Tag: stock market

Fidel Castro’s eldest son committed suicide Thursday in Havana, Cuban state media reported. Fidel Castro Díaz-Balart, 68, reportedly suffered from depression. Castro Díaz-Balart trained as a nuclear engineer in the Soviet Union, once served as head of Cuba’s nuclear program, and was most recently scientific adviser to the Cuban Council of State. His father, Fidel Castro, ruled Cuba from 1959 until 2008, and died in 2016 at the age of 90.

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Guess Inc. shares sank almost 18% in Thursday trading after model Kate Upton tweeted allegations of harassment against the company’s co-founder, Paul Marciano. In a tweet posted late Wednesday, Upton wrote, “It’s disappointing that such an iconic women’s brand @Guess is still empowering Paul Marciano as their creative director #metoo.” When TMZ questioned Upton further at Los Angeles International Airport, she said she was “excited to tell [her] whole story,” but didn’t elaborate further. Upton has modeled for the brand since 2011, according to New York magazine’s The Cut blog. “Mr. Marciano denies any misconduct toward Ms. Upton,” Guess said in a regulatory filing Thursday afternoon. “The company will fully investigate her claims once they are known to determine if they have any merit.” Guess shares are up 31.8% for the last year while the S&P 500 index is up nearly 24% for the past 12 months.

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CVS Health Corp. and Aetna Inc. said they each received Thursday a request for additional information from the Justice Department in connection with the department’s review of their potential $69 billion merger. The companies still expect the deal will close in the second half of the year. “Aetna and CVS Health have been cooperating with the DOJ staff since shortly after the announcement of the Merger Agreement and are continuing to cooperate with the DOJ staff in its review of the transactions contemplated by the Merger Agreement,” the companies said in the filing. The deal, announced in December, is subject to shareholder and other approvals. Shares of CVS rose 0.3% and shares of Aetna gained less than 0.1% in late trading Thursday after ending the regular trading session up 0.1% and 0.3%.

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CBS Corp. and Viacom Inc. said on Thursday that they have each set up special committees to evaluate a potential recombination. Shares of Viacom were down 1.5% after hours, while CBS shares were down less than 1%. “There can be no assurances that this process will result in a transaction or on what terms any transaction may occur. Neither CBS nor the committee intends to comment further, until the process is completed,” the company said in a news release. Viacom released an identical statement shortly after, save for the name of the company. The move comes as Shari Redstone, vice-chair of both CBS and Viacom, has pushed for the two companies to merge. The Wall Street Journal reported in January that Redstone wanted new members on the CBS board to spark new merger talks with Viacom. Shares of Viacom are down more than 20% in the last 12 months and CBS shares are down nearly 9%. By comparison the S&P 500 index is up roughly 24% and the Dow Jones Industrial Average is up more than 31%.

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Athenahealth Inc. shares rallied in the extended session Thursday after the medical records and hospital services company topped Wall Street forecasts. Athenahealth shares surged 16% to $145 after hours. The company reported fourth-quarter net income of $31.6 million, or 78 cents a share, compared with $9.8 million, or 24 cents a share, in the year-ago period. Adjusted earnings were $1.11 a share. Revenue rose to $329.2 million from $288.2 million in the year-ago period. Analysts surveyed by FactSet had estimated 63 cents a share on revenue of $320 million.

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Apple Inc. shares are down 0.9% in the aftermarket after the company delivered a lower-than-expected outlook for its March quarter but beat earnings and revenue estimates for its holiday quarter. Apple reported net income of $20.1 billion, up from $17.9 billion a year ago, as well as earnings per share of $3.89, up from $3.36 a year earlier. That exceeded FactSet consensus estimates calling for $19.7 billion and $3.85, respectively. The company’s revenue grew to $88.3 billion for the quarter from $78.6 billion and ahead of expectations for $87.5 billion. Apple sold 77.3 million iPhones during the period, down from 78.3 million in the prior holiday quarter. Revenue in the company’s China business grew 11%, to $18 billion. The company said it expected March-quarter revenue of between $60 billion to $62 billion, which came in below analysts’ expectations for $65.4 billion. “We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,” Apple CEO Tim Cook said in a release. “IPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.” Apple shares are up 30% over the past 12 months, while the Dow Jones Industrial Average , of which Apple is a component, has risen 32%.

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Deckers Outdoor Corp. shares jumped 7.7% in Thursday after-hours trading after the footwear and accessories company reported fiscal third-quarter earnings and sales that beat expectations. Comprehensive income totaled $90.9 million, or $2.69 per share, up from $26.6 million, or $1.27 per share, for the same period last year. Adjusted EPS was $4.97, exceeding the FactSet consensus $3.82. The company, whose brands include Ugg, Teva and Sanuk, said adjusted EPS was “largely effected” by recent tax reforms. Sales totaled $810.5 million, up from $760.3 million and ahead of the $748.0 million FactSet consensus. Deckers says it plans to repatriate $250.0 million by the end of fiscal 2018, a preliminary estimate that could be impacted by clarifications or changes to tax reforms or other factors. The company sees fourth-quarter sales in the range of $370.0 million to $375.0 million, and adjusted EPS in the range of 15 cents to 20 cents. The FactSet consensus is for sales of $377.4 million and earnings of 24 cents per share. Deckers shares are up 26.7% for the last three months, and up 53.5% for the last year. The S&P 500 index is up 9.4% for the past three months.

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Shares of Tableau Software Inc. rose nearly 16% in after-hours trade on Thursday after the company reported fourth-quarter earnings results that were better than Wall Street expected. Tableau reported a net loss of $41.84 million, or loss of 52 cents per share, compared with a loss of $21.09 million, or 28 cents loss per share during the same quarter a year ago. The company reported adjusted earnings of 12 cents per share, while FactSet’s consensus was 3 cents. Revenue for the quarter was $249.36 million, down slightly from $250.65 million a year ago, but above FactSet’s $241.0 million consensus. Tableau said that Chief Financial Officer Tom Walker will step down from his role effective immediately after more than 13 years. The board tapped Senior Vice President of Finance Damon Fletcher to serve as interim CFO until they find a permanent replacement. They will consider internal and external candidates. The board also appointed Gerri Martin-Flickinger, chief technology officer for Starbucks, as a new director. Shares of Tableau are up 59% in the last 12 months, while the S&P 500 index is up close to 24% and the Dow Jones Industrial Average is up more than 31%.

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​Shares of Visa Inc. fell in Thursday’s extended session despite better-than-expected quarterly results from the credit card company. Visa reported fiscal first-quarter net income of $2.52 billion, or $1.07 per Class A share, compared with $2.07 billion, or 86 cents per Class A share, a year earlier. On an adjusted basis, Visa would have earned $1.08 per Class A share. Net operating revenue rose to $4.86 billion from $4.46 billion. Analysts surveyed by FactSet had projected earnings of 98 cents a share on revenue of $4.82 billion. Visa credited strong growth in the U.S. on the back of holiday demand and e-commerce for its strong quarter. For fiscal 2018, the company reiterated its projection of net revenue growth in the “high single digits” percentage range and expects its bottom line to be driven by the tax cuts. Visa shares are off 0.8% after hours. The stock is up 10% year to date.

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Airbnb Inc. said Thursday that it is not going to list on the public markets in 2018, following the departure of its Chief Financial Officer Laurence Tosi. In a statement Airbnb Chief Executive Brian Chesky said, “We are not going public in 2018. Our primary focus is becoming a 21st-century company and advancing our mission. We’re working on getting ready to go public and we will make decisions about going public on our own timetable.” Chesky previously said in October that the company was half way through its two year process to prepare to go public, though that did not mean the company planned to do so once it was complete. Airbnb also said Thursday that it had elevated Belinda Johnson to the Chief Operating Officer position. Previously she served as chief business affairs and legal officer at Airbnb and currently sits on the PayPal Inc. board, according to her LinkedIn profile.

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