Tag: stock market

Sage Therapeutics Inc. shares rose 8.1% in pre-market trade Tuesday after the company said it had an expedited development plan for its postpartum depression treatment. The new plan for SAGE-547 comes after a formal meeting with the U.S. Food and Drug Administration and would support a potential approval filing with the agency in 2018, the company said. The company expects to release topline data from postpartum depression registration trials in the second half of next year. SAGE-547 was classified as a breakthrough therapy with the FDA in September, which allows the drug to be developed and possibly approved faster. Sage Therapeutics shares dropped 11.1% year-to-date, compared with a 7.9% 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

Altria Group Inc. said Tuesday that Philip Morris International Inc. has submitted a modified risk tobacco product application for an electronically heated product with the U.S. Food and Drug Administration. The FDA is now expected to decide whether to accept the application for substantive review, Altria said in a statement. If approved, Altria would have an exclusive right to sell the heated tobacco product in the U.S. Heated tobacco products heat tobacco enough to produce an inhalable steam, but do not reach the point of combustion that requires inhaling smoke into the lungs. Altria shares were slightly lower premarket, but have gained 9% in the year to date, while the S&P 500 has gained 7.9%.

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

Shares of Apple Inc. climbed 1% in premarket trade Tuesday, after Chief Executive Tim Cook tried to reassure investors that the Apple Watch was selling well. In an email to Reuters, Cook said Apple Watch sales to consumer set record in holiday week, and that it was doing great and looks to be one of the most popular holiday gifts, and that sales growth was off the charts. However, Cook did not provide actual sales data. His email followed a report by IDC that third-quarter Apple Watch shipments plunged 71% from a year ago. Apple’s stock has gained 3.7% year to date through Monday, while the SPDR Technology Select Sector ETF has climbed 10.1% and the Dow Jones Industrial Average has run up 10.3%.

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

Equinix Inc. said Tuesday it has agreed to acquire a portfolio of 24 data center sites from Verizon Communications Inc. in an all-cash deal valued at $3.6 billion. The sites consist of 29 data center buildings across 15 metro areas. The deal will increase interconnection in the U.S. and Latin America, allow the company expand in new markets in Bogota, Culpeper and Houston, and move the company into enterprise and strategic sectors, including government and energy. Equinix is an operator of data centers in the America, Europe and the Asia-Pacific region. The deal is expected to close by mid-2017. Equinix shares were slightly higher premarket, and are up 10% in the year to date, while the S&P 500 has gained 7.9%.

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

Synchronoss Technologies Inc. said Tuesday it has agreed to acquire cloud company Intralinks Holdings Inc. in a deal with an equity value of about $821 million. Synchronoss will pay $13 per Intralinks share in a deal expected to close late in the first quarter of 2017. Ron Hovsepian, chief executive of Intralinks, will become CEO of the combined company, with Synchronoss founder and current CEO Stephen Waldis taking the role of executive chairman of the board. “Together with Synchronoss, we believe we can deploy enhanced enterprise and mobile solutions to our customers while opening up new enterprise distribution channels across the world,” Hovsepian said in a statement. Synchronoss is expecting the deal to have no impact on its fourth-quarter financials. It offered initial 2017 guidance of revenue of between $810 million and $820 million and pro forma EPS of $2.45 to $2.60. The company is targeting $40 million of combined synergies within the first year of closing. Intralinks shares were indicating higher premarket, while Synchronoss shares were halted. S&P 500 futures were up 0.3%.

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

Shares of AutoZone Inc. rose 0.8% in premarket trade Tuesday, after the auto parts retailer reported fiscal first-quarter earnings that beat expectations, but sales that came up a bit short. Earnings for the quarter to Nov. 19, rose to $278.1 million, or $9.36 a share, from $258.1 million, or $8.29 a share, in the same period a year ago. The FactSet consensus for earnings per share was $9.31. Revenue increased 3.4% to $2.47 billion from $2.39 billion, below the FactSet consensus of $2.49 billion. Domestic same-store sales grew 1.6%, missing the FactSet consensus of 2.1%. Total auto parts sales, excluding domestic commercial, rose to $1.93 billion from $1.87 billion, matching the FactSet consensus of $1.93 billion. The stock gained 4.7% year to date through Monday, while the S&P 500 has climbed 7.9%.

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

Roper Technologies Inc. said Tuesday it has entered an agreement to buy Deltek in an all-cash deal valued at $2.8 billion. Roper said it expects the deal too boost 2017 cash flow by $80 million, to deliver $535 million of revenue and $200 million of EBITDA, excluding the impact of fair value accounting of Deltek’s deferred revenue. Roper makes software for the health care, transportation, food, energy, water, education and other markets. Deltek makes software for project-based businesses serving niche markets, including government contractors. The deal is expected to close before year-end. Roper will host a conference call on the transaction at 9.00 a.m. Eastern. Shares were not yet active in premarket trade, but are down 4.3% in the year so far, while the S&P 500 has gained 7.9%.

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

House builder Toll Brothers Inc. on Tuesday said fiscal fourth-quarter profit slid 16%, with profit hit by inventory- and warranty charges. Net income fell to $114.4 million, or 67 cents a share, from $147.2 million, or 80 cents a share, in the year-ago period. Revenue rose to $1.86 billion from $1.44 billion last year. Toll Brothers said the drop in earnings was due to $2.5 million of inventory impairments and a $121.2 million warranty charge primarily related to older stucco homes. Adjusting for those charges, profit came in at $291.8 million, compared to $236.7 million in the fourth quarter last year. Shares of the house builder were unchanged in premarket trade.

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

Netherlands-based JBS Foods International is seeking to raise around $500 million in an initial public offering, according a Securities and Exchange Commission filing submitted on Monday. JBS, one of the world’s largest food companies, reported net revenue of $33.71 billion and adjusted earnings before interest, taxes, depreciation, and amortization of $2.06 billion in the first nine months of the year.

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

TherapeuticsMD Inc. shares jumped in the extended session Monday after the women’s drug developer said a late-stage clinical trial showed its drug candidate reduced vasomotor symptoms in women going through menopause. TherapeuticsMD shares surged 22% to $7.52 after hours on heavy volume. Vasomotor symptoms include such occurrences as night sweats, hot flashes, and flushes. The company said its drug candidate TX-001HR significantly reduced the number and severity of these symptoms in menopausal and post-menopausal women compared to those treated with a placebo.

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