Tag: stock market

Discount retailer The TJX Companies Inc. said Tuesday it is raising its quarterly dividend by 24% to 26 cents a share. The new dividend will be payable June 2 to shareholders of record as of May 12. The company said it is also planning to buy back $1.5 billion to $2.0 billion of its own stock in fiscal 2017. Shares were slightly higher in midmorning trade, and are up 12% in the last 12 months, while the S&P 500 has lost 1.3%.

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

Supermarket chain Supervalu inc. said Tuesday it will switch to selling 100% cage-free eggs at its grocery stores by 2025, or sooner. The company said cage-free eggs currently account for nearly 12% of its total grocery retail egg sales. The transition will take time because of the low availability of cage-free eggs, it said in a statement. In August, Supervalu’s Wild Harvest committed to selling 100% cage-free eggs by the end of 2015, a goal that it has achieved. The company said it would provide annual reports on its progress. Shares were trading down 2%, and are down about 52% in the last 12 months, while the S&P 500 has lost 1.4%.

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 opened lower on Tuesday, as a slump in oil prices hit energy and materials companies. A better-than-expected reading on U.S. home prices lifted home builders, such as Lennar Corp. . The S&P 500 opened 5 points, or 0.2%, lower at 2,031. The Dow Jones Industrial Average fell 58 points, or 031%, to 17,477. Meanwhile, the Nasdaq Composite began the day down 12 points, or 0.2%, at 4,754.

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

Keryx Biopharmaceuticals shares were up 21% in pre-market trade after the company announced its kidney disease medication met phase 3 endpoints early Tuesday. The ferric citrate medication is intended to treat iron deficiency anemia in adults with chronic kidney disease, which about 1.6 million Americans are affected by, the company said. The phase 3 results of the 24-week, 234-patient trial were statistically significant and met primary and pre-specified secondary endpoints, the company said.

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

SunEdison Inc.’s stock plunged 40% in premarket trade Tuesday toward a record low, after its yieldco TerraForm Global Inc. said in a filing that there is “a substantial risk” that SunEdison will file for bankruptcy soon. The stock, which was the most active ahead of the open with 3.8 million shares traded, is set to trade below $1 for the first time since the renewable energy company went public in July 1995. “SunEdison has not performed as obligated” with respect to financial reporting, and has also not been able to contribute to projects in Uruguay and India, TerraForm said in a filing Tuesday. “In addition, due to SunEdison’s liquidity difficulties, there is a substantial risk that SunEdison will soon seek bankruptcy protection.” Separately, the Securities and Exchange Commission is investigating SunEdison’s disclosures about how much cash it had on hand. Shares of TerraForm, which was spun off from SunEdison in July 2015, tumbled 20% premarket. SunEdison’s stock has plummeted 75% year to date through Monday, while the S&P 500 has slipped 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

The hijacking of an EgyptAir flight Tuesday has ended, and the hijacker has been arrested, officials from the airline and Cyprus said Tuesday. Flight MS181 carrying 64 people from Alexandria, Egypt, was forced by the armed hijacker to land at Larnaca Airport in Cyprus early Tuesday morning. “Its over. The hijacker arrested,” Cyprus’s Ministry of Foreign Affairs wrote on its Twitter page. EgyptAir on its Twitter page “declared the release of all of the hostages,” as well as the hijacker’s arrest. There have been no reports of deaths or injuries.

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

Chipotle Mexican Grill Inc.’s stock dropped 1.3% in light premarket trade Tuesday, after Wedbush Securities turned bearish on the fast-casual restaurant chain, citing an “overly optimistic” valuation. Analyst Nick Setyan cut his rating to underperform, after being at neutral since January 2014. He slashed his stock price target to $400, which is 16% below Monday’s closing price, and the lowest his target has been since April 2013, from $450. Setyan said the recent pullback in the stock is no reason in itself to own them, as unit economics may not rebound even if sales do. But he believes the “best-case” scenario is for sales to recover in 2018. “We model a gradual rebound in traffic through 2016, with upped near-term marketing the lone driver to point to (though the ability to sustain transactions absent couponing remains to be seen),” Setyan wrote in a note to clients. The stock has tumbled 28% over the past year, as E. coli and norovirus outbreaks from Chipotle’s restaurants weighed on sales and consumer sentiment, while the S&P 500 has lost 1.2% over the same time.

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

3M Co. affirmed on Tuesday its full-year 2016 earnings-per-share outlook of $8.10 to $8.45, which surrounds the FactSet consensus of $8.22. At a meeting with analysts and investors Tuesday, Chief Executive Inge Thulin will also introduce five-year growth targets, including 8% to 11% for earnings per share and 2% to 5% for local-currency sales. The company, whose brands include Scotch tape and Post-it notes, expects return on invested capital to grow 20% in five years and 100% free cash flow conversion. “These objectives reflect our confidence in driving efficient growth–that is, strong, sustainable growth and premium returns–well into the future,” Inge said. The stock, which was still inactive in premarket trade, has run up 10% year to date, while the Dow Jones Industrial Average has gained 0.6%.

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 Falkland Islands lie in waters belonging to Argentina, a United Nations commission has ruled, dealing a blow to the U.K.’s claims in the region. Argentina and the U.K. have been in a long-running dispute over which country rightfully controls the territory in the South Atlantic Ocean, dating back before the war they fought in 1982. The U.N. Commission on the Limits of the Continental Shelf this month backed a report from the Argentinian foreign ministry, media reports said Tuesday. That increased the scope of Argentian waters by 0.66 million square miles (1.7 million square kilometers), which would include the islands. The Falkland Islands government is looking for clarifiation from the British government on what the ruling means for the territory, the Associated Press reported.

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

An EgyptAir plane has been hijacked after taking off from Alexandria, Egypt, and landed at Lanarca airport in Cyprus Tuesday morning, media reports said. At least one armed hijacker took control of the domestic flight to Cairo, reports said. The number of passengers and crew on board has not been confirmed: early reports put the total at 81, but others put it at 55. No requests have been received from the hijackers of the Airbus 320, The Wall Street Journal reported.

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