Tag: stock market

Cardinal Health Inc. reported a third-quarter profit beat and revenue miss Monday premarket. Earnings for the latest quarter declined to $381 million, or $1.20 per share, from $386 million, or $1.17 per share in the year-earlier period. Adjusted earnings-per-share were $1.53, compared with the FactSet consensus of $1.46. Revenue rose to $31.8 billion from $30.7 billion, compared with the FactSet consensus of $32.3 billion. The company reaffirmed that its fiscal 2017 guidance is at the bottom of a previous range of $5.35 to $5.50, compared with the FactSet consensus of $5.36. Shares of Cardinal Health were inactive in premarket trade. Shares have declined 3.7% over the last three months, compared with a 4.6% rise in the S&P 500 .

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Dish Network Corp. reported first-quarter net earnings that declined to $376 million, or 76 cents a share, from $400 million, or 86 cents a share, in the same period a year ago. That beat the FactSet earnings-per-share consensus of 70 cents. Revenue slipped to $3.68 billion fro $3.83 billion, missing the FactSet consensus of $3.76 billion, as subscriber-related revenue fell more than expected. Net Pay-TV subscribers declined 143,000, compared with a decline of 23,000 a year ago. Net broadband subscribers fell by 25,000 to 555,000. The stock, which was still inactive in premarket trade, has run up 11% year to date, while the S&P 500 has gained 6.5%.

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Police killed the suspected gunman in a shooting Sunday at a San Diego apartment complex’s pool, according to media reports. A man shot seven people as a birthday party took place at the pool, and one of the victims has died, said a report from a local TV news channel, Fox 5 San Diego. Another man was injured as he broke his arm while running from the pool at the La Jolla Crossroads complex in the University City area, said a San Diego Union-Tribune report. Police have identified the gunman as Peter Selis, a 49-year-old resident at the complex.

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Sebastian Gorka, a controversial counterterrorism adviser to President Donald Trump, will soon leave his job, according to reports late Sunday. Both CNN and the Washington Examiner said Gorka will step down from his White House post in the coming days. A source told CNN that Gorka was “generating too much controversy.” Gorka is a former editor at Breitbart News, and is known for his fiery appearances on cable news shows, where he regularly warned of the threat of Islamic terrorism. Gorka has also been hounded by allegations of links to a Hungarian right-wing group with Nazi ties, and accused of faking his PhD. Gorka has denied those allegations.

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Rupert Murdoch’s 21st Century Fox and private equity firm Blackstone Group are in talks to form a joint bid to buy Tribune Media Co., according to a report by the Financial Times late Sunday. Their effort would compete with a bid by Sinclair Broadcast Group Inc. , which is reportedly offering Tribune more than $30 a share. Tribune Media owns a number of TV stations around the country as well as the WGN America cable network. Fox shares the same ownership as MarketWatch’s parent company, News Corp.

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North Korea fired another ballistic missile early Saturday local time that appears to have failed, South Korea’s Yonhap News Agency reported citing the Republic of Korea Joint Chiefs of Staff. The missile test comes amid heightened tensions on the Korean Peninsula with North Korea pursuing the development of intercontinental ballistic missile that could potentially reach the U.S. President Donald Trump has also taken a hard stance, promising stern action if the North Korean regime continues to threaten global peace with its nuclear weapons program.

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Fitbit Inc. said Friday an initial investigation into a Fitbit Flex 2 that allegedly exploded on a wearer’s wrist concluded that the company’s device didn’t malfunction, and that testing showed “external forces” had caused the damage. “We have not received any other complaints of this nature and we want to assure our customers that they can continue to enjoy their Flex 2 and all Fitbit products with confidence,” the company said. A Wisconsin woman had claimed her Flex 2 band exploded on her wrist, causing second-degree burns, and Fitbit launched an investigation earlier this week. Shares of Fitbit, which have lost more than 21% so far this year and 68% in the last 12 months, were up 0.4% in late trading Friday. The S&P 500 Index has gained 6.5% in 2017 and 15% in the past 12 months.

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Apple Inc. has asked California regulators to make changes in the state’s proposed policies on self-driving cars, according to a Reuters report Friday that cited a letter from the company. The company earlier this month joined a growing list of tech companies, car makers, and other ventures racing todevelop driverless cars and applying for testing their vehicles on California’s public roads. Earlier this week, Tesla Inc. and other companies asked the regulators to relax some of the state’s proposed rules for testing driverless cars, including allowing testing of vehicles without pedals or steering wheels.

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Oil prices settled with a modest gain on Friday, but fell for the month. Traders continued to weigh bullish prospects for an extension to the Organization of the Petroleum Exporting Countries production-cut deal against a bearish climb in U.S. output. June WTI crude rose 36 cents, or 0.7%, to settle $49.33 a barrel on the New York Mercantile Exchange. Prices were down about 2.5% from the March 31 settlement of the front-month May contract.

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Gold prices climbed on Friday, raising their monthly gain to roughly 1.3%, as weaker-than-expected first-quarter U.S. economic growth weighed on the dollar. Prices, however, ended the week about 1.6% lower as a rise in global equities from last Friday helped to dull safe-haven investment demand for the metal. June gold rose $2.40, or 0.2%, to settle at $1,268.30 an ounce for the session.

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