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Shares of Keurig Green Mountain tumbled more than 25% after the company reported a year-over-year decline in sales for coffee pods and at-home brewing machines. The company reported a 27% year-over-year decline in GAAP earnings, with net income falling to $113.6 million, or 73 cents a share, versus $155.2 million, or 92 cents a year ago. Adjusted for one-time costs, Keurig reported non-GAAP earnings per share of 79 cents, topping average analyst estimates by a penny, according to FactSet. The company reported third-quarter revenue of $969.5 million, down 5% year-over-year and below the $1.04 billion analysts were expecting. The company’s chief executive, Brian Kelley, said he was “not pleased” with the growth, but was happy that adjusted earnings came in at the high-end of the company’s guidance. Pod sales were down 1% year-over-year, while brewing machines and accessories fell 26%. The company also announced a $1 billion stock buyback program and said it planned to cut 5% of its workforce.

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CBS Corp. reported second-quarter net profit of $332 million, or 67 cents per share, compared with $439 million, or 76 cents per share in the year-earlier period. Adjusted net earnings from continuing operations of $365 million, or 74 cents per share, compared with $418 million, or 72 cents a share, in the same period a year ago. Adjusted results included restructuring charges of $55 million, which were related to the company’s radio and TV operations. The FactSet consensus was for per-share earnings consensus of 72 cents. The company said revenue was $3.22 billion, compared with $3.19 billion during the year prior period. FactSet consensus on revenue was $3.21 billion. CBS shares were down 0.44% in after hours trade.

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Shares of Fitbit initially rose 5%, but then fell 12% in after-hours trade Wednesday, after the company beat second-quarter sales and profit expectations, but provided a mixed outlook. Fitbit reported GAAP net income of $17.7 million, or 7 cents per share, above $14.8 million, or 7 cents per share, in the year-earlier period. Fitbit reported non-GAAP earnings per share of 21 cents. The FactSet consensus was 9 cents. The company reported sales of $400 million, above the FactSet consensus of $319 million. For the third quarter, Fitbit said it expects revenue in the range of $335 million to $365 million and non-GAAP EPS in the range of 7 cents to 10 cents, compared with FactSet consensus estimates for revenue of $262.9 million and EPS of 7 cents.

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A recent report shows 56 percent of millennials with current or past student loans have delayed major life events because of their debt, compared with 43 percent of older adults, according to a new Bankrate.com study. Buying a home is the most common event people have delayed due to student debt, trailed closely by saving […] …read more

From:: Finance and Economy

West Texas Intermediate crude oil for September delivery on Nymex fell 59 cents, or 1.3%, to end at $45.15 a barrel on Wednesday, the lowest settlement for a most-active contract since March. Oil futures gave up early gains. A fall in weekly U.S. crude inventories was offset by a rise in supplies of gasoline and other products, while a stronger dollar also weighed on the market.

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From:: Stock Market News

West Texas Intermediate crude oil for September delivery on Nymex fell 59 cents, or 1.3%, to end at $45.15 a barrel on Wednesday, the lowest settlement for a most-active contract since March. Oil futures gave up early gains. A fall in weekly U.S. crude inventories was offset by a rise in supplies of gasoline and other products, while a stronger dollar also weighed on the market.

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Malaysia’s prime minister Najib Razak said Wednesday a piece of aircraft found on a beach in the Indian Ocean’s Reunion Island is from the missing Malaysia Airlines Flight 370, according to reports. The plane disappeared in March 2014 en route to Beijing from Kuala Lumpur with more than 200 people on board.

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From:: Stock Market News

Malaysia’s prime minister Najib Razak said Wednesday a piece of aircraft found on a beach in the Indian Ocean’s Reunion Island is from the missing Malaysia Airlines Flight 370, according to reports. The plane disappeared in March 2014 en route to Beijing from Kuala Lumpur with more than 200 people on board.

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Gold futures finished at their lowest level in nearly two weeks Wednesday and almost closed at its lowest level in five years. Under siege from a strong dollar and the prospect of an imminent interest-rate hike. December gold lost $5.10, or 0.5%, to settle at $1,085.60 an ounce, after closing marginally higher on Tuesday at $1,090.70 an ounce. Gold’s settlement on July 24 at $1,085.50 an ounce was the lowest settlement for a most active contract since Feb. 10, 2010.

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Ride-hailing company Uber is operating with heavy losses, according to Gawker. Citing internal documents Gawker said it had obtained, the online publication reported that Uber had unaudited net losses of $56.5 million in 2013 and had an accumulated net loss of $160 million for the first half of 2014. At the same time Uber had unaudited revenue of $104 million in 2013 and then about $103 million for the first half of 2014, according to the documents. The company, which has a reported $51 billion valuation and just raised close to $1 billion, is expected to go public in the near-term. Losses are not uncommon for a fast-growing tech startup.

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From:: Stock Market News