Tag: stock market

Pfizer Inc. reported on Tuesday fourth-quarter earnings of $613 million, or 10 cents per share, compared with $1.228 billion, or 19 cents per share the same period a year ago. The latest results include three months of legacy Hospira global operations, Pfizer said. Adjusted EPS was 53 cents per share, above the FactSet consensus of 52 cents per share. Revenue rose to $14.05 billion from $13.12 billion, above the FactSet consensus of $13.58 billion. For 2016, the company said it expects “significant negative currency impact related to Venezuela.” Not including the effects of its pending inversion with Allergan plc, Pfizer said it expects adjusted EPS of $2.20 to $2.30, including the impact of currencies, compared to the FactSet consensus of $2.38 per share. Revenue in 2016 is expected to be $49 to $51 billion including the currency impact, compared to the FactSet consensus of about $53 million. Pfizer stock slipped 0.6% in pre-market trade. The stock had lost 14% in the last three months through Monday, while the S&P 500 has declined 7.83%.

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Archer Daniels Midland, a food processing and commodities trading company, missed fourth-quarter sales and earning expectations Tuesday. The company reported net income of $718 million, or $1.19 a share, up from $701 million, or $1.08 per share, in the year-earlier period. Archer Daniels reported adjusted earnings per share of 61 cents, below the FactSet consensus of 64 cents. The company reported revenue of $16.45 billion, down from $20.89 billion in the year-earlier period and below the FactSet consensus of $19.4 billion. The company CEO cited the global economy’s effect on U.S. agriculture, U.S. ethanol and international soybean industry for the lower profits. For 2016, the company raised its dividend by 7% to 30 cents a share with share repurchases between $1 billion and !1.5 billion.

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LoJack Corp. shares jumped in the extended session Monday after CalAmp Corp. offered to buy the vehicle theft-prevention device company for $134 million. LoJack shares surged 18% to $6.34 after hours. CalAmp said it offered $6.45 a share cash for LoJack, and that both company boards had approved the deal. CalAmp expects the acquisition to add 15 cents to 25 cents a share to its fiscal 2017 earnings.

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Plantronics Inc. reported quarterly earnings that topped Wall Street estimates Monday, but revenue figures as well as the headset maker’s earnings outlook fell short of Wall Street estimates. For the fiscal third quarter, the company reported adjusted earnings of 83 cents a share on revenue of $225.7 million. Analysts surveyed by FactSet had forecast earnings of 76 cents a share on revenue of $230.4 million. Plantronics said it expects adjusted fiscal fourth-quarter earnings of 50 cents to 60 cents share on revenue of $200 million to $210 million. Analysts expect 73 cents a share on revenue of $207.8 million. The company said its board approved a new stock buyback plan of up to 1 million shares.

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Shares of retailer PVH Corp. , which owns Calvin Klein, Tommy Hilfiger and other clothing lines, rose late Monday as the company said it expects adjusted, full year 2015 earnings in the upper end of its guidance, or around $7 a share. Strength in the Calvin Klein and Tommy Hilfiger global businesses offset a “difficult” retail environment in the U.S., which included unseasonably warm weather and fewer international tourist spending, the company said in a statement. Shares of PVH rose 5% in late trading Monday after ending the regular session down 0.3%.

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Shares of Mattel Inc. surged in Monday’s extended trade after the toy maker posted higher sales, snapping an eight-quarter losing streak. Mattel reported its fourth-quarter earnings rose to $215.2 million, or 63 cents a share, from $149.9 million, or 44 cents a share, in the same quarter last year. Excluding items, the company famous for its iconic Barbie dolls would have earned 67 cents a share. Revenue grew to $2 billion from $1.99 billion a year ago. Analysts surveyed by FactSet had forecast earnings of 61 cents on $1.91 billion in revenue. Mattel shares jumped 6.5% in after-hours session.

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Shares of Alphabet Inc. surged 8% in after-hours trade, which would push its market capitalization above that of Apple Inc.’s for the first time, after the company reported stronger-than-expected fourth-quarter earnings. The company, which broke out core Google earnings from its “other bets” this quarter, reported earnings of $4.9 billion, or $7.06 a share, compared with $4.6 billion, or $6.79 a share, in the year-earlier period. Excluding one-time items, Alphabet reported earnings of $8.67, topping the FactSet consensus estimate of $8.10. Total revenue rose to $21.3 billion, versus $14.5 billion last year, beating expectations of $16.9 billion. Revenue from its core Google business jumped 18% to $21.2 billion.

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WASHINGTON (MarketWatch) – The U.S. government expects to borrow $250 billion in the January-March quarter, an estimate that is $85 billion higher than previously projected in November, the Treasury Department said Monday. The latest estimate includes an assumption of an end-of-March cash balance of $320 billion. For the April-June quarter, Treasury expects to pay down $112 billion in net marketable debt assuming a cash balance of $350 billion. During the October-December quarter, Treasury issued $354 billion in net marketable debt and ended with a cash balance of $333 billion.

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Oil futures fell 6% on Monday as downbeat economic data from China and growing doubts over a coordinated oil-producer output cut helped prices settle lower for the first time in five sessions. March West Texas Intermediate crude finished at $31.62 a barrel on the New York Mercantile Exchange, down $2. Prices had gained roughly 10.8% over the past four consecutive sessions.

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Macy’s Inc. named Peter Sachse new chief growth officer, the company said Monday. Sachse, who was chief innovation and business development officer for the past year, will oversee merchandising for Macy’s, off-price retailer Macy’s Backstage, luxury beauty brand BlueMercury, and international expansion. Justin MacFarlane has joined the company as chief strategy, analytics and innovation officer. MacFarlane joins from Ann Inc., an Ascena Retail Group Inc. company, where he was senior vice president of corporate strategy. Both of the jobs at Macy’s are new positions, said Chief Executive Terry Lundgren in a press release. Macy’s shares were up 0.7% in Monday trading, but down 36.3% over the past year. The S&P 500 is down 3.1% for the previous 12 months.

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