CarMax to add more than 2,000 workers by the end of the year

CarMax Inc. said Monday that it will add more than 2,000 workers by year-end. CarMax emphasized that these will be full-time workers rather than seasonal hires just for the holidays. Most of the positions will be as sales consultants, technicians, detailers and inventory associates. There are also several customer service positions available in Atlanta for CarMax Auto Finance, and others in Richmond, Va in digital and technology. CarMax currently has 24,000 workers. CarMax shares are about flat in early Monday trading, and up more than 50% for the last year. The S&P 500 index is up 20.3% for the last 12 months.

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

UPDATE: Exactech stock surges 31% on $625 mln acquisition by TPG Capital

Exactech Inc. shares surged 31% in morning trade Monday on news that the company will be acquired by private equity investment firm TPG Capital in a deal valued at $625 million. TPG Capital will acquire outstanding shares of Exactech stock for $42 per share in cash, above Exactech’s $32 per share price as of Friday’s close. Certain management shareholders’ shares will be exchanged for new equity securities, Exactech said. When the transaction closes, which is expected in the first quarter of next year, Exactech — which makes orthopedic implant devices and surgical instruments — will be privately-held and based in Gainesville, Florida. Exactech shares have surged 37.6% to $41.98 over the last three months, compared with a 4.2% rise in the S&P 500 .

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. stocks open at records, join global rally as investors weigh earnings

U.S. stock indexes inched higher to hit records in early trade Monday, following through on a global rally following Japanese Prime Minister Shinzo Abe’s election victory over the weekend as investors waded through a deluge of corporate earnings.The S&P 500 , Dow Jones Industrial Average and Nasdaq Composite closed at records on Friday. In early trade Monday, the S&P 500 was up 0.1% at 2,577.49, while the Dow advanced 12 points, or less than 0.1%, to 23,340, and the Nasdaq rose 0.1% to 6,637.

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

StubHub inks deal with the NFL to be league’s designated ticket resale marketplace

StubHub, the live events ticket retailer owned by eBay Inc. , said on Monday it has inked a deal with the National Football League designating the company as the league’s authorized ticket resale marketplace. The deal, starting with the 2018-2019 NFL season, means StubHub will be integrated with the main ticketing system of the league and all of its teams. This is the first time the NFL has allowed an independent marketplace to integrate with its ticketing system, and though the league is allowing other ticketing services to do the same, StubHub will be granted exclusive marketing rights and benefits, according to a news release. The company said it will also partner with the NFL to offer insight on consumer data. In addition to the NFL, StubHub has exclusive partnerships with more than 90 teams across Major League Baseball, the National Basketball Association, the National Hockey League and Major League Soccer. Shares of eBay are up nearly 27% in the year to date, while the S&P 500 index is up 15% and the Dow Jones Industrial Average is up 18%.

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

XPO Logistics to hire 6,000-plus seasonal workers, up from 1,000 last year

XPO Logistics Inc. , a supply-chain solutions company with more than 90,000 employees, said Monday that it will hire more than 6,000 seasonal workers in the U.S. That’s up from 1,000 last year, due mostly to e-commerce growth. XPO says it currently manages logistics for more than $85 billion in goods around the world. XPO Logistics shares are inactive in premarket trading, and up 98% for the last year. The S&P 500 index is up 20.3% for the past 12 months.

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

Arconic continues to ‘flip the table’ in earnings press releases

Arconic Inc. continues to “flip the table” in its earnings press releases, which refers to the practice of listing prior-year results in a financial statement to the left of current-year results. It’s a basic financial-reporting principle that tables are read from left to right, so Arconic’s practice in public press releases to have them read from right to left could mislead investors. In Arconic’s audited 10-Q filings with the Securities and Exchange Commission, the tables are read from left to right. On Monday, the aluminum producer’s year-ago earnings were higher than the current-year’s results, so some readers accustomed to reading tables from left to right may initially mistake the result to show earnings growth. The stock rallied 1.4% in premarket trade after Arconic beat revenue expectations but missed on earnings. The stock has climbed 7.8% over the past three months, while the S&P 500 has gained 4.2%.

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

Exactech stock halted on $625 mln acquisition by TPG Capital

Exactech Inc. shares were halted in premarket trade Monday on news that the company will be acquired by private equity investment firm TPG Capital in a deal valued at $625 million. TPG Capital will acquire outstanding shares of Exactech stock for $42 per share in cash, above Exactech’s $32 per share price as of Friday’s close. Certain management shareholders’ shares will be exchanged for new equity securities, Exactech said. When the transaction closes, which is expected in the first quarter of next year, Exactech — which makes orthopedic implant devices and surgical instruments — will be privately-held and based in Gainesville, Florida. Exactech shares have surged 4.9% over the last three months, compared with a 4.2% rise in the S&P 500 .

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

Netflix raising $1.6 billion in bond market to fuel content acquisition, production

Netflix Inc. said on Monday that it plans to offer $1.6 billion in senior notes in order to help raise money to continue its content acquisition goals. The company said the interest rate, redemption provisions, maturity date and other terms of the bond offering will be determined by negotiations between Netflix and the initial purchasers. Netflix said it also plans to use the proceeds for capital expenditures, investments, working capital and potential acquisitions and strategic transactions. The company made its first-ever acquisition as a company during its most recent third quarter for comic book company Millarworld, and management suggested in its quarterly earnings release that investors could expect further deals and acquisitions. After the company’s second quarter results Netflix completed its first-ever euro denominated bond deal of 1.3 billion euros. Shares of Netflix have gained nearly 57% in the year to date, while the S&P 500 index is up 15% and the Dow Jones Industrial Average is up 18%.

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

T-Mobile shares gain 2% premarket after company’s Q3 earnings beat expectations

Shares of T-Mobile US Inc. were up nearly 2% in premarket trade on Monday after the wireless phone company reported third-quarter earnings that were above Wall Street expectations. T-Mobile reported net income of $550 million for the quarter, or 63 cents per share, compared with income of $366 million, or 42 cents per share during the same period a year ago. FactSet’s per-share earnings consensus was 45 cents. Reported revenue was $10.019 billion, up from $9.305 billion during the year-prior period and up slightly compared with FactSet’s $10.016 billion revenue consensus. T-Mobile said it added 1.3 million customers during the quarter, and that it now covers 316 million Americans. The company said it plans to increase its coverage to 321 million by the end of the year. T-Mobile increased expectations on earnings before interest, taxes, depreciation and amortization for the full year 2017 to a range of $10.8 to $11.0 billion, up from $10.5 to $10.9 billion. Shares of T-Mobile have gained more than 5% in the year to date, while the S&P 500 index is up 15% and the Dow Jones Industrial Average is up 18% during the same time.

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

Kimberly-Clark shares slip after revenue miss

Kimberly-Clark Corp. shares slipped 0.4% in Monday premarket trading after the personal-care company reported third-quarter sales that missed expectations. Net income for the quarter totaled $567.0 million, or $1.60 per share, up from $550.0 million, or $1.52 per share, for the same period last year. The FactSet consensus was $1.54. Revenue totaled $4.64 billion, up from $4.59 billion and below the $4.66 billion FactSet estimate. Sales in the consumer tissue and K-C Professional segments rose, while the sales from the personal care segment, which includes Huggies diapers and baby wipes, fell. The company maintained its guidance for full-year 2017 EPS at the low end of the range of $6.20 to $6.35. The FactSet consensus is $6.20. Kimberly-Clark shares are down 9.5% for the last three months, and down 0.6% for the year so far. The S&P 500 index is up 15% for 2017 to date.

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