Tag: stock market

Starbucks Corp.’s latest limited-time drink offer, the Crystal Ball Frappuccino, may have fallen short on social media mentions, according to Stifel analysts. The Crystal Ball Frappuccino, which was offered in the U.S., Canada and Mexico from March 22 through March 26, was creme based, made with peach flavor and turquoise sparkles. The colorful beverage drove about an incremental 0.4% of the social media mentions for the quarter, compared with an incremental 6.5% of social media mentions for the Unicorn Frappuccino during the third quarter of 2017.”Inclement weather in several U.S. cities likely contributed to some of the softness, but limited-time offer frappuccinos appear to be losing some of their appeal as well,” analysts led by Chris O’Cull wrote in a note. “The chilly reception of the Crustal Ball demonstrates the need for hte company to revamp the frappuccino happy hour promotion.” Stifel rates Starbucks shares hold with a $58 price target. Starbucks shares are up 1% for the past year while the S&P 500 index is up 13.5% for the period.

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. equity markets opened slightly higher on Tuesday, extending sharp gains from the previous session, as concerns about global trade policy continued to fade. The Dow Jones Industrial Average rose 54 points, or 0.2%, to 24,260. The S&P 500 index gained 5 points, or 0.2% to 2,663. Meanwhile the Nasdaq Composite advanced 25 points, or 0.3% to 7,244. Among the best performers on the S&P 500, Red Hat Inc.’s stock jumped after the software company posted better-than-expected quarterly results late Monday.

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

Aetna Inc. will automatically pass along drug rebates to a portion its members starting in 2019, benefiting an estimated three million individuals, the company said on Tuesday. The policy, which will be applied to Aetna’s commercial fully insured plan members, follows a similar move by UnitedHealth Group Inc. earlier this month. Aetna said it had previously passed “the majority of rebates” to plan sponsors and their employees through lower premiums, but is making the change in the hope that “additional transparency will encourage [drug] companies to rationalize their prices and end the practice of annual double-digit price increases,” Chief Executive Mark Bertolini said. Drug rebates have become a focus of criticism in light of reports and research showing that health insurers and pharmacy middlemen don’t always pass those savings along to consumers, especially consumers with high-deductible health plans. Aetna shares rose 0.5% in premarket trade Tuesday. Shares have dropped 5.6% over the last three months, compared with a 0.9% decline in the S&P 500 .

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

Herc Holdings Inc. said Tuesday Chief Financial Officer Barbara Brasier will retire, effective April 30, for personal reasons, after about 2 1/2 years with the company. The equipment rental company said Chief Accounting Officer Mark Humphrey will serve as interim CFO until a replacement is found. Brasier joined Herc in November 2015 from Mondelez International Inc. . Herc shares, which were still inactive in premarket trade, have rallied 5.7% over the past three months while the S&P 500 has lost 0.9%.

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

JA Solar Holdings Co. Ltd. said Chief Financial Officer Herman Zhao has resigned, effective Tuesday, to pursue other interests. The Beijing-based solar power products maker said there are not issues involving financial statement, internal controls or reporting procedures that led to Zhao’s departure. Zhao was appointed CFO in December 2013. “We respect his decision and wish him the very best in his future endeavors,” said Chief Executive Baofang Jin. The stock, which was still inactive in premarket trade, has lost 7.7% over the past three months, while the S&P 500 has slipped 0.9%.

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

Francesca’s Holdings Corp. shares sank 5.8% in Tuesday premarket trading after it reported a 15% fourth-quarter same-store sales decline and gave weak guidance. Net income totaled $3.7 million, or 10 cents per share, down from $14.6 million, or 39 cents per share, for the same period last year. Adjusted EPS was 20 cents. Revenue totaled $138.5 million, down from $146.3 million last year. Same-store sales dropped 15% for the quarter, which the company blamed on traffic declines and the merchandise’s failure to resonate with customers. The FactSet consensus was for EPS of 19 cents, sales of $138.0 million, and a same-store sales decline of 5.5%. The apparel and accessories retailer expects first-quarter sales in the range of $100 million to $103 million, a same-store sales decrease of 13% to 15% and a loss per share in the range of 10 cents to 13 cents. The FactSet consensus is for sales of $111.1 million, a same-store sales decline of 5%, and EPS of 14 cents. Francesca’s shares are down nearly 70% for the past year while the S&P 500 index is up 13.5% for the period.

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 Lam Research Corp. are up 2.1% in premarket trading Tuesday after Mizuho analyst Vijay Rakesh initiated coverage of the stock with a buy rating and a $250 price target. “The best is probably yet to come as we believe 2019 could see multiple new mega-fabs and potential China spend,” Rakesh wrote. He has an upbeat outlook on growth in wafer fabrication equipment (WFE) given heightened memory spending. Lam is “benefitting from increasing capital intensity in NAND and DRAM and increased 10nm logic spend,” Rakesh wrote. Shares of Lam Research closed up 6.1% in Monday’s session and are up 68% over the past 12 months, compared with a 14% gain for the S&P 500 .

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

Australia on Tuesday announced plans to expel two Russian diplomats, matching the moves made by the U.S., U.K. and other allies that are part of a coordinated response to the presumed Russian attack on a spy on British soil. “Two Russian diplomats identified as undeclared intelligence officers will be expelled by the Australian government for actions inconsistent with their status, pursuant to the Vienna Conventions,” Prime Minister Malcolm Turnbull said, according to multiple published reports. Turnbull also blasted the March 4 attack as “a reckless assault on the sovereignty of nations.” The U.S., Canada and more than a dozen European countries ejected scores of Russian diplomats and intelligence officers on Monday, in a coordinated action that deepens the breach between Moscow and the West. The U.S. alone will eject 60 Russians believed to be intelligence officers.

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 futures pointed to more gains for markets Tuesday, as concerns about a global trade war continued to dissipate. Dow Jones Industrial Average futures rose 122 points, or 0.5%, to 24,313, while S&P 500 futures gained 11.75 points, or 0.4%, to 2,670.75. Nasdaq-100 futures added 37.75 points, or 0.6%, to 6,810.50. All three major benchmarks logged their best one-day gains since August 2015 on Monday, with the Dow climbing 669.40 points. Those gains were on the heels of the biggest weekly decline in more than two years. Stocks also saw sizeable gains across Asia, led by a 2.3% gain for the Nikkei 225 index . Across other assets, gold prices slipped modestly, while oil prices rose and the ICE Dollar Index was flat.

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

Novartis AG said Tuesday that has entered into an agreement to sell its 36.5% stake in a consumer-healthcare venture with GlaxoSmithKline PLC to the pharmaceutical group for $13 billion in cash. The sale will allow Novartis to focus on its core business, the company said in a press release. “This will strengthen our ability to allocate capital to grow our core businesses, drive shareholder returns, and execute value-creating bolt-on acquisitions as we continue to build the leading medicines company, powered by digital and data,” said Vas Narasimhan, CEO of Novartis. The venture was originally formed in 2015.

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