Tag: stock market

KLR Energy Acquisition Corp. , a special purpose acquisition entity to acquire oil and gas assets, priced its initial public offering at $10 a share Thursday. The company is offering 8 million shares to raise up to $80,000,000. The company had previously said it would offer 13 million shares to raise $130 million. The stock is expected to trade Friday on the Nasdaq under the symbol “KLREU.”EarlyBird Capital is the sole underwriter of the offering.

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From:: Stock Market News

U.S. stocks opened higher Friday as the International Energy Agency declared a bottom in oil prices, sending crude futures higher and lifting sentiment. Investors were continuing to asses the effect on U.S. equities of the European Central Bank’s stimulus measures announced Thursday. The S&P 500 opened 12 points, or 0.6%, higher at 2,002. The Dow Jones Industrial Average added 110 points, or 0.6%, to 17,101. Meanwhile, the Nasdaq Composite began the day up 45 points, or 1% at 4,706.

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The People’s Bank of China set its daily yuan reference rate at 6.4905 versus 6.5127 on Thursday, a 0.3% appreciation and the strongest fixing since Dec. 30, according to a Dow Jones Newswires report. The move shook up currencies trading, with the dollar recently trading 0.2% lower at 6.4982 yuan after falling as low as 6.4862. “The fix has come in largely as expected but the market has got a little bit excited,” said Sue Trinh, an RBC Capital Markets strategist, told Dow Jones Newswires. “It’s reacted by selling USD across the board.”

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U.S. stock futures pointed to sharp gains for Wall Street on Friday, as oil prices pushed higher and Asian markets rose. Dow Jones Industrial Average futures jumped 133 points, or 0.8%, to 17,033, while S&P 500 futures gained 17.25 points, or 0.9%. to 1,997. Nasdaq 100 futures rose 47.50 points, or 1.1%, to 4,323.25. U.S. stocks closed little changed in volatile trading Thursday as investors brushed off fresh easing from the European Central Bank. But Asia stocks were broadly higher on Friday and crude oil rebounded, with U.S. crude up 85 cents, or 2.2%, to $38.69 a barrel. The dollar was pushing higher against the yen, trading at ¥113.56, rebounding from a one-week low of ¥112.64 late Thursday.

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Ben Carson will endorse Donald Trump for the Republican presidential nomination, reports said Thursday. The Washington Post and others said Carson will make his support formal on Friday morning at a news conference in Florida. Carson, a retired neurosurgeon, suspended his own campaign for the Republican nomination last week.

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WASHINGTON (MarketWatch) — Bulgarian authorities have arrested a Bulgarian man on charges of market manipulation in U.S. stocks including Avon Products. Nedko Nedev was charged with insider trading on an offer by a Bulgarian firm, Euroins Insurance, for Tower Group International, and for making sham offers for Rocky Mountain Chocolate Factory and Avon Products . The U.S. said it will seek extradition of Nedev. The Securities and Exchange Commissionhad previously laid out charges against Nedev.

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Corvus Pharmaceuticals said late Thursday it expects to price its initial public offering between $15 and $17 a share in a filing with the Securities and Exchange Commission. Corvus expect to offer 4.7 million shares, with about 705,000 additional shares to cover overallotments, in an IPO that could fetch up to $92 million. The company said it will trade on the Nasdaq under the ticker “CRVS”.

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Colgate-Palmolive Co. late Thursday said its board approved raising the company’s dividend to 39 cents a share from 38 cents a share starting in the second quarter. The dividend will be paid on May 16 to shareholders of record as of April 22. This boosts the full-year dividend to $1.56 from $1.52.

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Ulta Salon Cosmetics & Fragrance Inc. shares rallied in the extended session Thursday after the cosmetics retailer’s quarterly results and outlook topped Wall Street expectations. Ulta shares jumped 11% to $181.30 after hours. The company reported fourth-quarter earnings of $1.69 on revenue of $1.27 billion. Analysts surveyed by FactSet had forecast $1.54 a share on revenue of $1.23 billion. For the first quarter, Ulta expects earnings of $1.25 to $1.30 a share on revenue of $1.02 billion to $1.03 billion. Analysts estimate earnings of $1.23 a share on revenue of $1.01 billion. Additionally, Ulta announced a new $425 million share buyback plan, with plans to enter a $200 million “accelerated” buyback agreement with Goldman Sachs.

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Shares of chicken-and-biscuit restaurant chain Bojangles’ Inc. rose 7% late Thursday after the company reported results slightly above expectations. Bojangles’ said Thursday its pro-forma net income rose 7% to $8.2 million, or 22 cents a share, in the fourth quarter, from $7.7 million, or 21 cents a share, in the year-ago period. Total revenue reached $128.8 million in the quarter, up nearly 10% from $117.4 million a year ago. Analysts polled by FactSet had expected the company to report adjusted earnings of 19 cents a share on sales of $128.5 million. Same-restaurant sales rose 0.6%, Bojangles’ said. The FactSet analysts had predicted an increase of 1.4%, from 7% in the year-ago period. Bojangles’ also announced plans to grow by about 8% in net unit count this year, through development in adjacent areas within its core market in the Southeast, the company said in a statement. The company predicted 2016 revenue to reach $533 million to $543 million, and the opening of 60 to 65 new restaurants this year.

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