Tag: stock market

Gap Inc. said Thursday that sales for the month of May fell 5% to $1.18 billion from $1.25 billion for the same period last year. Same-store sales decreased 6%, with the company reporting declines at each of its brands. The namesake Gap brand saw same-store sales fall 3%. Same store sales at Banana Republic were down 11%. And at Old Navy, same-store sales were down 7%. The company said in a release that performance improved leading into the Memorial Day holiday weekend. Sunday and Monday of the holiday fell in the fiscal month of June, as opposed to May last year, which negatively impacted May results. Gap shares are up 4.5% in after-hours trading, but down 51.3% for the past year. The S&P 500 is down 0.2% 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

Broadcom Ltd. shares rose more than 6% late Thursday after the San Jose, Calif., chip maker formerly known as Avago reported better-than-expected adjusted second-quarter earnings and sales in line with forecasts. Broadcom said it earned $3.56 million, or $2.53 a share, in the second quarter, up from $2.13 a share in the second quarter of 2015. Revenue reached $3.54 million, up from $1.61 million from the year-ago quarter. Analysts polled by FactSet had expected the company to report adjusted earnings of $2.38 a share on sales of $3.55 million. The company also announced an interim dividend of 50 cents a share, up from 49 cents in March. The dividend is payable on June 30 to shareholders of record on June 17.

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 rose on Thursday with the S&P 500 closing above the 2,100-mark for the first time since April as oil prices rebounded on the back of a weekly drop in U.S. crude supplies. Crude oil had been pressured earlier after the Organization of the Petroleum Exporting Countries failed to reach an agreement to cap member production. July West Texas Intermediate crude rose 16 cents, or 0.3%, to settle at $49.17 a barrel, bouncing back from below $48.
The S&P 500 gained 6 points, or 0.3%, to close at 2,105 and the Dow Jones Industrial Average [S: DJIA] climbed 49 points, or 0.3%, to finish at 17,838. The Nasdaq rose 19 points, or 0.4%, to close at 4,971.

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

Oil futures settled higher on Thursday, buoyed by data showing weekly declines in U.S. crude supplies and production. The data outweighed earlier pressure from the Organization of the Petroleum Exporting Countries’ failure to reach a pact to cap output. July WTI crude settled at $49.17 a barrel on the New York Mercantile Exchange, up 16 cents, or 0.3%, recovering from an earlier dip below the $48 mark.

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

New York’s Court of Appeals, the highest court in the state, ruled Thursday that the 11-year civil-fraud lawsuit against the former chief executive of American International Group Inc. , Hank Greenberg, could proceed, the Associated Press reported. Greenberg’s legal team argued that the case should be dismissed because there are no remedies available to the New York Attorney General’s office. The court ruled that AG Eric Schneiderman could seek the return of ill-gotten profits, a ban from the securities industry, and a ban from serving as a director and officer of a public company. According to The Wall Street Journal, Greenberg, who denies any wrongdoing, also said the effort to ban him was a waste of taxpayer dollars.

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

Gold futures settled at more than three-month low Thursday on mounting expectations of an imminent U.S. interest-rate hike. Dallas Federal Reserve Bank President Robert Kaplan reiterated that the Fed should tighten the monetary policy as the economy continues to show signs of recovery while inflationary pressure has started to build, according to Reuters. June gold slipped $2.10, or 0.2%, to settle at $1,209.80, its lowest since Feb. 16.

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 Clearside Biomedical Inc. were up 12% in midday trade Thursday in the company’s debut on the Nasdaq. Shares were trading at $7.85, above the company’s $7 issue price. The company sold 7.2 million shares to raise $50.4 million. Cowen and Company and Stifel were the lead underwriters.

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 NantHealth Inc. were up 36% in the biotech company’s market debut on the Nasdaq Thursday. Shares were trading around $19 in midday trade, above the company’s $14 issue price. The company sold 6.5 million shares to raise $91 million. Jefferies LLC and Cowen and Company, LLC acted as the lead underwriters.

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 NantHealth Inc. were up 36% in the biotech company’s market debut on the Nasdaq Thursday. Shares were trading around $19 in midday trade, above the company’s $14 issue price. The company sold 6.5 million shares to raise $91 million. Jefferies LLC and Cowen and Company, LLC acted as the lead underwriters.

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

Signet Jewelers Ltd. shares are down 7.1% in Thursday trading after reports that an investment newsletter raised questions about the company’s credit operations and gem quality. Signet did not immediately respond to a request for comment. In its fiscal first-quarter report released last month, Signet said it has hired Goldman Sachs as a financial advisor as it conducts a strategic evaluation of its credit portfolio. Signet shares are down nearly 26% for the year to date while the S&P 500 is up 2.5% for the same period.

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