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Shares of Altice USA Inc. gained more than 15% in intraday trade on Tuesday after the telecom’s European parent company said it plans to spin off its controlling stake in the U.S. arm. Shares of the French Altice N.V. were up more than 9%. Altice has been under pressure to deleverage, said Raymond James analyst Stephane Beyazian. “If pressure on the valuation of Altice Europe due to SFR continues, we think the reorganization could eventually open the door to a positive outcome in the French market,” Beyazian wrote in a note to investors. “A separate listing of Altice Europe makes a sale of this asset easier, to Bouygues or Iliad for instance, which could both consider market consolidation synergies in France, in our view. However, we doubt that the intention to sell is unlikely to be reached in the medium-term, as this would require a material discount to the price paid for these assets.” Shares of Altice N.V. have declined 42% in the last three months, while Altice USA is down nearly 12%. By comparison, the S&P 500 index is up 8% in the last three months and the Dow Jones Industrial Average is up 11%.

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The yield for the benchmark 10-year Treasury note climbed to its highest level in 10 months on Tuesday. The 10-year note yield rose 4 basis points to 2.520%, its highest since March 17. The 2-year note yield fell 1.2 basis point to 1.948%. The 30-year bond yield climbed 5.5 basis points. Market participants said the move higher was kick-started by the Bank of Japan’s decision to reduce its purchases of long-dated debt, sparking anticipation the central bank would back away from its ultra-accommodative monetary policy.

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Urban Outfitters Inc. shares are down 5.2% in Tuesday premarket trading after the retailer reported same-store sales for the November and December period that fell below expectations. Sales for the period were up 3.6% year over year, and same-store sales for the retail segment were up 2%. Chief Financial Officer Francis Conforti, speaking at the ICR Conference on Monday, noted that the 2% was “slightly below” where the company was at the time it filed a 10-Q in December. “All of that is due to the Urban Outfitters brand in North America, and that’s tech and media,” he said, according to a FactSet transcript. Specifically, the company was not able to make up for the volume over the past couple of years in Crosley cameras and camera film. “We knew it was going to be a challenging category for us in the holiday season, but it was worse than what we had anticipated,” Conforti said. The tech and media category tends to double in December and then is halved the rest of the year, he added. Same-store sales were up 5% at Free People, up 2% at Anthropologie, and up 1% at the Urban Outfitters brand. Urban Outfitters shares are up 47% for the past three months, outpacing the S&P 500 index , which is up 8% for the period.

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Sprouts Farmers Market Inc. shares are up 2% in Tuesday trading after the grocer reported preliminary fourth-quarter same-store sales growth of 4.6%, exceeding the 4.1% FactSet consensus. For the fiscal year ending Dec. 31, 2017, Sprouts expects to report sales growth of 15.3%, same-store sales growth of 2.9% and earnings per share “slightly above” guidance in the range of 98-to-99 cents. The FactSet consensus is for EPS of 99 cents. Sprouts has also announced an expanded partnership with Instacart. Starting Tuesday, home delivery will be available in select zip codes in Phoenix and Tucson, AZ. Sprouts already offers Instacart service in eight cities. Sprouts Farmers Market shares are up 39.4% for the last three months, outpacing the S&P 500 index , which is up 8% for the period.

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U.S. stock-market indexes traded in record territory after modest opening gains on Tuesday, with the Dow resuming its record run after a pause. The S&P 500 rose 5 points, or 0.2%, to 2,752. The tech-heavy Nasdaq Composite index advanced by 17 points, or 0.3%, to 7,176. The Dow Jones Industrial Average gained 56 points, or 0.3%, to 25,338 at the open. Among the best performers on Wall Street, shares of Target Inc. jumped after the discount retailer raised its fiscal fourth-quarter profit outlook, citing stronger-than-expected holiday sales.

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T-Mobile US Inc. said on Tuesday that it added 5.7 million customers in 2017. The company said this is the fourth year in a row that it’s added more than 5 million new members. In the last five years, T-Mobile’s reported customer base has risen by more than 39 million users. FactSet’s consensus on net additions for 2017 was 5.2 million subscribers. T-Mobile said it added 1.9 million subscribers in the most recent fourth quarter, which also saw record low churn for postpaid customers. In the full year churn was down 10 basis points compared with last year. Shares of T-Mobile were up a little more than 1% in premarket trade, and have gained nearly 15% in the last 12 months. By comparison, the S&P 500 index is up more than 21% and the Dow Jones Industrial Average is up more than 27%.

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.

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Urban Outfitters Inc. shares are down 5.2% in Tuesday premarket trading after the retailer reported same-store sales for the November and December period that fell below expectations. Sales for the period were up 3.6% year over year, and same-store sales for the retail segment were up 2%. Chief Financial Officer Francis Conforti, speaking at the ICR Conference on Monday, noted that the 2% was “slightly below” where the company was at the time it filed a 10-Q in December. “All of that is due to the Urban Outfitters brand in North America, and that’s tech and media,” he said, according to a FactSet transcript. Specifically, the company was not able to make up for the volume over the past couple of years in Crosley cameras and camera film. “We knew it was going to be a challenging category for us in the holiday season, but it was worse than what we had anticipated,” Conforti said. The tech and media category tends to double in December and then is halved the rest of the year, he added. Same-store sales were up 5% at Free People, up 2% at Anthropologie, and up 1% at the Urban Outfitters brand. Urban Outfitters shares are up 47% for the past three months, outpacing the S&P 500 index , which is up 8% for the period.

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Shares of Long Blockchain Corp. rocketed 29% in premarket trade Tuesday, after the company formerly known as Long Island Iced Tea Corp. said it will not proceed with its previously announced public stock-offering plan. The company, which is now focused on developing and investing in blockchain technology solutions, said it still plans to buy 1,000 bitcoin mining machines, which it expects to be shipped this month. “Notwithstanding its intent to close on the proposed acquisition, the company can make no assurances that it will be able to finance the purchase of the mining equipment,” the company said in a statement. The stock had tumbled 24% over the past two sessions, after the company said early Friday that it signed subscription agreements for the public offering of 1.6 million common shares at a price of $5.25 a share. The stock closed Monday at $4.85. The stock has lost 4.9% year to date through Monday, while bitcoin futures has gained 4.6% and the S&P 500 has gained 1.7%.

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Shares of Under Armour Inc. sank 3.7% in premarket trade Tuesday, after the athletic gear and apparel maker was downgraded at Susquehanna Financial, which cited “poor” brand management, worsened by a promotional environment. Analyst Sam Poser cut his rating back to negative, after raising it to neutral two months ago. He kept his stock price target at $11, which is 31% below Monday’s closing price of $15.98. “Despite ongoing evolution within the ranks of [Under Armour’s] senior management, we believe, based on proprietary checks and our industry experience, that Under Armour’s brand position will continue to weaken before it is clear if it can be salvaged,” Poser wrote in a note to clients. “We contend that, in order to reaffirm [Under Armour’s] place as an aspirational sports brand, all Under Armour product must be pulled from Kohl’s, DSW, and Famous Footwear.” He said advertisements for Under Armour products from the “moderate” retailers are causing “better” retailers such as Dick’s Sporting Goods Inc. and Hibbett Sports Inc. to “plan their Under Armour businesses down.” The stock has lost 4.0% over the past three months, while rival Nike Inc. shares have soared 25.3% and the S&P 500 has gained 8.0%.

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Shares of MoviePass majority owner Helios & Matheson Analytics Inc. gained more than 9% in premarket trade on Tuesday after the subscription movie ticket platform said on Twitter it had reached 1.5 million paid subscribers. MoviePass has been growing rapidly, and demand for the service seems to still be high. In late December, the $10-a-month service allowing members to see a movie a day in cinemas said it had hit the 1 million subscriber mark. It took Netflix, which began by mailing out DVDs, three years to reach 1 million subscribers. MoviePass Chief Executive Mitch Lowe has said the demand was more than the company expected. MoviePass had just 20,000 subscribers before dropping the price of its subscription to $10 from as much as $50 back in August. People who have signed up for the service have criticized the company for not sending them the cards necessary to use the service. Shares of Helios & Matheson have gained nearly 116% in the last 12 months, while the S&P 500 index is up more than 21% and the Dow Jones Industrial Average is up more than 27%.

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.

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