Tag: stock market

SeaWorld Entertainment Inc. reported Tuesday a fourth-quarter net loss that widened to $20.4 million, or 24 cents a share, from $11.9 million, or 14 cents a share, in the same period a year ago. The FactSet consensus for per-share losses was 19 cents. Revenue slipped 0.8% to $265.5 million, but topped the FactSet consensus of $259.0 million. Attendance declined 2.7% to 4.3 million, in line with the FactSet consensus, but total revenue per capita rose 2.0% to $62.3 million, beating expectations of $60.9 million. In-park per capita spending, which includes food and merchandise, grew 2.9% to $24.75 million. “Looking ahead to 2018 we are excited to see positive trends,” said Interim Chief Executive John Reilly. “Year-to-date attendance and season pass sales to date have increased year-over-year, led by our SeaWorld San Diego park which is rebounding from a difficult 2017.” The stock, which was still inactive in premarket trade, has soared 45.9% over the past three months, while the S&P 500 has gained 6.9%.

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Shares of Akorn Inc. sank 34% in premarket trading on Tuesday, after German-based Fresenius SE said it was conducting a probe into possible data breaches at the U.S. generic-drugs manufacturer. The probe could hamper a deal — valued at more than $3.7 billion — by Fresenius last year to buy Akron. Fresenius made the statement late Monday, triggering a slide in Akorn shares, which continued into Tuesday. In a statement, Akorn said that it was also investigating the possible breaches related to product development at its company. “To date, the company’s investigation has not found any facts that would result in a material impact on Akorn’s operations and the company does not believe this investigation should affect the closing of the transaction with Fresenius,” said Akorn. Shares of Fresenius rose 1.7% in Frankfurt.

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European authorities will decide during the first half of 2018 whether to approve German chemicals maker Bayer AG’s planned $63.5 buyout of Monsanto Co. , the EU’s Competition Commissioner told CNBC on Monday. The regulatory body’s decision is expected on April 5th after being postponed twice and suspended four other times. “We have a legal deadline that we have to meet,” Margrethe Vestager, the EU’s competition commissioner, told CNBC when was asked if another delay could take place. Earlier this month, Bayer said it made further and “very significant” concessions to European regulators as it seeks to wrap up the deal. Bayer will release fourth- quarter results on Wednesday.

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Pegasystems Inc. shares rose in the extended session Monday after the customer-engagement software company’s results and outlook topped Wall Street estimates. Pegasystems shares surged 9% after hours. The company reported a fourth-quarter loss of $3.7 million, or 4 cents a share, compared with a profit of $8.7 million, or 11 cents a share, in the year-ago period. Adjusted earnings were 27 cents a share. Revenue rose to $239.5 million from $199.6 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 14 cents a share on revenue of $202.2 million. For the year, Pegasystems estimates adjusted earnings of about $1.20 a share on revenue of about $950 million. Analysts had forecast earnings of 78 cents a share on revenue of $885.6 million.

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Shares of Tenet Healthcare Corp. jumped 10% late Monday after the company reported fourth-quarter revenue above expectations and raised its outlook for 2018. The company also reported lower-than-expected provisions for unpaid accounts. Tenet reported a loss of $229 million, or $2.27 a share, in the quarter, compared with a loss of $79 million, or 79 cents a share, in the fourth quarter of 2016. Net operating revenue reached $4.98 billion, from $4.86 billion a year ago. Analysts polled by FactSet had expected GAAP revenue of $1.20 a share on revenue of $4.87 billion. The company said it expects revenue between $17.9 billion to $18.3 billion in 2018, and adjusted diluted earnings from continuing operations of 73 cents a share to $1.07 a share for the year. The company raised the midpoint of its previous 2018 adjusted earnings before interest and other items range by $25 million to reflect higher expectations for its subsidiary Conifer and additional Medicaid reimbursements, among other factors. Tenet’s provision for doubtful accounts was $325 million in the fourth quarter, compared to expectations of $368 million, according to FactSet.

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Palo Alto Networks Inc. shares got a boost from already-record share prices Monday afternoon after the security-software company reported an earnings beat. Palo Alto Networks reported a net loss of $34.9 million on revenue of $542.4 million in its fiscal second quarter, as sales grew from $422.6 million the year before. After adjusting for stock-based compensation and other effects, the company claimed earnings of 97 cents a share, with an 11 cents-per-share boost from the new tax law, up from 63 cents a share a year ago. Analysts on average expected adjusted earnings of 79 cents a share, after the company projected 78 cents to 80 cents a share, on revenue of $525 million, according to FactSet. The company also increased its full-year projections, which now call for revenue in the range of $2.19 billion to $2.22 billion; billings in the range of $2.72 billion to $2.77 billion; and adjusted profit in the range of $3.84 to $3.91 a share. After logging a 52-week closing high of $169.32 Monday, shares jumped more than 6% in late trading immediately following the release of earnings.

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Palo Alto Networks Inc. shares got a boost from already-record share prices Monday afternoon after the security-software company reported an earnings beat. Palo Alto Networks reported a net loss of $34.9 million on revenue of $542.4 million in its fiscal second quarter, as sales grew from $422.6 million the year before. After adjusting for stock-based compensation and other effects, the company claimed earnings of 97 cents a share, with an 11 cents-per-share boost from the new tax law, up from 63 cents a share a year ago. Analysts on average expected adjusted earnings of 79 cents a share, after the company projected 78 cents to 80 cents a share, on revenue of $525 million, according to FactSet. The company also increased its full-year projections, which now call for revenue in the range of $2.19 billion to $2.22 billion; billings in the range of $2.72 billion to $2.77 billion; and adjusted profit in the range of $3.84 to $3.91 a share. After logging a 52-week closing high of $169.32 Monday, shares jumped more than 6% in late trading immediately following the release of earnings.

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.

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From:: Stock Market News

Palo Alto Networks Inc. shares got a boost from already-record share prices Monday afternoon after the security-software company reported an earnings beat. Palo Alto Networks reported a net loss of $34.9 million on revenue of $542.4 million in its fiscal second quarter, as sales grew from $422.6 million the year before. After adjusting for stock-based compensation and other effects, the company claimed earnings of 97 cents a share, with an 11 cents-per-share boost from the new tax law, up from 63 cents a share a year ago. Analysts on average expected adjusted earnings of 79 cents a share, after the company projected 78 cents to 80 cents a share, on revenue of $525 million, according to FactSet. The company also increased its full-year projections, which now call for revenue in the range of $2.19 billion to $2.22 billion; billings in the range of $2.72 billion to $2.77 billion; and adjusted profit in the range of $3.84 to $3.91 a share. After logging a 52-week closing high of $169.32 Monday, shares jumped more than 6% in late trading immediately following the release of earnings.

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The Dow Jones Industrial Average Monday afternoon was climbing sharply higher, supported by components Boeing Co. and 3M Co. Shares of Boeing Co. and 3M were up around 2%, or more, adding almost 100 points to the price-weighted Dow . A $1 move in any one of the Dow’s 30 components equates to a 6.89-point swing in the average. The Dow was most recently up 414 points, or 1.6%, at 25,721, putting the gauge 3.4%, or about 895 points, shy of its all-time peak hit Jan. 26 at 26.616.71. Stock benchmarks have moved briskly higher since slipping into correction territory on Feb. 8, defined as a drop of at least 10% from a recent top. The S&P 500 index was up 1.2% at 2,778, about 3.3% shy of its all-time high at 2,872.87, while the Nasdaq Composite Index was 1.2% short of its recent peak at 7,505.77, trading up 1.1% at 7.415 on the day.

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Oil prices settled higher Monday, with U.S. benchmark crude up for a third session in a row. The recent shutdown of an oil field in Libya helped provide support as traders awaited this week’s update on U.S. crude supplies following the unexpected decline reported a week earlier. April WTI crude rose 36 cents, or 0.6%, to settle at $63.91 a barrel on the New York Mercantile Exchange.

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