Tag: stock market

Keane Group Inc. has filed for an initial public offering, with provider of well completion services looking to raise up to $287.5 million. The company expects to list its stock on the New York Stock Exchange under the ticker symbol “FRAC.” Citigroup, Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are the joint book-running managers. Keane, which was founded in 1973 in Lewis Run, Penn., said of its total 23 hydraulic fleets, 13 fleets were deployed as of Nov. 30.

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Shares of Express Scripts Holding Co. rose 1.1% in premarket trade Wednesday, after the pharmacy benefit management company affirmed its profit outlook, while raising its claims estimate due to a change in methodology in how they are reported. The company still expects adjusted 2016 earnings per share of $6.36 to $6.42, which surrounds the FactSet consensus of $6.39, and now expects 2017 adjusted EPS of $6.82 to $7.02, compared with expectations of $6.93. The 2016 net EPS outlook was raised to $5.28 to $5.34 from $4.47 to $4.53 because of a discrete tax benefit of 81 cents a share related to the disposition of PolyMedica Corp. The company said non-specialty network claims through its 90-day network programs will now be multiplied by three, as these claims tend to cover a time period three times longer than other network claims. As a result, it raised its 2016 total adjusted claims outlook to 1,400 million to 1,415 million from 1,265 million to 1,280 million. The stock has tumbled 16% year to date through Tuesday, while the S&P 500 has gained 11%.

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Donald Trump has selected former Texas Gov. Rick Perry to head the Energy Department, Trump’s transition team announced Wednesday morning. “As the governor of Texas, Rick Perry created a business climate that produced millions of new jobs and lower energy prices in his state, and he will bring that same approach to our entire country as secretary of energy,” Trump said in a statement. Perry, a former Republican presidential candidate, once advocated for eliminating the Energy Department.

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The planned evacuation of civilians and rebel fighters in eastern Aleppo expected to start early Wednesday, has been delayed amid fresh shelling, reported the BBC and other media outlets. The area is the last holdout of rebel fighters. One reason being cited for the holdup in evacuations was that the Syrian government has reportedly insisted that its injured fighters and civilians be moved out of nearby towns. Russia blamed the resumption of shelling on the rebels, saying they broke the ceasefire. The evacuation deal, brokered by Turkey and Russia was intended to allow for the safe passage out of eastern Aleppo by civilians and rebels from eastern Aleppo. Some 800 sick and injured people need to be immediately evacuated from the war-torn region, an opposition official told the Associated Press.

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Actor Alan Thicke, who left an indelible mark on 1980s sitcoms, died Tuesday at 69. Thicke suffered a heart attack in Los Angeles, according to the publicist for his pop-star son, Robin Thicke. The Canadian-born actor was best known for playing the beloved father in the hit family sitcom “Growing Pains” from 1985 to 1994. A noted composer, Thicke was nominated for three Emmy Awards in the 1970s, and wrote the catchy theme songs for “Diff’rent Strokes” and “The Facts of Life.” In recent years, he appeared in cameos on popular TV series such as “How I Met Your Mother” and “Fuller House.”

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Carl Icahn, chairman of Icahn Enterprises LP, greeted the appointment of Kathryn Marinello as the new chief executive of Hertz Global Holdings Inc. with lofty praise. “Kathy has a history as a proven CEO and I believe she is the right person to lead Hertz as we move forward. Her consistent track record of successes in consumer and financial services, as well as technology businesses, is impressive,” said Icahn in a statement. Icahn Enterprises is Hertz’s biggest shareholder. The car rental company said late Tuesday that Marinello will succeed CEO John Tague when he retires on Jan. 2. Shares of Hertz slid 3.3% after hours.

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Carl Icahn, chairman of Icahn Enterprises LP, greeted the appointment of Kathryn Marinello as the new chief executive of Hertz Global Holdings Inc. with lofty praise. “Kathy has a history as a proven CEO and I believe she is the right person to lead Hertz as we move forward. Her consistent track record of successes in consumer and financial services, as well as technology businesses, is impressive,” said Icahn in a statement. Icahn Enterprises is Hertz’s biggest shareholder. The car rental company said late Tuesday that Marinello will succeed CEO John Tague when he retires on Jan. 2. Shares of Hertz slid 3.3% after hours.

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The American Petroleum Institute late Tuesday reported an unexpected climb of 4.7 million barrels in U.S. crude supplies for the week ended Dec. 9, according to sources. Analysts and traders polled by The Wall Street Journal forecast a stockpile decline of 1.7 million barrels, on average. Supply data from the Energy Information Administration will be released Wednesday morning. January crude was at $52.43 a barrel in electronic trading, down from the contract’s settlement of $52.98 on the New York Mercantile Exchange.

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Harmonic Inc. shares slipped in the extended session Tuesday after the digital video infrastructure company said its financial chief plans to resign in the coming months. Harmonics shares fell 2.9% to $5.05 after hours. The San Jose, Calif.-based company said CFO Harold Covert will continue on until after the filing of the company’s annual report with the Securities and Exchange Commission. In the meantime, Harmonic has launched a search for a new CFO.

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International Business Machine Corp. Chief Executive Ginni Rometty said Tuesday the tech firm plans to hire about 25,000 new workers over the next four years. In an opinion piece for USA Today, Rometty called the new hires “new collar” jobs, meaning not traditional white collar or blue collar positions but those “that employers in many industries demand, but which remain largely unfilled.” IBM plans to hire about 6,000 U.S. workers to these positions in 2017, Rometty said. The announcement comes after a slew of layoffs at Big Blue with an estimated 14,000 workers laid off back in May. At the end of 2015, IBM reported having just under 378,000 workers worldwide, down from around 434,000 at the end of 2012. IBM shares were unchanged after hours, after closing up 1.7% at $168.29 Tuesday.

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