Dutch soccer great Johan Cruyff dies of cancer at 68

Dutch soccer star Johan Cruyff has died at home in Spain at the age of 68, after suffering from lung cancer for years. “On March 24, 2016 Johan Cruyff (68) died peacefully in Barcelona, surrounded by his family after a hard fought battle with cancer. It’s with great sadness that we ask you to respect the family’s privacy during their time of grief,” said a statement Thursday on the World of Johan Cruyff website. Regarded as one of the best players of all time, Cruyff led the “Total Football”-era Holland team to the final of the 1974 World Cup, where they lost to West Germany. He rose to fame as a forward in the Ajax and Barcelona teams, then went on to manage Barcelona as head coach.

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Yahoo’s stock gains as Starboard moves to take control

Yahoo Inc.’s stock rose 0.8% in premarket trade Thursday, bucking the sharp weakness seen in the broader market, after activist investor Starboard Value LP confirmed that it was nominating nine people to the Internet company’s board of directors. Starboard said it owns about 1.7% of Yahoo’s outstanding shares. In a letter to Yahoo shareholders, Starboard said it believes Yahoo is “deeply undervalued,” and opportunities exist to unlock significant value for shareholders. “Unfortunately, as we have outlined in previous letters, we have been extremely disappointed with Yahoo’s dismal financial performance, poor management execution, egregious compensation and hiring practices, and general lack of accountability and oversight by the Board,” Starboard wrote. “We believe the Board clearly lacks the leadership, objectivity, and perspective needed to make decisions that are in the best interests of shareholders.” The Wall Street Journal had reported late Wednesday that Starboard was looking to replace Yahoo’s entire board. The stock has tumbled 22% over the past 12 months, while the S&P 500 has slipped 2.6%.

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Portola stock tumbled after disappointing phase 3 trial data

Portola Pharmaceuticals Inc. stock dropped nearly 27% in active pre-market trade Thursday after phase 3 trial results missed study thresholds. The study tested two different anti-coagulation medications in preventing venous thromboembolism, or blood clots in acutely ill patients who had been hospitalized from conditions such as heart failure and stroke. The 7,513 enrolled patients were split into three groups, of which the first group’s results missed the study’s threshold, though the other two, larger groups met the measure, the company said. Portola also said there was no statistical difference in major bleeding between the two anticoagulation medications in the patients. The results “will be subject to discussions with regulatory agencies,” Portola chief executive officer Bill Lis said, adding that the company believed in the trial’s “overall robustness.” About 20 million patients in G7 countries are at risk for venous thromboembolism during or after a hospital stay, the company said.

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Finish Line’s stock surges after profit, sales beat expectations

Finish Line Inc.’s stock surged 3.2% in premarket trade Thursday, after the athletic apparel retailer beat fiscal fourth-quarter profit and sales expectations. For the quarter ended Feb. 27, earnings fell to $4 million, or 9 cents a share, from $40.8 million, or 87 cents a share, in the same period a year ago. Excluding a one-time charge for the write-off of technology assets, adjusted earnings per share were 83 cents, above the FactSet consensus of 80 cents. Revenue rose 5.2% to $580.3 million and same-store sales increased 4.6%, compared with the FactSet revenue consensus of $568 million and same-store sales consensus of 3.7%. The company expects adjusted EPS of for the current fiscal year of $1.50 to $1.56 and same-store sales growth of 3% to 5%, compared with expectations for EPS of $1.70 and for same-store sales growth of 2.8%. The stock has climbed 4.8% year to date through Wednesday, while the S&P 500 has slipped 0.4%.

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U.K. ready to fight lawsuits over sugar tax, says Treasury chief

The U.K. government is prepared to fight lawsuits from companies challenging its plans to tax sugary soft drinks, Treasury chief George Osborne said Thursday. “Bring it on,” he said during testimony before the Treasury Select Committee. Osborne addressed news reports saying drink makers were set to sue the government over the two-tiered levy. “Don’t waste time and money on a legal challenge,” said Osborne. The tax will take effect in 2018, which gives companies two years to reformulate their drink recipes, he said. The planned tax has been “warmly welcomed” by health and education specialists, the Chancellor of the Exchequer said.

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Accenture beats profit and sales expectations, lifts earnings outlook

Accenture PLC reported fiscal second-quarter earnings that rose to $1.39 billion, or $2.08 a share, from $731.8 million, or $1.08 a share, in the same period a year ago. Excluding a one-time gain from the sale of Navitaire, adjusted earnings per share came to $1.34, above the FactSet consensus of $1.18. Total revenue increased to $8.4 billion from $7.93 billion, above the FactSet consensus of $8.1 billion. Looking ahead, the business consulting company expects fiscal third-quarter revenue of $8.1 billion to $8.35 billion, surrounding the FactSet consensus of $8.17 billion. The company raised its full-year adjusted EPS outlook to $5.21 to $5.32 from $5.09 to $5.24, compared with the FactSet consensus of $5.21. The stock, which was still inactive in premarket trade, has gained 3% year to date while the S&P 500 has lost 0.4%.

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