MarketWatch.com - MarketPulseбез даты Текст источника в новой вкладке
MarketWatch, a leading publisher of business and financial news, offers users up-to-the minute news, investment tools, and subscription products.
Copyright 2019, MarketWatch, Inc.

 
 
1. White House picks Perry's deputy to replace him as energy chiefПт., 18 окт.[−]

President Donald Trump on Friday tweeted that he is nominating Energy Department Deputy Secretary Dan Brouillette to become the department's new secretary, replacing Ricky Perry. Perry "will be leaving at the end of the year to pursue other interests," Trump said. Brouillette was previously a lobbyist for Ford Motor Co. and insurer USAA.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


2. Dow industrials end 1% lower as Boeing, J&J shares exact more than 220-point toll on the blue-chip indexПт., 18 окт.[−]

U.S. stocks finished near their lows of the session on Friday, with declines in Johnson & Johnson and Boeing Co. delivering the lion's share of the pain for the Dow industrials. The Dow closed off 255 points, or 0.9%, at 26,770. Dow components Boeing cut about 170 points from the price-weighted average, while J&J and shares exacted a 57-point toll on the index. The S&P 500 index closed 0.4% lower at 2,986, while the Nasdaq Composite Index ended 0.8% lower at 8,090. Boeing's stock got slammed after the Federal Aviation Administration said the aviation and defense contractor withheld "concerning" messages from 2016 between employees about a flight-control system tied to two fatal crashes of the 737 MAX, while J&J's stock got pulverized, off more than 6%, after the consumer-product giant recalled some baby powder - after tests revealed traces of asbestos.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


3. Dow transports gain, all because of Kansas City Southern's stock rallyПт., 18 окт.[−]

Shares of Kansas City Southern surged 6.2% toward a record high in afternoon trading, enough to keep the Dow Jones Transportation Average in positive territory to buck weakness in the broader market, after the railroad company reported better-than-expected third-quarter earnings. The stock's price gain of $8.43 was adding about 51 points to the Dow transports' price, and the index was up nearly 5 points. Meanwhile, the Dow Jones Industrial Average was down 164 points, or 0.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


4. Oil futures end lower for the session and week as demand worries lingerПт., 18 окт.[−]

Oil futures fell modestly on Friday to post a loss for the week, as data from China showing slower economic growth fed worries about weaker demand for oil. Gross domestic product expanded at a 6% pace in the third quarter, the slowest in 27 years. November West Texas Intermediate oil fell 15 cents, or 0.3%, to settle at $53.78 a barrel on the New York Mercantile Exchange. The front-month contract lost 1.7% for the week, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


5. Dow's 170-point drop belies upbeat NYSE breadth dataПт., 18 окт.[−]

The Dow Jones Industrial Average is selling off by 171 points, or 0.6%, despite positive market breadth data for the NYSE. The number of advancing stocks is outnumbering decliners 1,429 to 1,360 on the NYSE, while volume of advancing stocks represents 53.8% of total volume on the Big Board. Meanwhile, decliners are leading advancers 1,708 to 1,148 on the Nasdaq exchange and down volume is 64.4% of total volume. The Nasdaq Composite is losing 0.7% and the S&P 500 is shedding 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


6. Boeing's stock selloff a triple-digit point drag on the DowПт., 18 окт.[−]

Boeing Co. is by far the biggest drag on the Dow Jones Industrial Average on Friday, as the aerospace giant's stock selloff accounts for a triple-digit decline all by itself. Takeaway Boeing and Johnson & Johnson's tumbled, and the Dow would actually be higher. Boeing's stock fell 4.8% in afternoon trading after Reuters reported that the company misled the Federal Aviation Administration regarding the safety of its 737 Max planes, which have been grounded since March after two deadly crashes. The $17.86-price decline was shaving about 121 points off the Dow's price. Meanwhile, J&J's stock dropped $7.83, or 5.8%, after the company announced an asbestos-related recall of its baby powder, to undercut the Dow by 53 points. With the Dow down 168 points, excluding the shares of Boeing and J&J would turn the Dow slightly positive.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


7. Gold futures down for the session, but post a slight gain for the weekПт., 18 окт.[−]

Gold futures settled lower on Friday, but posted a modest 0.4% gain for the week. "Gold appears to be in 'no man's land'," said Edward Moya, senior market analyst at Oanda. "The trade war is the gift that keeps on giving, but uncertainty on how much the [Federal Reserve] will fill the punchbowl has gold stuck in a range" of between $1,470 and $1,530 until the Oct. 30 Fed meeting, he said. December gold fell $4.20, or 0.3%, to settle at $1,494.10 an ounce.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


8. Mattel partners with 'Get Out' star Daniel Kaluuya for 'Barney' filmПт., 18 окт.[−]

Mattel Inc. has added another film project to its roster. Mattel Films has partnered with 59% and Valpariso Pictures to produce a live-action film based on the big purple dinosaur Barney. Daniel Kaluuya, star of "Get Out," is one of the co-producers at 59%. Among the other films in the works are one featuring Barbie, made with help from Oscar nominee Margot Robbie, a Hot Wheels movie, and a film based on the American Girl line of dolls. Mattel stock is up 13% for the year to date while the S&P 500 index is up 19.2% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


9. Baker Hughes data show U.S. oil-rig count up a second week in a rowПт., 18 окт.[−]

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by one to 713 this week. That followed an increase of two rigs a week earlier. The total active U.S. rig count, meanwhile, fell by five to 851, according to Baker Hughes. November West Texas Intermediate crude was down 42 cents, or 0.8%, at $53.51 a barrel, little changed from before the rig data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


10. Boeing stock slips further on report it misled FAAПт., 18 окт.[−]

Boeing Co. shares added to losses Friday after Reuters reported that instant messages from 2016 suggest the company misled the Federal Aviation Administration regarding the 737 Max safety. The FAA turned over the messages to U.S. lawmakers and the Department of Transportation inspector general, according to reports. The 737 Max planes have been grounded worldwide since March after two deadly crashes less than five months apart. Boeing is still working on a solution for an equipment malfunction that appears to connect the doomed flights. Shares of Boeing were recently down more than 4%. In the year, the stock has gained 9.6%, compared with gains of 15% for the Dow Jones Industrial Average. Boeing is a Dow component.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


11. Dow industrials skid 200 points lower in midday action as J&J and Boeing's stock produce 100-point headwindПт., 18 окт.[−]

The Dow Jones Industrial Average Friday midday was trading at session lows, with shares of Johnson & Johnson and Boeing delivering the biggest headwind to the blue-chip gauge. The Dow was off 206 points, or 0.8%, at 26,802, with shares of J&J cutting about 45 points from the index. The S&P 500 index was down 0.7% at 2,976, while the Nasdaq Composite Index was trading 1.4% lower at 8,047. J&J's stock was sinking and weighing down the the Dow, where it is a component, after the consumer products and drug company said it was recalling "a single lot" of Johnson's Baby Powder after tests revealed traces of chrysotile asbestos. Boeing Co. 's shares were down 3.3% after a Reuters report. Meanwhile, Federal Reserve Vice Chairman Richard Clarida on Friday said the economy is facing "evident" risks, while inflation remains muted.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


12. Oracle co-CEO Mark Hurd has diedПт., 18 окт.[−]

Oracle Corp. confirmed on Friday that its former co-chief executive Mark Hurd has died at age 62. Hurd had taken a medical leave in September, leaving Chief Executive Safra Catz alone at the helm of the software giant. Hurd had a long career in tech and left HP's chief-executive role in 2010 due to sexual-harassment claims. He joined Oracle that year and had recently been leading the company's corporate direction and strategy. Oracle's stock is off 0.8% in Friday trading. Shares have fallen 6% over the past three months, as the S&P 500 has lost 0.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


13. Victoria's Secret parent L Brands, Macy's, Gap shares tank after downgrades as pressure mounts for holiday seasonПт., 18 окт.[−]

Credit Suisse analysts went on a downgraded spree in the retail sector, lowering Macy's Inc. , Gap Inc. and Victoria's Secret parent company L Brands Inc. to underperform from neutral based on analyst forecasts that weak recent trends will continue through the holiday season. L Brands stock slumped 8% after the downgrade, Gap stock slumped 5.8% in Friday trading, and Macy's stock was down 4.3%. Among the factors causing the pressure are a shorter holiday shopping calendar and tariff and tourism uncertainty. Analysts expressed concern, and lowered estimates, across the U.S. softline retailer group, but were especially cautious on these three retailers. Credit Suisse thinks Macy's "same-store sales trends likely running below Street estimates in Q3" with the "earnings-per-share algorithm in much more fragile state today vs. pre-2008 recession." Analysts cut Macy's price target to $12 from $19. Analysts cut Gap's price target to $14 from $20. "We believe the pending spinoff of Old Navy will ultimately prove to have been destructive to equity value, and have low confidence that the company will be able to achieve the offsets to dis-synergy costs laid out in its recent presentation," analysts said. And L Brands' price target was slashed to $14 from $22. "In a tougher U.S. backdrop, we see risk to 2H guide that assumes a fairly quick turn in Victoria's Secret trends with the multitude of challenges facing the company today making it difficult to support the stock on valuation alone," Credit Suisse said. Analysts top picks in the sector are all rated outperform and all had price target hikes: Vans parent VF Corp. , up to $116 from $104; off-price retailer Ross Stores Inc. , up to $130 from $120; Burlington Stores Inc. , up to $245 from $235; and Nike Inc. target price raised to $112 from $105. The SPDR S&P Retail ETF is down nearly 9% over the past year while the S&P 500 index has gained 8% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


14. Fed's Clarida says economy facing risks while inflation remains mutedПт., 18 окт.[−]

Federal Reserve Vice Chairman Richard Clarida on Friday said the economy is facing "evident" risks, while inflation remains muted. In a speech in Washington, Clarida didn't say much about what action the central bank may take at its meeting in two weeks in light of the risks and low inflation. He stressed interest-rate policy was not on a preset course and policy makers would make decisions meeting-by-meeting. Officials would assess the risks and will act as appropriate, he added. The Fed has already cut interest rates twice this year "to provide a somewhat more accommodative policy in response to muted inflation pressures and the risks to the outlook," he noted. Clarida's comments represent the last public word from the Fed leadership ahead of the Oct. 29-30 meeting.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


15. Sanofi recalls Zantac because of possible contamination with potentially cancer-causing NDMAПт., 18 окт.[−]

Sanofi announced Friday a recall of over-the-counter heartburn medication Zantac in the U.S. and Canada, because of possible contamination with N-nitrosodimethylamine (NDMA), which is believed to cause cancer. The U.S.-listed stock fell 0.9% in morning trading. Sanofi said it was working with health authorities to determine the level and extent of the recall. The recall comes less nearly three weeks after CVS Health Corp. , Walgreens Boots Alliance Inc. and Rite Aid Corp. said they were pulling Zantac from their drugstores' shelves following a Food and Drug Administration warning that the the product could contain low levels of NDMA. "Evaluations are ongoing on both drug substance (active ingredient) and finished drug product," Sanofi said Friday in a statement. "Due to inconsistencies in preliminary test results of the active ingredient used in the U.S. and Canadian products, Sanofi has made the decision to conduct the voluntary recall in the U.S. and Canada as the investigation continues." Sanofi's shares have gained 6.2% year to date, while the SPDR S&P Pharmaceuticals ETF has gained 2.0% and the S&P 500 has climbed 19.5%

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


16. Caterpillar stock downgraded at Morgan Stanley on 'increasing downside risks' heading into next yearПт., 18 окт.[−]

Caterpillar Inc. was downgraded by Morgan Stanley analyst Courtney Yakavonis, who cited signs of "increasing downside risks" to the machinery and heavy equipment maker's construction and energy and transportation (E&T) businesses. Yakavonis cut the rating to equal weight, after being at overweight since March 2018, and lowered the stock price target to $145 from $150. The stock edged up 0.3% in morning trading. "We believe the U.S. construction equipment market peaked in 2019 and the E&T markets will fail to re-accelerate in 2020," Yakavonis wrote in a note to clients. "Our [North America] construction equipment replacement cycle analysis suggests that replacement will revert to a headwind in 2020 while elevated dealer inventory levels have also materially increased the risk of a dealer inventory de-stock," Yakavonis wrote in a note to clients. "We are also concerned about pricing heading into 2020, and think that margins could still be under pressure next year even if input costs fall." The stock had gained 3.5% year to date, while the Dow Jones Industrial Average has rallied 15.5%. (This updates an earlier item that had included incorrect spellings of the analyst's name.)

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


17. Dallas Fed's Kaplan says 'agnostic' on need for rate cut in OctoberПт., 18 окт.[−]

Dallas Fed President Robert Kaplan said Friday that he's not sure whether the central bank should cut rates at its meeting at the end of the month. "I'm going into the meeting open-minded, but I'm agnostic at this point on whether we should be taking action at the October meeting," Kaplan said in comments to reporters after a talk in Washington. Kaplan said he had been a strong proponent of the two rate cuts so far this year but now was open to the idea that the central bank could take some time to assess the economy and the stimulus from those two moves. The Dallas Fed president said that businesses were cutting back on plans due to trade uncertainty but haven't taken the next step of actively cutting back on their workforce. Asked about the market pricing in an 85% chance of a cut by the end of October, Kaplan said it was not his job to do what investors expect. Kaplan said that he had penciled in one more rate cut by the end of 2020 but said this could change. There are downside risks to this forecast, he said. Kaplan is not a voting member of the Fed interest-rate committee this year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


18. Walmart to record $2.2 billion charge related to 'buy-in' to secure Asda pensionПт., 18 окт.[−]

Walmart Inc. disclosed Friday that it will record a $2.2 billion charge to earnings, after the retail behemoth's U.K. subsidiary Asda Group Ltd. announced a plan to secure the benefits of members of Asda's pension. Walmart and Asda said the plan secures a ?3.8 billion ($4.9 billion) "buy-in" in anticipation of a full "buy-out" of the pension scheme, and will be enabled by a one-off final pension contribution by Asda of about ?800 million ($1 billion). After the buy-in, pension members will be provided individual annuity policies issued by Rothesay Life, which will be responsible for paying benefits in full. Walmart's stock, which rose 0.4% in morning trading, has rallied 29.2% year to date, while the Dow Jones Industrial Average has gained 15.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


19. Altria stock upgraded to neutral from sell at Citigroup as analysts bet cigarettes will benefit from vape crackdownПт., 18 окт.[−]

Shares of Altria Group Inc. rose before paring those gains, after Citigroup upgraded the stock to neutral from sell and said it expects cigarettes will benefit from the negative publicity and regulatory crackdown that has been sparked by the vaping-related lung illness that has swept the U.S. The disease has killed at least 33 people and sickened 1,479, according to the latest data from the Centers for Disease Control and Prevention. "The stock is below our target and we think it no longer looks expensive relative to overseas peers," analysts wrote in a note to clients. "Unfortunately we expect the short-term newsflow (on FDA regulation and earnings) to be difficult." Citigroup is expecting the FDA's flavor ban to be harsh and to include a ban on mint and menthol, posing a challenge to Juul, the e-cigarette maker in which Altria owns a 35% stake. Altria is expected to report third-quarter earnings on Oct. 31 and Citi is expecting a 7% decline in underlying cigarette volumes, but an 11% decline in shipments. Altria stock was last down 0.2% and has fallen 11% in 2019, while the Dow Jones Industrial Average , which counts it a member, has gained 15% and the S&P 500 has gained 19%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


20. Beyond Meat stock slides after CFRA initiates at sell with competition risingПт., 18 окт.[−]

Beyond Meat Inc. stock fell 5.2% in Friday trading after the plant-based meat company was initiated at sell at CFRA with a $120 12-month target. Analyst Arun Sundaram expects Beyond Meat to face increased competition from large food companies. Tyson Foods Inc. and Kellogg Co. are among the businesses that have entered the space with their own plant-based alternatives. "We think larger packaged food companies will end up as the category leaders in the space given their vast global footprint and embedded relationships throughout the supply chain," CFRA said. Beyond Meat stock has tumbled 34.6% over the last three months while the S&P 500 index is up 19.4% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


21. Green Organic Dutchman shares slide 4.7% after company says to cut financing needsПт., 18 окт.[−]

The Green Organic Dutchman Holdings Ltd. said Friday it is planning to reduce its financing needs while maintaining a path to profitability, as it struggles with a slower legal market conversion than originally expected. The Toronto-based cannabis company said earlier in October that it was reviewing financing options for the funds needed to complete construction of faciities in Ancaster, Ontario and Valleyfield, Quebec, after the financing on offer was prohibitively expensive. The company has now hired an adviser and plans to scale back its selling, general and administrative expenses and adopt a new construction and operating plan. The Ancaster plant is now complete and the the Quebec facility will be built in smaller phases. The company estimates that it needs C$70 million ($53 million) to C$80 million between now and the end of the second quarter of 2020 to carry out the plan. "With the current Canadian legal market being smaller than initially anticipated, mainly due to a slow rollout of retail locations in key provinces, we believe that our revised plan will allow TGOD to right size its production to capture the organic segment, while maintaining optionality to quickly accelerate and expand as more retail locations begin to open," Chief Executive Brian Athaide said in a statement. U.S.-listed shares fell 4.7% on the news and are down 44% in 2019. The ETFMG Alternative Harvest ETF has fallen 19% in 2019, while the S&P 500 has gained 19%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


22. Gildan stock down 26%, shares downgraded after profit warningПт., 18 окт.[−]

Gildan Activewear Inc. stock plummeted 26.1% in Friday trading after the apparel company issued a profit warning, cut its guidance, and was downgraded to hold from buy at Stifel. Analysts also cut their price target to $30 from $44. Gildan said it expects to report earnings per share of 51 cents for the third quarter and adjusted EPS of 53 cents, both down 7% year-over-year. And sales are expected to be $740 million, 2% lower than 2018. EPS was expected to be flat and sales were expected to grow in the mid-single-digit range. "The magnitude of the Q3 shortfall and fiscal year 2019 guidance is striking, particularly given that the outlook was reaffirmed August 2," analysts wrote. "While appreciative of best-in-class infrastructure, evidence of category issues challenge the case for revenue growth and the associated rate of margin expansion and earnings improvement." Gildan will report its third-quarter results on Oct. 30. The stock is down 13% for the year to date while the S&P 500 index is up 19.6% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


23. Snap stock rises after Bank of America turns bullishПт., 18 окт.[−]

Shares of Snap Inc. are up 1.3% in Friday morning trading after Bank of America Merrill Lunch analyst Justin Post upgraded the stock to buy from neutral. He said that Wall Street "appears to be concerned on high 3Q [daily-active-user] growth expectations" but that he's less concerned given his projection for strong international Android downloads and better engagement with Discover content on the platform. With the launch of eight new Snap shows this fall, Post has increased conviction that Snap will be able to boost its average revenue per user as it benefits from the secular shift of TV ad dollars to online platforms. Post has an $18 price objective on the stock, which has climbed 154% so far this year as the S&P 500 has increased 20%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


24. KushCo stock falls after Benchmark downgrade on concerns vaping-related lung illness will hurt salesПт., 18 окт.[−]

Benchmark downgraded the shares of Californian cannabis company KuschCo Holdings Inc. to speculative buy from buy on Friday, and said it expects the still unexplained vape-related lung illness that has killed at least 33 people and sickened 1,479 more to weigh on financial performance. Analyst Mike Hickey cut his stock price target to $5 from $7 and said "elevated regulatory risk" is another potential pressure for the maker of vapes, packaging and other accessories. The stock has fallen 75% in 2019, while the ETFMG Alternative Harvest ETF has fallen 20% and the S&P 500 has gained 19.6%. "We are positive longer term, as we note the vast majority of the THC related vape illness has come from black market; which could accelerate legal cannabis market regulation," the analyst wrote in a note to clients. "Near term, we are cautious over potential bans on the sale of vaping products, as was the view from Massachusetts that has enacted a 4-month block of all sales of e-cigarettes and supplies, including those for nicotine and cannabis." KushCo shares were down 0.8% in early trade.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


25. Dow breaks slightly lower at Friday's open as J&J's stock weighs on blue chipsПт., 18 окт.[−]

US stocks on Friday headed slightly lower but benchmarks were set to post a second straight week of gains on quarterly corporate results that have thus far come in better than expected. The Dow Jones Industrial Average off 45 points, or 0.2%, at 26,982 was weighed by a decline in shares of Johnson & Johnson after the blue-chip component and consumer-products and drug company said it was recalling "a single lot" of Johnson's Baby Powder after tests revealed traces of chrysotile asbestos. Meanwhile, other Dow components Coca-Cola shares climbed after the beverage and snacks company matched expectations and sales rise slightly more than anticipated and American Express Co.'s shares rose slightly after it also produced better-than-expected results. The S&P 500 index was off less than 0.1% at 2,997, while the Nasdaq Composite Index was down 0.1% at 8,151. Separately, a recent report showed that China's economy grew 6% in the quarter as business activity decelerated. Friday's action comes after the U.S. Trade Representative's office confirmed late Thursday that tariffs on $7.5 billion of European goods will take effect Friday. Investors will be awaiting speeches from Federal Reserve members, offering the last time for the officials to speak before a blackout period starting on Saturday. Vice Chairman Richard Clarida was slated to speak at a conference at 11:30 a.m. Eastern Time in Boston. Ahead of that a number of other speakers will talk, including Kansas City Federal Reserve Bank President Esther George and Dallas Fed President Robert Kaplan at 10 a.m.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


26. Johnson & Johnson's stock drops after baby powder recallПт., 18 окт.[−]

Shares of Johnson & Johnson swung to a 2.6% decline in premarket trading Friday, after the consumer products and drug company said it was recalling "a single lot" of Johnson's Baby Powder after tests revealed traces of chrysotile asbestos. The stock was trading up about 0.2% ahead of the recall announcement. The company said it initiated the voluntary recall "out of an abundance of caution" after the Food and Drug Administration found "sub-trace" levels of asbestos in samples from a single bottle purchased from an online retailer, and has initiated a "rigorous and thorough" investigation into the matter. J&J said it can't confirm whether the tested product is authentic or counterfeit, or whether the sample was prepared in a controlled environment. The recall comes after J&J received subpoenas earlier this year seeking documents related to the safety of its baby power and other talc-containing products, following at least 13,000 lawsuits claiming the products caused cancer. On Thursday, the company said said rigorous tests of its talc have found not asbestos. The stock has gained 5.5% year to date through Thursday, while the Dow Jones Industrial Average has gained 15.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


27. Kansas City Southern's stock surges toward another record after profit, revenue beatsПт., 18 окт.[−]

Shares of Kansas City Southern shot up 4.9% toward a record high in premarket trading Friday, after the railroad company reported a rise in profit and revenue to above analysts' expectations, fueled by increased refined fuel products and liquid petroleum gas shipments to Mexico. Net income increased to $180.1 million, or $1.81 a share, from $173.5 million, or $1.70 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose 24% to $1.94, above the FactSet consensus of $1.79. Revenue grew 7% to $747.7 million, beating the FactSet consensus of $734.9 million. Chemicals and petroleum revenue rose 21%, agriculture and minerals revenue increased 15%, industrial and consumer products revenue grew 2% and intermodal revenue edged up 1%, while energy revenue fell 11% and automotive revenue dropped 2%. The stock, which closed Thursday at a record high ($135.42) for a third-straight session, has shot up 14.8% over the past three months, while the Dow Jones Transportation Average has slipped 0.4% and the Dow Jones Industrial Average has eased 0.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


28. Gentex stock slips premarket after company cuts full-year guidanceПт., 18 окт.[−]

Gentex Corp. shares fell 2.1% in premarket trade Friday, after the supplier of digital vision, connected car, dimmable glass and fire protection technologies beat estimates for the third quarter but cut guidance for its full year. Zeeland, Michigan-based Gentex said it had net income of $111.9 million, or 44 cents a share, in the quarter, up from $111.3 million, or 42 cents a share, in the year-earlier period. Sales rose to $477.8 million from $460.3 million. The FactSet consensus was for EPS of 42 cents on sales of $474 million. The company said the strike at General Motors Co. shaved about 2% off sales. "For much of the year, actual light vehicle production levels have fallen well short of estimates and this trend unfortunately continued in the third quarter of 2019," chief Executive Steve Downing said in a statement. He said gross margins improved by 10 basis points, despite the headwind of tarffis and their costs. The company is now expecting full-year sales of $1.84 billion to $1.87 billion, down from July guidance of $1.87 billion to $1.90 billion. Shares have gained 36.5% in 2019 through Wednesday, while the S&P 500 has gained 19.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


29. ManpowerGroup stock falls after revenue miss, downbeat profit outlookПт., 18 окт.[−]

Shares of ManpowerGroup shed 2.1% in premarket trading Friday, after the provider of workforce services reported third-quarter revenue that missed expectations, and provided a fourth-quarter profit outlook that was below forecasts. Net income fell to $146.1 million, or $2.42 a share, from $158.0 million, or $2.43 a share, in the same period a year ago. The results included an accounting gain related to the July 10 initial public offering on the Hong Kong Stock Exchange of a joint venture in China. The FactSet consensus for net earnings per share was $1.94. Revenue fell 3.1% to $5.25 billion, below the FactSet consensus of $5.33 billion, as Americas revenue rose 2.0%, Southern Europe revenue fell 5.4% and Northern Europe revenue dropped 10.1%. The company expects fourth-quarter EPS of $2.00 to $2.08, below the FactSet consensus for net EPS of $2.17. "The global economic environment continues to be uncertain, leading to uneven market conditions as economic growth slows but labor markets remain tight and skills shortages high," said Chief Executive Jonas Prising. The stock has lost 4.8% over the past three months through Thursday, while the S&P 500 has edged up 0.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


30. American Express stock surges after earnings rise above forecasts, amid higher card member spendingПт., 18 окт.[−]

Shares of American Express Co. surged 2.1% premarket after the credit card and travel services company reported a third-quarter profit and revenue that rose above expectations, citing higher card member spending, net interest income and card fees. Net income rose to $1.76 billion, or $2.08 a share, from $1.65 billion, or $1.88 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share of $2.08 topped the FactSet consensus of $2.03. Revenue increased 8% to $10.99 billion, above the FactSet consensus of $10.94 billion. Within the company's business segments, consumer services revenue rose 11% to $5.4 billion, commercial services grew 7% to $3.4 billion and merchant and network services revenue increased 5% to $1.7 billion. Looking ahead, AmEx expects 2019 adjusted EPS of $7.85 to $8.35, which surrounds the FactSet consensus of $8.01. "The trends we saw in the business this quarter continue to be consistent with an economy that continues to grow, albeit at a more modest pace than last year," said Chief Executive Steve Squeri. The stock has lost 7.2% over the past three months, while the SPDR Financial Select Sector has slipped 0.1% and the Dow Jones Industrial Average has eased 0.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



 
Каталог RSS-каналов (лент) — RSSfeedReader
Всего заголовков: 30
По категориям:
Все заголовки
По датам:
Все заголовки
2019-10-18, Пт. (30)
По авторам:
Все заголовки