Tag: stock market

There are now more than 260,000 robots working in U.S. factories. Orders and shipments for robots in North America set new records in 2015, according to industry trade group Robotic Industries Association. A total of 31,464 robots, valued at a combined $1.8 billion, were ordered from North American companies last year, marking a 14% increase in units and an 11% increase in value year-over-year. Shipments rose 10% over 2014 to 28,049 units. The biggest increase in robot orders came from buyers in the automotive, semiconductor and electronics industries, according to the trade group. The most popular jobs for these robots were industrial, including coating and dispensing, material handling and spot welding.

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From:: Stock Market News

U.S. stocks opened slightly higher Wednesday as investors took in a cautious statement on the U.S. economy by Federal Reserve Chairwoman Janet Yellen that fell largely within expectations. In her statement released ahead of her testimony on Capitol Hill, Yellen did not back away from expectations for additional, gradual, interest-rate hikes. The S&P 500 opened 10 points, or 0.5%, higher at 1,861. The Dow Jones Industrial Average was up 40 points, or 0.2%, at 16,049 shortly after the open. Meanwhile, the Nasdaq Composite began the day up 45 points, or 1%, at 4,313.

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Fitbit shares rose 3.5% in pre-market trade Wednesday after Salesforce Chief Executive Officer Marc Benioff reported a 5.3% stake in the company. Benioff owns 5,311,824 shares in Fitbit , according to a filing. Shares of the stock have fallen 33% in one month, compared to the S&P 500’s decline of 4%.

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US Foods Holding Corp., a food distribution company, announced plans to go public Wednesday. In its prospectus, the company reported $23 billion in sales for the 12-month period ended Sept. 26. The filing comes after a failed attempt to be acquired by Sysco Corporation . US Foods Holding Corp said it planned to raise $100 million in the prospectus, but the number is likely a placeholder. The company plans to list on the New York stock exchange with the symbol “USFD.”

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Humana Inc. reported Wednesday fourth-quarter earnings of $101 million, or 67 cents per share, compared with $145 million, or 94 cents a share, in the same period a year ago. Adjusted EPS was $1.45, matching the FactSet consensus of $1.45. Revenue rose to $13.36 billion from $12.33 billion, but below the FactSet consensus of $13.46 billion. For 2016, the company expects adjusted EPS of $8.85, compared with the FactSet consensus of $8.70. The stock was not yet active in pre-market trade but had lost 9.6% over the last three months, while the S&P 500 dropped 11%.

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Time Warner Inc.’s stock climbed 1.3% in premarket trade Wednesday, as the media company’s better-than-expected fourth-quarter profit, a raised dividend and a new stock buyback program helped offset a revenue miss. Earnings for the latest quarter rose to $857 million, or $1.06 a share, from $718 million, or 84 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share of $1.06 was above the FactSet consensus of $1.01. Revenue fell to $7.08 billion from $7.53 billion, missing the FactSet consensus of $7.54 billion. Revenue from its Turner and HBO units rose mostly in line with expectations, but Warner Bros. revenue fell more than expected, due primarily to lower theatrical revenue. The company said it raised its quarterly dividend by 15% to 40.25 a share, and authorized a new $5 billion share repurchase program. The stock has declined 9.4% over the past three months through Tuesday, while the S&P 500 has dropped 11%.

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The U.S. Supreme Court said it will halt enforcement of climate change measures proposed by President Barack Obama until legal issues are resolved, The Associated Press reported late Tuesday. In January, Obama proposed new rules meant to cut methane emissions from the oil and gas industry by up to 45%, adding to Environmental Protection Agency rules meant to cut down on carbon emissions from power plants. Appelate arguments are scheduled to begin June 2, according to the AP.

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Four regional banks had their ratings cut by Standard & Poor’s late Tuesday on their exposure to loans in the energy sector amid falling oil prices. S&P lowered ratings by one notch on BOK Financial Corp. to “BBB+”, Comerica Inc. to “BBB+”, Cullen/Frost Bankers Inc. to “A-“, and Texas Capital Bancshares Inc. to “BB+”. “We are in the early innings of the downturn, in our view, and we expect loan losses to rise over the next two years, even if energy prices rebound modestly from current levels,” S&P said in a release.

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US Foods Holdings Corp., one of the largest private companies in the U.S. with annual revenue of more than $20 billion, registered with the Securities and Exchange Commission for an initial public offering on Tuesday. The dollar amount and the number of shares have yet to be decided, but US Foods will list on the New York Stock Exchange under the symbol USFD. The company reported a loss of $72.9 million, or 16 cents a share, on revenue of $23 billion in 2014. US Foods said it is the second largest food service distributor in the country with a market share of 9% as of 2014.

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The American Petroleum Institute late Tuesday reported that crude supplies rose by 2.4 million barrels for the week ended Feb. 5, according to sources who reviewed the report. That was smaller than the climb of 3.2 million barrels expected by analysts polled by Platts. March crude was at $28.32 a barrel in electronic trading, up from the contract’s settlement of $27.94 on the New York Mercantile Exchange. The more closely-watched Energy Information Administration report is due Wednesday.

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