Tag: stock market

Amazon.com Inc. said Tuesday that it has launched Alexa voice shopping for the Prime Now two-hour delivery service in 30 cities. Prime Now ordering is available through a variety of Amazon devices, including the Echo and Amazon Tap. Once the minimum order value is reached, Alexa will choose a delivery slot. In select cities like Seattle, Columbus and Cincinnati, Alexa will also purchase beer, wine and spirits. Amazon shares are up 0.2% in premarket trading, and up 54.7% for the last year. The S&P 500 index is up 15.7% for the past 12 months.

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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Apple Inc. updated its iPad and iPhone offerings Tuesday, including a new iPad starting at $329 and featuring a brighter 9.7-inch Retina display. The $329 model iPad will have 32 gigabits of memory and Wi-Fi, while the $459 model with have 32GB, Wi-Fi and cellular. Apple also introduced RED special edition iPhone 7 and iPhone 7 Plus smartphones, which will be available in stores starting March 24. The phones will be available in 128GB and 256GB models starting at $749. Separately, Apple introduced its new free Clips app that allows users to create expressive videos, that can be shared through Apple’s Messages app, Facebook, Instagram and other social networks. Apple’s stock gained 0.5% in premarket trade, putting it on track to open at a record high. It has run up 22% year to date, while the Dow Jones Industrial Average has gained 5.8%.

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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Starbucks Corp. said Tuesday that it has launched a food menu that includes gluten-free and vegan options. The gluten-free smoked Canadian bacon breakfast sandwich made with an egg patty and reduced-fat cheddar cheese will be available at most stores. The sprouted grain bagel, which is topped with sunflower seeds, golden flax and other ingredients, is available at participating stores. And the Goodie Girl Mint Slims, a gluten-free chocolate mint cookie, is available at all stores. Other menu items include the Starbucks Organic Avocado Spread, now available nationwide, and lemon chiffon yogurt. Starbucks shares are up 0.8% in premarket trading, and down 5.6% for the past year. The S&P 500 index is up 15.7% for the last 12 months.

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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Lands’ End Inc. reported a fiscal fourth-quarter net loss that widened to $94.8 million, or $2.96 a share, from $39.5 million, or $1.23 a share, in the same period a year ago. Excluding non-recurring items, such as a $173 million one-time charge to write down the Lands’ End trade name, adjusted earnings per share came to 41 cents, beating the FactSet consensus of 35 cents. Revenue fell to $458.8 million from $473.5 million, just shy of the FactSet consensus of $459.4 million. The multichannel apparel seller said gross margin declined to 38.6% from 42.0%, as it wrote down $6.7 million worth of prior-season inventory from its Canvas by Lands’ End brand. The stock, which was still inactive in premarket trade, has run up 27% year to date, but was still down 28% over the past 12 months. In comparison, the S&P 500 has gained 6% so far this year and has rallied 16% the past 12 months.

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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Shipt, a membership-based delivery service for online groceries, announced Tuesday that it has partnered with Costco Wholesale Corp. in the Tampa metro area to deliver groceries, including perishable items. The service does not include apparel, furniture or electronics items. Shipt offers unlimited grocery deliveries for $99 per year, and services 17 million households in 35 markets, the company said. It plans to be in 50 markets and more than 30 million households by the end of the 2017. Tampa residents can try Shipt for free for two weeks and receive $15 off their first order. Shipt members in Tampa shop the grocery selection, choose a one-hour delivery window and pay online. Costco members will receive perks for shopping using Shipt, but non-members can also fill Costco orders. Costco shares are up 8.8% for the past year while the S&P 500 index is up 15.7% 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.

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Shares of General Mills Inc. fell 0.8% in premarket trade Tuesday, after the branded consumer foods company reported a fiscal third-quarter profit that beat expectations but sales that fell a bit short. Net earnings for the quarter to Feb. 26 came to $357.8 million, or 61 cents a share, compared with $361.7 million, or 59 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share were 72 cents, above the FactSet consensus of 71 cents. Revenue declined 5.2% to $3.79 billion from $4.00 billion, just below the FactSet consensus of $3.82 billion. The company attributed the sales decline to gaps in pricing and promotional activity in key U.S. businesses. North America revenue dropped 7.0% to $2.50 billion, and convenience stores and foodservice revenue declined 1.1% to $448.5 million. Looking ahead, the company expects fiscal 2017 adjusted EPS to rise 5% to 7% above last year’s $2.92; the FactSet consensus of $3.06 implied 4.8% growth. The stock has lost 2.4% year to date through Monday, while the S&P 500 has gained 6%.

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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Shares of Lennar Corp. were indicated up nearly 1% in premarket trade Tuesday, after the home builder beat fiscal first-quarter profit and sales expectation. Net income for the quarter to Feb. 28 fell to $130.8 million, or 56 cents a share, from $144.1 million, or 63 cents a share, in the same period a year ago, but was above the FactSet earnings-per-share consensus of 55 cents. Revenue grew to $2.34 billion from $1.99 billion, beating the FactSet consensus of $2.14 billion, as homebuilding revenue of $2.02 billion topped expectations of $1.95 billion. Home deliveries increased to 5,433 from 4,806. The average sales price of $365,000 was about the same as last year, while incentives offered to homebuyers rose to $22,700 per home from $21,600. The stock has soared 27% year to date through Monday, while the SPDR S&P Homebuilder ETF has climbed 10% and the S&P 500 has gained 6%.

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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PPG Industries Inc. is still eyeing a takeover of Akzo Nobel NV , preparing another bid for the Dutch paints and chemicals company after its first attempt failed earlier in March, according to Bloomberg. The financial details of a potential deal weren’t disclosed. Akzo Nobel on March 9 rejected a $22.1 billion takeover proposal from PPG, saying the offer “substantially undervalues” the company. PPG, however, called the bid an “attractive and comprehensive proposal.” A spokesperson from Akzo Nobel told MarketWatch that “we reacted to the initial proposal from PPG, but we haven’t heard anything subsequent to that.” A representative from PPG wasn’t immediately available to comment. Activist investor Elliott Management Corp., which has owned a stake in Akzo Nobel since 2016, is pushing the Dutch paint maker to engage with takeover talks with PPG, which faces local Dutch political opposition to the takeover. Shares of Akzo Nobel rose 3.3% in early Tuesday trade.

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Northern Irish politician Martin McGuinness has died at the age of 66, after suffering a rare heart disease, media reports said Tuesday. The influential Sinn Féin politician was a former IRA leader who became a key negotiator in the Northern Irish peace process, which resulted in the 1998 Good Friday Agreement. In January, he relinquished his role as deputy first minister in Northern Ireland in protest against an energy scandal, a move that triggered a “snap,” or out-of-cycle, election.

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Wal-Mart Stores Inc. said Monday it was launching a Silicon Valley-based innovation center to identify future trends in retail and commerce. The standalone incubator, known as Store No. 8, will invest in and work with venture capitalists, entrepreneurs, early-stage startups and academics, focusing on fields including robotics, augmented reality, machine learning and artificial intelligence, according a Wal-Mart spokesman. The project was announced by Marc Lore, chief executive of Wal-Mart’s e-commerce operations, at the ShopTalk conference in Las Vegas. The new investment business is part of a broader effort to capture a larger share of the e-commerce market, which began with last year’s acquisition of Jet.com, which Lore founded. Wal-Mart has been on an e-commerce shopping spree so far in 2017, acquiring ShoeBuy in January, Moosejaw in February and Modcloth last week.

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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