Imax shares fall after earnings miss Street view

Imax Corp. shares dropped in the extended session after the large-screen theater company fell short of Wall Street earnings estimates for the quarter. Imax shares fell 10% to $29.05 after hours. The company reported adjusted fourth-quarter earnings of 39 cents a share on revenue of $119.3 million. Analysts surveyed by FactSet had forecast earnings of 43 cents a share on revenue of $115.8 million.

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From:: Stock Market News

Tupperware shares sink after it misses 10-K filing deadline

Tupperware Brands Corp. shares were down 6.1% on Wednesday afternoon after the company said in an SEC filing that it completed its annual 10-K for the year ended Dec. 26, 2015. The company said it’s still assessing deficiencies related to the information technology systems used in its financial reporting. “Although the Company has not concluded its assessment of the effectiveness of its internal control over financial reporting, the Company believes that these deficiencies could represent a material weakness in its internal control over financial reporting,” the filing said. Tupperware expects to file the annual report and related documents within the 15-day extension period. Tupperware sahres are down 33.3% for the past 12 months while the S&P 500 is down 9.2% for the same period.

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From:: Stock Market News

Oil settles higher after volatile session

Oil futures finished higher after a volatile session on Wednesday, finding support from a weekly decline in U.S. crude production, as strong demand for gasoline pointed to a possible rise in demand for oil to make the fuel. A bigger-than-expected weekly increase in U.S. crude supplies, however, helped limit the gains for oil prices, however. April West Texas Intermediate crude added 28 cents, or 0.9%, to settle at $32.15 a barrel on the New York Mercantile Exchange. Prices traded between a low of $30.56 and a high of $32.36 during the session.

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From:: Stock Market News

CFPB to financial industry: Wake up and smell the coffee, we are not your enemy

Despite how it may be perceived, the Consumer Financial Protection Bureau doesn’t view itself as an “enemy” of the financial industry, nor does it want the industry to view it in that way. Rather, the CFPB wants the financial industry to think of it as “an important new friend and ally” in helping to serve the financial needs of the public, CFPB Director Richard Cordray said this week. …read more

From:: Real Estate Wire

Nevada Gov. Sandoval being vetted as Supreme Court pick: report

Nevada Gov. Brian Sandoval is being vetted by the White House for a potential nomination to the Supreme Court, the Washington Post reported, citing two people familiar with the process. The Post says the Republican governor is increasingly viewed by some key Democrats as perhaps the only nominee President Barack Obama could pick who could break a Republican blockade. Republicans have said they won’t vote or hold hearings on an Obama nominee to replace the late Justice Antonin Scalia.

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From:: Stock Market News

Ford’s stock price target lowered to $12 at Morgan Stanley

Ford Motor Co. is reaching its full earnings potential, and about to enter more challenging and uncertain times, analysts at Morgan Stanley said in a note Wednesday. The analysts cut their price target on Ford stock to $12 from $15, adding that Wall Street may be too bullish about the company’s earnings this year. Like its U.S. peers, Ford benefits from “strong market conditions” at home and in the European Union and China, the analysts said. “Moving forward, these markets are exposed to greater cyclical factors that present negative earnings risk,” they said. Shares of Ford fell 4.2% on Wednesday at $11.91. Shares are down 27% in the past 12 months, and 18% in the last three months; that compares with losses of 10% and 8.7%, respectively, for the S&P 500 index.

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From:: Stock Market News