Tag: stock market

President Donald Trump’s replacement for national security adviser Michael Flynn has rejected the offer, according to media reports late Thursday. Vice Admiral Robert Harward, a former Navy SEAL, was offered the job by Trump following the resignation of Flynn because of his controversial communications with Russian officials. CBS News reported Harward turned down the job because he and “the administration had a dispute over staffing the security council.” The Financial Times reported that Harward turned down the job because of his perceived conflict “between the call of duty and the obvious dysfunctionality” of the White House. Both CBS and FT cited two unnamed sources close to the situation.

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Shares of Nu Skin Enterprises Inc. sank in Thursday’s extended session after the skin-care products company reported lower revenue in most markets except Europe, Middle East and Africa. Nu Skin said its fourth-quarter earnings rose to $38.2 million, or 69 cents a share, from $35.8 million, or 62 cents a share, a year earlier. The result includes 10 cents a share tax charge stemming from a regulatory change. Revenue fell to $531.3 million from $572.2 million. Analysts surveyed by FactSet had forecast earnings of 79 cents a share and revenue of $561 million. The company said it will name a successor to replace Chief Financial Officer Ritch Wood, who is slated to take over as chief executive later this year, but did not elaborate further. Separately, the company hiked its quarterly dividend to 36 cents from 35.5 cents a share. Nu Skin skidded more than 8% after hours.

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Arista Networks Inc. shares rallied in the extended session Thursday after the cloud-networking software company’s quarterly results and outlook topped Wall Street estimates. Arista shares surged 9.3% to $109.48 after hours. The company reported adjusted fourth-quarter earnings of $1.04 a share on revenue of $328 million. Analysts surveyed by FactSet had forecast earnings of 82 cents a share on revenue of $317.1 million. For the first quarter, Arista sees revenue of $320 million to $330 million, while analysts have estimated $304.7 million. Arista’s results come after its larger competitor Cisco Systems Inc. reported healthy growth in software revenue late Wednesday.

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Shares of WebMD Health Corp. were halted late Thursday after the online company said it had started to look into “strategic alternatives,” which could include selling itself or part of itself. WebMD has no timeline for the process and has made no firm decision, the New York-based company said in a statement. The stock ended the regular trading day up 0.4%.

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The Dow Jones Industrial Average closed at a record for a sixth session in a row while the broader market faltered on weak energy and consumer discretionary shares. An announcement by President Donald Trump that a new health plan to replace the Affordable Care Act is likely by March ahead of his proposed tax reform also dampened sentiment. Investors had been bidding up stocks in anticipation of Trump’s tax cuts which are widely viewed as pro-business and supportive of the economy. The Dow rose 8 points to finish at 20,620. The S&P 500 fell 2 points to close at 2,347 while the Nasdaq Composite Index dropped 4 points to close at 5,814.

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Oil prices settled modestly higher Thursday, as a report that the Organization of the Petroleum Exporting Countries may extend its production cut agreement with non-OPEC members, helped prices rebound from earlier losses. The news from Reuters was seen as a “bullish development as traders were beginning to have doubts about future compliance among those who agreed to cut production, especially in the face of rising U.S. output,” said Tyler Richey, co-editor of The 7:00’s Report. March West Texas Intermediate crude rose 25 cents, or 0.5%, to settle at $53.36 a barrel on the New York Mercantile Exchange.

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WASHINGTON (MarketWatch) — President Donald Trump said Thursday his administration would be submitting a health care proposal in March. Trump campaigned on repealing and replacing the Affordable Care Act. He said a health care plan would come before tax reform.

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From:: Stock Market News

WASHINGTON (MarketWatch) — President Donald Trump said Thursday his administration would be submitting a health care proposal in March. Trump campaigned on repealing and replacing the Affordable Care Act. He said a health care plan would come before tax reform.

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Gold futures climbed Thursday to finish at their highest level in more than three months. Weakness in the U.S. dollar and equities and a decline in Treasury yields combined to lift investment demand for the metal. April gold rose $8.50, or 0.7%, to settle at $1,241.60 an ounce, the highest finish for a most-active settlement since Nov. 10, according to FactSet data.

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WASHINGTON (MarketWatch) — President Donald Trump said Thursday he has asked the Justice Department to probe leaks from his administration to the media. “We are looking into that very seriously. It’s a criminal act,” Trump said at a White House news conference.

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