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From:: DIY this old house
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From:: DIY this old house
Syngenta rejects $42 billion bid by ChemChina: Bloomberg
Syngenta AG has rejected an initial takeover offer worth almost $42 billion from China National Chemical Corp., Bloomberg reported, citing people with knowledge of the matter. Though that bid was turned down due to regulatory risks, talks between the Swiss pesticide maker and state-owned ChemChina are still going on, the report said Friday. No deal is in sight, and Syngenta is also talking to other potential buyers, Bloomberg said. The Swiss company is already discussing a potential combination with DuPont’s agriculture division, the Wall Street Journal reported last week, while it rebuffed Monsanto’s effort to buy Syngenta for up to $46 billion earlier this year.
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From:: Stock Market News
Fed’s Fischer sees U.S. economy overcoming dollar rise and foreign weakness
WASHINGTON (MarketWatch) – The U.S. economy is overcoming the “sizable shock” from the dollar’s appreciation and foreign weakness, said Federal Reserve Vice Chairman Stanley Fischer, on Thursday. “The U.S. economy appears to be weathering them reasonably well,” Fischer said in a speech to a conference on rate policy hosted by the U.S. central bank. The dollar has appreciated by 15% since July 2014, and it will remain a drag on gross domestic product well into next year, Fischer said. The Fed Vice Chair said the strong dollar is also holding down inflation. Overall inflation, as measured by the personal consumption expenditure index, is likely to rebound next year to around 1.5%, from the latest reading of 0.2% in September, once the effects of the stronger dollar and lower energy prices recede, he said. The comments from Fischer, which echo Fed Chair Yellen’s recent statements that the U.S. central banks expects the economy to get through the foreign turbulence, add to the growing sense the central bank will hike rates in December.
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From:: Stock Market News
Illumina shares advance on addition to S&P 500
Illumina Inc. shares advanced in the extended session Thursday with the genetic analysis products company set to join the S&P 500 Index . Illumina shares rose 4.3% to $162. S&P Dow Jones Indices said that Illumina will be added to the index after the close Nov. 18, replacing Sigma-Aldrich Corp. , which is being acquired by Merck KGaA .
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.
From:: Stock Market News
Lions Gate shares decline on secondary offering plan
Lions Gate Entertainment Corp. shares declined in the extended session Thursday after the company announced a secondary offering of shares. Lions Gate shares fell 4.8% to $39.11. The company said units of Liberty Global PLC and Discovery Communications Inc. will offer about 3.4 million shares through underwriter J.P. Morgan to hedge derivatives obligations transactions. The units bought 10 million Lions Gate shares from existing shareholders and each unit entered derivatives transactions for 2.5 million shares each with Bank of America, Lions Gate said.
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From:: Stock Market News
Planet Fitness shares jump on earnings, outlook beat
Planet Fitness Inc. shares rallied in the extended session Thursday after the gym chain’s quarterly results and outlook topped Wall Street estimates. Planet Fitness shares rose 7.1% to $16.10. The company reported adjusted third-quarter earnings of 10 cents a share on revenue of $68.8 million. Analysts surveyed by FactSet had estimated 9 cents a share on revenue of $66.6 million. The company forecast adjusted full-year earnings of 51 cents to 52 cents a share on revenue of $318 million and $321 million. Analysts estimate 47 cents a share on revenue of $314.9 million.
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.
From:: Stock Market News
Blue Buffalo shares pop after posting better-than-expected results
Shares of Blue Buffalo Pet Products Inc. soared in Thursday’s extended session after the natural pet-food company turned in results ahead of Wall Street’s expectations. Blue Buffalo reported third-quarter earnings of $27.1 million, or 14 cents a share, compared with $27.7 million, or 14 cents a share, a year ago. On an adjusted basis, the company earned 17 cents a share, better than the 14 cents a share projected by analysts in a FactSet survey. Revenue grew to $259.4 million from $234.8 million. Analysts had forecast revenue of $258 million. For 2015, Blue Buffalo expects adjusted EPS of 60 cents and sales of $1.02 billion. Blue Buffalo shares are up 11% in after-hours trading.
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From:: Stock Market News
Yum Brands says sales in China up 5%, stock gains
Yum Brands Inc. shares rose more than 5% late Thursday after the Louisville, Ky.-based fast-food chain said its same-store sales in China rose an estimated 5% in October after 6% growth in September. The results include estimated growth of 10% for the company’s KFC brand and a decline of 9% for its Pizza Hut brand. The company reiterated its guidance of same-store sales growth of up to 4% in the fourth quarter in China. Yum Brands said it will release November same-store sales numbers for China on Dec. 10 during its investor day. Shares of Yum Brands ended the regular trading day down 1.9%. The company said last month it would spin off its China business by the end of next year after cutting its outlook earlier in October, largely on sales woes in China.
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From:: Stock Market News
Applied Materials stock rises on strong quarterly earnings
Shares of Applied Materials Inc. climbed 2.5% in after-hours trade Thursday, following in-line fourth-quarter earnings and sales. The company reported net income of $336 million, or 28 cents a share, compared with $256 million, or 21 cents, in the year-earlier period. Excluding one-time items, earnings per share came to 29 cents, matching analyst expectations, according to FactSet. Net sales were up 5% to $2.37 billion, virtually in-line with the Street’s expectation of $2.4 billion, as orders rose 7%. The company attributed the quarterly gains to growth in its chip, display and service businesses. Looking toward the fourth quarter, Applied Materials expects adjusted EPS in the range of 23 cents to 27 cents, compared with the FactSet consensus of 24 cents. Its shares traded up around $17 in after-hours trade after closing down 1.5% to $16.53 in the regular session.
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.
From:: Stock Market News