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1. Groupon plans reverse-stock split, names new CFO02:22[−]

Groupon Inc. shares were down 25% in extended trading Tuesday after the online marketplace reported disappointing fourth-quarter revenue and said it planned to exit the Goods category so it can focus on the $1 trillion "local experiences" market. The company also named Melissa Thomas its chief financial officer, and said it plans to pursue a reverse-stock split to boost the price of its stock. Groupon reported net income of $77 million, or 13 cents a share, in the quarter, compared with net income of $46.2 million, or 8 cents a share, in the year-ago fourth quarter. Revenue plunged 23% to $612.3 million from $799.9 million a year ago. Analysts surveyed by FactSet had expected earnings of 12 cents a share on sales of $705 million. Groupon shares are down 13% over the last 12 months. The S&P 500 index has gained 21% ocer the past year.

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2. Analog Devices board hikes dividend 15%01:29[−]

Analog Devices Inc. said late Tuesday its board hiked the quarterly dividend by 15%. The integrated circuit company said it will pay a dividend of 62 cents a share, up from 54 cents a share, on March 10 to shareholders of record as of Feb. 28. Analog Devices shares were flat after hours, following an 0.8% rise to close at $118.57.

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. Blue Apron eyes strategic alternatives, cost cuts after missing earnings estimates00:54[−]

Blue Apron Holdings Inc. shares dipped 1% in after-hours trading Tuesday after the ingredient-and-recipe meal kit service reported fourth-quarter earnings that fell short of Wall Street expectations. The struggling company said it is reviewing strategic alternatives and cutting costs, including the planned closure of its Arlington, Texas, facility and consolidation of production volume into its New Jersey and California facilities. Blue Apron reported a loss of $21.9 million, or $1.66 a share, in the quarter, compared with a loss of $23.7 million, or $1.83 a share, in the year-ago fourth quarter. Revenue sank 33% to $94.3 million from $140.7 million a year ago. Analysts surveyed by FactSet had expected a loss of $1.60 a share on sales of $97.7 million. Blue Apron shares have plummeted 80% over the last 12 months. The broader S&P 500 index has gained 21% in the last 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.


4. Nike remakes executive suite under new CEO00:51[−]

Nike Inc. announced a shakeup in the executive suite Tuesday, after the company welcomed in a new chief executive late last year. Nike said that Chief Operating Officer Eric Sprunk and President of Consumer and Marketplace Elliot Hill issued their resignations on Feb. 12. Andrew Campion, who has served as Nike's chief financial officer, will take over as COO, while Matthew Friend will replace him as CFO, Nike said. Heidi O'Neill will assume the role of head of consumer and marketplace. The executives will assume their new positions on April 1, Nike said, and Hill and Sprunk will remain with the company until later this year. The changes come after Nike named former ServiceNow Inc. and eBay Inc. Chief Executive John Donahoe as its new CEO late last year. in Tuesday's announcement, Donahoe said the changes "set up the company for continued growth and demonstrate the strength of the Nike management bench."

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. Herbalife stock rises on earnings beat00:50[−]

Herbalife Nutrition Ltd. shares rose in the extended session Tuesday after the supplements company topped Wall Street estimates for the quarter. Herbalife shares rose 4.8% after hours, following a 1.8% decline in the regular session to close at $38.95. The company reported fourth-quarter net income of $56.7 million, or 40 cents a share, compared with $48.9 million, or 34 cents a share, in the year-ago period. Adjusted earnings were 74 cents a share. Revenue rose to $1.22 billion from $1.19 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 63 cents a share on revenue of $1.22 billion. "The extent and duration of business disruption and related financial impact from the coronavirus cannot be reasonably estimated at this time but could materially impact our consolidated results for the first quarter and full year 2020," Herbalife said in a statement. Analysts expect adjusted earnings of 70 cents a share on revenue of $1.22 billion for the first quarter, and $3.10 a share on revenue of $5.13 billion for the 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.


6. Agilent stock slips as coronavirus dings outlook00:27[−]

Agilent Techonologies Inc. shares declined in the extended session Tuesday after the lab instruments maker said its outlook would be impacted by the novel coronavirus. Agilent shares declined 1% after hours, following a 1.2% decline in the regular session to close at $84.79. Agilent expects earnings of 72 cents to 76 cents a share on revenue of $1.28 billion to $1.32 billion, while analysts had forecast earnings of 79 cents a share on revenue of $1.34 billion, "after factoring in the potential impact of the coronavirus disease 2019 (COVID-19)," the company said in a statement. The company reported fiscal first-quarter net income of $197 million, or 63 cents a share, compared with $504 million, or $1.57 a share, in the year-ago period. Adjusted earnings were 81 cents a share. Revenue rose to $1.36 billion from $1.28 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 81 cents a share on revenue of $1.35 billion.

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. LendingClub stock drops as earnings show effects of bank-charter effort00:25[−]

LendingClub Corp. shares declined in late trading Tuesday, after the online-lending company revealed projected weaker-than-expected growth in 2020 as it seeks to become a registered bank. LendingClub revealed a proposed $185 million acquisition of online bank Radius Bancorp along with other changes in its fourth-quarter earnings Thursday afternoon as it seeks to receive a bank charter. The company reported earnings of $200,000, less than a penny a share, on net revenue of $188.5 million, up from $181.5 million a year ago. After adjusting for stock-based compensation and other expenses, the company reported earnings of 8 cents a share. Analysts on average expected adjusted earnings of 4 cents a share on sales of $199.2 million, according to FactSet. LendingClub said that it expected first-quarter net revenue of $170 million to $180 million and full-year 2020 revenue of $790 million to $820 million, short of the average analyst forecast of $198.7 million for the first quarter and $871.5 million for 2020, according to FactSet. Shares dropped as much as 15% immediately after the report was released, though declines soon eased to less than 10%.

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. Stocks end mostly lower after Apple sales warning00:04[−]

U.S. stocks ended mostly lower Tuesday, dragged down after tech giant Apple Inc. warned a day earlier that it wouldn't hit its sales target for the current quarter because the spread of COVID-19 in China was affecting production of and demand for its iPhones. U.S. financial markets were closed Monday for the Presidents Day holiday. The Dow Jones Industrial Average fell around 166 points, or 0.6%, to end near 29,232, according to preliminary figures, while the S&P 500 lost around 10 points, or 0.3%, to close near 3,370. The Nasdaq Composite rose by a little more than 1.5 points, or less than 0.1%, to finish near 9,733, eking out a record close. Shares of Dow component Apple fell 1.8%.

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. EIA forecasts U.S. shale oil output to climb by 18,000 barrels a day in MarchВт, 18 фев[−]

Crude-oil production from seven major U.S. shale plays is forecast to climb by 18,000 barrels a day in March to 9.175 million barrels a day, according to a report from the Energy Information Administration released Tuesday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see an increase of 39,000 barrels a day in March from February. Shale oil output from the Anadarko, Appalachia, Bakken and Niobrara regions, however, are expected to see monthly declines, the report showed. The data were released around the time of the New York Mercantile Exchange settlement for oil futures. March West Texas Intermediate oil settled unchanged for the session at $52.05 a barrel.

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. Facebook cancels global marketing summit because of COVID-19 concernsВт, 18 фев[−]

Facebook Inc. is the latest tech company to pull the plug on an event because of COVID-19. "Our priority is the health and safety of our teams, so out of an abundance of caution, we cancelled our Global Marketing Summit due to evolving public health risks related to coronavirus," a Facebook spokesman said in an email to MarketWatch late Friday. The marketing summit was to take place next month in San Francisco. Previously, Facebook dropped out of Mobile World Congress, one of the largest and best-known telecommunications conferences in the world, for the same reason, leading to the show's cancellation. Among other companies to drop out of MWC out of health concerns were AT&T Inc. , Intel Corp. , Sony Corp. , and Amazon.com Inc. [s:AMZN]. Late Friday, International Business Machines Corp. said it was skipping the RSA security conference in San Francisco later this month because of COVID-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.


11. Apple's coronavirus profit warning weighs on chip supplier stocksВт, 18 фев[−]

Shares of companies that supply Apple Inc. fell Tuesday after the iPhone maker issued a profit warning Monday because of COVID-19, the disease cause by the novel coronavirus. Apple shares fell more than 2% Tuesday after the iPhone maker said it will miss quarterly revenue targets because of the outbreak. The announcement hit shares of chip suppliers with the PHLX Semiconductor Index falling 1.8% Tuesday. Shares of Micron Technology Inc. declined 1.5%, Qualcomm Inc. shares fell 1.8%, Skyworks Solutions Inc. shares fell 2%, Qorvo Inc. dropped 2.7%, Cirrus Logic Inc. shares fell 3%, Broadcom Inc. shares fell 2.1%, and Intel Corp. shares were down 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.


12. Trump commutes sentence of former Illinois Gov. BlagojevichВт, 18 фев[−]

President Donald Trump has commuted the sentence of former Democratic Illinois Gov. Rod Blagojevich. Blagojevich had been serving time on multiple federal corruption convictions related to trying to personally profit from his power to fill the Senate seat vacated by former President Barack Obama. Trump previously had indicated that he was reviewing the possibility of commuting Blagojevich's sentence.

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. Gold futures mark highest settlement since March 2013Вт, 18 фев[−]

Gold futures rallied on Tuesday to log their highest finish since late March 2013, with analysts attributing the rise to expectations for central bank stimulus as the spread of COVID-19 raised concerns about the global economy. April gold rose $17.20, or 1.1%, to settle at $1,603.60 an ounce. That was the highest most-active contract settlement since March 27, 2013, FactSet data show.

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. NMC says it remains 'disappointed' in Shetty's ownership disclosureВт, 18 фев[−]

NMC Health , the Middle Eastern hospital operator that's part of the FTSE 100 and a target of short-seller Muddy Waters, said its board "remains disappointed" in the disclosures made by Dr Bavaguthu Raghuram Shetty on his ownership. The company said it's not able to independently verify the information received from Shetty, the company's alleged top shareholder who on Monday stepped down as chairman. "The Board continues to encourage Dr Shetty and his advisers to ascertain the correct legal position in relation to his ownership of Ordinary Shares without further delay," the company said in a statement.

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. China marketing company Acorn shares hit as exec chair pulls bid over coronavirus fearsВт, 18 фев[−]

U.S.-listed shares of China brand and marketing company Acorn International Inc. slid 10% Tuesday, after its executive chairman said he was pulling an offer for the company made in November because of risks relating to the coronavirus. Robert Roche said in a letter to the Shanghai-based company that he and shareholders of a buyer vehicle were not willing to pursue a $19.50 per American Depositary Share offering made in a Nov. 4 letter. The parties are willing to continuing talks with a special committee formed to review the offer. "No additional terms or proposals have been discussed at this time and there can be no assurance that negotiations will continue or that a revised offer will be made, that any agreement related to the Acquisition will be reached, or that the Acquisition or any other similar transaction will be consummated," said the letter. Shares have fallen 42% in the last 12 months, while the S&P 500 has gained 22%.

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. Macy's stock takes a dive after S&P cuts credit to 'junk'Вт, 18 фев[−]

Shares of Macy's Inc. took an midday dive Tuesday, after S&P Global Ratings downgraded the department store chain's credit to "junk" status, citing a weaker profitability outlook after the company unveiled its three-year strategic plan. The stock was down 3.9%, after being down about 1.4% prior to the downgrade. S&P cut its rating one notch to BB+, which is the highest speculative grade rating, from BBB-. The rating's outlook is stable. S&P said Macy's three-year "Polaris" plan, which includes a significant reduction of the store network, focus on growth in private label brands and off-price stores and cost cutting, has "considerable" execution risks. "While we believe management's strategic plan is a necessary step toward rightsizing the enterprise, it demonstrates to us that the company's competitive advantage has diminished more than we expected, and to a point that we no longer believe is consistent with an investment-grade rating," S&P wrote in a research note. "We now project operating performance will deteriorate over the next several quarters, with declines in comparable same-store sales." Fellow rating agencies Moody's Investors Service rates Macy's at Baa3, the lowest investment-grade rating, and said last week that the strategic plan was "credit positive." Macy's stock has lost 5.1% over the past three months, while the SPDR S&P Retail ETF has eased 0.1% and the S&P 500 has gained 7.8%.

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. PSE&G raises quarterly dividend, boosting implied yield to 3.3%Вт, 18 фев[−]

Public Service Enterprise Group Inc. , known as PSE&G, said Friday it raised its quarterly dividend by two cents to 49 cents a share. The new dividend will be payable March 31 to shareholders of record on March 10. The electric and gas utility company's stock rose 0.6% in midday trading. Based on current stock prices, the stock new annual dividend rate would imply a dividend yield of 3.33%, compared with the yield for the SPDR Utilities Select Sector ETF of 2.69% and the implied yield for the S&P 500 of 1.80%, according to FactSet. PSE&G's stock has lost 3.6% over the past three months, while the utilities ETF has run up 12.7% and the S&P 500 has gained 7.6%.

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.


18. Conagra shares sink 7% after downward guidance revisionВт, 18 фев[−]

Conagra Brands Inc. stock sank 7.7% in Tuesday trading after the food company announced a downward revision to its fiscal 2020 guidance. Conagra now expects organic net sales growth to be flat to up 0.5% and adjusted earnings per share to be $2.00 to $2.07. Previous guidance was for 1% to 1.5% sales growth and adjusted EPS of $2.07 to $2.17. The FactSet consensus is for sales of $10.66 billion, implying a 2.4% increase, and EPS of $2.08. "Consumption softness in the quarter first emerged in the foodservice industry, with holiday restaurant traffic weaker than last year," said Chief Executive Sean Connolly in a statement. "Softness pivoted to retail in January and impacted numerous categories across food, including several in which we compete." Conagra presented at the Consumer Analyst Group of New York Conference on Tuesday, and is scheduled to report fiscal third-quarter earnings on March 19. Conagra Brands portfolio includes Healthy Choice, Birds Eye, Slim Jim and Vlasic. Conagra stock has gained 23.2% over the last 12 months while the S&P 500 index is up 21% 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.


19. Dell's deal to sell RSA to investor group is confirmedВт, 18 фев[−]

An investor group announced Tuesday morning a deal to buy Dell Technologies Inc.'s RSA cybersecurity business for $2.08 billion in cash. That confirms a Wall Street Journal report that said a deal was imminent. The investor group buying RSA is led by Symphony Technology Group, Ontario Teachers' Pension Plan Board and AlpIvnest Partners. The deal is expected to close in the next six to nine months. Morgan Stanley was the exclusive financial advisor to Dell, and UBS and Jefferies were the financial advisors to Symphony Technology Group. Dell's stock fell 0.2% in morning trading. It has lost 5.1% over the past three months, while the S&P 500 has gained 7.9%.

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.


20. Rosneft sanctioned by Treasury for supporting Maduro regimeВт, 18 фев[−]

The Trump administration on Tuesday announced sanctions on Rosneft Trading S.A., a unit of Rosneft Oil Co. over operating in Venezuela's oil sector. Treasury Secretary Steven Mnuchin said Rosneft Trading and its president brokered the sale and transport of Venezuelan crude oil, aiding the regime of Venezuelan President Nicolas Maduro. The Trump administration considers Maduro illegitimate. The sanctions freeze any U.S.-based assets of both Rosneft Trading and its president, Didier Casimiro.

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. Sanofi to work on coronavirus vaccineВт, 18 фев[−]

Shares of Sanofi ADR were up 1% in trading on Monday after the French drugmaker announced plans to work on a vaccine for COVID-19, the new coronavirus that has sickened more than 73,000 people and led to the deaths of 1,873. The company said it will leverage previous work on a pre-clinical vaccine for severe acute respiratory syndrome (SARS) while it collaborates with the Biomedical Advanced Research and Development Authority (BARDA) on a COVID-19 vaccine. COVID-19 and SARS are both coronaviruses. A number of large drugmakers including GlaxoSmithKline and Johnson & Johnson have said they are also working on vaccines for the virus. Sanofi's stock is up 19% over the past year, while the S&P 500 has gained 23%.

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. Tesla's stock surges after Bernstein nearly doubles price targetВт, 18 фев[−]

Shares of Tesla Inc. jumped 6.8% in premarket trading Tuesday, after Bernstein analyst Toni Sacconaghi nearly doubled his price target, saying he views the electric car maker as the "ultimate 'possibility' stock." Sacconaghi raised his price target to $730, which was still 14% below current levels, from $325, while maintaining the market perform rating he's had for at least the past three years. He said it is difficult to justify Tesla's share price, but he acknowledged that investors are feeling much better about the company's ability to sustain profits; Model 3 demand remains healthy; gross margins and operating expenditures are poised to materially improve; competition is "sputtering"; and production pipelines are "robust." He also said that Tesla's core addressable market is likely to grow by more than 30-fold over the next 20 years, plus the company has "significant addition optionality" through the truck, self-driving, battery technology and solar markets. "We are skeptical that upside possibilities are likely to be expunged any time soon--suggesting no imminent negative catalysts for the stock," Sacconaghi wrote in a note to clients. The stock has more than doubled (up 104%) year to date, while the S&P 500 has gained 4.4%.

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. Lam Research, KLA stocks slip after report says U.S. could restrict chip-equipment sales to ChinaВт, 18 фев[−]

Shares of chip-equipment companies Lam Research Corp. and KLA Corp. are off more than 3% in Tuesday morning trading after a Wall Street Journal report indicated that the Trump administration is considering restricting on semiconductor-equipment sales to China. The Commerce Department is weighing rule changes that would let the agency ask for licenses from any companies that wanted to use U.S. equipment to make chips for Huawei Technologies Co., according to the WSJ report. "This time around, the administration appears to be going after such [semiconductor capital-equipment] vendors like Applied Materials , KLA, Lam Research and Teradyne that sell equipment to the likes of Taiwan Semiconductor ," wrote Susquehanna analyst Mehdi Hosseini. "TSM uses such equipment to make chips for the likes of Apple and Huawei. Perhaps the administration has realized they cannot restrict ASML , the key enabling vendor!" Hosseini said that this potential development, along with the new coronavirus, represent near-term headwinds for chip-equipment companies.

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. Intelsat's stock surges after David Tepper's Appaloosa disclosed new 2.1% stakeВт, 18 фев[−]

Shares of Intelsat S.A. shot up 6.6% in morning trading Tuesday, to bounce off Friday's 2-year closing low, after Appaloosa L.P., the hedge fund overseen by famed billionaire investor David Tepper, disclosed a new 2.9 million-share stake in the maker of communications satellites as of the end of December. The stake, disclosed late Friday, accounts for about 2.05% of Intelsat's shares outstanding, which would make Appaloosa the 11th-largest shareholder. Intelsat stock has tumbled recently, with one analyst saying the Federal Communications Commission Chairman's Ajit Pai plan to free up spectrum for 5G networks would leave "little hope" for Intelsat investors. Separately, Appaloosa disclosed that during the fourth quarter, it sold off the 30,000-share stake it had in Boeing Co. at the end of the third-quarter, that it increased its stake in Micron Technology Inc. by 35% to 8.1 million shares, that it raised its stake in Amazon.com Inc. by 10% to 291,500 shares and that it boosted its stake in Alibaba Group Holding Ltd. by 85% to 2.4 million shares.

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 opens lower after Apple warns of coronavirus hitВт, 18 фев[−]

U.S. stocks opened lower on Tuesday as traders returned from the long holiday weekend to see Apple's statement that it would miss its guidance due to COVID-19, which has kept Chinese workers at home and away from factory floors. The S&P 500 fell 0.3% to 3,370. The Dow Jones industrial Average shed 109 points, or 0.4%, to 29,286. The Nasdaq Composite was down 0.3% to 9,701. On Friday, the S&P 500 and Nasdaq closed at records. Investors are increasingly sensitive to signs that the coronavirus outbreak could disrupt global supply chains, as Chinese factories struggle to return to full-capacity after the Lunar New Year holidays. Apple Inc. warned that it would miss its second-quarter guidance due to the coronavirus. In other news, Franklin Resources , the holding company for Franklin Templeton, said it was buying asset manager Legg Mason.

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. Virgin Galactic's stock soars, heads for another recordВт, 18 фев[−]

Shares of Virgin Galactic Holdings Inc. shot up 11% in active premarket trading Tuesday, after a shareholder disclosed a relatively large stake in the spaceships builder. The stock is on track to set another record high at the open, and to stretch its win streak to seven sessions. The stock, which has run up 55% over the past six sessions, has closed at a record the past five sessions. Park West Asset Management LLC disclosed late Friday that it was the beneficial owner of 4.25 million shares of Virgin Galactic, or 2.1% of the shares outstanding, which would make Park West the seventh largest shareholder, according to FactSet data, up from a prior ranking as 13th. Virgin Galactic had said last week that its VSS Unity spaceship has completed its relocation to Spaceport America in New Mexico, which enables the company to engage in the final stages of its flight test program. The stock has tripled (up 200.9%) over the past three months through Friday, while the S&P 500 has gained 8.3%.

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.


27. PG&E shares slide 2.5% premarket after it posts another big quarterly lossВт, 18 фев[−]

PG&E Corp. shares slid 2.5% in premarket trade Tuesday, after the embattled utility posted another big quarterly loss as it continue to struggle with the fallout from California wildfires that were caused by some of its equipment. The San Francisco-based company said it had a net loss of $3.6 billion, or $6.84 a share, in the quarter, after a loss of $6.9 billion, or $13.24 a share, in the year-earlier period. Excluding charges for third-party claims relating to the 2018 Camp fire, the 2017 Northern California fires and the 2015 Butte fire along with other charges, the company had EPS of 68 cents, ahead of the 66 cents FactSet consensus. It did not offer a revenue number for the quarter. The company said it is on track to have its Chapter 11 plan confirmed by June 30, the deadline for participating in California's new wildfire fund under the terms of Assembly Bill ("AB") 1054. We have resolved essentially every consequential issue within the Bankruptcy Court's jurisdiction, most notably reaching a settlement with wildfire victims," Chief Executive Bill Johnson said in a statement. "Our focus now is on working with all key stakeholders, including elected officials and state regulators, to position PG&E for emergence as a financially stable company with a renewed and rigorous focus on safe operations and customer service, while meeting California's energy needs and goals in a changed climate." Shares have gained 4.7% in the last 12 months, while the S&P 500 has gained 22%.

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. GE's stock falls after WSJ report that Trump administration may block engine sales to ChinaВт, 18 фев[−]

Shares of General Electric Co. dropped 1.8% in premarket trading Tuesday, after The Wall Street Journal reported over the weekend that the Trump Administration is considering a proposal to block GE's joint venture with France-based Safran S.A. from selling jet engines to China. GE's stock is on track for a third-straight decline--it has lost 2.5% over the past two sessions--since closing at a 19-month high of $13.16 on Feb. 12. Citing people familiar with the discussions, the WSJ report said the Trump administration may decline to issue a license that would allow the JV, CFM International, to export more LEAP 1C engines to China, which are being used to in the development of China's Comac C919 jetliner. The administration is concerned that the Chinese would reverse-engineer the engines, which would allow China to break into the jet-engine market, the WSJ report said, while GE is arguing that trying to mimic the advanced manufacturing techniques to produce the engine is a lot harder than some administration officials seem to believe. GE's stock has run up 12.2% over the past three months through Friday, while the Dow Jones Industrial Average has gained 4.9%.

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.


29. Apple set to lose title of most valuable U.S. companies to MicrosoftВт, 18 фев[−]

With Apple Inc. shares falling 3.1% in premarket trading Tuesday, Microsoft Corp. is on track to take back the No. 1 position on the list of the U.S.'s most valuable companies by market capitalization. Microsoft's stock is down 0.2% ahead of the open, which means the software giant is headed toward a market cap of $1.408 trillion at the open, while Apple is on track to open with a market cap of $1.378 trillion. The last time Microsoft closed as the most valuable company was Feb. 11 and Feb. 10, which ended a 67-session run with Apple at No. 1. The companies were still well ahead of third-place Amazon.com Inc. , which closed Friday with at market cap of $1.063 trillion, and fourth-place Alphabet Inc. at $1.044 trillion.

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 Eagle Outfitters shares slide after downgrade on merchandise issues and mall traffic pressureВт, 18 фев[−]

American Eagle Outfitters Inc. stock slid 2% in Tuesday premarket trading after its shares were downgraded to market perform from outperform at Cowen based on merchandise stumbles and mall pressure. Cowen lowered its price target to $14 from $15. American Eagle had execution issues in its tops assortment, which Cowen estimates at about 20% of revenue. It's working through styling and inventory, which analysts say will take time. Moreover, mall traffic could suffer further now that Macy's Inc. has announced more than 100 store closures. Cowen notes that 95% of American Eagle stores are profitable. "While tariff risk has waned, we are concerned around American Eagle's ability to drive sustainable traffic without sacrificing merchandise margin especially in the face of tops' underperformance and general mall traffic headwinds," analysts said. American Eagle stock has fallen 26.2% over the last year while the S&P 500 index has gained 21.8% 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.



 
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