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Breaking Stock Market and Financial News

Tyson Foods stock soars 7% following strong earnings report

MarketWatch Market Pulse - Mon, 02/06/2017 - 07:42

Shares of Tyson Foods soared 7% in premarket trade Monday after the company reported stronger-than-expected first-quarter earnings and sales and raised its annual outlook, citing strong beef and pork sales. The company reported net income of $593 million, or $1.59 a share, compared with $461 million, or $1.15, in the year-earlier period. Revenue for the three-month period increased to $9.18 billion compared with $9.15 billion in the year-earlier period. Analysts surveyed by FactSet had been calling for earnings of $1.27 on sales of $9.03 billion. The meat producer raised its full-year outlook to a range of $4.90 to $5.05 a share, compared with the consensus estimate of $4.89. As of Friday's close, the company's shares had been down 2.5% in the past three months, compared with a 10% increase for 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.

Airbnb to offer housing for 100,000 in need, pledges $4 million to help displaced people

MarketWatch Market Pulse - Mon, 02/06/2017 - 07:41

Following a Super Bowl ad on accepting diversity Sunday night, home-sharing company Airbnb pledged to provide short-term housing for 100,000 people in need over five years. Initially, Airbnb said it would focus on refugees, disaster survivors and relief workers. Additionally, Airbnb pledged $4 million over four years to the International Rescue Committee. Airbnb was one of several companies that spoke out against President Donald Trump's immigration ban and the company said it would offer free housing to refugees who were not allowed into the country following the ban.

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.

Futures flat as investors seek fresh catalysts

Top Reuters News - Mon, 02/06/2017 - 07:37
(Reuters) - U.S. stock index futures were little changed on Monday as investors looked for fresh trading catalysts after a strong jobs report last week. U.S. stocks climbed on Friday, with the S&P 500 closing just short of a record high, boosted by gains in financial shares as President Donald Trump moved ahead with deregulation action and a strong payrolls report.

Galena Biopharma stock surges 21% after independent group says breast cancer drug has no safety concerns

MarketWatch Market Pulse - Mon, 02/06/2017 - 07:30

Galena Biopharma Inc. shares surged 20.8% in pre-market trade Monday after the company said an independent group of experts decided its breast cancer combination treatment in two mid-stage trials had no safety concerns and found neither to be futile. Galena is testing its NeuVax with chemotherapy drug trastuzumab in two clinical trials, one phase 2b and the other phase 2, to prevent recurrence of breast cancer. The Data Safety Monitoring Board's findings mean the trials can proceed, Galena's Executive Vice President Bijan Nejadnik said. The company ended a late-stage clinical trial of the same drug, Neuvax, last year on a different independent committee's recommendation and the committee's futility concerns. An interim efficacy analysis for the phase 2b trial of NeuVax and trastuzumab is expected near the end of this year, Galena said. Galena shares were priced at $1.20 as of Friday's close. Galena shares have dropped 68.4% over the last three months, compared with a 10.2% 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.

Kremlin says it wants apology from Fox News over Putin comments

Top Reuters News - Mon, 02/06/2017 - 07:28
MOSCOW (Reuters) - The Kremlin said on Monday it wanted an apology from Fox News over what it said were "unacceptable" comments one of the channel's presenters made about Russian President Vladimir Putin in an interview with U.S. counterpart Donald Trump.

Hasbro's stock surges after profit and sales rise above expectations

MarketWatch Market Pulse - Mon, 02/06/2017 - 06:59

Shares of Hasbro Inc. surged 4.1% in premarket trade Monday, after the toy maker reported profit and sales that rose above expectations. Earnings for the quarter to Dec. 25 rose to $192.7 million, or $1.52 a share, from $175.8 million, or $1.39 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.64, beating the FactSet consensus of $1.27. Revenue grew to $1.63 billion from $1.47 billion, above the FactSet consensus of $1.50 billion. Boys category revenue fell 3% to $552.3 million, but was above the FactSet consensus of $534.9 million, while girls category revenue jumped 52% to $394.2 million, beating the FactSet consensus of $343.8 million. The stock has run up 12% over the past 12 months through Friday, while the S&P 500 has climbed 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.

Iran's missile test 'not a message' to Trump

Top Reuters News - Mon, 02/06/2017 - 06:57
DUBAI (Reuters) - Iran said on Monday a recent missile trial launch was not intended to send a message to new U.S. President Donald Trump and to test him, since after a series of policy statements Iranian officials already "know him quite well".

Facebook, Google, others launch drive against fake news in France

Top Reuters News - Mon, 02/06/2017 - 04:28
PARIS (Reuters) - Social media companies Facebook, Google and a group of news organizations launched an initiative on Monday to tackle fake news stories in France, with the media in the spotlight as the country's presidential election approaches.

Afghan diplomat shot dead at consulate in Pakistan's Karachi

Top Reuters News - Mon, 02/06/2017 - 04:11
KARACHI (Reuters) - An Afghan diplomat was shot dead on Monday in the Afghan consulate in Pakistan's southern city of Karachi in what was described as a personal dispute, Pakistani officials said.

China protests U.S. sanction list on Iran that hits Chinese firms

Top Reuters News - Mon, 02/06/2017 - 03:46
BEIJING (Reuters) - China on Monday said it had "lodged representations" with the United States over Washington's new sanctions list targeting Iran, which includes Chinese companies and individuals.

Deleted postings about missing Chinese billionaire hint at tensions

Top Reuters News - Mon, 02/06/2017 - 02:29
HONG KONG (Reuters) - Scores of China social media postings about a well-connected billionaire who went missing from a Hong Kong hotel have been deleted, pointing to what appears to be heightened sensitivity in Beijing over the case of Xiao Jianhua.

U.S. tech firms file legal brief opposing Trump's immigration ban

Top Reuters News - Mon, 02/06/2017 - 01:53
(Reuters) - Several technology giants, including Apple, Google and Microsoft, banded together on Sunday to file a legal brief opposing President Donald Trump's temporary immigration ban, arguing that it "inflicts significant harm on American business."

Legal battles to test Trump and his travel ban

Top Reuters News - Mon, 02/06/2017 - 01:23
WASHINGTON (Reuters) - President Donald Trump's temporary immigration ban faces crucial legal hurdles this week that could determine whether he is able to push through the most far-reaching and controversial policy of his first two weeks in office.

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