Tag: stock market

Mylan N.V. shares fell 4% in premarket trade Monday, after the drug company missed estimates for third-quarter earnings. The company said it had net income of $88.3 million, or 16 cents a share, after a loss of $119.8 million, or 23 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.10, below the FactSet consensus of $1.20. Revenue edged down to $2.987 billion from $3.057 billion, also below the FactSet consensus of $3.077 billion. Chief Executive Heather Bresch said EpiPen sales continued to slow, thanks to the launch of a new generic and the contraction of the overall epinephrine auto-injector market. The company said it is raising the low end of its adjusted EPS guidance range, and is now expecting 2017 EPS of $4.45 to $4.70. The company is expecting revenue of $11.75 billion to $12.50 billion. The FactSet consensus is for full-year EPS of $4.58 and revenue of $12.04 billion. Shares are down 6.4% in 2017, while the S&P 500 has gained about 16%.

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Netflix Inc. customers are being warned about a new targeted email scam to steal their credit card information. The bogus emails were first detected Friday by Australian cybersecurity company MailGuard, targeting some of Netflix’s 110 million customers worldwide. The official-looking email warns users that their account is about to be canceled unless they update their account information. Users who click on the provided link are asked to provide their name, date of birth, address and credit card number — only the data goes right to the scammers. Experts say if you’re unsure about your account status, go instead to Netflix’s website, log in and securely check your information there.

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Sen. Rand Paul suffered more extreme injuries that initially reported during an altercation with a neighbor Friday. The Kentucky Republican received five broken ribs and bruises to his lungs, officials said Sunday. Paul, 54, was allegedly assaulted by his next-door neighbor in Bowling Green, Kent., 59-year-old Rene Boucher. The cause of the altercation is not yet known. Boucher, an anesthesiologist, has been charged with fourth-degree assault. One of Paul’s aides said Sunday he does not know when Paul might be well enough to rejoin the Senate. “This type of injury is caused by high velocity severe force,” Paul strategist Doug Stafford said in a statement. “It is not clear exactly how soon he will return to work, as the pain is considerable as is the difficulty in getting around, including flying.”

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A Saudi prince and seven other high-ranking officials were killed in a helicopter crash Sunday near the border of Saudi Arabia and Yemen, according to news reports. Reportedly among the dead was Prince Mansour bin Muqrin, the son of the former crown prince. The crash comes amid a tumultuous weekend in Saudi Arabia: A number of royals and top officials, including billionaire Prince al-Waleed bin Talal, were arrested in an anti-corruption crackdown Saturday; a ballistic missile apparently fired from Yemen was intercepted near the Saudi capital, Riyadh, on Saturday; and on Friday, Lebanon’s prime minister, Saad Hariri, announced his resignation during a visit to Riyadh.

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More than 20 people were killed during a mass shooting at a Baptist church in Sutherland Springs, Texas, on Sunday. “I would say it’s up there around 20-plus, I’m not sure,” Wilson County Commissioner Paul Pheil told reporters. He said another 20-plus people were wounded. Authorities said the shooter was dead. President Donald Trump tweeted his condolences from Japan: “May God be w/ the people of Sutherland Springs, Texas. The FBI & law enforcement are on the scene. I am monitoring the situation from Japan,” he said.

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Marvell Technology Group Ltd. is in talks to combine operations with Cavium Inc. and a deal could be announced in the next few weeks, according to The Wall Street Journal, which cited people familiar with the matter. Cavium stock is up 14.1% after hours to $77.98, and Marvell shares are up 5.6% to $19.50. As of Friday investors value Cavium at $4.6 billion and Marvell at $9 billion. Cavium makes chips and Marvell makes products for networking, data-center and wireless applications, according to the Journal. Cavium is up 9.3% this year, with the S&P 500 index up 15.2%. Marvell stock is up 33.5% this year.

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Shares of Berkshire Hathaway Inc. fell 1% late Friday after the conglomerate led by legendary investor Warren Buffett reported adjusted per-share earnings under expectations and falling third-quarter operating earnings that included a $1.4 billion loss in insurance underwriting. All told, operating earnings fell to $3.44 billion in the third quarter, from $4.85 billion a year ago. Berkshire reported net earnings of $4.07 billion in the third quarter, compared with $7.20 billion a year ago. Net earnings per Class A share fell to $2,473, compared with $4,379 a Class A share a year ago. Analysts polled by FactSet had expected the loss from underwriting to be around $1.29 billion, and forecast adjusted earnings per Class A share at $2,385.40.

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U.S. equities finished the week by breaking another set of records on Friday, as all three major benchmarks closed at highs thanks to strong Apple earnings and ISM nonmanufacturing data for October. The Dow , which opened at an intraday record, was 0.1% up at 23,539, making this its eighth straight weekly gain. Meanwhile, the S&P 500 rose 0.3% to 2,588, also the eighth positive week in a row. The tech-heavy Nasdaq Composite rose 0.7% to 6,764, marking its sixth consecutive weekly gain. Apple , one of Friday’s main drivers, rose 2.7% to $172.60 and zeroed in on a $900 billion valuation, after beating earnings estimates late Thursday.

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Aetna Inc. shares spiked 3.6% in extremely heavy afternoon trade Friday after a Reuters report that CVS Health Corp. could announce an acquisition of the health insurer for more than $70 billion by next month. Aetna stock had been trading down about 1% just before the report; shares have surged since an earlier Wall Street Journal report that a deal was being explored. CVS shares slumped 0.2% in afternoon trade. Aetna shares have surged 13% over the last three months, compared with a 4.6% rise in the S&P 500 .

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Oil prices again rallied to their highest levels in more than two years on Friday, as a weekly drop in active U.S. oil rigs fed expectations for a slowdown in domestic crude output growth. The data come on the heels of last week’s declines in U.S. crude and crude products and expectations that the Organization of the Petroleum Exporting Countries will extend its output-cut deal beyond March 2018 continued to support prices. December West Texas Intermediate crude , the U.S. benchmark, added $1.10, or 2%, to settle at $55.64 a barrel on the New York Mercantile Exchange. That was the highest since July 2015, according to FactSet data. For the week, prices rose about 3.2%.

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