Breaking Stock Market and Financial News

Risk of deeper involvement as U.S. weighs its options in Afghanistan

Top Reuters News - Thu, 04/27/2017 - 19:34
WASHINGTON (Reuters) - As President Donald Trump's administration drafts an Afghanistan policy, U.S. officials are seeking a way to reverse gains by militant groups without wading deeper into a 15-year-long war that has no end in sight.

U.S. Senate confirms Acosta to head Labor Department

Top Reuters News - Thu, 04/27/2017 - 19:22
WASHINGTON (Reuters) - R. Alexander Acosta was confirmed on Thursday by the U.S. Senate to head the Labor Department, making him the first Hispanic member of President Donald Trump's cabinet.

Align Technology shares surge after hours on outlook

MarketWatch Market Pulse - Thu, 04/27/2017 - 18:55

Align Technology Inc. shares rallied in the extended session Thursday after the maker of Invisalign braces issued a forecast above Wall Street estimates. Align shares surged 13% to $135.75 after hours. The company forecast earnings of 71 cents to 74 cents a share on revenue of $340 million to $345 million for the second quarter. Analysts surveyed by FactSet had estimated 71 cents a share on revenue of $324.2 million. For the first quarter, Align reported earnings of 85 cents a share, which included a 26-cents-a-share benefit from excess tax benefits from stock-based compensation, on revenue of $310.3 million. Analysts had estimated 67 cents a share without the benefit on revenue of $297.5 million.

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.

Honeywell shares rally after Third Point takes stake

MarketWatch Market Pulse - Thu, 04/27/2017 - 18:24

Honeywell International Inc. shares rallied in the extended session Thursday after activist investor Daniel Loeb's Third Point LLC said it took a stake in the company and urged it to spin off its aerospace business. Honeywell shares surged 4.4% to $135.65 after hours. In an investor letter, Third Point said Honeywell spinning off the aerospace business could result in an increase of $20 billion in shareholder value. "Spinning off Aerospace would transform Honeywell into an industrial growth company with a focus on automation and productivity," Third Point said in the letter. In a statement, Honeywell said it and its board would would "take the time necessary to ensure a comprehensive, informed and objective review of the potential separation of the Aerospace business."

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.

Trivago shares rise after full-year outlook lifted

MarketWatch Market Pulse - Thu, 04/27/2017 - 18:06

Trivago NV gained in the extended session Thursday after the online hotel booking site raised its outlook for the year following the earnings release of majority shareholder Expedia Inc. . U.S. shares of Düsseldorf, Germany-based Trivago rose 3.8% to $15.80 after hours. "Given our strong start to the year, we have increased our full-year guidance and now expect annual revenue growth to be around 50% in 2017," said Trivago Chief Financial Officer Axel Hefer in a statement. Trivago reports quarterly results on May 15. Expedia shares slipped 2% after hours as the online travel company's earnings missed Wall Street estimates by a penny.

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.

Google has taken 'significant steps' to address YouTube controversy, CEO says

MarketWatch Market Pulse - Thu, 04/27/2017 - 17:28

Google Inc. Chief Executive Sundar Pichai said Thursday that his company has taken "significant steps" to address advertisements appearing on controversial videos on YouTube, owned by Google-parent Alphabet. YouTube came under fire from brands this March after their advertisements had appeared alongside inappropriate content. Google has drawn upon machine learning and other technical solutions to prevent the issue from happening in the future, Pichai said. The company is still in its early stages of combating the issue, but Pichai said it has "made progress." "Advertisers have clearly noticed all the improvements that we've made," Pichai said, later adding that Google had made "thousands and thousands" of calls to advertisers in the past few weeks. Shares of Alphabet were up 4% late Thursday, following the company's first-quarter earnings beat.

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.

Skyworks shares retreat after hours even as results, outlook top Street view

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:40

Skyworks Solutions Inc. shares fell in the extended session Thursday even after the wireless chip supplier's quarterly results and outlook topped Wall Street estimates. Skyworks shares declined 2.6% to $101.50 after hours. The company reported adjusted fiscal second-quarter earnings of $1.45 a share on revenue of $851.7 million. Analysts surveyed by FactSet had estimated earnings of $1.40 a share on revenue of $840.4 million. For the third quarter, Skyworks sees adjusted earnings of $1.52 a share, while analysts estimate $1.49 a share. Shares of Skyworks have rallied nearly 33% since the company's previous earnings report on Jan. 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.

Microsoft shares down more than 2% after revenue miss

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:22

Shares of Microsoft Corp. fell late Thursday after the software company reported quarterly sales below Wall Street expectations. Microsoft said it earned $4.8 billion, or 61 cents a share, in the fiscal third quarter, compared with $3.8 billion, or 47 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $5.7 billion, or 73 cents a share, compared with $5 billion, or 63 cents a share, a year ago. Revenue was $22.1 billion, up from $20.5 billion in the fiscal third quarter of 2016. Analysts polled by FactSet had expected the company to report adjusted earnings of 70 cents a share on sales of $23.6 billion. "Our results this quarter reflect the trust customers are placing in the Microsoft Cloud," Chief Executive Satya Nadella said in a statement. The shares had ended the regular session up 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.

United Airlines reaches settlement with passenger dragged from plane

Top Reuters News - Thu, 04/27/2017 - 16:21
CHICAGO (Reuters) - United Airlines and the passenger who was dragged from a Chicago flight earlier this month have reached a settlement for an undisclosed sum, they said on Thursday, in the carrier's latest step to contain damage from an incident which has sparked international outrage.

Amazon shares jump 5% following strong earnings report

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:18

Shares of Amazon.com Inc. rallied in after-hours trade Thursday following the company's stronger-than-expected earnings report. The e-commerce and cloud-services giant reported first-quarter net income of $724 million, or $1.48 a share, compared with $513 million, or $1.07 a share, in the year-earlier period. Analysts had forecast earnings of $1.08 a share. Revenue for the period climbed to $35.7 billion from $29.1 billion a year earlier, topping the consensus view of $35.3 billion. Amazon Web Services revenue increased to $3.66 billion from $2.57 billion in the year-earlier period. The company forecast second-quarter earnings of between $35.25 billion and $37.75 billion, bracketing - but mostly below - the $37 billion FactSet forecast. Shares of Amazon jumped nearly 5% to $963 in after-hours trade. The stock had gained 10% in the past three months and 51.5% in the past 12 months, as of Thursday's close. It has outperformed the S&P 500 , which is up 4% in the past three months and 14% in the past year. Follow MarketWatch live blog for coverage of Amazon's conference call and further earnings reaction.

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.

Google-parent Alphabet beats first-quarter earnings expectations

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:18

Shares of Google-parent Alphabet Inc. climbed 3% late Thursday after the company beat first-quarter earnings expectations. It reported net income of $5.4 billion, or $7.73 per share, up from $4.2 billion, or $6.02 per share, in the year-earlier period. The FactSet consensus was for earnings per share of $7.38. Revenue was $24.7 billion, up from $20.2 billion in the year-earlier period and above the FactSet consensus of $19.7 billion. Google advertising revenues contributed $21.4 billion, while "other bets" revenues contributed $244 million. The company reported a 2% increase in aggregate paid clicks sequentially. Shares of Alphabet have gained 6% in the past month, compared to the S&P 500's gain of 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.

GoPro's stock jumps after results, outlook beat expectations

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:18

Shares of GoPro Inc. jumped 3.7% in after-hours trade Thursday, after the action camera maker reported better-than-expected first-quarter results and second-quarter outlook. The net loss widened to $111.2 million, or 78 cents a share, from $107.5 million, or 78 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted per-share loss was 44 cents, compared with the FactSet loss per share of 45 cents. Revenue rose 19% to $218.6 million from $183.5 million, beating the FactSet consensus of $208.1 million. The company said non-U.S. markets generated 60% of first-quarter revenue. For the current quarter, GoPro expects revenue of $270 million, plus or minus $10 million, well above the FactSet consensus of $243 million. "GoPro is executing a turnaround," said Founder and Chief Executive Nicholas Woodman. "We had a great first quarter and feel good about our outlook for the second quarter." The stock had tacked on 2.6% year to date through Thursday's close, while the S&P 500 has gained 6.7%.

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.

Intel shares slide after first-quarter earnings release

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:17

Shares of Intel Corp. fell in Thursday's extended session after the chip maker announced quarterly earnings. Intel reported its first-quarter earnings rose to $3 billion, or 61 cents a share, from $2 billion, or 42 cents a share, a year earlier. On an adjusted basis, the tech giant would have earned 66 cents a share. Revenue grew 7% to $14.8 billion. Analysts surveyed by FactSet had forecast earnings of 65 cents a share on revenue of $14.81 billion. The company projected second-quarter revenue of $14.4 billion, plus or minus $500 million and adjusted earnings per share of 68 cents, slightly above Wall Street's earnings expectation. For the full year, Intel sees revenue of $60 billion and adjusted EPS of $2.85. Shares declined 3.2% after hours.

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.

Expedia shares slide 2.7% after earnings miss

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:13

Online travel company Expedia Inc. said Thursday it had a net loss of $86.1 million, or 57 cents a share, in the first quarter, narrower than the $108.6 million loss, or 72 cents a share, posted in the year-earlier period. Adjusted per-share earnings came to 5 cents, just below the FactSet consensus of 6 cents. Revenue rose to $2.19 billion from $1.90 billion, ahead of the FactSet consensus of $2.14 billion. Gross bookings rose 14% to $23.6 billion. Room nights stayed, including at its HomeAway business, rose 12%, while room nights booked climbed 18%. Shares fell 2.7% in after-hours trading, but are up 20% in 2017, while the S&P 500 has gained 6.7%.

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.

Starbucks shares slip as revenue falls short of Street view

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:12

Starbucks Corp. shares declined in the extended session Thursday after the coffee chain matched Wall Street earnings estimates but fell short of consensus revenue targets. Starbucks shares fell 3.2% to $59.31 after hours. The company reported fiscal second-quarter earnings of 45 cents a share on revenue of $5.29 billion. Analysts surveyed by FactSet had forecast earnings of 45 cents a share on revenue of $5.42 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.

How did a copy of U.S. Declaration of Independence get to southern England?

Top Reuters News - Thu, 04/27/2017 - 16:12
CHICHESTER, England (Reuters) - British experts will carry out tests to try to determine how a rare copy of the U.S. Declaration of Independence found its way to an archive in southern England.

Nasdaq races to an all-time high, as Dow, S&P 500 end flat

MarketWatch Market Pulse - Thu, 04/27/2017 - 16:08

The Nasdaq Composite closed at a record Thursday, during an busy day of corporate quarterly results, but the broader market ended in neutral territory as a slump in energy and questions about President Donald Trump's tax plan weighed on Wall Street. The Nasdaq Composite ended up 0.4% at 6,048, marking a fresh record for the tech-heavy index--its second all-time closing high for the week. The Dow Jones Industrial Average closed at break-even levels at 20,981, as did the S&P 500 index at 2,388. Energy stocks declined 1.1%, representing the worst performer among the S&P 500's 11 sectors as U.S. crude-oil prices settled at the lowest level in a month. Subdued trade in the broader market came as analysts said Trump's tax proposal delivered Wednesday afternoon, was light on specifics and failed to address the question of how the proposed cuts would be funded. In corporate news, American Airlines Group Inc. shares slumped after reporting disappointing first-quarter results. Investors were also awaiting a slew of earnings for tech names, including those for Google-parent Alphabet Inc. , Microsoft Inc. and Amazon Inc. , all reporting after Thursday's close of regular 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.

U.S. Republican leaders hunt for votes for healthcare bill

Top Reuters News - Thu, 04/27/2017 - 16:03
WASHINGTON (Reuters) - House Republicans were making headway in efforts to build support for a reworked plan to overhaul the U.S. healthcare system, but have not decided when to vote, House Speaker Paul Ryan said on Thursday.

United Airlines passenger dragged off flight agrees to settlement with airline: lawyers

MarketWatch Market Pulse - Thu, 04/27/2017 - 15:28

The 69-year-old passenger who was dragged off a United Airlines flight bloodied and disheveled on April 9 has agreed to a settlement with the airline, according to his attorneys. Dr David Dao, whose experience became part of a viral video after passengers filmed him being dragged away by police officers, has reached "an amicable settlement," attorneys Thomas Demetrio of Corboy & Demetrio and Stephen Golan of Golan Christie Taglia said in a statement. The terms of the settlement are to remain confidential, they said. "[United CEO Oscar] Munoz said he was going to do the right thing, and he has," said Demetrio. Earlier Thursday, United announced "10 substantial changes to how it flies, serves and respects its customers," saying the shifts come after scrutiny of its policies in the wake of the incident. These include offering up to $10,000 to passengers who volunteer to give up their seats when a plane is too full. Shares of United parent United Continental Holdings Inc. were down 1.1% late Thursday and are down 3% in 2017, while the S&P 500 has gained 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.

Molina Healthcare says if Obamacare payments aren't made it will pull out of the market

MarketWatch Market Pulse - Thu, 04/27/2017 - 15:23

Molina Healthcare Inc. said in a letter to Congressional leaders Thursday that if cost-sharing payments that are part of the Affordable Care Act aren't funded it has "no choice" but to pull out of the health law's marketplaces immediately. "That would result in about 650,000 to 700,000 people losing insurance coverage in 2017, and we would not participate in Marketplace in 2018, resulting in over 1 million Americans losing health insurance coverage," the letter -- first reported by news outlet Axios -- said. The subsidies allow health insurers to provide health plans with lower cost-sharing to low-income individuals, and have become a point of contention in a government spending measure that would avert a shutdown. Molina, which described itself as one of the largest participants in the ACA's marketplaces, is one of the few health insurers to make money on the exchanges. In the Thursday letter, the company directly refuted a claim made by President Donald Trump that the payments amounted to "bailing out insurance companies." The payments reduce co-pays and deductibles for eligible low-income members and are used directly to pay the provider, Molina Chief Executive Officer J. Mario Molina said. "Thus, this is not a bail-out or windfall to the insurance company," he said. Molina shares have declined 15.3% over the last three months, compared with a 4.1% rise in the S&P 500 .

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.

Pages