Tag: stock market

Dr Pepper Snapple Group Inc. said Tuesday it had net income of $1.65 million, or 90 cents a share, in the fourth quarter, down from $185 million, or 97 cents a share, in the year-earlier period. Excluding charges related to the extinguishment of debt and the acquisition of drinks company Bai, adjusted EPS came to $1.04, below the FactSet consensus of $1.06.. Sales rose to $1.578 billion from $1.546 billion, ahead of the FactSet consensus of $1.573 billion. The company said it expects 2017 sales to grow about 4.5% and for adjusted EPS to range from $4.44 to $4.54. The current FactSet consensus is for 2017 EPS of $4.74. Shares were not yet active premarket, but have gained 1.7% in the last 12 months, while the S&P 500 has gained 25%.

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Shares of T-Mobile US Inc. rose 2.6% in premarket trade on Tuesday after the company reported improved fourth-quarter earnings that were above Wall Street expectations. Net income for the fourth quarter came in at $390 million, or 45 cents per share, compared with $297 million, or 34 cents per share during the same period a year ago. FactSet’s consensus was for per-share earnings of 28 cents. T-Mobile revenue hit $10.18 billion in the quarter, compared with last year’s $8.25 billion in the same quarter. FactSet’s consensus on revenue was for $9.86 billion. T-Mobile said it added a total 2.1 million customers in the quarter. In 2017, T-Mobile said it expects to add between 2.4 million and 3.4 million post paid customers. Shares of T-Mobile are up more than 73% in the trailing 12-month period, outperforming the S&P 500 Index , which is up nearly 25%.

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Aetna Inc. and Humana Inc. announced Tuesday a mutual agreement to terminate their merger deal, after a U.S. District Court granted the Department of Justice’s request to block the $34 billion deal announced in July 2015. As a result, Aetna will pay Humana a $1 billion merger termination fee. Aetna will also terminate its agreement to sell certain Medicare Advantage assets to Molina Healthcare Inc. , and will pay Molina the agreed upon fees. “While we continue to believe that a combined company would create greater value for health care consumers through improved affordability and quality, the current environment makes it too challenging to continue pursuing the transaction,” said Aetna Chief Executive Mark Bertolini. Shares of Aetna and Humana were still inactive in premarket trade. Aetna’s stock has lost 1.6% over the past three months, while Humana shares have gained 4% and the S&P 500 has climbed 7.6%.

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The chief executive officers of major U.S. retailers plan to travel to Washington, D.C. for a meeting Wednesday to fight a House Republican plan to impose a border adjustability tax, Reuters reported Tuesday. The heads of eight retail companies including Target Inc. , Gap Inc. , Best Buy Co. , AutoZone Inc. will meet with Kevin Brady, chairman of the House Ways and Means Committee and Senate members, according to sources familiar with the plan. Those people said it wasn’t clear if the retail bosses would meet with U.S. President Donald Trump as well. Retailers have voiced opposition to the proposal to tax imported goods by 20%, saying it will cut into profits and only increase prices for consumers. Spokespersons for Best Buy, AutoZone, Gap and Target could not immediately be reached for comment.

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Amkor Technology Inc. shares fell in the extended session Monday after the microchip packaging and services company’s quarterly revenue and outlook fell below Wall Street estimates. Amkor shares dropped 10% to $9.40 a share after hours. The company forecast revenue of $860 million to $940 million for the first quarter. Analysts surveyed by FactSet expect $964.6 million. For the fourth quarter, Amkor reported earnings of 42 cents a share on revenue of $1.02 billion. Analysts had estimated earnings of 28 cents a share on revenue of $1.04 billion.

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WASHINGTON (MarketWatch) — National Security Adviser Michael Flynn has apologized to Vice President Mike Pence over his discussions with the Russian ambassador to the U.S., the Associated Press reported, citing an administration official. Pence said in televised interviews that Flynn had not discussed sanctions with the Russian envoy, but Flynn now has told the White House that the topic may have come up, the AP reports. Pence relied on the initial Flynn account in his interviews, the AP says. Separately, White House Counselor Kellyanne Conway told MSNBC that Flynn has the “full confidence” of President Donald Trump.

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IDT Inc. said late Monday it has agreed to buy GigPeak Inc. for $3.08 a share, or about $250 million in cash. That would represent a premium of 22% to GigPeak’s stock closing price on Friday, the companies said in a statement. That acquisition would provide IDT with a “highly regarded” optical interconnect product and technology business that is complementary to IDT’s real-time interconnect products, the companies said. Shares of IDT fell 3% in late trading after ending the regular session down 0.7%. GigPeak’s shares rose 12% after hours; the stock ended the regular session up 7.5%.

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Apple Inc.’s stock returned Monday to record highs for the first time in two years, extending a run of gains following fiscal first-quarter results and after an upbeat research note from Goldman Sachs. The previous record close was $133.00 on Feb. 23, 2015. From there, the stock had tumbled as much as 32% to a near two-year low of $90.34 on May 12, 2016, and has soared 48% since then. The stock has surged 9.8% since Apple reported strong results after the Jan. 31 close, dispelling fears of slowing iPhone sales. On Monday, Goldman Sachs raised its stock price target to $150, which is 13% above current levels from $133, citing “increased confidence” that “major new features” would boost sales of new iPhones. The stock has soared 23% over the past three months, while the Dow Jones Industrial Average has gained 8.3%.

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Marathon Pharmaceuticals said it would pause the launch of its recently-approved Duchenne muscular dystrophy drug after an outcry over Emflaza’s $89,000-a-year price tag. The privately-held company said it has heard concerns about the drug’s pricing and reimbursement details from the DMD community. “Please know we sought FDA approval of Emflaza to improve access to this treatment,” Chief Executive Officer Jeffrey Aronin said. “We have and always will support you in that endeavor.” He did not say when the drug would be launched, or whether the company would change its price. Under 1,000 patients who receive the drug for free through Marathon’s expanded access program will continue to do so, Marathon said. Emflaza, which is a corticosteroid, was only the second DMD drug approved in the U.S., although corticosteroids are used for the degenerative disease in other parts of the world. The first DMD drug, made by Sarepta Therapeutics Inc. , was approved last year and is priced at about $300,000. Some of the patient community’s concerns were around whether Emflaza’s price would effect health insurance coverage of Sarepta’s drug, Aronin said. Sarepta shares have sunk 30.0% over the last three months, compared with a 7.6% rise in the S&P 500 .

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Oil prices settled with a loss Monday for the first time in four sessions. Recent data pointing to sizable growth in U.S. crude production, including a U.S. government forecast Monday showing an expected rise in domestic shale-oil output in March, pressured prices despite reports of major production cuts by OPEC members. March West Texas Intermediate crude fell 93 cents, or 1.7%, to settle at $52.93 a barrel on the New York Mercantile Exchange.

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