Tag: stock market

Atlassian Corp. PLC shares fell in the extended session Thursday after the enterprise software company released fiscal second-quarter results, which beat revenue and earnings expectations. Atlassian shares fell 3.8% to $53.48 after hours. The stock closed at a record high of $55.60 during the regular session Thursday. The company reported a fiscal second-quarter net loss of $65.2 million, or 28 cents a share, compared with a loss of 1.6 million, or one cent a share, in the year-ago period. Adjusted earnings were 13 cents a share. Revenue rose to $212.6 million from $148.9 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings 12 cents a share on revenue of $204.5 million. For the fiscal third quarter, analysts model adjusted earnings of 11 cents a share on revenue of $215.2 million. Atlassian stock has gained 104% in the last 12 months, with the S&P 500 index rising 23%.

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Although the S&P 500 is inching up toward another record close, market internal data is suggesting a broad market selloff. The stocks trading lower are outnumbering gainers by a 1,986-to-935 margin on the NYSE and by a 1,649-to-1,107 score on the Nasdaq exchange. Within the S&P 500, only 218 stocks were gaining ground. Still, the S&P 500 is up less than 0.1%, on track for the 10th gain in the 12 sessions of 2018.

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Shares of General Electric Co. sank 2.7% toward their first sub-$17 close in over six years, and the worst four-session stretch in nearly eight years, in the wake of the company’s disclosure ofmassive losses in its legacy insurance business earlier this week. The has tumbled 11.3% during its four-session losing streak, the biggest four-day drop since it plummeted 12.4% during period ending May 7, 2010. GE’s stock has tumbled 27% over the past three months, since the company announced its transformation plan, while the Dow Jones Industrial Average has rallied 13%.

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Target Corp. is adding a fragrance brand to its roster of exclusive lines with Good Chemistry, available at all Target stores on Jan. 21. Good Chemistry will include four collections: Confident and Charming, Good and Grounded, Vibrant and Playful and Cool and Collected. Each will have four scents. All of the fragrances will be vegan and paraben-free. Good Chemistry fragrances will be priced from $9.99 to $24.99. Target’s private label brands include Cat & Jack and it’s new women’s denim brand, Universal Thread. “Target’s push into beauty demonstrates that they are trying to combat an increasing trend of sales shifting from mass merchandisers to specialty beauty stores (like Sephora or Ulta) and online (to platforms like Amazon),” said Tom Gehani, director of retail client strategy and research, at L2. “From 2011 to 2016, mass merchants like Target went from 14% of beauty sales to 12%, while specialty retailers like Sephora and Ulta grew by 22%,” he added, citing research from Fung Global Retail and Technology. Target shares are up 28.5% for the past three months while the S&P 500 index is up 9.5% for the period.

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GNC Holdings Inc. shares have soared an eye-popping 42.1% in Thursday trading after the health and performance products chain gave a premarket profit outlook that exceeds expectations. GNC expects adjusted earnings per share in the range of 24-to-25 cents, up from seven cents last year. Same-store sales for domestic company-owned stores, including the website, are expected to be up 5.7%. GNC announced in December that it had hired Goldman Sachs to explore business alternatives. GNC said Thursday that providing preliminary fourth-quarter financial results is part of the process. GNC shares are down 55.7% for the past year, while the S&P 500 index is up 23.2% for the period.

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Gold prices fell Thursday, suffering from their biggest one-day dollar and percentage decline in more than a month. Gold sold off as traders grew wary of recent gains that lifted prices to their highest levels in four months. February gold fell $12, or 0.9%, to settle at $1,327.20 an ounce. That was the biggest one-day decline since Dec. 7, according to FactSet data. Prices had settled at $1,339.20 Wednesday-the highest since Sept. 8.

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Lions Gate Entertainment Corp. shares rose nearly 10% on Thursday after a Deadline report, citing one unnamed source, that the company is in active merger talks with Amazon.com Inc. , Verizon Communications Inc. and a potentially recombined Viacom Inc. and CBS Corp. . Lions Gate declined to comment. The report comes after multiple media reports that Shari Redstone, vice chair of Viacom and CBS, is pushing for the two companies to merge. Shares of Viacom rose roughly 8% on Thursday, while CBS shares rose almost 5%. Walt Disney Co. is also in the midst of trying to acquire TV and film entertainment assets from 21st Century Fox Inc. . Shares of Lions Gate Entertainment have gained more than 24% in the last 12 months, while the S&P 500 index is up more than 23% and the Dow Jones Industrial Average is up almost 32%.

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Bed Bath & Beyond Inc. is recalling about 175,000 Hudson Comforters by UGG because of the risk that they contain mold, the U.S. Consumer Products Safety Commission said Thursday. “Mold can be present, posing a risk of respiratory or other infections in individuals with compromised immune systems, damaged lungs or an allergy to mold,” the CPSC said in a statement. Consumers should stop using the comforters and return them for a full refund. Bed Batch & Beyond has created a hotline at 800-462-3966. The recall involves polyester comforters sold in four colors and three sizes between August 2017 and October 2017. The comforters were made by BHF International Ltd of Hong Kong in mainland China. Bed Bath & Beyond shares were slightly lower Thursday, and have fallen 43% in the last 12 months, while the S&P 500 has gained 23%.

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Facebook Inc. shares are up 0.6% in Thursday morning trading after its WhatsApp segment said it would roll out a new messaging app for small businesses. WhatsApp said in a blog post that the new app would “make it easier for companies to connect with customers, and more convenient for our 1.3 billion users to chat with businesses that matter to them.” The platform will enable customers to view basic information about small businesses within WhatsApp and let merchants devise “quick replies” to answer basic questions. WhatsApp said in July that it had a billion daily active users and 1.3 billion monthly active users. Facebook shares have gained 40% over the past 12 months, compared with a 23% rise for the S&P 500 in that time.

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The Dow Jones Industrial Average was seeing a modest slide late-Thursday morning, led by a sharp decline in shares of Boeing Co. The retreat for plane maker Boeing’s stock was erasing about 70 points from the Dow Jones Industrial Average in early trade, a day after the blue-chip component provided a roughly 110-point lift to the average. A $1 move in any one of the Dow’s members equates to a 6.83-point swing in the benchmark. Boeing’s shares were most recently off $10, or 2.8%, at $341.16. Because the Dow is price-weighted, Boeing has become the most influential of the Dow’s components. The Dow was off 84 points, or 0.3%, at 26,034, while the S&P 500 index was off 5 points, or 0.2%, at 2,797 and the Nasdaq Composite Index was down 0.1% at 7,294.

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