Tag: stock market

Eli Lilly & Co. reported Tuesday net income of $555.6 million, or 53 cents a share, down from $778.0 million, or 73 cents a share, in the same period a year ago. Excluding non-recurring items, including asset repairment charges and acquired in-process research and development charges, adjusted earnings per share came to $1.05, above the FactSet consensus of $1.03. Revenue rose 9% to $5.66 billion from $5.19 billion, beating the FactSet consensus of $5.52 billion, as revenue from its diabetes products collectively grew 39%. Among the drug maker’s biggest drug sellers, sales of Humalog, Alimta, Cymbalta and Zyprexa beat expectations, while Cialis sales fell short. The company raised its 2017 adjusted EPS outlook to $4.15 to $4.25 from $4.10 from $4.20. The stock, which was still inactive in premarket trade, has gained 2.9% over the past three months, while the SPDR S&P Pharmaceuticals ETF fell 3.9% and the S&P 500 has gained 3.9%.

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.

…read more

From:: Stock Market News

Commerzbank AG shares climbed Tuesday following a report the Frankfurt-based lender has hired financial advisers as it prepares for possible takeover bids. The bank has been working with Goldman Sachs and Rothschild to assess possible M&A scenarios, the Financial Times reported. Shares in Germany second-largest bank rose as much as 4% during morning trade, and have climbed roughly 64% on a year-to-date basis.

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.

…read more

From:: Stock Market News

AMS AG on Tuesday posted a rise in third-quarter group revenue, with sales coming in at €262.6 million, up 79% from €146.7 million in the year-ago period. Adjusted earnings were €34.8 million compared with €28 million a year ago. Gross margin during the quarter was 41%, down from 55% logged in the same quarter last year. AMS forecast “very strong” sequential sales growth, with fourth-quarter revenue expected at €440 million to €480 million. Shares of AMS jumped more than 20% during Tuesday’s European trading session.

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.

…read more

From:: Stock Market News

Amazon Studios is seeing the departure of a third high-ranking executive in a month, according to the Hollywood Reporter, with Joe Lewis, head of comedy and drama development, on his way out just days after the resignation under pressure of programming chief Roy Price. Price faced allegations of sexual harassment and was serving a suspension at the time he resigned. Separately, Morgan Wandell, who had served as head of international series at the Amazon unit, left for a similar post with Apple , the trade publication noted.

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.

…read more

From:: Stock Market News

Facebook Inc. said in a blog post Monday that it does not plan to push publishers out of its main product, amid tests of a new approach that in some countries exiled all such posts from Facebook’s News Feed. Several reports about tests in six countries that split posts from pages out of News Feed and into a new feed called Explore focused on the fact that publishers would have to pay to advertise to get their stories into the News Feed if Facebook made the change globally and permanently. “There is no current plan to roll this out beyond these test countries or to charge pages on Facebook to pay for all their distribution in News Feed or Explore,” wrote Adam Mosseri, who leads Facebook’s News Feed product. “Unfortunately, some have mistakenly made that interpretation – but that was not our intention.” Facebook stock closed down 2.1% Monday but got a 0.2% boost in after-hours trading.

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.

…read more

From:: Stock Market News

Tenet Healthcare Corp. on Monday said Trevor Fetter has stepped down as chief executive and resigned from the board effective immediately. The company had said in August that Fetter would resign by March 15 or when a successor had been found. Instead, the board named Executive Chairman Ronald Rittenmeyer as CEO while the company continues to seek a permanent replacement. It is not clear what precipitated Fetter’s exit. Shares of Tenet were flat in the extended session after closing at $14.69.

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.

…read more

From:: Stock Market News

Shares of Whirlpool Corp. fell more than 7% late Monday after the appliance maker reported third-quarter per-share earnings and sales below expectations and said raw-materials inflation and an “unfavorable” price mix leads it to downgrade its views on full-year profits. Whirlpool said it earned $276 million, or $3.72 a share, in the quarter, compared to $238 million, or $3.10 a share, in the year-ago period. Adjusted for one-time items, the company reported earnings of $3.83 a share, compared with $3.66 a share a year ago. Sales rose to $5.4 billion from $5.2 billion a year ago. Analysts surveyed by FactSet had expected Whirlpool to report adjusted earnings of $3.93 a share on sales of $5.5 billion. Whirlpool said it expects GAAP earnings between $11.10 to $11.40 a share for the full year, and adjusted earnings between $13.60 and $13.90. The analysts surveyed by FactSet expect full-year adjusted earnings of $14.61 a share. Whirlpool stock ended the regular trading day up less than 0.1%.

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.

…read more

From:: Stock Market News

Rambus Inc. shares traded between slight gains and losses in the extended session Monday after the chip maker’s results topped Wall Street estimates. Rambus shares, which traded up as much as 3% and down as much as 3%, were last up 0.8% at $13.86 after hours. The company reported third-quarter net income of $7.7 million, or 7 cents a share, compared to $4.5 million, or 4 cents a share, in the year-ago period. Adjusted earnings were 19 cents a share. Revenue rose to $99.1 million from $89.9 million in the year-ago period. Analysts surveyed by FactSet had estimated 17 cents a share on revenue of $99 million. For the fourth quarter, Rambus estimates earnings of 16 cents to 22 cents a share on revenue of $98 million to $104 million. Analysts expect earnings of 17 cents a share on revenue of $100.5 million.

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.

…read more

From:: Stock Market News

Impax Laboratories Inc. shares rose in the extended session Monday after the drug maker said the Food and Drug Administration approved its generic version of Sanofi SA’s Renvela. Impax shares advanced 5.7% to $21.50 after hours. The company said sales of the sevelamer carbonate, the generic name for Renvela, are reflected in its earnings outlook of 55 cents to 70 cents a share this year. Analysts surveyed by FactSet expect earnings of 70 cents a share.

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.

…read more

From:: Stock Market News

U.S. stock market indexes fell on Monday to pause from their streak of record highs as investors waded through a heavy run of corporate earnings. All three benchmark equity indexes closed at all-time highs on Friday and hit intraday records early Monday. The S&P 500 fell 10 points, or 0.4%, to 2565. The Dow Jones Industrial Average shed 54 points, or 0.2%, to 23275. The Nasdaq Composite Index retreated 42 points, or 0.6%, to 6587.

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.

…read more

From:: Stock Market News