O’Reilly Auto shares fall on disappointing outlook

O’Reilly Automotive Inc. shares declined in the extended session after the auto-parts retailer’s earnings outlook fell below Wall Street estimates. O’Reilly shares fell 5.9% to $190.80 after hours. For the fourth quarter, the company estimated earnings of $2.65 to $2.75 a share, while analysts surveyed by FactSet expect earnings of $2.80 a share. The company reported third-quarter net income of $283.7 million, or $3.22 a share, compared with $278.5 million, or $2.90 a share, in the year-ago period. Revenue rose to $2.34 billion from $2.22 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $3.15 a share on revenue of $2.34 billion.

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From:: Stock Market News

HomeStreet Restructuring Mortgage Segment

As rising rates and a tight housing supply have hurt mortgage earnings at HomeStreet Inc., the company has taken steps to reduce the size of its home-lending business.

Before the provision for income taxes, the Seattle-based bank-holding company revealed in its third-quarter 2017 earnings report $20 million in income.

Earnings were slashed by more than half from the $43 million earned during the same-three months last year. But income improved from $16 million in the preceding quarter.


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From:: Financing

Mortgage Earnings, Originations Down at BOK

Mortgage earnings fell from the prior quarter and a year prior at BOK Financial Corp. Originations were also down and plunged from a year earlier.

The Tulsa, Oklahoma-based parent of Bank of Oklahoma disclosed in its third-quarter earnings report net income before taxes of $128 million.

Earnings improved compared to the same-three months last year, when the financial institution earned $107 million. But income came up short of the $137 million earned three months earlier.


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From:: Financing

Shares of Nutrisystem skid despite robust quarterly earnings, new buyback plan

Nutrisystem Inc. skidded in Wednesday’s extended session despite better-than-expected quarterly earnings and a new stock buyback plan. Nutrisystem reported its third-quarter earnings jumped to $15 million, or 49 cents a share, from $7.9 million, or 27 cents a share, a year earlier. Revenue rose 27% to $158.1 million. Analysts surveyed by FactSet had forecast earnings of 46 cents a share on revenue of $155 million. The company projected fourth-quarter revenue of $126 million to $131 million and earnings per share of 37 cents to 42 cents. Analysts are looking for revenue of $128 million and EPS of 39 cents in the current quarter. Nutrisystem also plans to buy back up to $50 million in shares once the existing program expires in November. Shares of the provider of weight management products tanked 12% after hours.

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From:: Stock Market News

Netgear shares fall in late trading after earnings, revenue beat

Netgear Inc. shares fell in the extended session Wednesday after the company beat Wall Street earnings expectations. Netgear shares were down 2.4% to $46.70 after hours. The company reported third-quarter net income of $20.8 million, or 64 cents a share, compared with $25.9 million, or 62 cents a share, in the year-ago period. Adjusted earnings were 81 cents a share. Revenue rose to $355.5 million from $338.5 million in the year-ago period. Analysts surveyed by FactSet had estimated 68 cents a share on revenue of $349.4 million. For the fourth quarter, analysts model earnings of adjusted earnings of 81 cents a share on revenue of $387 million. Netgear stock has fallen 12% this year, with the S&P 500 index rising 14.8%.

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From:: Stock Market News

ServiceNow shares fall 9% as company guides for 2017 billings below expectations

Shares of ServiceNow Inc. fell 9% late Wednesday after the Santa Clara, Calif., company narrowed its quarterly losses but called for adjusted subscription billings below expectations for the year. ServiceNow said it lost $24.2 million, or 14 cents a share, in the third quarter, compared with a loss of $36.3 million, or 22 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $69.3 million, or 38 cents a share, compared with $39.5 million, or 23 cents a share, a year ago. Revenue reached $498 million, compared with $357.7 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 32 cents a share on sales of $492 million. The company guided for subscription revenue around $1.73 billion, compared with expectations of $2.3 billion according to FactSet.

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From:: Stock Market News

Citrix falls 5% after earnings miss, but raises full-year outlook

Citrix Systems Inc. fell 5% in late trading Wednesday after the company reported earnings that missed expectations, but still increased its forecast for the full year. In a third-quarter report, the enterprise tech firm said it had net income of $127 million, or 82 cents a share, on revenue from continuing operations of $691 million, up from $669 million a year ago. After adjusting for stock-based compensation and other effects, the company claimed earnings of $1.22 a share, up from $1.06 a share last year. Analysts on average expected adjusted earnings of $1.60 a share on revenue of $773 million. Citrix increased its guidance for full-year profit despite the earnings miss, saying it expects to collect $4.79 to $4.81 a share for the year, after previously projecting a range of $4.60 to $4.65. Shares fell close to $78 in late trading after closing with a 0.9% loss at $82.43.

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From:: Stock Market News

Xilinx shares drop as revenue misses Street view

Xilinx Inc. shares dropped in the extended session Wednesday after the chip maker’s earning topped Wall Street estimates but revenue fell short of the consensus view. Xilinx shares fell 5% to $67.21 after hours. The company reported fiscal second-quarter net income of $168 million, or 65 cents a share, compared with $164 million, or 61 cents a share, in the year-ago period. Revenue rose to $620 million from $579 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 63 cents a share on revenue of $621 million. For the fiscal third quarter, Xilinx estimates revenue of $615 million to $645 million. Analysts expect revenue of $626 million.

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From:: Stock Market News

Buffalo Wild Wings rides boneless wings to earnings beat, raised outlook

After a difficult few months in which the price of buffalo wings affected finances, Buffalo Wild Wings Inc. seems to have found its way with boneless wings. The restaurant chain announced much better profit than expected in a third-quarter earnings report released Wednesday afternoon, despite revenue coming in a bit short of expectations, after announcing in July a focus on the boneless product that costs less. “The recent Tuesday promotion shift from traditional to boneless wings at company-owned restaurants will continue to improve cost of sales while traditional wing prices remain elevated,” Chief Executive Sally Smith said in Wednesday’s announcement, referring to the chain’s popular half-price wing specials on Tuesday. Buffalo Wild Wings reported net income of $18.7 million, or $1.17 a share, on total sales of $496.7 million, up from $494.2 million a year ago. After adjusting for stock-based compensation and other effects, the company claimed earnings of $1.36 a share. Analysts on average expected adjusted earnings of 79 cents a share on revenue of $501 million. The company also increased its forecast for full-year adjusted earnings to a range of $4.85 to $5.15 a share, after previously guiding to $4.50 to $5 a share. Buffalo Wild Wings stock was halted ahead of the announcement, and were expected to resume trading at 4:25 p.m. Eastern.

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From:: Stock Market News

New Home Sales Soar to Decade High

It’s been a decade since the pace of new home sales was as strong as it was last month. The biggest month-over-month increase was in the Northeast.

On a preliminary basis, sales of new privately owned single-family houses totaled 52,000 units during all of September 2017.

That brought the number of new residential properties sold during the first-nine months of this year to 474,000.


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From:: Financing