Tag: stock market

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.

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Foot Locker Inc. shares ticked higher in the extended session Monday after S&P Dow Jones Indices announced the sneaker retailer would be added to the S&P 500 Index . Foot Locker shares advanced 1.8% to $66.40 after hours. Foot Locker will replace Cameron International Corp. following the close April 1 after the energy company is acquired by Schlumberger Ltd.

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Schnitzer Steel Industries Inc. shares were halted in the extended session Monday just before the recycled metals products company forecast a larger-than-expected loss for the quarter. Schnitzer Steel shares were halted at $19.41 after hours and are expected to trade again at 5:55 p.m. Eastern. The company estimated an adjusted second-quarter loss of 25 cents to 27 cents a share on weaker export demand. Analysts surveyed by FactSet had forecast a loss of 11 cents a share.

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From:: Stock Market News

Schnitzer Steel Industries Inc. shares were halted in the extended session Monday just before the recycled metals products company forecast a larger-than-expected loss for the quarter. Schnitzer Steel shares were halted at $19.41 after hours and are expected to trade again at 5:55 p.m. Eastern. The company estimated an adjusted second-quarter loss of 25 cents to 27 cents a share on weaker export demand. Analysts surveyed by FactSet had forecast a loss of 11 cents a share.

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.

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Puma Biotechnology Inc. shares fell in the extended session Monday after the biotech said it would delay filing a marketing application for a cancer drug after the Food and Drug Administration asked for changes in how study data was analyzed. Puma shares dropped 17% to $29.37 after hours. The company said it plans to file a marketing application with the FDA in mid-2016 for its breast-cancer drug neratinib, later than the first-quarter filing date originally planned.

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Synnex Corp. shares fell in the extended session Monday after the business process services company’s outlook fell below Wall Street estimates. Synnex shares fell 6.9% to $90 after hours. The company sees adjusted second-quarter earnings of $1.27 to $1.33 a share on revenue of $3.25 billion to $3.35 billion. Analysts surveyed by FactSet had forecast earnings of $1.58 a share on revenue of $3.38 billion. Synnex reported adjusted first-quarter earnings of $1.37 a share on revenue of $3.13 billion. Analysts had expected $1.37 a share on revenue of $3.27 billion.

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U.S. stocks finished flat on Monday as gains in consumer-discretionary and materials shares were mitigated by weakness in utilities and energy. The S&P 500 gained 1.12 points, or 0.1%, to 2,037.05, with CSRA Inc. and Marriott International Inc. emerging as its two best performers. CSRA provides technology services to the U.S. government, while Marriott is engaged in a bidding war with Chinese firm Anbang Insurance Group for control of Starwood Hotels & Resorts Worldwide Inc. The Dow industrials rose 19.73 points, or 0.1%, to 17,535.53, led higher by General Electric Co. and 3M Co. . Meanwhile, tech shares weighed on the Nasdaq Composite , which shed 6.72 points, or 0.1%, to 4,766.79. Investors now turn their attention to a speech from Federal Reserve Chairwoman Janet Yellen expected Tuesday at 11:30 a.m. Eastern.

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Affymetrix Inc.’s stock slumped 5.2% in active afternoon trade Monday, after the biotechnology company said it determined that the buyout bid it received last week from Origin Technologies Corp. was not superior to the deal it made with Thermo Fisher Scientific Inc. . The company said continues to recommend the shareholders vote for the proposed merger with Thermo Fisher. The stock had surged 5.2% on March 23, after Affymetrix said Origin’s bid would likely be seen as a superior proposal. “While the Board found the $3.00 per share premium offered in the Origin Proposal, taken by itself, to be attractive, after engaging with Origin, the Board found the risks to initiating and consummating a potential transaction with Origin outweighed the potential benefit of a higher offer from Origin,” Affymetrix said in a statement. The stock was still up 40% year to date, while the S&P 500 had lost 0.2%.

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Shares of airline Virgin America Inc. surged almost 10% in afternoon trade Monday, after a Bloomberg report that the company has received takeover bids from JetBlue Airways Corp. and Alaska Air Group Inc. . Virgin America, which is backed by billionaire Richard Branson, got the bids after putting itself up for sale, Bloomberg reported, citing people familiar with the matter. Talks are ongoing and a deal could be announced as soon as early next week, the people said. Virgin shares have gained 4% in the year so far, outperforming the S&P 500, which is down 0.4%.

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SunEdison Inc.’s stock soared 14% in active morning trade Monday, to bounce of Thursday’s 15-year closing low, after the renewable energy said it would temporarily suspend stock contributions to the retirement saving plans of its directors and executives. The “blackout period” would last until the company is up to date with the required financial filings with the Securities and Exchange Commission, the company said in a regulatory filing late Thursday. The stock closed Thursday at $1.21, the lowest close since September 2001, amid increasing concerns over liquidity and accounting problems. The stock has plunged 73% year to date, while the S&P 500 has slipped 0.4%.

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