Tag: stock market

U.S. stocks opened lower on Monday, putting the Dow on track to retreat below the 20,000 milestone, as President Donald Trump’s controversial travel ban rattled markets and investors braced for a flurry of earnings as well a policy announcement from the Federal Reserve. The S&P 500 index retreated eight points, or 0.3%, to 2,287. The Dow Jones Industrial Average fell 74 points, or 0.4%, to 20,018. The Nasdaq Composite Index shed 27 points, or 0.5%, to 5,634. Among individual stocks, Rite Aid Corp.’s stock plunged after Walgreens Boots Alliance Inc. agreed to lower its per-share acquisition price. Airline stocks, including JetBlue Airways , Southwest Airlines and Delta Air Lines all fell. Delta said domestic flights were resuming after a computer glitch led to widespread cancellations on Sunday.

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Movie theater chain AMC Entertainment on Monday offered guidance for full-year 2016 that topped consensus estimates, following its acquisition of two other theater chains. The company said it expects EPS of $1.13 to $1.21, compared with $1.06 for 2015. The current FactSet consensus is for 2016 EPS of $1.02. Revenue is expected to range from $3.226 billion to $3.236 billion, up from $2.947 billion in 2015. The FactSet consensus is for revenue of $3.145 billion. “Industry wide, U.S. box office revenue for 2016 increased approximately 2% compared to 2015, while industry box office for the fourth quarter of 2016, impacted by challenging comparisons related to last year’s opening of the largest grossing film of all time, Star Wars: The Force Awakens, declined approximately 4%,” the company said in a statement. The numbers include the results of Odeon for the 32-deay period from the completion of its acquisition on Nov. 30, as well as for Carmike for the 11-day period from the closure of that deal on Dec. 21. AMC is expecting to report final numbers on Feb. 28. Shares were not yet active in premarket trade, but have gained 56% in the last 12 months, while the S&P 500 has gained 19%.

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Macy’s Inc. said Monday that it has entered into an agreement with Garrett Brands to sell its Frango premium chocolate business. Garrett Brands, the owner of Garrett Popcorn Shops, will develop, create, sell and distribute Frango products. And Macy’s will continue to sell the products in the Frango Cafe in the Macy’s State Street store in Chicago, at more than 350 other locations, and online. Macy’s shares are inactive in premarket trading, and down 28% for the past year. The S&P 500 index is up 18.3% for the last 12 months.

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Office Depot Inc. named on Monday Gerry Smith as its chief executive officer, effective Feb. 27. Smith will succeed current Chief Executive Roland Smith, who announced his plan to retire in August 2016. Smith is currently the chief operating officer at technology company Lenovo Group . Office Depot’s stock, which was still inactive in premarket trade, has tumbled 16% over the past 12 months, while the S&P 500 has run up 18%.

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Shares of Tempur Sealy International Inc. plunged 29% toward a three-year low in premarket trade Monday, after the mattress seller said Mattress Firm Holdings Corp. will terminate all contracts with the company in the U.S. unless significant changes weren’t made to agreements. With the companies unable to reach agreement, Tempur Sealy issued termination notices for all its brands to Mattress Firm as of Jan. 27, and expects to cease doing business with Mattress Firm during the first quarter of 2017. Tempur Sealy said sales to Mattress Firm, which were approximately 21% worldwide, had declined by 11% since 2015. Tempur Sealy said it expects to report 2016 sales of $3.13 billion, above the FactSet consensus of $3.10 billion. “Ultimately, we concluded that it was in the long-term interest of all of our stakeholders to terminate our contracts with Mattress Firm,” said Tempur Sealy Chief Executive Scott Thompson. “This enables us to immediately reorient our employees and resources to support retail partners that exhibit a long-term commitment to Tempur Sealy’s brands.” The stock had gained 4.7% over the past 12 months through Friday, while the S&P 500 had climbed 18%.

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Delta Air Lines Inc. said Monday that its domestic flights have resumed after a computer glitch grounded flights in the U.S. on Sunday.”Delta flights are departing and a ground stop has been lifted as IT systems begin to return to normal after a systems outage,” the company said via Twitter. Delta said roughly 150 flights were cancelled, but that more were expected. The ground stop for all Delta-branded flights, as well as its regional partner carriers, meant that no flights were allowed to take off.

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At least five people at a Quebec City, Canada, mosque were killed Sunday night when gunmen opened fire during evening prayers, according to multiple news reports. Witnesses said as many as three gunmen were involved in the attack at the Quebec City Islamic Cultural Center. There were apparently about 40 people inside, and witnesses reported “many” wounded.

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Starbucks Corp. will hire 10,000 refugees over the next five years at stores in the 75 countries it operates, Chairman and Chief Executive Howard Schultz said Sunday in a statement. Schultz said he hoped to address the concerns of employees who may be feeling uneasy after a series of executive orders issued by the Trump administration in the past week. Schultz said the company would continue to support DREAMers — children of undocumented immigrants who were brought to the U.S. as children — would continue to operate and invest in Mexico and is committed to providing health insurance to workers if the Affordable Care Act is revoked. To kick off its campaign to hire refugees, he said Starbucks will offer jobs to those who served as interpreters or support personnel for U.S. troops overseas. “We have a long history of hiring young people looking for opportunities and a pathway to a new life around the world,” Schultz said.

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Delta Airlines flights in the U.S. were grounded Sunday evening because of computer problems. International flights were not affected. The ground stop for all Delta-branded flights, as well as its regional partner carriers, meant that no flights were allowed to take off. It was the second such nationwide shutdown by Delta in the past six months. Last Sunday, United Airlines suffered a similar ground stop for about two hours after a computer glitch.

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British actor John Hurt, a two-time Oscar nominee who played a wide variety of roles on film, TV and in theater, has died aged 77 from pancreatic cancer, family members confirmed Saturday. The actor, who was critically acclaimed for his portrayal of Caligula in the highly regarded TV series “I Claudius”, as well as John Merrick in David Lynch’s “The Elephant Man” and wand expert Mr Ollivander in the “Harry Potter” films, was a character actor with a distinctive, smoky voice, who worked on both sides of the Atlantic in small, independent films as well as blockbusters. He was widely praised for his role in Samuel Beckett’s “Krapp’s Last Tape” in 2013, performed at Dublin’s Gate Theater. His breakthrough role was that of the flamboyant Quentin Crisp in “The Naked Civil Servant” in 1975, a groundbreaking production that was credited with pushing the acceptance of the gay community in Britain. He was nominated for a supporting actor Oscar for his role in Alan Parker’s “Midnight Express” and for best lead actor in “The Elephant Man.” He is also known for playing Kane in the sci-fi hit “Alien” and the famous scene in which the alien creature bursts out of his stomach. Twitter lit up with tributes to an actor who starred in more than 200 films, won four Baftas and who was knighted in 2014.

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