Tag: stock market

Panera Bread Co. shares rose in the extended session Tuesday after the restaurant-bakery chain topped Wall Street earnings estimates for the quarter. Panera shares rose 3.7% to $191.50. The company reported adjusted fourth-quarter earnings of $1.88 a share on revenue of $691.8 million. Analysts surveyed by FactSet had forecast earnings of $1.78 a share on revenue of $695.7 million.

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.

…read more

From:: Stock Market News

Walt Disney Co. late Tuesday said it posted its biggest quarterly earnings ever in the first quarter on the global success of ‘Star Wars: The Force Awakens.” The company reported its earnings jumped to $2.88 billion, or $1.73 a share, from $2.18 billion, or $1.27 a share, in the same quarter last year. Excluding items, the company would have earned $1.63 a share. Revenue grew 14% to $15.24 billion. Analysts surveyed by FactSet had forecast adjusted earnings of $1.45 a share on revenue of $14.79 billion. Its studio entertainment business led the surge in operating income while media networks saw its operating income drop 6%. Despite the robust results, shares of Disney fell 1.9% in after-hours trade.

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.

…read more

From:: Stock Market News

SolarCity Corp. shares tanked 25% late Tuesday as the residential solar installer reported a narrower-than-expected per-share loss but fell short of its 2015 installation goals and predicted a slower-than-expected first quarter. SolarCity swung to an adjusted loss of $232 million in the fourth quarter, or $2.37 a share, compared with an adjusted per-share loss $1.47 in the year-ago period. Revenue reached $115 million in the quarter, up from $72 million a year ago. Analysts polled by FactSet had expected the company to report an adjusted loss of $2.58 a share on sales of $104.5 million in the quarter. The company ended the year installing 870 megawatts of solar power, whereas it had expected to install at least 878 MW for the year as it missed commercial installation goals. It called for 180 MW of solar power installed in the current quarter, a “higher-than-usual” seasonal slowdown due to its decision to close down Nevada operations and a renewed focus on longer lead-time commercial projects, the company said in a statement. SolarCity and other residential solar installers pulled out of Nevada as utility regulators there imposed new rules that made solar less attractive in the state. The stock ended the regular trading session down 5.7%.

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.

…read more

From:: Stock Market News

SolarCity Corp. shares tanked 25% late Tuesday as the residential solar installer reported a narrower-than-expected per-share loss but fell short of its 2015 installation goals and predicted a slower-than-expected first quarter. SolarCity swung to an adjusted loss of $232 million in the fourth quarter, or $2.37 a share, compared with an adjusted per-share loss $1.47 in the year-ago period. Revenue reached $115 million in the quarter, up from $72 million a year ago. Analysts polled by FactSet had expected the company to report an adjusted loss of $2.58 a share on sales of $104.5 million in the quarter. The company ended the year installing 870 megawatts of solar power, whereas it had expected to install at least 878 MW for the year as it missed commercial installation goals. It called for 180 MW of solar power installed in the current quarter, a “higher-than-usual” seasonal slowdown due to its decision to close down Nevada operations and a renewed focus on longer lead-time commercial projects, the company said in a statement. SolarCity and other residential solar installers pulled out of Nevada as utility regulators there imposed new rules that made solar less attractive in the state. The stock ended the regular trading session down 5.7%.

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.

…read more

From:: Stock Market News

Anadarko Petroleum Corp. said Tuesday it slashed its quarterly dividend to 5 cents a share from 27 cents. The new dividend will be payable on March 23 to shareholders of record on March 9. The stock was down 4.3% at $38.31 prior to a trading halt. At that price, the oil company’s new annual dividend implies a dividend yield of 0.52%, compared with the aggregate S&P 500 dividend yield of 2.39%, according to FactSet. The dividend yield prior to the cut was 2.8%. “We believe this adjustment to our dividend is the appropriate action to take in the current environment,” said Chief Executive Al Walker. “On an annualized basis, this action provides approximately $450 million of additional cash available to enhance our operations and financial flexibility.” Prior to the halt, the stock had plunged 44% over the past three months, while the S&P 500 had lost 11%.

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.

…read more

From:: Stock Market News

Libbey Inc. said it raised its quarterly dividend by about 5% to 11.5 cents a share from 11 cents a share. The glass tableware maker said the new dividend will be payable March 15 to shareholders of record on March 1. Based on current stock prices, the new annual dividend implies as an annual dividend yield of 2.9%, compared with the aggregate S&P 500 dividend yield of 2.39%, according to FactSet. The stock, which edged up 0.1% in afternoon trade, has tumbled 37% over the past three months while the S&P 500 has lost 11%.

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.

…read more

From:: Stock Market News

L-3 Communications said Tuesday it is raising its quarterly dividend to 70 cents a share from 65 cents. The new payout will be made March 15 to shareholders of record as of March 1. Shares rose 0.7% in afternoon trade, but are down 7.5% in the last 12 months, while the S&P 500 has lost about 9%.

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.

…read more

From:: Stock Market News

The U.S. Energy Information Administration cut its 2016 forecasts for West Texas Intermediate and Brent crude prices in a monthly report issued Tuesday. The government agency said it expects WTI prices to average $37.59 a barrel this year. It previously forecast a 2016 average of $38.54. The EIA also said it expects Brent crude to average $37.52 a barrel this year, compared with a previous forecast for $40.15. The government agency also reduced its 2016 U.S. oil output forecast to 8.69 million barrels from 8.73 million barrels. March WTI oil traded at $28.98 a barrel, down 70 cents, or 2.4%, on the New York Mercantile Exchange. Brent crude on ICE Futures lost $1.38, or 4.2%, to $31.48 a barrel.

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.

…read more

From:: Stock Market News

WASHINGTON (MarketWatch) — For the second year, the White House is proposing a tax on the biggest financial institutions. The White House, in its budget proposal released Tuesday, said it would raise $111 billion over 10 years by imposing a seven-basis point fee on the liabilities of largest U.S. firms, which have assets over $50 billion. The proposal faces little chance of being enacted in the Republican-controlled Congress.

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.

…read more

From:: Stock Market News

Shares of Tesla Motors Inc. fell 4% Tuesday on the heels of another price-target reduction and a day after its worst stumble in more than a year. Earlier Tuesday, analyst Brian Johnson at Barclays cut his price target on Tesla stock to $165 from $180, saying “expectations on fundamentals need to come in check” and reiterating his underweight rating on the electric car maker. Tesla is scheduled to report fourth-quarter results on Wednesday. Other analysts have turned more cautious on Tesla, citing concerns about demand for its vehicles and potential production ahead of the launching of the Model 3, Tesla’s mass-market car. Short interest, or bearish bets, on Tesla’s stock has increased more than 20% over the last six months to an 11-month high. Tesla shares have plunged 40% so far this year, while the S&P 500 has lost 10%.

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.

…read more

From:: Stock Market News