Tag: stock market

Perry Ellis International Inc. shares fell 3.8% in Friday premarket trading after the fashion brand gave guidance that is below consensus. Net income for the quarter was $39.7 million, or $2.56 per share, up from $9.0 million, or 59 cents per share, last year. Adjusted EPS was 88 cents. Revenue totaled $227.3 million, up from $204.2 million year-over-year. The FactSet consensus was for EPS of 88 cents and revenue of $226.0 million. Perry Ellis expects fiscal 2019 sales in the range of $855.0 million to $865.0 million and EPS in the range of $1.80 to $1.90. For comparison purposes, the company adjusted its 2018 revenue and earnings results to account for the transition of the Laundry business to a license model and the elimination of Bon-Ton Stores Inc. sales. The FactSet consensus is for sales of $1.17 billion and EPS of $2.99. Perry Ellis shares are up 16.1% for the past year, outpacing the S&P 500 index , which is up 15.4% for the period.

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The Buckle Inc. shares shot up 6.6% in premarket trade Friday, after the company reported better-than-expected earnings for its fiscal fourth quarter. The retailer said it had net income of $42 million, or 87 cents a share, in the quarter, up from $36 million, or 75 cents a share, in the year-earlier period. Sales rose 0.4% to $281.2 million, while same-store sales fell 3.2%. The FactSet consensus was for EPS of 75 cents, sales of $281 million and for a same-store sales decline of 3.4%. Shares are down 3.7% in the last 12 months through Thursday, while the S&P 500 has gained 15%.

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Hibbett Sports Inc. shares rose nearly 1% in Friday premarket trading after fourth-quarter results met expectations. Net income totaled $9.7 million, or 51 cents per share, down from $12.1 million, or 54 cents per share, for the same period last year. The company said the tax overhaul did not have a significant impact on quarterly earnings, however results included a one-time gain of 7 cents per share due to the sale of the Team division and 8 cents per share due to an additional week. Revenue totaled $266.7 million, up from $246.9 million year-over-year. Same-store sales rose 1.6% for the quarter. The FactSet consensus was for EPS of 44 cents, sales of $267.0 million and same-store sales growth of 1.6%. The company said e-commerce accounted for 7.6% of sales for the quarter. It launched its e-commerce site in 2017. For fiscal 2019, the company sees EPS in the range of $1.65 to $1.95 and same-store sales in the range of a 1% decline and 2% growth. The FactSet consensus is for EPS of $1.97 and same-store sales growth of 2.1%. Hibbett shares are up 7.7% for the last three months, but down 23.2% for the past year. The S&P 500 index is up 15.4% for the last 12 months.

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Germany’s DAX 30 index opened 0.4% higher at 12,395.55 in a delayed start on Friday, after failing to kick off trade at the usual time. Trading was delayed due to a connectivity issue, with prevented stable access for market participants to the trading system, a spokesperson from Deutsche Boerse said. “Equal access for all traders could not be guaranteed, so that was the reason [for the halt]”, he said. “Why exactly, cannot be assessed yet. They are still looking into this and analyzing… An investigation is standard procedure and we need to know exactly what went on so this can be prevented in the future,” he added. Trading across Europe — including Germany — usually starts at 9:00 a.m. Central European Time, or 4:00 a.m. Eastern Time.

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Germany’s DAX 30 index is set to reopen for trading around 9:40 a.m. local time, or 4:40 a.m. Eastern Time, after being failing to open at the usual time earlier on Friday. A spokesperson from Deutsche Boerse said trading would start again at 9:30 a.m local time with an auction, which usually takes about 10 min. That means regular trade will commence at 9:40-9:45 a.m., he said. “We can’t say anything yet about the reasons for this or the background, but we are checking in to this of course,” he said.

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President Donald Trump has decided to replace his national security adviser, H.R. McMaster, the Washington Post reported late Thursday, but is waiting to find a replacement before making an announcement. The Post said more top administration officials may be ousted soon as well. The imminent shakeup comes on the heels of last week’s resignation of Gary Cohn, Trump’s economic adviser, and Trump’s firing of Secretary of State Rex Tillerson earlier this week. The Post said Trump is feeling more emboldened after recently announcing tariffs on steel and aluminum imports and agreeing to meet North Korean leader Kim Jong Un. Now, the Post reported, Trump is actively seeking out a replacement for McMaster and seeking to make sure the former general is not humiliated by his ouster.

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John McEntee, President Donald Trump’s personal assistant, was fired from his job earlier this week because his frequent gambling posed a security risk, according to a Washington Post report late Thursday. McEntee was escorted out of the White House on Tuesday after being terminated, but the White House did not give a reason why. The Post reported a background check revealed he gambled tens of thousands of dollars at a time, and while that may have been legal, it opened him up to a potential vulnerability that could have been exploited. After his ouster Tuesday, Trump’s re-election committee said McEntee would join its staff as a senior adviser.

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Cloud-based security company Zscaler Inc. reportedly priced its initial public offering above an already elevated range late Thursday. The company priced its IPO at $16 a share, according to IPO Boutique. Zscaler shares begin trading on the Nasdaq on Friday under the ticker symbol ZS. The company was originally planning to sell 10 million shares for $10 to $12 apiece, but recently bumped that up to 12 million shares and a $13-to-$15 price range.

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Kroger Co. shares rose in the extended session Thursday after the supermarket operator said it will buy back up to $1 billion in shares and hopes to raise its dividend in the future. Kroger shares advanced 1.3% after hours, following a 0.8% rise to close the regular session at $23.63. The company said the $1 billion authorization supplements the $76 million remaining on its previous authorization. Kroger also declared its usual a 12.5-cents-a-share dividend, and said it expects “to have an increasing dividend over time” subject to board approval.

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China’s holdings of U.S. government bonds fell by $16.7 billion in January to $1.168 trillion, the lowest since July 2017, according to the widely watched Treasury International Capital Report. The report comes amid concerns China may slow its purchases of Treasurys, and even sell them altogether, in retaliation against further tariffs imposed by the White House. But the dip in its holdings marks a steady downtrend from August. The People’s Bank of China, its central bank, has saw a reduced need to stock up on foreign-exchange reserves, largely made up of Treasurys, as the yuan has stabilized and the dollar has weakened. The country’s currency regulator said in January it would diversify its foreign exchange reserves in order to wean itself from its traditional dependence on U.S. government bonds.

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