Tag: stock market

Shares of JetBlue Airways Corp. fell 1% in premarket trade Friday, after the air carrier said capacity growth outpaced traffic in May, while cutting its capacity growth outlook for the year. Traffic for the month increased 10.7% from a year ago, but capacity grew 12.1%, pushing May load factor down to 84.6% from 85.7%. Revenue per available seat mile (RASM) declined 7%. For the second quarter, RASM is now expected to fall between 7.5% to 8.5%, which is toward the lower end of previous expectations. For 2016, JetBlue reduced its outlook for capacity growth to between 8.0% and 9.5% from 8.5% to 10.5%. The stock has tumbled 19% year to date through Thursday, while the NYSE Arca Airline index has gained 2.2% and the S&P 500 has advanced 3.5%.

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The Brink’s Company board on Friday appointed Doug Pertz as the company’s new president and chief executive officer. Pertz takes over from George Stoeckert, who served as interim CEO after Thomas Schievelbein retired from the security services company in early May. Stoeckert will stay on until early July to ensure a smooth transition as Pertz takes the helm July 11, according to a news release. Pertz was previously president and CEO of Recall Holdings Limited , which also provides security services along with digital and physical information management. He was in that role since 2013 and led the company’s initial public offering. “Throughout his career, Doug has achieved consistent success in driving revenue and profit growth in challenging environments,” said Michael Herling, the company’s chairman of the board, in a statement. Brink’s shares are up 3.5% in the year to date, with the S&P 500 Index also up 3.5%.

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Borrowing costs on German government debt continued to fall on Friday, with the interest rate on 10-year bunds hitting a new record low. In early European trading hours, the yield on the German benchmark bund traded at around 0.021%, falling below its previous record low of 0.027% set on Thursday, according to electronic trading platform Tradeweb. Meanwhile in the U.K. gilts also traded close to historically low yields, although the 10-year yield rose to 1.249% on Friday. The flush of money going into German and U.K. government bonds comes as investors are flocking into safer assets on concerns about low growth in the global economy and the upcoming U.K. Brexit referendum.

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Sophiris Bio Inc. shares surged in the extended session Thursday after the tiny biotech’s prostate cancer treatment showed promising results in a mid-stage clinical study. Sophiris shares rallied 74% to $2.04 on heavy volume after hours. The company said its treatment topsalysin showed an ability to destroy tumor cells in nine out of the 18 prostate cancer patients treated in a clinical study. “These promising early results open up the possibility of treating early prostate cancer by the simple administration of an injection into the prostate – something that could be done in an office setting,” said Mark Emberton, an investigator on the study, in a statement.

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Mattress Firm Holding Corp shares sagged in the extended session Thursday after the mattress retailer’s first-quarter results fell short of expectations. Mattress Firm shares fell 11% to $29.75 after hours. The company reported an adjusted loss of 10 cents a share on revenue of $839.4 million. Mattress Firm had forecast a break-even to a loss of 7 cents a share for the quarter. Analysts surveyed by FactSet had estimated a loss of 4 cents a share on revenue of $867.2 million. For the year, the company sees adjusted earnings of $2.25 to $2.35 a share, compared with the analyst consensus of $2.49 a share.

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Shares of H&R Block Inc. soared in Thursday’s extended session after the tax services company said it is raising its quarterly dividend by 10% to 22 cents a share. H&R Block reported fourth-quarter earnings of $700.7 million, or $3.13 a share, compared with $738.8 million, or $2.66 a share, a year earlier. On an adjusted basis, the company earned $3.16 a share. Revenue remained flat at $2.3 billion. Analysts surveyed by FactSet had forecast earnings of $3.16 a share on revenue of $2.28 billion. However, H&R Block’s fiscal 2016 revenue fell 1.3% to $3.04 billion while EPS slipped to $1.53 from $1.75, which Chief Executive Bill Cobb characterized as unacceptable. Going forward, the company plans to focus on halting the decline in clients and lowering costs. It also said it will hold annual reviews on dividends and decisions on payouts will hinge on operating results and capital needs. H&R Block shares rose 7% after hours.

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Urban Outfitters Inc. shares fell 6.3% in Thursday after-hours trading after the company’s 10-Q filing said same-store sales in the company’s retail segment for its fiscal second quarter are declining in the mid single-digit percentage range. The retailer, whose brands include Free People, Anthropologie and its namesake Urban Outfitters line, reported first-quarter same-store sales of 1% for the retail segment. Urban Outfitters shares are up 22.8% for the year so far, but down 22.6% for the last 12 months. The S&P 500 is up 1.7% for the last year.

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Applied Materials Inc. announced Thursday that its board of directors had approved a new $2 billion stock-repurchase plan, coming on the heels of a $3 billion repurchase plan. The chip-equipment company also approved a quarterly dividend of 10 cents a share, payable on Sept. 15 to shareholders of record as of Aug. 25. The previous $3 billion repurchase plan was announced in April 2015, when Applied Materials gave up its planned blockbuster merger with Tokyo Electron. Applied Materials shares gained about 1% in late trading Thursday after the announcement.

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From:: Stock Market News

Applied Materials Inc. announced Thursday that its board of directors had approved a new $2 billion stock-repurchase plan, coming on the heels of a $3 billion repurchase plan. The chip-equipment company also approved a quarterly dividend of 10 cents a share, payable on Sept. 15 to shareholders of record as of Aug. 25. The previous $3 billion repurchase plan was announced in April 2015, when Applied Materials gave up its planned blockbuster merger with Tokyo Electron. Applied Materials shares gained about 1% in late trading Thursday after the announcement.

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Gold futures rose for a second-straight session on Thursday to settle at their highest level since May 18. Prices got a boost as expectations for a U.S. interest-rate increase in the coming months eased and the market weighed the likelihood that the United Kingdom may leave the European Union. Gold for August delivery settled at $1,272.70 an ounce, up $10.40, or 0.8%.

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