Tag: stock market

Two passenger trains have crashed head-on in Germany, leaving several dead and hundreds injured, media reports said. One train was derailed in the early-morning collision Tuesday near Bad Aibling, a town about 40 miles south east of Munich in Bavaria, with many carriages overturned, the reports said. At least eight people have been killed, according to a police spokesman cited by British newspaper The Telegraph, but the number of deaths and casualties has not been confirmed. In a post to Twitter, local police said, “So far there are around 100 injured, including the seriously injured or even dead.”

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From:: Stock Market News

U.S. stock futures pared losses in early trading on Tuesday as oil prices rose. From a triple-digit loss, Dow Jones Industrial Average futures were last down 31 points to 15,959, while S&P 500 futures dropped 3 points to 1,848.75. Nasdaq 100 futures fell 1 point to 3,962.50. In Monday’s session, U.S. stocks trimmed steep losses, but still finished broadly lower with the S&P 500 finishing at its lowest level since April 2014, at 1,853.44. Oil prices rose 72 cents, or 2.5%, to $30.41 on Tuesday, lifted some as the U.S. dollar fell sharply against the yen. Investors were seeking the perceived safe haven of the Japanese currency amid a global market rout, spurred by growth concerns. The Nikkei 225 index closed down 5.4% on Tuesday.

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From:: Stock Market News

U.S. stock futures fell in early trade on Tuesday, pointing to continued losses for Wall Street. Dow Jones Industrial Average futures slid 124 points, or 0.8%, to 15,866, while S&P 500 futures dropped 14.75 points, or 0.8%, to 1,837.50. Nasdaq 100 futures fell 29 points, or 0.7%, to 3,936.25. In Monday’s session, U.S. stocks trimmed steep losses, but still finished broadly lower with the S&P 500 finishing at its lowest level since April 2014, at 1,853.44. Oil prices rose Tuesday, lifted some as the U.S. dollar fell sharply against the yen. Investors were seeking the perceived safe haven of the Japanese currency amid a global market rout, spurred by growth concerns. The Nikkei 225 index closed down 5.4% on Tuesday.

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From:: Stock Market News

Zenefits cofounder Parker Conrad has stepped down as chief executive of the startup after compliance issues were brought to light, the company announced Monday. Chief Operating Officer David Sacks, who founded Yammer and sold it to Microsoft Corp. after working at PayPal Inc. in its early years, will take over as CEO. Zenefits offers cloud-based human-resources software that focuses on obtaining health insurance, and has enjoyed a rapid rise: After being founded in 2013, the company was valued by venture investors at $4.5 billion in 2015, according to The Wall Street Journal. Zenefits’ compliance with laws requiring insurance to be sold by licensed brokers has been called into question, though, most recently by a Buzzfeed investigation, which appears to have cost Conrad his job. “The fact is that many of our internal processes, controls, and actions around compliance have been inadequate, and some decisions have just been plain wrong,” Sacks said in an email to employees that the company released. “As a result, Parker has resigned.”

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From:: Stock Market News

Owens-Illinois Inc. shares rose 3.6% to $12.75 in the extended session Monday after the glass-container maker met quarterly expectations but forecast a weak outlook. Owens-Illinois reported adjusted earnings of 40 cents a share on revenue of $1.63 billion. Analysts surveyed by FactSet had estimated 40 cents on revenue of $1.62 billion. O-I forecast full-year earnings of $2.10 to $2.25 a share, while analysts expect $2.26 a share.

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From:: Stock Market News

Gap Inc. said same-store sales for January were down 8% with sales for the four-weeks ending Jan. 30 totaling $813 million, down from $888 million in sales for the same period last year. Same-store sales at the global Gap brand were down 6% for January. Banana Republic’s same-store sales were down 17%. And same-store sales at Old Navy were down 6%. Sales for fiscal fourth quarter 2015 totaled $4.4 billion, down from $4.7 billion for the same period last year. The FactSet consensus was $4.5 billion. Same-store sales for the fourth quarter were down 7%. The FactSet estimate was for a 5.1% drop. Same-store sales at the global Gap brand for the fourth quarter were down 3%. Banana Republic’s same-store sales for the quarter were down 14%. And Old Navy’s same-store sales were down 8% for the quarter. Gap Inc. sees fiscal fourth-quarter adjusted earnings per share between 56 cents and 57 cents, beating the FactSet consensus of 53 cents. And full-year adjusted earnings per share are expected in the range of $2.41 and $2.42, beating the FactSet estimate of $2.37. Gap shares are up 0.7% in postmarket trading, but down 42.6% for the past 12 months. The S&P 500 is down 9.8% for the past year.

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From:: Stock Market News

Gap Inc. said same-store sales for January were down 8% with sales for the four-weeks ending Jan. 30 totaling $813 million, down from $888 million in sales for the same period last year. Same-store sales at the global Gap brand were down 6% for January. Banana Republic’s same-store sales were down 17%. And same-store sales at Old Navy were down 6%. Sales for fiscal fourth quarter 2015 totaled $4.4 billion, down from $4.7 billion for the same period last year. The FactSet consensus was $4.5 billion. Same-store sales for the fourth quarter were down 7%. The FactSet estimate was for a 5.1% drop. Same-store sales at the global Gap brand for the fourth quarter were down 3%. Banana Republic’s same-store sales for the quarter were down 14%. And Old Navy’s same-store sales were down 8% for the quarter. Gap Inc. sees fiscal fourth-quarter adjusted earnings per share between 56 cents and 57 cents, beating the FactSet consensus of 53 cents. And full-year adjusted earnings per share are expected in the range of $2.41 and $2.42, beating the FactSet estimate of $2.37. Gap shares are up 0.7% in postmarket trading, but down 42.6% for the past 12 months. The S&P 500 is down 9.8% for the past year.

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From:: Stock Market News

Shares of Qualys Inc. slid in Monday’s extended trade after the cybersecurity firm issued a weak profit outlook. Qualys reported its fourth-quarter earnings slumped to $5.42 million, or 14 cents a share, from $25.9 million, or 69 cents a share, in the same quarter last year. On an adjusted basis, the company earned 21 cents a share. Revenue grew 22% to $44.4 million. Analysts surveyed by FactSet had forecast earnings of 17 cents a share on revenue of $44.6 million. Qualys projected first-quarter adjusted earnings per share of 14 cents to 16 cents and revenue in a range of $44.7 million to $45.4 million, below analysts’ estimate for EPS of 18 cents and $46.3 million revenue. Shares fell 4.5% in the after-hours session.

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Oil production from seven major U.S. shale plays is expected to fall by 92,000 barrels a day in March from February, according to a monthly report from the Energy Information Administration released Monday. Oil output at the Eagle Ford shale play in South Texas is forecast to see the biggest decline, down 50,000 barrels a day in March, as the Bakken shale play, which stretches from Canada into North Dakota and Montana, is expected to see output fall by 25,000 barrels a day, the report said. Oil prices dropped Monday ahead of the report, with March oil settling at $29.69 a barrel, down $1.20, or 3.9%.

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From:: Stock Market News

Pizza Hut, a subsidiary of Yum Brands Inc. serving pizza, pasta and wings, said it broke its all-time digital sales record by halftime of Super Bowl 50 on Sunday. It had nearly $12 million in digital sales by day’s end, the company said in a Monday release. The previous record was nearly $10 million. More than 60% of digital orders were placed on a mobile device, exceeding orders placed on desktop computers for the first time. Yum Brands shares are down 3.7% in Monday trading and 9% for the past 12 months. The S&P 500 is down 10.2% for the past year.

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From:: Stock Market News