Category: Stock Market News

Ulta Salon Cosmetics & Fragrance Inc. announced Friday that it is forming a new holding company, Ulta Beauty Inc., on Jan. 29, 2017, the start of the company’s new fiscal year. Business operations won’t change, according to Ulta, but the reorganization will result in “a more efficient corporate structure.” All outstanding shares of common stock will automatically convert, and the stock will continue to trade under the “ULTA” ticker. Ulta shares are down 0.2% in premarket trading, but up 56.6% for the past year. The S&P 500 index is up 22% for the last 12 months.

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Shares of American Airlines Group rose 1% in premarket trade Friday after the company beat fourth-quarter earnings expectations. It reported net income of $475 million, or 92 cents per share, compared to $1.3 billion, or $2 per share, in the year-earlier period. It reported adjusted earnings per share of $1.48, above the FactSet consensus of 92 cents. It reported revenue of $9.79 billion, up from $9.63 billion in the year-earlier period and above the FactSet consensus of $9.75 billion. The company has approved a new $2 billion share buyback program which will expire Dec. 31, 2018. Shares of American Airlines have gained 24% in the past three months, compared to the S&P 500’s gain of 8%.

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Honeywell International Inc. said Friday it had net income of $1.034 billion, or $1.34 a share, in the fourth quarter, down from $1.194 billion, or $1.53 a share, in the year-earlier period. Excluding pension and other costs, the company had EPS of $1.74, matching the FactSet consensus. Sales edged up to $9.985 billion from $9.982 billion, below the FactSet consensus of $10.149 billion. Chief Operating Officer Darius Adamczyk said the company is sticking with its 2017 earnings guidance. Honeywell will host an investor day on March 1 in New York City. Shares were down 1.2% premarket, but have gained 22% in the last 12 months, matching the S&P 500’s gains.

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Mexican billionaire Carlos Slim, who once opposed a Donald Trump presidency and later said it would be “very good for Mexico,” plans to hold a Friday press conference at 12:30 pm in Mexico City. The announcement follows a Thursday announcement by President Trump about an imported goods tax that would pay for a wall along the U.S.-Mexico border, which his administration later said is one of a “buffet of options” on the table. The wall, which has been a central part of Trump’s platform since his presidential candidacy, has been controversial both in the U.S. and with Mexico, particularly because Trump has often claimed that Mexico would pay for the wall. Though Slim has previously spoken positively about a Trump presidency, it’s possible he may oppose the latest proposal, which many prominent businesspeople have already come out against.

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Nexstar Media Group Inc. said on Friday it is increasing its quarterly cash dividend by 25% to 30 cents per share. The dividend, which is the company’s fourth annual consecutive increase, is payable Feb. 24 to shareholders of record Feb. 10. Nextstar hopes its strategies to build the top line, maintain fixed costs and optimize the balance sheet will support its goals to deliver or exceed free cash flow targets of $565 million for the 2016/2017 cycle and allow the company to reduce leverage, pursue acquisitions, pay dividends and consider other return of capital initiatives, Chief Executive Perry Sook said in a statement. Shares of Nexstar have gained nearly 35% in the trailing 12-month period, outperforming the S&P 500 Index , which is up 22% in the same time frame.

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Colgate-Palmolive reported fourth-quarter net income Friday of $606 million, or 68 cents per share, compared to a loss of $458 million , or a loss of 51 cents per share, in the year-earlier period. It reported adjusted earnings per share of 75 cents, in line with the FactSet consensus of 75 cents. Sales were $3.72 billion, below the year-earlier number of $3.89 billion and below the FactSet consensus of $3.89 billion. The company expected earnings per share on a dollar basis to be flat for the coming full year and low-single-digit in adjusted EPS. Shares of Colgate-Palmolive have fallen 3.3% in the past three months, compared to the S&P 500’s gain of 7.7%.

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Proofpoint Inc. shares slipped in the extended session Thursday even after the cloud-based security company’s results and outlook topped Wall Street estimates. Proofpoint shares declined 2% to $80.95 after hours. The company reported adjusted fourth-quarter earnings of 18 cents a share on revenue of $106.8 million. Analysts surveyed by FactSet had estimated 13 cents a share on revenue of $104.8 million. The company forecast adjusted first-quarter earnings of 7 cents to 9 cents a share on revenue of $109 million to $111 million. Analysts expect 5 cents a share on revenue of $106.6 million.

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TransCanada Corp. said late Thursday it has submitted a presidential permit application to the State Department for approval of its Keystone XL pipeline. Earlier this week, President Donald Trump signed orders to revive Keystone XL and another pipeline in the Midwest, the Dakota Access, or Bakken pipeline. Shares of TransCanada were down 2% in the late session after ending the regular session down 1.4%. Then-President Barack Obama rejected the pipeline in late 2015. The pipeline is planned to begin in Hardisty, in Canada’s Alberta province, and end 1,179 miles later at Steele City, Neb.

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Wynn Resorts Ltd. shares rallied in the extended session Thursday even after the casino operator’s earnings missed Wall Street targets. Wynn shares surged 7.3% to $102.50 after hours. The company reported fourth-quarter earnings of $1.12 a share, up from 86 cents a share in the year-ago period, owing to strong results from its Wynn Palace resort. Revenue rose to $1.3 billion from $946.9 million a year ago. On an adjusted basis, Wynn reported earnings of 50 cents a share. Analysts surveyed by FactSet had estimated adjusted earnings of 87 cents a share on revenue of $1.26 billion.

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Juniper Networks Inc. shares tanked late Thursday after the company beat fourth-quarter earnings and sales expectations but predicted lower-than-expected first-quarter results. Juniper said it earned $197.4 million, or 51 cents a share, in the fourth quarter, flat year-over-year. Adjusted for one-time items, the company earned $254.3 million, or 66 cents a share, compared with 63 cents a share a year ago. Revenue hit $1.39 billion in the quarter, up 5% from $1.32 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 63 cents a share on sales of $1.36 billion. Juniper said it expects revenue of about $1.2 billion in the first quarter and an adjusted net income between 38 cents a share and 44 cents a share. The analysts surveyed by FactSet had expected first-quarter EPS of 46 cents a share.

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