Category: Stock Market News

Lions Gate Entertainment Corp. said on Thursday it’s investing in a new UK-based TV production company Potboiler Television. The production company is a new venture from film and TV producers Andrea Calderwood (“The Last King of Scotland”) and Gail Egan (“The Constant Gardener”) and is positioned as a high-end TV drama company, according to a news release. Lions Gate has recently been praised for its big-screen successes, nabbing 26 Oscar nominations thanks notably to best-picture favorite “La La Land.” But the media and entertainment company has been investing in and has also garnered success from its TV business. Lions Gate recently closed a deal to acquire cable TV network Starz and has entered distribution partnerships with overseas distributors, such as China streaming company iQIYI. This most recent TV investment with Potboiler gives Lions Gate a first-look deal for global distribution of Potboiler’s TV content. Lions Gate’s current slate encompasses close to 90 TV series on 40 different U.S. networks and include “Orange is the New Black” on Netflix Inc., “Nashville” on Walt Disney Co.’s ABC and “Casual” on Hulu. Shares of Lions Gate are up nearly 7% in the year to date, while the S&P 500 Index is up nearly 3%.

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Royal Caribbean Cruises Ltd. shares rose 1.7% in Thursday premarket trading after the company reported earnings that beat consensus and issued guidance above estimates. Net income was $261.1 million, or $1.21 per share, down from $206.8 million, or 94 cents per share, for the same period last year. Adjusted EPS was $1.23, beating the FactSet consensus of $1.21. Revenue for the quarter was $1.91 billion, up from $1.90 billion last year, but missing the $1.96 billion FactSet consensus. Passenger ticket revenue was $1.35 billion, down from $1.37 billion last year. Royal Caribbean expects first-quarter EPS to be about 90 cents, ahead of the 71-cent FactSet estimate, and full-year 2017 EPS in the range of $6.90 to $7.10, above the FactSet consensus of $6.80. “The company’s booked position for 2017 is better than last year’s record high, and at higher rates,” the company said in its release. Royal Caribbean shares are up 25.4% for the last three months, and up 3.7% for the past year. The S&P 500 index is up 20.7% for the last year.

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Pfizer Inc. said early Thursday that its phase 2 clinical trial for a C. difficile vaccine had positive results. The bacterium, which causes infectious diarrhea, typically affects older adults in medical facilities and can be life-threatening and difficult to treat. The vaccine was studied for safety, tolerability and immune response in more than 850 healthy older adults, and will proceed to a late-stage trial in the first half of this year, Pfizer said. The vaccine was designated for a fast track by the Food and Drug Administration in 2014, a label intended to facilitate innovation in difficult-to-treat areas. Pfizer shares were up 0.4% in pre-market trade Thursday. Shares have fallen 3.4% over the last three months, compared with a 7.4% rise in the S&P 500 .

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JetBlue Airways Corp. shares rose 1.1% in Thursday premarket trading after the airline reported fourth-quarter earnings and revenue that beat estimates. Net income was $172.0 million, or 50 cents per share, down from $190.0 million, or 56 cents per share, for the same period last year. The FactSet consensus was 49 cents per share. Revenue was $1.64 billion, up from $1.59 billion last year and meeting the FactSet consensus. Passenger revenue rose to $1.48 billion from $1.44 billion and beat the $1.46 billion FactSet consensus. And revenue passenger miles for the quarter rose 6% year-over-year to 11.2 billion on a capacity increase of 4.5%. For the first quarter, JetBlue sees a capacity increase between 4.5% and 6%. JetBlue shares are up 24.1% for the last three months, but are up 0.9% for the past year. The S&P 500 index is up 20.8% for the last 12 months.

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Shares of Caterpillar Inc. were up less than 1% in premarket trade Thursday after the company beat fourth-quarter earnings expectations. The company reported a net loss of $1.35 billion, or a loss of $2 per share, wider than a loss of $247 million, or a loss of 16 cents per share in the year-earlier period. It reported adjusted profit of 83 cents, above the FactSet consensus of 63 cents. Caterpillar reported sales of $9.57 billion, below $11.03 billion in the year-earlier period and below the FactSet consensus of $9.94 billion. The company attributed the quarter’s loss to three non-cash charges and higher than expected restructuring costs. The company said it sees “modest recovery”in a few of its businesses going forward and cut its 2017 sales outlook to $36 billion to $39 billion. It sees a 2017 EPS of $2.30 and adjusted EPS of $2.90 at the midpoint of the range. Shares of Caterpillar have fallen 16.7% in the last three months, compared to the S&P 500’s gain of 7.4%.

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The U.K. government on Thursday published its bill seeking approval from lawmakers to trigger Article 50, which will start the Brexit process. Debates over the European Union Notification of Withdrawal bill will last for three days starting on Tuesday, and a vote will be held on Feb. 8, the government said. The short bill comes after the U.K. Supreme Court on Tuesday ruled the Conservative Party-led government couldn’t start the process of Britain leaving the EU without first consulting parliament.

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Shares of Ford Motor Company dropped nearly 1% in premarket trade on Thursday after the company reported a loss of $800 million, or 20 cents per share for the fourth quarter. That compares to a loss of $2.7 billion during the same quarter a year ago. The loss per share for the year-earlier period was not readily available. Net income for the full year, however, came in at $4.6 billion, or $1.15 per share. Ford’s adjusted earnings for the fourth quarter were 30 cents per share, just shy of FactSet’s 31 cents consensus. Revenue for the quarter hit $38.7 billion, above the $35.0 billion FactSet consensus. The company did not make the year-earlier revenue available. Looking toward 2017, Ford expects operating margin and profit to be lower than 2016, due mainly to unfavorable volume and mix and increased investments in emerging opportunities, according to a news release. Shares of Ford are up more than 4% in the trailing 12-month period, while the S&P 500 Index is up nearly 21%.

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Bristol-Myers Sqibb shares sunk 2.7% in pre-market trade Thursday after the company reported a fourth-quarter earnings miss and revenue beat. Earnings for the latest quarter were $894 million, or 53 cents per share. In the year-earlier period the company had a loss of $197 million, or 12 cents per share. Adjusted EPS was 63 cents, compared with the FactSet consensus of 67 cents. Revenue rose to $5.24 billion from $4.29 billion, beating the FactSet consensus of $5.12 billion. The company said global revenue growth was driven by sales for its blockbuster cancer drug Opdivo, along with drugs Eliquis, Orencia, Sprycel and Yervoy. Bristol-Myers confirmed its 2017 EPS guidance range of $2.47 to $2.67 and reduced its adjusted EPS guidance range to $2.70 to $2.90 from $2.85 to $3.05. Shares of Bristol-Myers have risen 0.5% over the last three months, compared with a 7.4% rise in the S&P 500 .

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Endo International PLC said it will cut 90 full-time jobs as part of a restructuring aimed at saving $40 million to $50 million a year. With about 6,400 employees, according to FactSet, the cuts amount to about 1.4% of the workforce. The jobs affected will primarily be from its operations in Malvern, Penn. and Chestnut Ridge, NY. The Dublin-based drugmaker said it expects to record a cash charge of $15 million to $20 million as a results of the restructuring. “In a competitive and challenging healthcare environment, these difficult but necessary steps are intended to best position Endo for long-term success,” said Chief Executive Paul Campanelli. The stock, which was still inactive in premarket trade, has plunged 80% over the past 12 months while the S&P 500 has gained 21%.

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Citrix Systems Inc. shares fell in the extended session Wednesday after the software company issued an outlook that fell below Wall Street numbers. Citrix shares declined 3.9% to $91.99 after hours. The company forecast 2017 adjusted earnings of $4.60 to $4.65 on revenue of $2.81 billion to $2.84 billion with the separation of the company’s GoTo business. Analysts surveyed by FactSet estimated $5.35 a share on revenue of $3.55 billion, while it was unclear of the extent to which analysts estimated charges in their consensus. For the fourth quarter, Citrix reported adjusted earnings of $1.61 a share on revenue of $908 million, while analysts expected $1.49 a share on revenue of $901 million.

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