Tag: stock market

Sucampo Pharmaceuticals Inc. shares were down 19.33% in pre-market trade Tuesday after the company said its drug missed its primary endpoints in a phase 2a trial. The company said it would stop developing the drug, cobiprostone, to treat gastroesophageal reflux disease and instead focus on developing it for oral mucositis, a complication of cancer treatment, a disease the company said has “very different underlying pathophysiology and clinical endpoints.” Sucampo stock was trading at $9.14 before the bell, compared with Monday’s closing price of $11.33. Sucampo shares have declined 13.58% in the past three months, compared with an 11.32% rise in the S&P500.

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

SuperValu Inc. said Tuesday that it has named James Weidenheimer to the newly-created position of chief innovation officer, effective April 25. Weidenheimer will work with the wholesale and retail teams on new business development, cross-channel promotions and other duties. He comes to SuperValu from C&S Wholesale Grocers where he held a number of senior leadership positions over the past 16 years. He retired from that company in January. SuperValu has also added the chief financial officer title to Bruce Besanko’s role at the company. Besanko is already the chief operating officer. SuperValu shares are inactive in premarket trading, but down 50.1% for the past 12 months. The S&P 500 is down 0.6% for the past 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

Harley-Davidson Inc.’s stock shot up 6.5% in premarket trade Tuesday, after the motorcycle seller beat first-quarter profit, sales and motorcycle shipment expectations. Earnings for the latest quarter came to $250.5 million, or $1.36 a share, compared with $269.9 million, or $1.27 a share, in the same period a year ago. That beat the FactSet earnings-per-share consensus of $1.29. Revenue rose to $1.58 billion from $1.51 billion, above the FactSet consensus of $1.50 billion, as strength in international sales helped offset a slight decline in domestic sales. Motorcycle shipments increased 4.3% to 83,036, above the company’s guidance provided in January of 78,000 to 83,000. The company affirmed its full-year outlook of 269,000 to 274,000. “The increased marketing and new product investments are beginning to take hold and we anticipate continued progress across our focus areas as we dial in and ramp-up our approach,” said Chief Executive Matt Levatich. The stock has gained 3.4% year to date through Monday, compared with a 2.5% 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

Harley-Davidson Inc.’s stock shot up 6.5% in premarket trade Tuesday, after the motorcycle seller beat first-quarter profit, sales and motorcycle shipment expectations. Earnings for the latest quarter came to $250.5 million, or $1.36 a share, compared with $269.9 million, or $1.27 a share, in the same period a year ago. That beat the FactSet earnings-per-share consensus of $1.29. Revenue rose to $1.58 billion from $1.51 billion, above the FactSet consensus of $1.50 billion, as strength in international sales helped offset a slight decline in domestic sales. Motorcycle shipments increased 4.3% to 83,036, above the company’s guidance provided in January of 78,000 to 83,000. The company affirmed its full-year outlook of 269,000 to 274,000. “The increased marketing and new product investments are beginning to take hold and we anticipate continued progress across our focus areas as we dial in and ramp-up our approach,” said Chief Executive Matt Levatich. The stock has gained 3.4% year to date through Monday, compared with a 2.5% 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

At least 28 people have been killed and more than 320 injured in a a suicide car bombing in Kabul, media reports said. After the vehicle explosion, armed men stormed the area close to Ministry of Defense buildings in the Afghanistan capital, the BBC reported. A gunfight followed the bomb, which went off during Tuesday morning rush hour. An Afghan Taliban group has claimed responsibility for the attack, reports said. “First a suicide bomber blew up his explosives-laden lorry on the gate of the department and then other armed attackers went in and started shooting on the rest of the enemies,” the group said in a statement cited by CNN.

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

WASHINGTON (MarketWatch) – Wells Fargo Securities has joined the ranks of the Federal Reserve’s primary dealers of U.S. government securities, the central bank announced Monday. Primary dealers trade directly with the Fed and are required to bid at Treasury auctions.

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 Rambus Inc. tanked in Monday’s extended session after the technology licensing company issued a weak outlook for the current quarter. Rambus reported its first-quarter earnings shrank to $1.88 million, or 2 cents a share, from $9.5 million, or 8 cents a share, a year earlier. On an adjusted basis, the company earned 13 cents a share. Revenue fell to $72.7 million from $72.9 million. Analysts surveyed by FactSet had forecast earnings of 5 cents a share on revenue of $73.3 million. Rambus projected second-quarter revenue of $72 million and $77 million, below analysts’ outlook of $78.7 million. Shares skidded 9.9% in after-hours trading.

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

International Business Machines Corp. rose in Monday’s extended session after the technology giant turned in better-than-expected earnings but posted an year-on-year drop in revenue for a 16th straight quarter. IBM reported its first-quarter earnings slid to $2.01 billion, or $2.09 a share, from $2.33 billion, or $2.35 a share, a year earlier. Excluding charges and items, Big Blue would have earned $2.35 a share. Revenue declined to $18.68 billion versus $19.59 billion. Analysts surveyed by FactSet had forecast adjusted earnings of $2.09 a share on revenue of $18.29 billion. IBM shares climbed 1.3% in after-hours trading.

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

The Dow Jones Industrial Average on Monday closed above the key 18,000 mark for the first time since July as better-than-expected corporate earnings offset the disappointment over the failure of oil producers to limit crude output during a meeting in Doha, Qatar, over the weekend. However, companies like Hasbro Inc. and PepsiCo Inc. , which reported early Monday, turned in robust quarterly earnings, helping to soothe investors’ sentiment. The Dow Jones Industrial Average gained 106 points, or 0.6%, to end at 18,004, while the S&P 500 rose 13 points, or 0.7%, to close at 2,094. The Nasdaq advanced 21 points, or 0.4%, to finish at 4,960.

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

Nordstrom Inc. said on Monday that it expects to cut between 350 and 400 jobs as it undergoes changes to its operating model. The changes are estimated to save about $60 million in fiscal 2016. Most of the positions will be among the corporate center and regional support teams, with cuts to be completed by the end of the second quarter. The retailer will first look at closing unfilled job openings, according to a release. Laid off employees will receive separation pay and benefits. Nordstrom shares are up 0.8% in Monday trading, but down 31.8% over the past year. The S&P 500 is up 0.6% for the past 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