Tag: stock market

Tesla Motors Inc. shares seesawed in late-trading Tuesday after the electric-car maker reported a surprise loss in the fourth quarter and lower-than-expected revenue for the quarter. The company maintained it is on track to become profitable, on an adjusted basis, this year, and said that beginning in March it expects to become net cash flow positive. Tesla said it lost $114 million in the quarter, or 87 cents a share, adjusted for one-time items. That compares with an adjusted loss of $16.2 million, or 13 cents a share, in the fourth quarter of 2014. Revenue reached $1.75 billion in the quarter, up 59% from $1.1 billion in the year-ago period. Analysts polled by FactSet had expected Tesla to report earnings of 16 cents a share on sales of $1.85 billion in the quarter.

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Mylan N.V. announced Wednesday a deal to buy Swedish specialty pharmaceutical company Meda Aktiebolag in a cash and stock deal valued at the U.S. dollar equivalent of $7.2 billion, or $9.9 billion including debt. Mylan expects the deal to add to earnings immediately after it is completed, with an opportunity to increase earnings per share by 35 cents to 40 cents in 2017. Mylan expects synergies of about $350 million, to be achieved in the fourth year following completion, which is expected to be in the third quarter of 2016. “Our acquisition of Meda will allow us to accelerate and deliver on the clear and compelling vision and strategy we have continuously communicated to our shareholders, and once again deliver a transaction that will create significant value,” said Mylan Chief Executive Robert Coury. “We structured this transaction in a way that optimizes our balance sheet and still leaves us ample financial flexibility to continue to complement our business with additional attractive opportunities.” Separately, Mylan reported full-year 2015 adjusted earnings per share and revenue that fell short of FactSet consensus estimates. The stock slumped 7% in after-hours trade.

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The average American who opts to spend on Valentine’s Day purchases will part with $191.80 on gifts, activities and other items, according to the International Council of Shopping Centers. Spending will reach $29 billion. Of those celebrating Valentine’s Day, technology will be the largest expenditure with an average spend of $215.50. Jewelry is second with $191.00. Nearly a quarter, 22%, say they’ll spend more than last year while 54% said they’ll spend about the same. Millennials will spend $218.60, more than Gen X ($186.40) and Baby Boomers ($70.50). The ICSC polled 1.022 adults for this survey.

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Carly Fiorina is dropping out of the presidential race, she said Wednesday on Twitter. Fiorina, the former chief executive of Hewlett-Packard, came in seventh in Tuesday’s New Hampshire primary. Polls have consistently placed her at the back of the Republican field.

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Oil futures settled below $28 a barrel on Wednesday as recent industry reports raised further worries about the outlook for crude demand and an ongoing surplus of supplies. Prices managed to get only a brief boost in the immediate wake of data showing a surprise decline in weekly U.S. crude inventories. March West Texas Intermediate crude finished at $27.45 a barrel on the New York Mercantile Exchange, down 49 cents, or 1.8%. Based on the front-month contracts, prices settled at their lowest level since Jan. 20.

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The National Retail Federation expects retail sales, excluding automobile, gas station and restaurant sales, to grow 3.1% in 2016. “Wage stagnation is easing, jobs are being created and consumer confidence remains steady, so despite the headwinds our economy faces from international developments – particularly in China – we think 2016 will be favorable for growth in the retail industry,” said Matthew Shay, chief executive of the NRF, according to a statement published Wednesday. The trade association also forecasts economic growth in the range of 1.9% to 2.4% in 2016. And the NRF sees employment gains of about 190,000 on an average monthly basis, with the unemployment rate dropping to 4.6% by year-end. The unemployment rate currently stands at 4.9%.

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The dollar trimmed its gains against the euro and weakened further against the yen Wednesday after Federal Reserve Chairwoman Janet Yellen took questions from the House Financial Services committee. Yellen largely hewed to the cautious outlook from her prepared remarks during the question and answer session. She acknowledged the deterioration in market conditions, but didn’t back away from the possibility of raising interest rates in the near future. The dollar’s decline suggests that investors have interpreted her remarks as slightly dovish — meaning they expect the Fed will leave interest rates lower for longer, said Matt Weller, senior technical analyst at Forex.com. The euro traded at $1.1205, compared with $1.1289 late Tuesday in New York. The dollar traded at 114.33 yen, compared with 114.95 yen.

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Oil futures turned higher Wednesday after the U.S. Energy Information Administration reported a surprise decline in weekly supplies of crude oil. Crude inventories fell by 800,000 barrels for the week ended Feb. 5. The American Petroleum Institute on Tuesday reported a 2.4 million-barrel increase, according to sources. Analysts polled by Platts expected a rise of 3.2 million. Gasoline and distillate supplies each climbed by 1.3 million barrels, the EIA said. March crude was at $28.58 a barrel on the New York Mercantile Exchange, up 64 cents, or 2.3%. Prices traded at $28.09 before the data.

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Twitter Inc.’s stock is surging 5.5% in morning trade Wednesday, but options traders are prepping for a much bigger move this week after the social media company reports fourth-quarter results after the closing bell. An stock option strategy known as a “straddle,” which is a pure volatility play that involves the simultaneous buying of bullish and bear options at current prices, is implying a price move of about 18% through Friday, in either direction. At current prices, that would mean the buyer of the straddle wouldn’t start making money unless the stock closes Friday above about $17.70, or below $12.30. The average one-day, post-results move in the stock, since Twitter went public in November 2013, has been 13%, and the median move has been 12%. Prior to Thursday’s bounce, the stock had closed at record lows the past three sessions. It has tumbled 44% over the past three months, while the S&P 500 has lost 9.6%.

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From:: Stock Market News

Twitter Inc.’s stock is surging 5.5% in morning trade Wednesday, but options traders are prepping for a much bigger move this week after the social media company reports fourth-quarter results after the closing bell. An stock option strategy known as a “straddle,” which is a pure volatility play that involves the simultaneous buying of bullish and bear options at current prices, is implying a price move of about 18% through Friday, in either direction. At current prices, that would mean the buyer of the straddle wouldn’t start making money unless the stock closes Friday above about $17.70, or below $12.30. The average one-day, post-results move in the stock, since Twitter went public in November 2013, has been 13%, and the median move has been 12%. Prior to Thursday’s bounce, the stock had closed at record lows the past three sessions. It has tumbled 44% over the past three months, while the S&P 500 has lost 9.6%.

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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