Tag: stock market

Tribune Publishing Co. reported a 2015 fourth-quarter preliminary loss of $77,000, compared with net income of $15.5 million in the year-earlier period. The company reported earnings per share for the quarter were break-even, compared to 60 cents a share last year. Tribune Co. slit its publishing business and TV and entertainment arm, Tribune Media in August 2014. Excluding pre-tax charges, restructuring costs and other items, per-share earnings were $1.34 for the quarter, above the FactSet consensus of 93 cents a share. Revenue for the quarter grew 1% to $462 million, compared with $457 million during the same period a year ago. The FactSet consensus for revenue was $484 million Advertising revenue declined nearly 2%, while revenue from circulation grew 10% in the quarter. Tribune Publishing expects continued pressure on advertising and circulation revenue trends going into 2016.

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From:: Stock Market News

Weatherford International Ltd.’s stock dropped 4.7% in very active premarket trade Wednesday, after the oil services company’s large public offering of new shares priced well below current prices. Volume about an hour ahead of the open was already 33.7 million shares, or about double the full-day average over the past 30 days, according to FactSet. The company said late Tuesday that it sold 100 million shares at $5.65 each, which was 8.7% below Tuesday’s closing price of $6.19. Including the option granted to underwriters to buy up to an additional 15 million shares, the share sale would represent 15% of the current number of total shares outstanding, according to FactSet data. Analyst Marc Bianchi at Cowen & Co. wrote in a note to clients that that while the offering raises questions about bankers’ confidence in Weatherford’s free cash flow generation, the offering “shores up the balance sheet and removes and overhang on the stock.” The stock has tumbled 26% year to date through Tuesday, while the S&P 500 has slipped 3.2%.

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CSX Corp. shares jumped in the extended session Tuesday following a report that the railroad operator had been approached by Canadian Pacific Railway Ltd. for a takeover offer. CSX shares surged 4.7% to $25.80 after hours. CSX rebuffed the offer but Canadian Pacific would consider trying again, according to Dow Jones Newswires. Separately, Pershing Square Capital Management, the hedge fund helmed by Bill Ackman, reported that it acquired a 9.1% stake in Canadian Pacific, according to a Securities and Exchange Commission filing late Tuesday.

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From:: Stock Market News

Guidewire Software Inc. shares jumped in the extended session Tuesday after the insurance-industry software provider topped Wall Street estimates for the quarter. Guidewire shares rose 8% to $54.55 after hours. The company reported adjusted fiscal second-quarter earnings of 24 cents a share on revenue of $102.1 million. Analysts surveyed by FactSet had forecast earnings of 15 cents a share on revenue of $96.7 million. For the fiscal third quarter, Guidewire expects adjusted earnings of 4 cents to 8 cents a share on revenue of $90.3 million to $94.3 million. Analysts estimate 6 cents a share on revenue of $91.2 million.

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From:: Stock Market News

The American Petroleum Institute late Tuesday reported that crude supplies climbed by 9.9 million barrels for the week ended Feb. 26, according to sources who reviewed the report. The Energy Information Administration will release its own data Wednesday. Analysts polled by Platts forecast a climb of 2.5 million barrels. April crude traded at $33.83 a barrel in electronic trading, down from the contract’s settlement of $34.40 on the New York Mercantile Exchange.

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From:: Stock Market News

The American Petroleum Institute late Tuesday reported that crude supplies climbed by 9.9 million barrels for the week ended Feb. 26, according to sources who reviewed the report. The Energy Information Administration will release its own data Wednesday. Analysts polled by Platts forecast a climb of 2.5 million barrels. April crude traded at $33.83 a barrel in electronic trading, down from the contract’s settlement of $34.40 on the New York Mercantile Exchange.

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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From:: Stock Market News

The American Petroleum Institute late Tuesday reported that crude supplies climbed by 9.9 million barrels for the week ended Feb. 26, according to sources who reviewed the report. The Energy Information Administration will release its own data Wednesday. Analysts polled by Platts forecast a climb of 2.5 million barrels. April crude traded at $33.83 a barrel in electronic trading, down from the contract’s settlement of $34.40 on the New York Mercantile Exchange.

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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Starbucks Corp.’s former chief operating officer Troy Alstead has resigned from the company, effective immediately, the coffee retailer said Tuesday. Alstead had been on a sabbatical since March 1, 2015 and had informed the company earlier this month that he would not be returning, according to a regulatory filing. Shares of Starbucks were mostly flat in after-hours trading after gaining 3.1% in the regular session.

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From:: Stock Market News

TiVo Inc. late Tuesday reported fourth-quarter earnings ​of ​$199,000, compared with $7.1 million a year ago. The latest quarterly results included $12.8 million in chief executive transition costs and $7.7 million in related tax benefits. On a per-share basis, the San Jose, Calif.-based company broke even versus a profit of 7 cents a share in the year-earlier period. Net revenue rose to $123.1 million from $114.1 million while its services and technology revenue, a closely monitored metric that excludes hardware sales, increased 11% to $101.7 million. Analysts surveyed by FactSet had forecast a loss of 6 cents a share on revenue of $125 million. TiVo shares rose 0.6% in after-hours trading.

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From:: Stock Market News

Talk about in like a lion. Wall Street enjoyed sharp gains Tuesday, led by a rally in bank stocks and oil’s surge. But for the S&P 500 index . the benchmark’s 2.4%, or 46 point, gain to 1,978.35, marked its best start to March ever, according to Dow Jones data. For the Dow Jones Industrial Average, Tuesday’s 2.1% spike was its best start to March since 2002, Dow Jones data show. Now, the only question is will stocks roar like a lion to open the month only to leave like a lamb, which would be a bad thing for stock-market bulls.

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From:: Stock Market News