Tag: stock market

MSG Networks Inc. reported fiscal second-quarter net income of $43.3 million, or 58 cents per share, up from $33.9 million, or 45 cents during the same quarter a year ago. The company’s per-share earnings were above FactSet’s consensus of 53 cents. Revenue for the quarter hit $175.6 million, compared with $169.9 million in the year-earlier period. FactSet had forecast for revenue of $176.0 million. MSG Networks is the broadcasting home to New York-area sports teams, including the New York Knicks, the New York Rangers and coverage of the New York Giants. Shares of MSG Networks are up 36% in the last 12 months, while the S&P 500 Index is up 20%.

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L Brands Inc. reported sales for the four weeks ending Jan. 28, 2017 of $805.2 million, down from $811.3 million last year, and a same-store sales decline of 4%. The company, whose brands include Victoria’s Secret and Bath & Body Works, reported fourth-quarter sales on Thursday totaling $4.49 billion, up from $4.40 billion last year, but below the $4.52 billion FactSet consensus. The company expects to report fourth-quarter earnings per share of about $1.90. Its previous guidance was $1.85 and $2.00, and the FactSet consensus is $1.87. Full-year sales were $12.57 billion, up from $12.15 billion last year and just below the $12.60 billion FactSet estimate. L Brands also authorized a $250 million share buyback program, which includes the $62 million remaining under a previous program. L Brands shares are unchanged in premarket trading, and are down 38.2% for the past 12 months. The S&P 500 index is up 19.8% for the last year.

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Sirius XM Holdings Inc. reported improved fourth-quarter earnings and revenue on Thursday. Net income for the quarter was $204.6 million, or 4 cents per share, compared with $134.6 million, or 3 cents during the same period a year ago. Sirius’ per-share earnings came in right at FactSet’s consensus of 4 cents. Revenue hit $1.30 billion during the quarter, up from $1.20 billion during the year-earlier quarter and just ahead of FactSet’s forecast for $1.29 billion. The satellite radio broadcasting company said it added 1.75 million net subscribers during the full year 2016, more than the 1.65 million FactSet expected. Sirius expects to add 1.30 million self-pay subscribers during 2017 and expects revenue of approximately $5.30 billion, above the FactSet consensus of $5.01. Shares of Sirius are up more than 33% in the trailing 12-month period, while the S&P 500 Index is up nearly 20% in during the same time frame.

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Estee Lauder Cos. shares fell 1.2% in Thursday premarket trading after the beauty company gave fiscal full-year 2017 guidance below consensus. Net income was $428.0 million, or $1.15 per share, down from $447.0 million, or $1.19 per share. Adjusted EPS was $1.22, beating the $1.17 FactSet consensus. Revenue totaled $3.21 billion, up from $3.12 billion, and just below the $3.24 billion FactSet estimate. Acquisitions of the By Kilian, Becca and Too Faced brands added about 90 basis points to sales growth, about half of which was attributed to Too Faced, the company said. Estee Lauder sees full-year fiscal 2017 sales increasing between 4% and 5%, EPS between $3.07 and $3.14, and adjusted EPS between $3.29 and $3.33. The full-year FactSet revenue consensus is $11.88 billion, about 5.5% higher than full-year 2016 sales results. The FactSet EPS consensus is $3.39. Estee Lauder shares are down 6% for the past year while the S&P 500 index is up 19.8% for the same period.

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Shares of Philip Morris were up 2.7% in premarket trade Thursday after the company beat fourth-quarter revenue expectations, but missed on profit. It reported net income of $1.71 billion, or $1.10 per share, up from $1.25 billion, or 80 cents per share in the year-earlier period. The company reported adjusted earnings per share of $1.10, below the FactSet consensus of $1.12. The company reported revenue, excluding excise taxes, of $6.97 billion, up from $6.39 billion in the year-earlier period but above the FactSet consensus of $6.7 billion. The company sees 2017 earnings per share of $4.70 to $4.85, compared to the FactSet consensus of $4.73. Shares of Philip Morris have gained 5% in the past month, compared to the S&P 500’s gain of 2%.

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ConocoPhillips reported a smaller-than-expected fourth-quarter loss and a production beat on Thursday. The loss was $35 million, or three cents per share, compared with a loss of $3.5 billion, or $2.78 per share in the year-earlier period. Adjusted loss per share was 26 cents, compared with the FactSet consensus of a 42 cent loss. Fourth-quarter production was down 12 MBOED to 1,587 MBOED, compared with the FactSet consensus of 1,580 MBOED. The company expects first-quarter 2017 production of 1,540 MBOED to 1,580 MBOED, compared with the FactSet consensus of 1,580 MBOED. For 2017, ConocoPhillips expects production at 1,540 MBOED to 1,570 MBOED, compared with the FactSet consensus of 1,570 MBOED. ConocoPhillips shares have risen 12.2% over the last three months, compared with a 8.7% rise in the S&P 500 .

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President Donald Trump has responded on social media early Thursday to violent protests at the University of California, Berkeley. A planned appearance there Wednesday by controversial internet figure Milo Yiannopoulos, an editor for the conservative website Breitbart, was canceled after protests over the planned event turned violent on campus. In response, Trump tweeted: “If U.C. Berkeley does not allow free speech and practices violence on innocent people with a different point of view – NO FEDERAL FUNDS?” Protesters took to the streets of Berkeley Wednesday afternoon and evening local time after police dispersed the crowd at the university. Some protesters broke into several banks and businesses including a Chase location and a Wells Fargo location, according to local news reports.

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Cigna Corp. reported higher revenue on Thursday, boosted by growth in its customer units, and posted an upbeat outlook on earnings for this year. The health-insurance provider reported fourth-quarter adjusted earnings per share of $1.87, unchanged from the year-ago period. That matched expectations of analysts polled by FactSet Research. Revenue rose to $9.94 billion from $9.52 billion in the year-ago period. Cigna said for the full year 2017, it’s expecting consolidated adjusted income from operations in the range of $2.35 billion to $2.48 billion, or $9.00 to $9.50 per share. Shares were unchanged in premarket activity.

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A federal judge in Los Angeles has ruled that the Donald Trump administration must allow immigrants with visas from seven Muslim-majority countries into the U.S., going against an executive order from the president. In another blow to Trump’s travel ban, Judge André Birotte Jr. of United States District Court late Tuesday ordered U.S. officials to refrain from “removing, detaining or blocking the entry of plaintiffs or any other person … with a valid immigrant visa,” according to media reports. Officials at border controls have been blocking people from the seven countries in Trump’s immigration ban from entering the U.S., even those with visas that allow them to legally reside in the country. Birotte’s ruling follows similar decisions in at least four other states following Trump’s executive order issued on Friday. The order enforced travel restrictions on people from Syria, Iraq, Iran, Yemen, Sudan, Somalia and Libya — predominantly Muslim nations — for 90 days.

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Shares of Mead Johnson Nutrition Co. jumped in the extended session Wednesday following a report that Reckitt Bensicker Group PLC was in talks to acquire the company. Mead Johnson shares surged 19% to $82.99 after hours. Late Wednesday, The Wall Street Journal reported that Reckitt Bensicker could offer more than $15 billion for the baby-food maker. Prior to the report, shares of Mead Johnson were down 1.8% for the year and down more than 26% from a year ago.

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