Tag: stock market

Dunkin’ Brands Group Inc. on Thursday reported a larger-than-expected rise in adjusted profit, but missed on revenue forecasts. The fast-food company said net income rose to $47.5 million in the first quarter, or 51 cents a share, up from $37.2 million, or 40 cents a share, in the year-ago period. Adjusted profit climbed to 54 cents a share, up from 44 cents a year ago and beating FactSet estimates of 48 cents. Revenue inched up to $190.7 million, from $189.8 million. Analysts had expected revenue of $192.3 million. Dunkin shares were down 1.5% in thin premarket trade.

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Queen Elizabeth II’s husband, the Duke of Edinburgh, is stepping down from public life and will stop carrying out public engagements from this fall, Buckingham Palace said in a statement on Thursday morning. The 95-year old Prince Philip will still attend previously scheduled events between now and August. “Thereafter, The Duke will not be accepting new invitations for visits and engagements, although he may still choose to attend certain public events from time to time,” Buckingham Palace said. Earlier on Thursday, news that the Queen had called in all her staff for a meeting whirred the rumor mill into action. Some had speculated the Queen would abdicate, while others guessed she would announce a royal engagement or discuss the health of her husband.

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Tableau Software Inc. shares rallied in the extended session Wednesday after the data analytics company reported a narrower-than-expected loss for the quarter. Tableau shares surged 8% to $59.10 after hours. The company reported an adjusted fiscal first-quarter loss of 3 cents a share on revenue of $199.9 million. Tableau had forecast a loss of 8 cents to 15 cents for the quarter, according to FactSet data. Analysts surveyed by FactSet had forecast a loss of 11 cents a share on revenue of $200.9 million.

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Five9 Inc. shares rallied in the extended session Wednesday after the cloud-computing software company topped Wall Street estimates for the quarter. Five9 shares surged 12% to $20.20 after hours. For the first quarter, the company reported breakeven per-share results on revenue of $47 million. Analysts surveyed by FactSet had estimated a loss of 4 cents a share on revenue of $44.7 million. For the second quarter, Five9 forecast a loss of 2 cents to 4 cents a share on revenue of $45.3 million to $46.3 million, while analysts had estimated a loss of 3 cents a share on revenue of $44.8 million.

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Tailored Brands Inc. shares jumped nearly 8% in late-Wednesday trading after the company updated its fiscal 2017 guidance. The revision was due to earlier news that it had ended its tuxedo rental partnership with Macy’s Inc. . Tailored Brands now expects to report one-time charges of about $17.0 million. The company forecasts earnings per share in the range of $1.37 to $1.67, down from previous guidance of $1.45 to $1.75. Adjusted EPS is expected to be in the range of $1.60 to $1.90. The FactSet consensus is for EPS of $1.72. Tailored Brands shares are down 50.7% for the year so far while the S&P 500 index is up 6.7% for the period.

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Macy’s Inc. and Tailored Brands Inc. announced Wednesday that they are winding down their tuxedo rental license agreement, established with Men’s Wearhouse on June 9, 2015. The Tuxedo Shops will take new reservations until June 1, 2017, with operations ending by July 14, 2017. All customers with rentals after this period will be offered the option to transfer the reservation to a nearby Men’s Wearhouse or Jos. A Bank. In March, Tailored Brands reported a $14 million charge after expecting startup losses of $10 million. The increase was due to missing the bulk of wedding season, said Tailored Brands Chief Executive Douglas Ewert on the earnings call. Macy’s shares are down 0.2% in late-Wednesday trading, and down 26.2% for the past year. Tailored Brands is up 7.1% in after hours trading, but down 26.4% for the last year. The S&P 500 index is up 15.7% for the last 12 months.

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Qorvo Inc. shares declined in the extended session Wednesday after the wireless components provider’s outlook fell short of Wall Street estimates. Qorvo shares fell 4.1% to $65.28 after hours. The company forecast fiscal first-quarter earnings of 70 cents to 90 cents a share on revenue of $610 million to $650 million. Analysts surveyed by FactSet had estimated earnings of $1.02 a share on revenue of $698.4 million. For the fiscal fourth quarter, the company reported adjusted earnings of 85 cents a share on adjusted revenue of $624 million, while analysts had estimated 81 cents a share on revenue of $632 million.

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Viacom Inc. shares were down more than 7% in afternoon trade on Wednesday, leading the broader media sector in an afternoon sell off. Following Viacom, shares of AMC Networks Inc. were down nearly 6% and 20th Century Fox Inc. shares fell more than 5%. Shares of Walt Disney Co. and Comcast Corp. were down more than 2%. There was no clear indication as to why media stocks endured a broad sell off. Earlier on Wednesday Hulu, which is jointly owned by Disney, Fox, Comcast and Time Warner, launched the beta version of its live TV service and Akamai Media reported poor revenue outlook due to continued weakness in its media business. Viacom will report second-quarter earnings on Thursday and is expected to post lower year-over-year profit at 59 cents per share with slightly improved revenue of $3.03 billion, according to FactSet. Shares of Viacom have gained more than 12% in the year to date, while declining nearly 5% in the last 12 months. By comparison, the S&P 500 index has gained nearly 7% in the year and 16% during the prior 12-month period.

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Exxon Mobil Corp. disclosed Wednesday that the Department of Justice (DOJ) issued a notification concerning potential enforcement and possible settlement to its ExxonMobil Oil Corp. (EMOC) unit regarding potential violations of the Clear Air Act, and of the Environmental Protection Agency’s (EPA) Chemical Accident Prevention provisions. The DOJ and EPA are seeking $100,000 in penalties and corrective actions. In a quarterly filing, Exxon said the DOJ and EPA contend that EMOC failed to identify hazards, failed to design a safe facility and failed to mitigate the consequences of a claimed accidental release related to a flash fire at the Beaumont, Texas refinery in April 2013. The stock, which rose 1.2% in afternoon trade amid a rise in oil prices, has lost 8% year to date, while the Dow Jones Industrial Average has gained 6.1%.

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Oil prices finished with a slight gain on Wednesday, finding support following losses in the past two trading sessions. Data from the U.S. Energy Information Administration showed a weekly decline in domestic crude supplies, which was smaller than expected, and demand for gasoline over the past month remained weak. June WTI crude rose 16 cents, or 0.3%, to settle at $47.82 a barrel on the New York Mercantile Exchange.

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