Category: Uncategorized

Shares of Fitbit Inc. were up 1% Tuesday morning, the day after the wearables company announced the launch of its smartwatch. Though Tuesday’s move was smaller than Monday’s intraday jump of up to 7%, analysts continue to see this product launch growing Fitbit’s revenues in 2018 and the future. Raymond James analysts said though the smartwatch is “less sleek and functional” than an Apple Watch , it has its advantages with its phoneless payment option, the launch of bluetooth headphones alongside the watch and an upcoming watch launch with Adidas. “Fitbit has an opportunity to essentially hold the smartwatch market position that has been vacated by Android given the poor quality and consumer acceptance of Androidwear smartwatches,” Raymond James analysts wrote. However, they note that the actual launch of watch will be the true test of success for this product, as launches of new products can often run into issues. Shares of Fitbit have gained 14% in the past month, while the S&P 500 has lost 1.5%.

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-market indexes opened lower on Tuesday, with the Dow industrials down by triple digits after a North Korean missile test over Japanese airspace rattled investors, prompting them to sell assets perceived as risky. The Dow Jones Industrial Average opened 133 points, 0.6%, lower at 21,678. The S&P 500 was down by 14 points, or 0.6%, to 2,429 at the open. Implied volatility as measured by the CBOE Volatility Index jumped 19%, but was still at relatively low level around 13. The Nasdaq Composite index declined 50 points, or 0.8% to 6,232. Among the worst performers on Wall Street, Best Buy Co., Inc. was down sharply despite estimate-beating earnings.

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 Movado Group, Inc. were climbing 9% in premarket trade Tuesday after the watch-maker beat second-quarter earnings expectations. Movado reported net income of $5.5 million, or 24 cents per share, down from $6.3 million, or 27 cents per share, in the year-earlier period. It reported adjusted earnings per share of 43 cents, above the FactSet consensus of 23 cents. Net sales were $128.8 million, up from $128.1 million in the year-earlier period, and above the FactSet consensus of $119 million. It updated its guidance, now reflecting the addition of the Olivia Burton brand, with net sales between $530 million and $545 million for the year and GAAP earnings per share of $1.50 to $1.65. Shares of Movado Group have gained 11.5% in the past three months, while the S&P 500 has gained 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 retailer J.Jill Inc. tumbled 10% in premarket trade Tuesday, after the company beat second-quarter earnings estimates and offered a slightly soft outlook. The company said it had net income of $11.9 million, or 28 cents a share, in the quarter, up from $8.1 million, or 19 cents a share, in the year-earlier period. Adjusted per-share earnings came to 29 cents, matching the FactSet consensus. Sales rose to $181.4 million from $165.0 million, also ahead of the FactSet consensus of $179 million. Same-store sales rose 7.8%, ahead of the FactSet consensus of 7.7%. For the third quarter, the company is expecting adjusted EPS of 18 cents to 20 cents, compared with the FactSet consensus of 20 cents. Same-store sales are expected to climb in the high single digits. For the full year, the company is expecting adjusted EPS of 81 cents to 85 cents, compared with a FactSet consensus of 84 cents. Shares are down 4.1% in the month to date, while the S&P 500 has fallen 1.1%.

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

DineEquity Inc. chain Applebee’s Neighborhood Grill + Bar said Tuesday that it has selected Stephen Bulgarelli as chief culinary officer. Bulgarelli joins after seven years with Chili’s, a Brinker International Inc. chain, where he was vice president for the last five years. He has also worked with chains like O’Charley’s and T.G.I. Friday’s. Applebee’s menu includes items like steaks, burgers and tacos. DineEquity shares are unchanged in premarket trading and down 48.2% for the year so far. The S&P 500 index is up 9.2% for 2017 so far.

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

The Advisory Board Company said Tuesday it has entered agreements to sell its health care business to health services company Optum, and its education business to private-equity firm Vista Equity Partners, in a deal with a total value of $2.58 billion. Vista will acquire the education business, including Royall & Company, for $1.55 billion, in a deal expected to close by year-end or early 2018. Optum will merge with the health care business for $1.3 billion, including debt, in a deal also expected to close by year-end or early 2018. The Advisory Board Co. shares were halted for the news, but have gained 50% in 2017, while the S&P 500 has gained 9%.

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

Hain Celestial Group Inc. shares soared 12.5% in Tuesday premarket trading after the food and beverage company issued upbeat fiscal 2018 guidance and beat fiscal fourth-quarter earnings. Hain Celestial’s portfolio of brands includes Celestial Seasonings, Arrowhead Mills, and Rudi’s Organic Bakery. Net income for the quarter totaled $313.0 million, or breakeven earnings per share, after a loss of $88.6 million, or 86 cents per share, for the same period last year. Adjusted EPS was 43 cents, beating the 40-cents FactSet consensus. Sales totaled $725.1 million, down from $737.5 million, but ahead of the $719.0 million FactSet estimate. Hain Celestial sees fiscal 2018 sales of $2.967 billion to $3.036 billion and adjusted EPS of $1.63 to $1.80. The FactSet consensus is for sales of $2.97 billion and EPS of $1.65. Hain shares are up 13.4% for the past three months, and 4.1% for the year to date. The S&P 500 index is up 9.2% for 2017 so far.

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

President Donald Trump said Tuesday that “all options are on the table” following North Korea’s missile test over Japanese airspace. U.S. stock futures were trading lower after the test, which occurred late Monday. Trump said the world “has received North Korea’s latest message loud and clear: this regime has signaled its contempt for its neighbors, for all members of the United Nations, and for minimum standards of acceptable international behavior.”

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