Tag: stock market

Nexstar Media Group Inc. said on Friday it is increasing its quarterly cash dividend by 25% to 30 cents per share. The dividend, which is the company’s fourth annual consecutive increase, is payable Feb. 24 to shareholders of record Feb. 10. Nextstar hopes its strategies to build the top line, maintain fixed costs and optimize the balance sheet will support its goals to deliver or exceed free cash flow targets of $565 million for the 2016/2017 cycle and allow the company to reduce leverage, pursue acquisitions, pay dividends and consider other return of capital initiatives, Chief Executive Perry Sook said in a statement. Shares of Nexstar have gained nearly 35% in the trailing 12-month period, outperforming the S&P 500 Index , which is up 22% in the same time frame.

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Colgate-Palmolive reported fourth-quarter net income Friday of $606 million, or 68 cents per share, compared to a loss of $458 million , or a loss of 51 cents per share, in the year-earlier period. It reported adjusted earnings per share of 75 cents, in line with the FactSet consensus of 75 cents. Sales were $3.72 billion, below the year-earlier number of $3.89 billion and below the FactSet consensus of $3.89 billion. The company expected earnings per share on a dollar basis to be flat for the coming full year and low-single-digit in adjusted EPS. Shares of Colgate-Palmolive have fallen 3.3% in the past three months, compared to the S&P 500’s gain of 7.7%.

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Proofpoint Inc. shares slipped in the extended session Thursday even after the cloud-based security company’s results and outlook topped Wall Street estimates. Proofpoint shares declined 2% to $80.95 after hours. The company reported adjusted fourth-quarter earnings of 18 cents a share on revenue of $106.8 million. Analysts surveyed by FactSet had estimated 13 cents a share on revenue of $104.8 million. The company forecast adjusted first-quarter earnings of 7 cents to 9 cents a share on revenue of $109 million to $111 million. Analysts expect 5 cents a share on revenue of $106.6 million.

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TransCanada Corp. said late Thursday it has submitted a presidential permit application to the State Department for approval of its Keystone XL pipeline. Earlier this week, President Donald Trump signed orders to revive Keystone XL and another pipeline in the Midwest, the Dakota Access, or Bakken pipeline. Shares of TransCanada were down 2% in the late session after ending the regular session down 1.4%. Then-President Barack Obama rejected the pipeline in late 2015. The pipeline is planned to begin in Hardisty, in Canada’s Alberta province, and end 1,179 miles later at Steele City, Neb.

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Wynn Resorts Ltd. shares rallied in the extended session Thursday even after the casino operator’s earnings missed Wall Street targets. Wynn shares surged 7.3% to $102.50 after hours. The company reported fourth-quarter earnings of $1.12 a share, up from 86 cents a share in the year-ago period, owing to strong results from its Wynn Palace resort. Revenue rose to $1.3 billion from $946.9 million a year ago. On an adjusted basis, Wynn reported earnings of 50 cents a share. Analysts surveyed by FactSet had estimated adjusted earnings of 87 cents a share on revenue of $1.26 billion.

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Juniper Networks Inc. shares tanked late Thursday after the company beat fourth-quarter earnings and sales expectations but predicted lower-than-expected first-quarter results. Juniper said it earned $197.4 million, or 51 cents a share, in the fourth quarter, flat year-over-year. Adjusted for one-time items, the company earned $254.3 million, or 66 cents a share, compared with 63 cents a share a year ago. Revenue hit $1.39 billion in the quarter, up 5% from $1.32 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 63 cents a share on sales of $1.36 billion. Juniper said it expects revenue of about $1.2 billion in the first quarter and an adjusted net income between 38 cents a share and 44 cents a share. The analysts surveyed by FactSet had expected first-quarter EPS of 46 cents a share.

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Shares of VMware Inc. rose in Thursday’s extended session after the virtualization software vendor posted strong earnings and announced a sizeable stock repurchase plan. VMware reported its fourth-quarter earnings rose to $441 million, or $1.04 a share, from $373 million, or 88 cents a share, a year ago. On an adjusted basis, VMware would have earned $1.43 a share. Revenue grew to $2.03 billion versus $1.87 billion. Analysts surveyed by FactSet had forecast the company to earn $1.39 a share. VMware also said it will buy back up $1.2 billion in Class A common shares. The stock rose 2.5% after hours.

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The Dow Jones Industrial Average rallied 32 points to a second-straight record close above 20,000, with 17 of 30 components gaining ground, but most stocks in the broader market fell. The number of declining stocks outnumbered advancers by a 1,523 to 1,400 margin on the NYSE and by a 1,731 to 1,042 score on the Nasdaq exchange. Volume in advancing stocks was 39% of the NYSE’s total volume, and 44% of the Nasdaq’s total volume. Meanwhile, the S&P 500 slipped 0.1%, the Nasdaq Composite eased less than 0.1% and the Russell 2000 index of small-capitalization stocks fell 0.5%.

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Shares of Alphabet Inc. fell 3% in extended trading Thursday after the company reported weaker-than-expected fourth-quarter earnings. The Google and YouTube parent reported net income of $5.3 billion, or $7.56 a share, compared with $6 billion, or $7.06 a share, in the year-earlier period. Excluding one-time items, Alphabet reported earnings of $9.36 a share, narrowly below the FactSet consensus estimate of $9.64. Revenue for the period rose to $26.06 billion, or roughly $21.2 billion when removing traffic acquisition costs. Revenue topped analyst expectations of $20.6 billion. Both cost of revenues and operating expenses were higher during the quarter. As of Thursday’s close, shares of Alphabet had been up 4.2% in the past three months, compared with a 7.3% increase for the S&P 500 .

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President Donald Trump wants to pay for a wall along the border with Mexico through a 20% tax on imports, White House press secretary Sean Spicer told reporters Thursday. Spicer’s comments appeared to be an embrace of House Republicans’ border adjustment plan, which would tax imports but exempt exports from taxation. Republicans have pressed the plan as an alternative to tariffs. Earlier Thursday, Mexico’s president canceled a planned meeting with Trump as the two disagreed over who would pay for the proposed wall. Spicer said import taxes would be applied to countries the U.S. has a trade deficit with, like Mexico.

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