Category: Uncategorized

Coca-Cola Enterprises Inc. confirmed Thursday that it was combining with two other Coca-Cola bottlers to form Coca-Cola European Partners, with combined annual revenue of $12.6 billion. Coca-Cola Enterprises will own 48% of the combined entity and Coca-Cola Iberian Partners will own 34%. The other merger partner, Coca-Cola Erfrischungsgetränke AG, is a wholly-owned subsidiary of Coca-Cola Co. , so Coke will the remaining 18% of the combined entity. The companies expect to realize annual synergies of $350 million to $375 million within three years. The Wall Street Journal had reported last week the three bottlers were in talks on a combination. Coca-Cola Enterprises’ stock, which was still inactive in premarket trade, has surged 17% year to date, while the S&P 500 has gained 2%.

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

Michael Kors Inc. shares jumped almost 5% in premarket trade Thursday, after the luxury clothes and accessories company beat profit and sales estimates for its first fiscal quarter. The company said it had net profit of $174.4 million, or 87 cents a share, in the quarter, down from $187.7 million, or 91 cents a share, in the year-earlier period. Revenue rose 7.3% to $986 million. The FactSet consensus was for EPS of 75 cents and revenue of $944 million. “On a global basis we saw solid growth in accessories and footwear as these categories performed well in our retail stores and we experienced strong sell-through in our wholesale channel,” Chief Executive John Idol said in a statement. The company is now expecting second-quarter EPS of 86 cents to 90 cents, compared with the current FactSet consensus of 98 cents. Revenue is expected to range from $1.06 billion to $1.08 billion, compared with the FactSet consensus of $1.11 billion. Shares are down 47% in the year so far, while the S&P 500 has gained about 2%.

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

Elizabeth Arden Inc. reported a fiscal fourth-quarter net loss that narrowed to $108.7 million, or $3.65 a share, from $155.9 million, or $5.24 a share, in the same period a year ago. Excluding non-recurring items, such as costs associated with its performance improvement plan, the adjusted per-share loss was $1.57, wider than than the FactSet consensus for a loss of 65 cents. Net sales fell to $175.5 million from $191.7 million, as a 14% drop in North America sales offset a 4% increase in international sales. Adjusted sales declined 6.2% to $188.7 million. The FactSet consensus was for revenue of $188 million. For fiscal 2016, the beauty products company expects net sales to increase over 2015. The stock, which was halted for news dissemination, has tumbled 52% year to date, while the S&P 500 has gained 2%.

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

Viacom Inc. said Thursday it had net earnings of $591 million, or $1.47 a share, in its fiscal third quarter, compared with $610 million, or $1.40 a share, in the year-earlier period. Adjusted per-share earnings also came to $1.47, matching the FactSet consensus. Revenue fell 11% to $3.058 billion from $3.421 billion and was below the FactSet consensus of $3.206 billion. The revenue decline was due to a 44% decline in theatrical revenue in the filmed entertainment segment, which had no major releases in the quarter. Revenue at media networks rose by $6 million to $2.6 billion, driven by higher affiliate fees. Viacom is home to a wide range of networks, including Comedy Central, Nickloldeon, MTV, VH1, Spike, BET, CMT, TV Land, Nick at Nite, Nick Jr., Channel 5 (UK), Logo, Nicktoons, TeenNick and Paramount Channel. Shares were not yet active in premarket trade, but are down 32% in the year so far, while the S&P 500 has gained about 2%.

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

CF Industries Holdings Inc. said Thursday it has reached a deal to acquire the European and North American assets of Netherlands fertilizer maker OCI NV in an all-stock deal valued at $8 billion. The deal includes $2 billion in net debt. Under terms, CF shareholders would own 72.3% of the new company and OCI would own 27.7%. The deal will include OCI’s nitrogen production facilities in Geleen, Netherlands, and Wever, Iowa, as well as the company’s interest in an ammonia and methanol complex in Beaumont, Texas, among other assets. OCI shares were up 2% following the announcement.

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

An earthquake shook eastern Japan on Thursday evening local time, but no tsunami warnings have been issued. The epicenter of the earthquake, with a magnitude of 5.2, was in the region of Ibaraki-ken Hokubu, north east of Tokyo, Japan’s Meteorological Agency said on its website. The temblor shook buildings in the capital, but there were no immediate reports of damage, according to Reuters.

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

Designers dish on five things homeowners often get wrong and offer tips on how to get them right …read more

From:: DIY this old house

This Old House general contractor Tom Silva shares his secrets for producing tight-fitting mitered corner joints on crown molding …read more

From:: DIY this old house

WASHINGTON (MarketWatch) — In a private phone call in late spring, former President Bill Clinton encouraged Donald Trump to play a larger role in the Republican Party, The Washington Post reported, citing four Trump allies and one Clinton associate. The report said the talk with Clinton came just weeks before Trump entered the race. Clinton didn’t specifically encourage Trump to run for president, the report added. Heading into Thursday’s debate, Trump is leading the polls.

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

Tesla Motors beat expectations with its earnings report Wednesday, but shares fell in after-hours action as the company tempered expectations for 2015 deliveries. The electric-car company revealed a second-quarter loss of $184.3 million, or $1.45 a share, on revenue of $1.2 billion; after adjustments, Tesla said losses were $61 million, or 48 cents a share. Analysts surveyed by FactSet expected Tesla to report an adjusted loss of 60 cents a share on sales of $1.19 billion. Tesla also backed off claims that it would sell 55,000 cars this year, taking its estimate down to a range of 50,000-55,000. “Simply put, in a choice between a great product or hitting quarterly numbers, we will take the former,” CEO Elon Musk and Chief Financial Officer Deepak Ahuja said in a letter to shareholders. Tesla stock fell more than 7% in late trading after closing with a 1.5% gain at $270.13.

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