitas. The deal is expected to close in the first half of the year and terms were not disclosed. Shares had ended the regular trading session down 0.5%.

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Shares of Apple Inc. climbed 2% in after-hours trade Tuesday following the company’s stronger-than-expected earnings report, buoyed by iPhone and services revenue. The company reported net income of $17.9 billion, or $3.38 a share, compared with $18.4 billion, or $3.30 a share, in the year-earlier period. Revenue for the period increased to $78.35 billion compared with $75.9 billion last year, topping the Wall Street consensus estimate of $77.3 billion. The company sold 78.3 million iPhone units during the quarter, topping analysts’ expectations of 77 million. Services revenue increased to $7.17 billion, up from $6.01 billion last year and topping the $6.9 billion FactSet estimate. Shares of Apple have increased 7% in the past three months and 25% in the past year. The Dow Jones Industrial Average , by comparison, has increased 9.5% in the past three months and 21% in the past year.

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The American Petroleum Institute late Tuesday reported an increase of 5.8 million barrels in U.S. crude supplies for the week ended Jan. 27, according to sources. Analysts polled by S&P Global Platts forecast a climb of 2.2 million barrels. The API data also showed a rise of roughly 2.9 million barrels in gasoline supplies and a climb of 2.3 million barrels in distillates, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. March crude was at $52.84 a barrel in electronic trading, nearly unchanged from the contract’s settlement of $52.81 on the New York Mercantile Exchange.

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Advanced Micro Devices Inc. shares rose in the extended session Tuesday after the chipmaker’s fourth-quarter results were in line with Wall Street estimates. AMD shares advanced 2.8% to $10.66 after hours. The company reported a loss of 1 cent per share on revenue of $1.11 billion for the fourth quarter. Analysts surveyed by FactSet had expected a loss of 1 cent per share on revenue of $1.07 billion. For the first quarter, AMD said it expects revenue to decrease 11% sequentially, plus or minus 3 percentage points, which would result in revenue of $954.6 million to $1.02 billion. Analysts expect revenue of $964 million.

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The Dow Jones Industrial Average may have slumped 107 points, the second-straight triple-digit loss, but market internals showed that the broad stock market actually rose. The number of advancing stocks outnumbered declining stocks by a 1,856-to-1,057 score on the NYSE and by a 1,690-to-1,100 margin on the Nasdaq exchange. And share volume in advancing stocks was 56% of total volume on the NYSE and 54% of total volume on the Nasdaq. Meanwhile, after falling 123 points on Monday, only 9 of the Dow’s 30 stocks gained ground on Tuesday. The S&P 500 slipped 0.1% on Tuesday, while the Nasdaq Composite inched up less than 0.1%.

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Shares of Electronic Arts Inc. were volatile in Tuesday’s extended session after the video game publisher behind such popular titles as Battlefield and FIFA 17 released its quarterly results. Electronic Arts reported its third-quarter loss narrowed to $1 million from $45 million a year earlier. On a per share basis, Electronic Arts broke even versus a loss of 14 cents in the year-ago period. Revenue rose to $1.15 billion versus $1.07 billion. In the fourth quarter, the company expects earnings of $1.64 a share and revenue of $1.48 billion. Shares swung in and out of negative territory after hours to slide 1.1%.

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Oil futures on Tuesday settled modestly higher, but registered a monthly drop as investors wrestled with the possible effect President Donald Trump may have on prices. West Texas Intermediate crude-oil for March delivery finished up 18 cents, or 0.3%, at $52.81 a barrel, but came off its highs of the session. For the month, oil closed off about 1.8% as concerns about U.S. shale drilling weighed, offsetting upbeat sentiment on the back of the agreement between the Organization of the Petroleum Exporting Countries and other oil producers to curb global production, which began in January.

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Gold futures climbed Tuesday to tally a monthly gain of roughly 5.2%–their largest such gain since June. A sharp decline in the U.S. dollar and losses in U.S. equities helped lift investment demand for the precious metal. April gold rose $15.40, or 1.3%, for the session to settle at $1,211.40 an ounce. That was the highest finish for a most-active contract since Jan. 23, according to FactSet data.

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Uber Technologies Inc. announced a partnership with German automaker Daimler Tuesday in which Daimler will manufacture self-driving cars for the company. Daimler will operate the self-driving cars under Uber’s network. In a blog post, Travis Kalanick, chief executive of Uber, confirmed that the company will be not building its own self-driving cars and instead will partner with automakers. “Auto manufacturers like Daimler are crucial to our strategy because Uber has no experience making cars-and in fact, making cars is really hard,” Kalanick wrote. Uber recently launched a self-driving car pilot in Pittsburgh, using Ford and Volvo vehicles, and a halted pilot in San Francisco, using Volvos.

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