Tag: stock market

Ruby Tuesday Inc. fell in the extended session Thursday after the casual-dining chain reported a wider loss following a double-digit drop in revenue. Ruby Tuesday shares fell 19% to $2.87 after hours. The company reported a wider adjusted second-quarter loss of 18 cents a share, compared with 4 cents a share in the year-ago quarter. Ruby Tuesday reported second-quarter revenue of $214.7 million, a decline of nearly 18% from the year-ago quarter.

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Shares of Gap Inc. rose more than 10% late Thursday after the retailer reported growing holiday sales. Gap said its net sales were up 1% and comparable sales up 2% for the November and December holiday season, compared with the 2015 season. Net sales for the five-week period ended Dec. 31 rose 3% to $2.07 billion, compared with $2.01 billion for the five-week period ended Jan. 2, 2016, the company said in a statement. The owner of Gap, Old Navy, and Banana Republic stores upped its full-year per-share earnings expectations, saying it now expects earnings to be “modestly above the high end of our previous adjusted guidance range of $1.92.” Good news at Gap contrasted with lower holiday sales disclosed Wednesday by Kohl’s Corp. and Macy’s Inc., which has dragged on their shares. Gap stock had ended the regular trading day down 3.9%.

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Shake Shack Inc. shares fell 3% late Thursday after news Chief Financial Officer Jeff Uttz will retire this year. In the same statement, the fast-casual chain named Zach Koff its first chief operating officer. Uttz will remain CFO until March so to complete the 2016 reporting period, and the company has started the search for his replacement. Koff has been with the company since 2010, in roles that included senior VP of operations. Shares of Shake Shack had ended the regular trading day up 1.8%.

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T-Mobile US Inc. said Thursday it expects full-year net customer additions to total 8.2 million, after it added 2.1 million net new customers in the fourth quarter. The number matches the FactSet consensus for net customer additions. The company said it added 1.2 million branded postpaid net customers in the fourth quarter and 933,000 branded postpaid phone net customers. Churn, or turnover, fell 18 basis points to 1.28%. The company is scheduled to report fourth-quarter numbers in February. Shares were down 2.3% in afternoon trade, but have gained about 42% in the last 12 months, while the S&P 500 has gained 12%.

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WASHINGTON (MarketWatch) — Shares of both Time Warner and AT&T saw pressure after Bloomberg News reported that President-elect Donald Trump still is opposed to the two companies merging, a view he expressed during the campaign. The report cited unnamed people close to the president-elect. The report didn’t say whether Trump’s view was shared by his nominee to be attorney general, Sen. Jeff Sessions. Time Warner fell as much as 3.8% but recently was down 1.5%. AT&T fell as much as 0.6% but recently was down 0.3%.

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Gold futures rallied Thursday to finish at the highest level since late-November, finding support from a weaker U.S. dollar and uncertainty surrounding the pace of the Federal Reserve’s interest-rate increases. February gold tacked on $16, or 1.4%, to settle at $1,181.30 an ounce. That was the highest finish since Nov. 29, according to FactSet data.

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President-elect Donald Trump threatened Toyota Motor Corp. with a “big border tax” if the company builds a plant in Mexico instead of the U.S. In a tweet, Trump said Toyota is planning to build a new plant in Baja, Mexico, to build its Corolla cars for the U.S. market. “No way!,” Trump said. “Build plant in U.S. or pay big border tax.” Toyota’s shares were off about 0.4% after Trump’s tweet.

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Shares of biotech KaloBios Pharmaceuticals Inc. surged 8% Thursday, after the company reported positive guidance from a meeting with the U.S. Food and Drug Administration regarding its benznidazole, a treatment for the neglected rare tropical illness, Chagas disease. The company, which was headed by investor Martin Shkreli until his arrest on fraud charges in late 2015, said the FDA will accept its approach to showing safety and efficacy using data drawn from previous studies. The regulator said benznidazole is expected to be eligible for a priority review voucher, which is given to sponsors of treatments for certain neglected tropical diseases. “This guidance makes it clear that we are on the right track with our development of benznidazole for Chagas disease, and we expect we will progress expeditiously toward a submission,” Chief Executive Cameron Durrant said in a statement. Shares, which trade over-the-counter, are down 82% in the last 12 months, while the S&P 500 has gained about 12%.

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Shares of Twilio gained 2% after the stock was upgraded to overweight from sector weight at Pacific Crest Securities Thursday. The analysts upgraded the company, saying they believe the core business of Twilio, which makes programmable cloud software for developers and enterprises and makes up 90% of revenue, is in a position to see continued steady growth. That growth could lead Twilio to profitability by the end of the year, they said. Additionally, they say a 55% stock drop in the fourth quarter of 2016 has created “an increasingly favorable risk/reward” for investors. They established a price target of $36. Shares of Twilio have fallen 10% in the past month, compared to the S&P 500’s gain of 3%.

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Oil futures pared earlier gains Thursday after the U.S. Energy Information Administration reported that domestic crude supplies fell much more than expected, but stocks of gasoline and distillates spiked higher. Crude stockpiles declined by 7.1 million barrels for the week ended Dec. 30. The American Petroleum Institute late Wednesday reported a fall of 7.4 million barrels, though analysts polled by S&P Global Platts forecast a decline of 1.7 million barrels. Gasoline supplies, however, rose 8.3 million barrels while distillate stockpiles jumped up by 10.1 million barrels, according to the EIA. Reports on supplies this week were delayed by a day because of the New Year’s Day holiday. February crude traded up 7 cents, or 0.1%, to $53.33 a barrel on the New York Mercantile Exchange, down from $53.90 before the data.

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