Tag: stock market

Valeant Pharmaceuticals International Inc. jumped 6.5% in premarket action on Friday after the U.S. Food and Drug Administration late Thursday approved the company’s Vyzulta drug. The drug, a treatment for open angle glaucoma, has been developed by Valeant’s wholly-owned subsidiary Bausch + Lomb and France’s Nicox SA . Shares of Nicox soared 26% in Paris. “We expect to make this new advancement available for those who suffer with glaucoma before the end of the year,” said Joseph C. Papa, Valeant’s chairman and CEO, in a press release.

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President Donald Trump’s Twitter Inc. account was deactivated by a Twitter employee on Thursday, the company said. The account @realDonaldTrump was down for 11 minutes and has been restored. While the company at first said the account was “inadvertently deactivated due to human error,” Twitter later suggested that it may have been intentional. “Through our investigation we have learned that this was done by a Twitter customer support employee who did this on the employee’s last day. We are conducting a full internal review,” the company said in a tweet.

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President Donald Trump’s Twitter Inc. account was mistakenly deactivated by a Twitter employee on Thursday, the company said. The account @realDonaldTrump was down for 11 minutes and has been restored. Further details were not immediately available from a company spokeswoman. “We are continuing to investigate and are taking steps to prevent this from happening again,” the company said in a tweet.

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New allegations of sexual harassment emerged late Thursday against actor Kevin Spacey, and a former production assistant on the Netflix Inc. series “House of Cards” said Spacey sexually assaulted him, CNN reported. Spacey created a “toxic” work environment though a pattern of “predatory” harassment, eight people who worked on the show told CNN. The production assistant said Spacey touched him in a nonconsensual way while driving, during one of the early seasons of the series. “I was in a state of shock,” he told CNN. “He was a man in a very powerful position on the show and I was someone very low on the totem pole and on the food chain there.” Netflix announced Monday that “House of Cards” would end after the upcoming sixth season, and production on that season was halted Wednesday “to review the current situation.” On Sunday, Buzzfeed published a report that Spacey made sexual advances toward fellow actor Anthony Rapp in 1986, when Rapp was just 14. On Monday, Spacey said he did not remember the incident, but apologized and came out publicly as gay. On Wednesday, Spacey’s agent said the actor is seeking unspecified treatment in light of the allegations.

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Chemours Co. shares fell 3.3% late Thursday after the chemicals company, spun off DuPont two years ago, reported adjusted third-quarter earnings above Wall Street expectations. Chemours said it earned $207 million, or $1.08 a share, in the quarter, compared with $204 million, or $1.11 a share, in the year-ago period. Adjusted for one-time items, Chemours said it earned $214 million, or $1.12 a share, compared with $112 million, or 61 cents a share, a year ago. Revenue rose 13% to $1.6 billion, from $1.4 billion a year ago. Analysts had expected adjusted earnings of $1.04 a share on sales of $1.6 billion. Shares ended the regular trading session down 2%.

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Billionaire and TD Ameritrade founder Bill Ricketts pulled the plug on local news blogs DNAinfo and Gothamist late Thursday, a week after the New York-based newsrooms voted to unionize. “DNAinfo is, at the end of the day, a business, and businesses need to be economically successful if they are to endure,” Ricketts said in a statement posted on the sites. Ricketts founded DNAinfo in 2009, but the progress made at the digital-news company “hasn’t been sufficient to support” itself financially, he said. DNAinfo bought Gothamist in March. DNAinfo cited the recent union vote in a statement, according to the New York Times: “The decision by the editorial team to unionize is simply another competitive obstacle making it harder for the business to be financially successful.” The sites attracted more than 9 million visitors a month, and included Gothamist operations in Chicago, Washington, San Francisco and Los Angeles. About 155 employees were laid off.

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Shares of Hortonworks Inc. fell nearly 6% late Thursday after the data management company reported a narrower-than-expected adjusted loss in the third quarter and sales that also beat expectations. Hortonworks said it lost $45.4 million, or 67 cents a share, in the quarter, compared with a loss of $64.7 million, or $1.10 a share, in the year-ago period. Adjusted for one-time items, the company lost $16.6 million, or 24 cents a share, compared with a net loss of $40.2 million, or 68 cents a share, a year ago. Revenue rose 45% to $69 million, from $47.5 million a year ago. Analysts polled by FactSet had expected an adjusted loss of 40 cents a share on sales of $63 million. The company said it expects revenue around $70 million in the fourth quarter, and $257 million for full-year 2017. The analysts surveyed by FactSet expect fourth-quarter sales of $67 million and full-year revenue of $247 million. Hortonworks shares ended the regular trading day up 2.6%.

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Apple Inc. shares surged in the extended session Thursday after the company beat earnings and revenue expectations. Apple shares jumped 3.3% to $173.74 after hours. The company reported fiscal fourth-quarter net income of $10.71 billion, or $2.07 a share, compared to $9 billion, or $1.67 a share, in the year-ago period. Revenue rose to $52.6 billion from $46.85 billion in the year-ago period. Analysts surveyed by FactSet had estimated $1.87 a share on revenue of $50.69 billion. For the fiscal first quarter, analysts expect earnings of $3.75 a share on revenue of $85.16 billion. Executives issued fiscal first-quarter guidance of between $84 billion and $87 billion. Apple stock has surged 45.2% this year, with the S&P 500 index rising 15.2%. The Dow Jones Industrial Average , of which Apple is a component, rose 19% this year.

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Treasury yields showed subdued action after President Donald Trump said he would nominate Federal Reserve Gov. Jerome Powell to succeed Janet Yellen when her term as chairwoman expires in February, as expected. The 10-year yield fell to 2.348%, compared with 2.378% on late Wednesday. The 2-year yield was down at 1.608% from 1.620%, while the 30-year yield slipped to 2.830%, versus 2.865%. Like Yellen, Powell is seen as a nominee that would be less aggressive about raising interest rates.

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The U.S. dollar registered some modest gains after President Donald Trump on Thursday announced he would nominate Jerome Powell to be chairman of the Federal Reserve. Powell is a Fed governor and was considered a dovish candidate to fill the shoes of present Chairwoman Janet Yellen after her term ends in February. The ICE U.S. Dollar index , which has been lower for all of Thursday, was initially muted but pared its previous losses upon Powell’s acceptance. It was last down 0.1% down at 94.723.

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