Category: Uncategorized

Crocs Inc. shares are up nearly 5% in early Monday trading after the shoe company raised its fourth-quarter sales guidance to between $195 million and $198 million from between $180 million and $190 million. The FactSet consensus is $188 million. Crocs raised its fourth-quarter margin expectation by 200 basis points to about 45% from about 43%. And the company expects its sales, general and administrative (SG&A) expenses to be flat with last year’s $118.5 million total. For the full year 2017, Crocs continues to expect sales to be down in the low-single digits compared with $1.036 billion in 2016. The FactSet consensus is for $1.012 billion. Crocs shares are up nearly 83% for the past year, outpacing the S&P 500 index which is up 20.4% for the 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

Shares of Five Below Inc. sank 6.3% in morning trade Monday, after the discount retailer provided a downbeat profit outlook despite a record holiday sales performance. The company said it expects fiscal fourth-quarter earnings per share of $1.09 to $1.16, which is below the FactSet consensus of $1.17. The company also expects revenue of $491 million to $503 million, compared with the FactSet consensus of $501.1 million, and same-store sales growth 4% to 6%, compared with expectations of a 5.6% increase. The company said the outlook comes on the heels of a 27% increase in net sales for the holiday period to $442.6 million, and a 6.7% jump in same-store sales, which was the best holiday-sales performance since the company went public in 2012. Five Below said its outlook doesn’t include any impact from recently enacted tax legislation. The stock, which closed at a record high on Jan. 4, has soared 18% over the past three months, while the SPDR S&P Retail ETF has climbed 11% and the S&P 500 has gained 7.5%.

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. stock indexes traded near break-even levels, taking a pause from their record-setting run after the Dow added 220 points last week. The S&P 500 was down a point, or less than 0.1%, to 2,742. The Dow Jones Industrial Average shed 8 points to 25,287. The Nasdaq Composite Index was flat at 7,136. If stocks end lower for the day, it would represent the first down day in 2018 in what has been the stock market’s strongest out-of-the-gate performance since 1964. Traders will deal with a raft of speeches from central bankers at the Federal Reserve, following comments last week from some that suggested a stronger outlook for growth in 2018.

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

GoPro Inc. said it was cutting its workforce by more than 20%, said it was exiting the drone market and provided a fourth-quarter revenue outlook that was well below expectations, citing “price protection” measures for several products. The action camera maker said it expects revenue of $340 million, well below the FactSet consensus of $472 million. The company said it would reduce its global workforce to fewer than 1,000 employees, from the current count of 1,254. Chief Executive Nicholas Woodman will cut his 2018 cash composition to $1. The restructuring will result in a charge of $23 million to $33 million, which will be mostly recognized in the first quarter. Woodman said that despite “significant marketing support,” consumers were reluctant to buy HERO5 Black cameras at the same price as last year, but sales increased sharply after the Dec. 10 price cut. The company said it cut prices over the weekend on HERO6 Black cameras by 20% to $399. The company said a “hostile” regulatory environment in the U.S. and Europe is expected to reduce the addressable market for its Karma Drone in the coming years, which will prompt the company to exit the aerial market. The stock was halted for news until 9:50 a.m. ET. It has plunged 24% over the past three months, while the S&P 500 has gained 7.6%.

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 Dave & Buster’s Entertainment Inc. tumbled 9.7% in premarket trade Monday, after the restaurant and games venue operator cut its 2017 profit and sales outlook. The company now expects fiscal 2017 net income of $108 million to $110 million, down from previous guidance of $110 million to $112 million. Revenue is now expected to be $1.138 billion to $1.142 billion, compared with a prior outlook of $1.148 billion to $1.155 billion, while the same-store sales guidance range was cut to down 1.0% to down 0.7% from flat to up 0.75%. “As indicated on our fiscal third-quarter conference call, we had a slower-than-expected start to the fourth quarter,” said Chief Executive Steve King. “We expected sales to improve during our seasonally strong weeks in December but instead trends softened further leading us to update our financial outlook for fiscal year 2017.” The stock has rallied 13.4% over the past three months through Friday, while the S&P 500 has gained 7.6%.

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

Walgreens Boots Alliance Inc. disclosed Monday it estimates a tax benefit of $200 million for fiscal 2018 as a result of the recently-enacted tax legislation. The drug store chain said it expects adjusted earnings per share to increase by 30 cents to 35 cents as a result of the legislation, which would be 5.3% to 6.2% above the current 2018 FactSet EPS consensus of $5.61. The company said in a filing with the Securities and Exchange Commission that it will provide a more comprehensive assessment of the full impact of the legislation, and plans to provide a further update in the future. The stock, which was little changed in premarket trade, has slipped 0.4% over the past three months, while the S&P 500 has gained 7.6%.

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

Whirlpool Corp. said Monday it will activate Apple Watch functionality for its home appliances in early 2018. Consumers will be able to remotely communicate with ovens, washers and dryers via Apple Inc.’s Apple Watch, with the roll out to more than 20 Whirlpool brand appliances. “Bringing intuitive technology and functionality to the appliance category that helps take the friction out of household chores is chief among our goals as we innovate for the smart home,” said Brett Dibkey, vice president of brand strategy. “Our consumers are sophisticated and expect their appliances to work smarter, not harder.” Separately, Whirlpool said it was collaborating with Honeywell International Inc. , to allow consumers to connect smart appliances from Whirlpool to Honeywell’s thermostats. Whirlpool’s stock was still inactive in premarket trade, while Apple shares eased 0.1%. Over the past three months, Whirlpool’s stock has dropped 7.1%, Apple shares have climbed 12.7%, Honeywell shares have tacked on 8.3% and the Dow Jones Industrial Average has rallied 11.1%.

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 Axovant Sciences Ltd. plunged 46% toward a record low in premarket trade Monday, after the biopharmaceutical company said it would discontinue its intepirdine program for the treatment of dementia after it failed to meet its primary efficacy endpoints in a phase 2 trials. “Based on the totality of intepirdine data to date, there is no evidence to support its further development,” said Chief Executive David Hung. “We are incredibly disappointed and saddened for the millions of people living with these difficult conditions, and are deeply grateful to the patients, caregivers and investigators who participated in our trials.” Separately, the company said its investigational drug nelotanserin met its primary safety endpoing in a phase 2 visual hallucination study. The stock has tumbled 24% over the past three months through Friday, while the iShares Nasdaq Biotechnology ETF has lost 3.2% and the S&P 500 has gained 7.6%.

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

New York City firefighters were responding to a blaze at Trump Tower, according to multiple reports Monday. The city’s fire department confirmed there was a fire on the roof of the 68-story building on Fifth Avenue in Manhattan, according to Pix11 News. Video online from CBS News showed smoke billowing from the top floors of Trump Tower, which contain businesses and residential units. There were no reports of injuries.

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 Olive Garden parent Darden Restaurants Inc. ran up 1.7% toward a record high in premarket trade Monday, after the company raised its fiscal 2018 adjusted profit outlook. The company, which restaurant brands also include LongHorn Steakhouse, Yard House and Bahama Breeze, said it now expects adjusted earnings per share of $4.70 to $4.78 up from its previous guidance of $4.45 to $4.53. Separately, said as a result of the Tax Cuts and Jobs Act, the company estimates it will record a non-cash benefit of $70 million, or 56 cents a share, related to the revaluation of deferred tax liabilities. The company said it plans to make a $20 million investment in its workforce in 2018. The stock has shot up 23% over the past three months through Friday, while the S&P 500 has gained 7.6%.

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