Tag: stock market

Norwegian Cruise Line Holdings Inc. was upgraded to neutral from sell at Goldman Sachs, citing solid leisure travel trends. The six-month price target was raised to $45 from $41. Goldman Sachs downgraded Norwegian Cruise Line to sell on Dec. 8, 2015, but reversed its decision after the company reported earnings on Tuesday. Norwegian Cruise Line shares opened about flat on Wednesday morning, and are down 2.6% for the past year. The S&P 500 is down 9.2% for the past 12 months.

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U.S. stocks opened lower on Wednesday, building on the previous session’s losses as a slump in oil continued to put pressure on equities. The S&P 500 opened 14 points, or 0.8%, lower at 1,906. The Dow Jones Industrial Average lost 95 points, or 0.6%, to 16,337 shortly after the open. Meanwhile, the Nasdaq Composite began the day down 50 points, or 1.1%, at 4,453.

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TJX Cos. shares are up 0.6% in premarket trading after the company announced fourth quarter earnings that beat estimates. The off-price retailer had net income of $666.5 million, or 99 cents per share, up from $648.2 million, or 93 cents per share, for the same period last year. The FactSet consensus was 94 cents. Sales for the quarter totaled $9 billion, up from $8.3 billion last year and beating the FactSet estimate of $8.7 billion. Same-store sales rose across all of the company’s brands, including T.J. Maxx (up 6%), HomeGoods (up 7%) and TJX Cananda (up 14%). The company increased its quarterly dividend by 24% to 26 cents per share. The company also said it would repurchase between $1.5 billion and $2 billion in stock during the fiscal year ending Jan. 28, 2017. TJX sees first quarter 2017 earnings per share between 68 cents and 70 cents, below the FactSet consensus of 74 cents owing to a 2% negative foreign exchange impact and a wage initiative that will have a negative impact of 3%. Company shares are up 8.2% for the past 12 months while the S&P 500 is down 9.2% for the same period.

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Global spending on robotics and related services is expected to reach $135 billion in 2019, up from $71 billion in 2015, according to the International Data Corporation. Spending is expected to grow at a compound annual growth rate of 17%, led by purchasing in discrete and processing manufacturing industries, and followed by the resource, healthcare and transportation industries. The Asia/Pacific region makes up more than 65% of robotics spending in the forecast, followed by the region encompassing Europe, the Middle East and Africa.

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From:: Stock Market News

Global spending on robotics and related services is expected to reach $135 billion in 2019, up from $71 billion in 2015, according to the International Data Corporation. Spending is expected to grow at a compound annual growth rate of 17%, led by purchasing in discrete and processing manufacturing industries, and followed by the resource, healthcare and transportation industries. The Asia/Pacific region makes up more than 65% of robotics spending in the forecast, followed by the region encompassing Europe, the Middle East and Africa.

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Power management company Eaton said Wednesday it is raising its quarterly dividend by 4% to 57 cents a share. The new payment will be made March 18 to shareholders of record as of March 7. Shares were not yet active in premarket trade, but are down 21% in the last 12 months, while the S&P 500 has lost 9%.

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Macy’s Inc. was downgraded to hold from buy at Stifel on concerns about the growing expenses tied to the retailer’s multiplatform investments. The price target is $48. Macy’s reported a disappointing holiday shopping season on Tuesday, though the company said that online business for the year experienced double-digit growth. “Omnichannel sales have grown rapidly but not without significant cost; the investment in the omnichannel venue and fulfillment capabilities and the cost of sales cannibalized from the bricks and mortar stores, deleverages those assets,” Stifel analysts wrote in a Wednesday note. Macy’s also said it is considering real estate deals, but analysts highlight the uncertain timing and gains on those potential ventures. “What is not reflected in the share price is the possibility of significant one-time gains from one or more real estate transactions, likely related to the flagship locations,” analysts wrote. Macy’s shares are down 1.4% in premarket trading, but up 21% for the year so far. The S&P 500 is down 6% for the year-to-date.

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Chesapake Energy Corp. shares tumbled 9% in premarket trade Wednesday, after the company’s fourth-quarter loss widened and it unveiled further capex cuts and asset sales. The company said it had a net loss of $2.23 billion, or $3.36 a share, in the quarter, after earnings of $586 million, or 81 cents a share, in the year-earlier period. Its adjusted loss per share came to 16 cents, a penny less than the 17 cents-per-share FactSet consensus. Revenue declined to $2.65 billion from $5.69 billion a year ago, and matched the FactSet consensus. The company said it is planning to slash capex by 57% in 2016 to $1.3 to $1.8 billion. It expects production to be down 0% to 5%, once adjusted for asset sales. The company is targeting further asset sales of $500 million to $1.0 billion in 2016. “In light of the challenging commodity price environment, our focus for 2016 is to improve our liquidity, further reduce our cost structure and address our near-term debt maturities to strengthen our balance sheet,” Chief Executive Doug Lawler said in a statement. Shares have fallen a stunning 89% in the last 12 months, while the S&P 500 has fallen 9%.

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Lowe’s Cos. on Wednesday reported a sharp drop in net profit for the fiscal fourth quarter, as earnings were hit by a big impairment charge. Profit fell to $11 million, or 1 cent a share, from $450 million or 46 cents a share, in the year-ago period. The retailer said the result includes a non-cash impairment charge of $530 million related to its exit of a joint venture in Australia. Excluding this impact, adjusted earnings per share rose to 59 cents, up 28% from 46 cents in the fourth quarter last year. Sales rose to $13.2 billion, up from $12.5 billion a year ago. Analysts surveyed by FactSet expected adjusted earnings of 59 cents a share on sales of $13.1 billion. Shares were down 2.1% in premarket trade.

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A series of tornadoes swept through southern Louisiana and Mississippi on Tuesday night, leaving at least three people dead. At least seven tornadoes hit the area, including one that devastated a mobile home park about 60 miles west of New Orleans, injuring dozens and killing two, according to Reuters. Another person was reported killed near Purvis, Mississippi, the Associated Press reported. The fierce storms were expected to last through the night, and severe weather warnings were in effect in nearby Georgia and Florida.

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