Tag: stock market

Uber Technologies Inc. confirmed Tuesday night that New York terror suspect Sayfullo Saipov was one of its drivers, and had passed a background check, CBS News reported. CBS said Saipov, an immigrant from Uzbekistan, was also a truck driver with addresses in New Jersey and Florida with no criminal background, and only four traffic tickets on his record. “We are horrified by the senseless act of violence,” Uber said in a statement late Tuesday. “Our hearts are with the victims and their families. We have reached out to law enforcement to provide full assistance.” Uber banned Saipov from the app sometime after the incident Tuesday afternoon, when Saipov allegedly mowed down pedestrians and cyclists, killing at least eight people in lower Manhattan.

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A wild World Series will end in appropriate fashion — with a dramatic and deciding Game 7 on Wednesday. The Los Angeles Dodgers kept their championship hopes alive Tuesday night with a 3-1 home victory over the Houston Astros in Game 6. In a series that’s been notable for dramatic home runs and multiple lead changes, Tuesday’s game was a throwback, relying more on pitching and timely hitting. The Dodgers took the lead in the sixth inning on a sacrifice fly by Corey Seager off Astros ace Justin Verlander, and Joc Pederson hit a solo home run in the seventh to add insurance. Wednesday’s Game 7 will start at 8:20 p.m. Eastern. It will be the third time in the past four years that the World Series has gone seven games. The San Francisco Giants won Game 7 over the Kansas City Royals in 2014, and the Chicago Cubs beat the Cleveland Indians in Game 7 last year.

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Cisco Systems Inc. is seeking to sell a big part of its business related to pay-TV providers, the NDS Group unit that Cisco purchased for $5 billion just five years ago, according to a Tuesday afternoon report. Bloomberg News reported that Cisco is soliciting offers for the business unit, but did not quote a projected price tag nor any prospective buyers. NDS is part of Cisco’s service-provider video segment, which has experienced declining revenue in each of the last three full years and has already sold the Scientific-American set-top box business for much less than Cisco paid. Cisco shares gained 0.2% in late trading Tuesday after closing with a 0.3% gain at $34.15.

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U.S. Steel Corp. shares rallied in the extended session Tuesday after the steelmaker’s quarterly results and outlook topped Wall Street estimates. U.S. Steel shares surged 9% to $27.50 after hours. The company reported third-quarter net income of $147 million, or 83 cents a share, compared with $51 million, or 32 cents a share, in the year-ago period. Adjusted earnings were 92 cents a share. Revenue rose to $3.25 billion from $2.67 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 70 cents a share on revenue of $3.07 billion. For the year, U.S. Steel estimates adjusted earnings of $1.70 a share. Analysts expect earnings of $1.63 a share.

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Check Point Software Technologies Ltd. shares fell in the extended session Tuesday after the security software company forecast revenue below Wall Street expectations following in-line earnings. Check Point shares fell 7.2% to $109.19 after hours. In a conference call, Check Point forecast adjusted earnings of $1.45 to $1.55 a share on revenue of $485 million to $525 million for the fourth quarter because of restructuring in the company’s U.S. sales force. Analysts surveyed by FactSet had forecast earnings of $1.48 a share on revenue of $529.2 million. The company reported third-quarter net income of $192.7 million, or $1.16 a share, compared with $169.7 million, or $1 a share, in the year-ago period. Adjusted earnings were $1.30 a share. Revenue rose to $454.6 million from $427.6 million in the year-ago period. Analysts had estimated $1.30 a share on revenue of $455 million.

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Qualys Inc. shares rose in the extended session Tuesday after the cloud-based security company topped Wall Street estimates for the quarter and raised its outlook for the year. Qualys shares rallied 7.6% to $56.90 after hours. The company reported third-quarter net income of $8.5 million, or 21 cents a share, compared with $5 million, or 13 cents a share, in the year-ago period. Adjusted earnings were 31 cents a share. Revenue rose to $59.5 million from $51 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 22 cents a share on revenue of $58.6 million. For the year, Qualys raised its outlook and now estimates adjusted earnings of $1.04 to $1.06 a share on revenue of $229.6 million to $230.1 million. Analysts expect full-year earnings of 90 cents a share on revenue of $227.5 million.

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The American Petroleum Institute reported Tuesday that U.S. crude supplies dropped by 5.1 million barrels for the week ended Oct. 27, according to sources. The API data also showed a decline of 7.7 million barrels in gasoline stockpiles, while inventories of distillates lost 3.1 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a fall of 1.4 million barrels in crude inventories, along with declines of 1.7 million barrels for gasoline and 2.5 million barrels for distillate supplies. December crude was at $54.68 a barrel in electronic trading, up from the settlement of $54.38 on the New York Mercantile Exchange.

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Shares of General Electric Co. fell 1.2% to a 5-year low, closing out their worst monthly performance since the Great Recession with a seven-session losing streak. The stock plunged 16.6% in October, in the wake of disappointing earnings, uncertainty over the company’s direction after several high-level management changes and worries that the dividend will be slashed, ahead of an investor gathering scheduled for Nov. 13. That’s the biggest one-month decline since the stock plunged 29.8% in February 2009, at the depths of the Great Recession. The stock also stretched its monthly losing streak to eight months, which would be the longest such streak since there is available data on FactSet back to January 1972. The stock has plunged 36.2% year to date, making it by far the worst performer this year in the Dow Jones Industrial Average, which has rallied 18.3% this year. GE is also the worst Dow performer on a one month, three month, six month and 12-month basis.

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Police in New York City have responded to reports of a shooting or vehicle collision in Lower Manhattan on Tuesday, the New York Times reported, citing a law enforcement official. A suspect has been taken into custody, the official said. There were reports that several people were dead. The Fire Department said officials responded after 3 p.m. to reports of casualties at Chambers and West Streets in the Tribeca neighborhood close to Stuyvesant High School.

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Oil prices climbed Tuesday, with global benchmark Brent crude notching another settlement at a more than two-year high and U.S. benchmark West Texas Intermediate crude ending the month with a 4.7% gain. Expectations that oil producers will extend their production-cut deal through next year have provided support for prices. Traders are also looking ahead to data on U.S. crude supplies, which are expected to show a decline for last week. December WTI crude rose 23 cents, or 0.4%, to settle at $54.38 a barrel on the New York Mercantile Exchange. On its expiration day, December Brent added 47 cents, or 0.8%, to end at $61.37 a barrel on ICE Futures Europe, with the contract up about 8% for the month.

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