Breaking Stock Market and Financial News

U.S. lawmakers to press intel chiefs on Russia ahead of Comey hearing

Top Reuters News - Wed, 06/07/2017 - 01:35
WASHINGTON (Reuters) - Top U.S. intelligence officials will face questions on the Federal Bureau of Investigation's probe into Russian involvement in the 2016 U.S. election and fallout from the firing of former FBI director James Comey when they appear at a Senate hearing on Wednesday.

Goldman Sachs boost rates for savers in bid to attract deposits

Top Reuters News - Wed, 06/07/2017 - 00:05
(Reuters) - U.S. savers who routinely scour personal finance sites for the best deposit rates are soon going to see an unusual bank at the top of the list: Goldman Sachs Group Inc .

Delaware House votes to guarantee abortion rights, in stance against Trump

Top Reuters News - Tue, 06/06/2017 - 21:03
(Reuters) - The Delaware legislature on Tuesday approved a bill that would guarantee abortion access, taking the stance after President Donald Trump pledged to upend the U.S. Supreme Court ruling that allows the procedure nationally.

Cautious Comey expected in U.S. hearing on Trump-Russia probes

Top Reuters News - Tue, 06/06/2017 - 20:37
WASHINGTON (Reuters) - Former FBI chief James Comey will likely hold back from accusing President Donald Trump of trying to interfere with an investigation into links between Trump's election campaign team and Russian officials when he testifies in Congress this week, legal sources said.

Brazil court opens case that could unseat President Temer

Top Reuters News - Tue, 06/06/2017 - 20:06
BRASILIA (Reuters) - Brazil's top electoral court (TSE) reopened a case on Tuesday about illegal campaign funding by the Rousseff-Temer ticket that could annul their 2014 election victory and unseat President Michel Temer.

Suspect in Oregon train stabbings indicted for murder

Top Reuters News - Tue, 06/06/2017 - 19:30
PORTLAND, Ore. (Reuters) - An Oregon grand jury on Tuesday returned a 15-count indictment against an ex-convict accused of harassing two African-American girls, one wearing a Muslim head scarf, then stabbing three men who intervened, killing two of them, aboard a Portland commuter train.

U.S. says China likely to build more overseas bases, maybe in Pakistan

Top Reuters News - Tue, 06/06/2017 - 19:04
WASHINGTON (Reuters) - A Pentagon report released on Tuesday singled out Pakistan as a possible location for a future Chinese military base, as it forecast that Beijing would likely build more bases overseas after establishing a facility in the African nation of Djibouti.

Tesla shareholders keep company's board terms staggered

MarketWatch Market Pulse - Tue, 06/06/2017 - 17:55

Tesla Inc. shareholders late Tuesday kept the company's board classified, with board members' terms staggered. A proposal, brought forth by institutional investors, including state pension funds, had called for the election of all seven members yearly. Tesla had opposed that proposal, saying the staggered terms allow directors to focus on the long-term health of the company. Shares of Tesla rose 0.4% late Tuesday after ending the day at a fresh record high of $352.85.

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U.S. soccer greats cheer Nebraska girl barred after mistaken as boy

Top Reuters News - Tue, 06/06/2017 - 16:53
(Reuters) - Pixie haircuts may be the new rage on the girl's soccer field now that superstar Mia Hamm cheered an 8-year-girl whose Nebraska team was booted from a tournament after officials insisted she was a boy.

Shares of Tommy Bahama parent Oxford Industries fall after earnings miss

MarketWatch Market Pulse - Tue, 06/06/2017 - 16:50

Shares of Oxford Industries Inc. fell more than 4% late Tuesday after the clothing company behind brands such as Tommy Bahama and Lilly Pulitzer reported adjusted fiscal first-quarter earnings and sales below expectations. The company said it earned $17.2 million, or $1.03 a share, in the quarter, compared with $20.2 million, or $1.21 a share, in the year-ago period. Adjusted for one-time items, the company earned $1.12 a share, compared with $1.26 a year ago. Net sales rose to $272.4 million, compared to $256.2 million in the first quarter of fiscal 2016. Analysts polled by FactSet had expected adjusted earnings of $1.04 a share on sales of $274 million. Oxford Industries said it expects net sales in a range of $285 million to $295 million for the next quarter, compared with net sales of $283 million in the second quarter of fiscal 2016.

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Keysight Tech shares rally to record as profit beats Street view

MarketWatch Market Pulse - Tue, 06/06/2017 - 16:45

Keysight Technologies Inc. shares rallied in the extended session Tuesday after the maker of electronic measurement instruments topped Wall Street estimates for the quarter. Keysight shares surged 7.6% to $43.31 after hours, following a record close of $40.25 Tuesday. The company, which was spun off from Agilent Technologies Inc. in 2014, reported adjusted fiscal second-quarter earnings of 64 cents a share on revenue of $753 million. Analysts surveyed by FactSet had estimated earnings of 57 cents a share on revenue of $750 million. Keysight expects third-quarter revenue of $810 million to $850 million, while analysts estimate $841.8 million.

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API data reportedly show fall in U.S. crude supply, rise in product stocks

MarketWatch Market Pulse - Tue, 06/06/2017 - 16:45

The American Petroleum Institute reported Tuesday a fall of 4.6 million barrels in U.S. crude supplies for the week ended June 2, according to sources. The API data, however, also showed a climb of 4.1 million barrels in gasoline supplies, while inventories of distillates were up 1.8 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts forecast a decline of 3.5 million barrels in crude inventories. July crude was at $47.97 a barrel in electronic trading, down from the contract’s settlement of $48.19 on the New York Mercantile Exchange.

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After warnings, U.S. wages new strike on pro-Syria government forces

Top Reuters News - Tue, 06/06/2017 - 16:33
WASHINGTON (Reuters) - The United States launched an air strike on Tuesday against Iranian-backed fighters it said posed a threat to U.S. and U.S.-backed forces in southern Syria, in a new escalation of tensions between Washington and troops supporting Damascus.

Uber fires 20 employees after harassment probe: sources

Top Reuters News - Tue, 06/06/2017 - 16:31
SAN FRANCISCO (Reuters) - Uber Technologies Inc [UBER.UL] has fired 20 employees following an investigation by a law firm into sexual harassment and other claims at the ride-hailing company, people familiar with the matter said on Tuesday.

Ambarella drops after earnings include weaker-than-expected forecast

MarketWatch Market Pulse - Tue, 06/06/2017 - 16:23

Ambarella Inc. shares slipped more than 6% Tuesday afternoon following an earnings report that beat expectations but projected the current quarter's results lower than analysts expected. The company, which makes components for cameras and is a major supplier for GoPro Inc. , reported net income of $2.6 million, or 7 cents a share, on revenue of $64.1 million for its fiscal first quarter. After subtracting stock-based compensation and adjusting for other factors, Ambarella claimed profit of 39 cents a share. Analysts on average expected Ambarella to report adjusted earnings of 36 cents a share on sales of $63.5 million, according to FactSet. Ambarella's forecast for the current quarter calls for revenue of $69 million to $72 million and a sequential decline in gross margin, to a range of 62% to 63.5%, after an adjusted margin of 64.3% in the first quarter. Analysts on average expected revenue of $72.3 million, FactSet reported. Shares declined nearly 6% in immediate late trading following the report's release, dropped lower than $56.50 after closing with a 1.3% gain at $59.72.

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Dave & Buster's shares slide even as earnings top Street view

MarketWatch Market Pulse - Tue, 06/06/2017 - 16:20

Dave & Buster's Entertainment Inc. shares declined in the extended session Tuesday even after the entertainment and dining chain topped Wall Street estimates and slightly raised its outlook. Dave & Buster's shares fell 3.4% to $67.84 after hours. The company reported adjusted fiscal first-quarter earnings of 87 cents a share on revenue of $301.1 million. Analysts surveyed by FactSet had estimated earnings of 81 cents a share on revenue of $300 million. For the year, Dave & Buster's sees revenue of $1.16 billion to $1.17 billion, while analysts expect revenue of $1.16 billion.

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Carvana shares jump after first-quarter earnings beat

MarketWatch Market Pulse - Tue, 06/06/2017 - 16:18

Shares of Carvana Co. , a platform for buying used cars, shot up 5% after hours Tuesday after the company beat first-quarter earnings expectations in its first report as a public company. Carvana reported a net loss $38.4 million, or a loss of 44 cents per share, compared to a net loss of $17.3 million in the year-earlier period. It reported an adjusted loss per share of 28 cents. Analysts surveyed by FactSet had expected a loss per share of 29 cents. Revenue was $159.1 million, up from $72.9 million in the year-earlier period and above the FactSet consensus of $158.2 million. For the second quarter, the company expects revenue in the range of $193 million to $203 million, compared to the FactSet estimate of $184.4 million. Shares of Carvana have fallen 12.7% in the past month, while the S&P 500 has gained 1.2%.

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Exact Sciences stock falls after share offering

MarketWatch Market Pulse - Tue, 06/06/2017 - 16:11

Shares of Exact Sciences Corp. fell more than 3% Tuesday after the company said it entered an agreement with Jefferies LLC, Bank of America Merrill Lynch, and Robert W. Baird & Co. to sell 7 million shares of its common stock. The underwriters will also have an option to buy additional shares. The company intends to use the net proceeds of this offering to fund its expansion, including to increase laboratory, manufacturing and customer service capacity, to fund product development efforts, and for general corporate and working capital purposes, it said in a statement. Shares had ended the regular session down 1.3%.

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Stocks close lower as consumer-discretionary, industrial sectors weigh

MarketWatch Market Pulse - Tue, 06/06/2017 - 16:05

U.S. stocks closed lower Tuesday for a second session as investors exercised caution ahead of the U.K. elections and political uncertainties over former Federal Bureau of Investigation director James Comey's testimony this week. The Dow Jones Industrial Average finished down 47.81 points, or 0.2%, at 21,136.23, led lower by shares of Wal-Mart Stores Inc. and Boeing Co. . The S&P 500 index finished down 6.77 points, or 0.3%, at 2,429.33, with the consumer-discretionary sector down 0.8% and the industrials sector falling 0.6%. The Nasdaq Composite Index closed down 20.63 points, or 0.3%, at 6,275.06.

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Trump says ahead of former FBI Director Comey's testimony: 'I wish him luck'

Top Reuters News - Tue, 06/06/2017 - 15:49
WASHINGTON (Reuters) - President Donald Trump had a brief message for former FBI Director James Comey on Tuesday ahead of Comey's Thursday testimony to the U.S. Congress on his conversations with Trump about Russia."I wish him luck," Trump told reporters as he met with Republican congressional leaders.

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