Tag: stock market

CBS Corp. said on Tuesday that CBS News anchor John Dickerson will join “CBS This Morning” as a co-host alongside Gayle King and Norah O’Donnell. Dickerson replaces former morning show co-host Charlie Rose, who was fired by the network back in November following allegations of sexual harassment. Dickerson, who has been the anchor of CBS’s “Face the Nation” since 2015, will begin his new role on Wednesday. “Every time I’ve been on the show, I haven’t wanted the conversation with Norah [O’Donnell] and Gayle [King] to end when my segment does. Now it doesn’t have to,” Dickerson said in a statement. Dickerson has been at CBS since 2009, and served as CBS’s political director for six years. Before going to CBS, Dickerson was the chief political correspondent at Slate Magazine, and he covered politics for 12 years at Time magazine before that. Shares of CBS have declined nearly 11% in the last 12 months, while the S&P 500 index is up more than 21% and the Dow Jones Industrial Average is up more than 27%.

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Former Sheriff Joe Arpaio plans to run for Senate in Arizona, he announced Tuesday. Arpaio was pardoned in August by President Donald Trump, after being convicted for defying a judge’s order to end traffic patrols targeting immigrants. Arpaio said in a tweet he’s running “to support the agenda and policies of President Donald Trump in his mission to Make America Great Again.” Arizona Sen. Jeff Flake, a Republican, has announced he won’t seek re-election.

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Shares of Boston Scientific Corp. surged 5.2% in morning trade Tuesday, enough to make them the second-biggest gainer among S&P 500 components, after the medical technology company provided an upbeat sales outlook. The company said it expects fourth-quarter revenue that of about $2.41 billion, up 9.9% from a year ago. In comparison, the FactSet consensus of $2.35 billion represents growth of 7.4%. Among the company’s business segments, Cardiovascular sales of $910 million topped the FactSet consensus of $896 million, MedSurg sales of $930 million were above expectations of $905 million and Rhythm Management sales of $560 million were in line with expectations of $558 million. The stock has lost 7.5% over the past three months, while the SPDR Health Care Select Sector ETF has gained 3.9% and the S&P 500 has tacked on 3.9%. Separately, the S&P 500’s biggest gainer was Illumina Inc.’s stock , which rallied 5.3% after the company announced an agreement with Thermo Fisher Scientific Inc. to provider gene-sequencing researchers with broader access to Ion AmpliSeq Technology.

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Shares of Altice USA Inc. gained more than 15% in intraday trade on Tuesday after the telecom’s European parent company said it plans to spin off its controlling stake in the U.S. arm. Shares of the French Altice N.V. were up more than 9%. Altice has been under pressure to deleverage, said Raymond James analyst Stephane Beyazian. “If pressure on the valuation of Altice Europe due to SFR continues, we think the reorganization could eventually open the door to a positive outcome in the French market,” Beyazian wrote in a note to investors. “A separate listing of Altice Europe makes a sale of this asset easier, to Bouygues or Iliad for instance, which could both consider market consolidation synergies in France, in our view. However, we doubt that the intention to sell is unlikely to be reached in the medium-term, as this would require a material discount to the price paid for these assets.” Shares of Altice N.V. have declined 42% in the last three months, while Altice USA is down nearly 12%. By comparison, the S&P 500 index is up 8% in the last three months and the Dow Jones Industrial Average is up 11%.

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The yield for the benchmark 10-year Treasury note climbed to its highest level in 10 months on Tuesday. The 10-year note yield rose 4 basis points to 2.520%, its highest since March 17. The 2-year note yield fell 1.2 basis point to 1.948%. The 30-year bond yield climbed 5.5 basis points. Market participants said the move higher was kick-started by the Bank of Japan’s decision to reduce its purchases of long-dated debt, sparking anticipation the central bank would back away from its ultra-accommodative monetary policy.

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Urban Outfitters Inc. shares are down 5.2% in Tuesday premarket trading after the retailer reported same-store sales for the November and December period that fell below expectations. Sales for the period were up 3.6% year over year, and same-store sales for the retail segment were up 2%. Chief Financial Officer Francis Conforti, speaking at the ICR Conference on Monday, noted that the 2% was “slightly below” where the company was at the time it filed a 10-Q in December. “All of that is due to the Urban Outfitters brand in North America, and that’s tech and media,” he said, according to a FactSet transcript. Specifically, the company was not able to make up for the volume over the past couple of years in Crosley cameras and camera film. “We knew it was going to be a challenging category for us in the holiday season, but it was worse than what we had anticipated,” Conforti said. The tech and media category tends to double in December and then is halved the rest of the year, he added. Same-store sales were up 5% at Free People, up 2% at Anthropologie, and up 1% at the Urban Outfitters brand. Urban Outfitters shares are up 47% for the past three months, outpacing the S&P 500 index , which is up 8% for the period.

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Sprouts Farmers Market Inc. shares are up 2% in Tuesday trading after the grocer reported preliminary fourth-quarter same-store sales growth of 4.6%, exceeding the 4.1% FactSet consensus. For the fiscal year ending Dec. 31, 2017, Sprouts expects to report sales growth of 15.3%, same-store sales growth of 2.9% and earnings per share “slightly above” guidance in the range of 98-to-99 cents. The FactSet consensus is for EPS of 99 cents. Sprouts has also announced an expanded partnership with Instacart. Starting Tuesday, home delivery will be available in select zip codes in Phoenix and Tucson, AZ. Sprouts already offers Instacart service in eight cities. Sprouts Farmers Market shares are up 39.4% for the last three months, outpacing the S&P 500 index , which is up 8% for the period.

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U.S. stock-market indexes traded in record territory after modest opening gains on Tuesday, with the Dow resuming its record run after a pause. The S&P 500 rose 5 points, or 0.2%, to 2,752. The tech-heavy Nasdaq Composite index advanced by 17 points, or 0.3%, to 7,176. The Dow Jones Industrial Average gained 56 points, or 0.3%, to 25,338 at the open. Among the best performers on Wall Street, shares of Target Inc. jumped after the discount retailer raised its fiscal fourth-quarter profit outlook, citing stronger-than-expected holiday sales.

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T-Mobile US Inc. said on Tuesday that it added 5.7 million customers in 2017. The company said this is the fourth year in a row that it’s added more than 5 million new members. In the last five years, T-Mobile’s reported customer base has risen by more than 39 million users. FactSet’s consensus on net additions for 2017 was 5.2 million subscribers. T-Mobile said it added 1.9 million subscribers in the most recent fourth quarter, which also saw record low churn for postpaid customers. In the full year churn was down 10 basis points compared with last year. Shares of T-Mobile were up a little more than 1% in premarket trade, and have gained nearly 15% in the last 12 months. By comparison, the S&P 500 index is up more than 21% and the Dow Jones Industrial Average is up more than 27%.

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.

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Urban Outfitters Inc. shares are down 5.2% in Tuesday premarket trading after the retailer reported same-store sales for the November and December period that fell below expectations. Sales for the period were up 3.6% year over year, and same-store sales for the retail segment were up 2%. Chief Financial Officer Francis Conforti, speaking at the ICR Conference on Monday, noted that the 2% was “slightly below” where the company was at the time it filed a 10-Q in December. “All of that is due to the Urban Outfitters brand in North America, and that’s tech and media,” he said, according to a FactSet transcript. Specifically, the company was not able to make up for the volume over the past couple of years in Crosley cameras and camera film. “We knew it was going to be a challenging category for us in the holiday season, but it was worse than what we had anticipated,” Conforti said. The tech and media category tends to double in December and then is halved the rest of the year, he added. Same-store sales were up 5% at Free People, up 2% at Anthropologie, and up 1% at the Urban Outfitters brand. Urban Outfitters shares are up 47% for the past three months, outpacing the S&P 500 index , which is up 8% for the period.

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.

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