Breaking Stock Market and Financial News

Macron campaign for French presidency off to slower start than Le Pen: poll

Top Reuters News - Wed, 04/26/2017 - 22:42
PARIS (Reuters) - Fewer French voters believe centrist Emmanuel Macron got off to a good start in the last lap of France's presidential election than far right leader Marine Le Pen, a poll showed on Thursday.

Uber driver charged with raping California woman in car

Top Reuters News - Wed, 04/26/2017 - 21:52
LOS ANGELES (Reuters) - An Uber driver accused by prosecutors of having sexually assaulted a female passenger after she sought a ride home from a gathering in the upscale seaside city of Newport Beach, California, was charged with rape on Wednesday.

China flags global naval role after new carrier launch

Top Reuters News - Wed, 04/26/2017 - 21:35
SHANGHAI (Reuters) - China needs to raise its military capabilities to protect its growing overseas interests, its foreign minister said following the launch of China's first domestically built aircraft carrier, but he vowed not to pursue expansionism.

Trump seeks to shrink federal role in education with new order

Top Reuters News - Wed, 04/26/2017 - 18:59
WASHINGTON (Reuters) - President Donald Trump on Wednesday ordered Education Secretary Betsy DeVos to review the U.S. government's role in school policy, which supporters cheered as the first step in creating more local control in education and critics worried could lead to lower quality schools in poorer neighborhoods.

Republicans take next step in U.S. deregulation with Senate bill

Top Reuters News - Wed, 04/26/2017 - 18:55
WASHINGTON (Reuters) - Republican lawmakers launched the next round in their fight against federal regulation on Wednesday, helped by at least one Democrat, as the U.S. Senate began work on legislation to change nearly every step agencies take in creating and applying new rules.

Conservatives back latest U.S. healthcare bill, obstacles remain

Top Reuters News - Wed, 04/26/2017 - 18:06
WASHINGTON (Reuters) - The conservative House Freedom Caucus came out in support of a reworked U.S. healthcare overhaul bill even though it would not fully repeal Democratic former President Barack Obama's signature healthcare law, the group said in a statement on Wednesday.

Intuit shares rally as TurboTax unit sales grow over tax season

MarketWatch Market Pulse - Wed, 04/26/2017 - 17:59

Intuit Inc. shares rallied in the extended session Wednesday after the tax software company reported a rise in units sold over tax season and reiterated its outlook for the year. Intuit shares surged 7.3% to $124.30 after hours, following a 2.8% decline during the regular session as an outline of President Donald Trump's tax plan was unveiled. Intuit said that total units of its TurboTax software rose 2% to 34.6 million units over this year's tax season compared with a year ago. Intuit reiterated its full-year earnings guidance of $4.30 to $4.40 a share, while analysts surveyed by FactSet expect $4.32 a share.

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Teradyne shares up 11% after earnings beat

MarketWatch Market Pulse - Wed, 04/26/2017 - 17:29

Shares of Teradyne Inc. rallied 11% late Wednesday after the automation supply company reported first-quarter earnings and sales above expectations. Teradyne said it earned $85.2 million, or 42 cents a share, in the quarter, compared with 24 cents a share in the year-ago period. Adjusted for one-time items, the company earned $88.7 million, or 44 cents a share. Sales reached $457 million, from $431 million in the year-ago period. Analysts polled by FactSet had expected the company to report adjusted earnings of 38 cents a share on sales of $440 million. The stock had ended the regular trading session up 0.6%.

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F5 Networks plunges after earnings miss

MarketWatch Market Pulse - Wed, 04/26/2017 - 17:25

In its first earnings report after a change at the top, F5 Networks Inc. disappointed investors and saw its stock plunge in late trading. F5, which appointed François Locoh-Donou as chief executive in late January, reported fiscal second-quarter net income of $93.1 million, or $1.43 a share, on sales of $518.2 million. After adjustments for stock-based compensation and other effects, the networking company claimed adjusted profit of $1.95 a share. Analysts on average expected adjusted earnings of $2.09 a share, according to FactSet, and F5's forecast called for adjusted profits of $2.01 to $2.04 cents a share. Analysts also expected higher revenue, with an average forecast of $538 million, according to FactSet. F5 stock fell more than 7% in late trading, continuing a tough 2017 for the Seattle company: Shares declined 5.1% year-to-date as of Wednesday's close, while the S&P 500 index gained 6.7% in that time.

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Mellanox shares fall as quarterly results, outlook miss Street view

MarketWatch Market Pulse - Wed, 04/26/2017 - 17:18

Mellanox Technologies Ltd. shares dropped in the extended session Wednesday after the network products maker's quarterly results and outlook fell short of Wall Street estimates. Mellanox shares fell 12% to $45 after hours. The company reported adjusted first-quarter earnings of 29 cents a share on revenue of $188.7 million. Analysts surveyed by FactSet had forecast earnings of 49 cents a share on revenue of $204.7 million. For the second quarter, Mellanox expects revenue of $205 million to $215 million. Analysts estimate revenue of $223 million.

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H&R Block shares rise on higher-than-average DIY online filings

MarketWatch Market Pulse - Wed, 04/26/2017 - 16:59

H&R Block Inc. shares rose in the extended session Wednesday as it reported a better-than-average rise in online-filed tax returns, erasing regular-session losses following the release of an outline of President Donald Trump's tax plan. H&R shares advanced 2.9% to $24.57 after hours, following a 1.4% decline during the regular session. H&R Block said that its do-it-yourself online filings during tax season rose 2.3% from a year ago, compared with the Internal Revenue Service average increase of 0.2%.

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Weight Watchers shares rally on new CEO Mindy Grossman

MarketWatch Market Pulse - Wed, 04/26/2017 - 16:36

Weight Watchers International Inc. shares rallied in the extended session Wednesday after the weight-loss company announced a new president and chief executive. Weight Watchers shares surged 13% to $22.75 after hours. The company announced that Mindy Grossman will become CEO in July, replacing members of the interim CEO group which included Financial Chief Nicholas Hotchkin, and board members Thilo Semmelbauer and Christopher Sobecki. Grossman is currently CEO of home-shopping network and online retail company HSN Inc. . Shares of HSN were flat at $36.50 after hours.

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Venezuela death toll hits 27, protesters battle security forces

Top Reuters News - Wed, 04/26/2017 - 16:24
CARACAS (Reuters) - Venezuelan security forces fired scores of tear gas volleys and turned water cannons on rock-throwing protesters on a bridge in Caracas on Wednesday as the death toll from this month's anti-government unrest hit at least 27.

Amgen shares slide on weak Enbrel sales

MarketWatch Market Pulse - Wed, 04/26/2017 - 16:21

Shares of Amgen Inc. slid in Wednesday's extended session after the biopharmaceutical company reported a double-digit sales decline of its blockbuster drug. Amgen reported its first-quarter earnings rose to $2.07 billion, or $2.79 a share, from $1.9 billion, or $2.50 a share, a year earlier. On an adjusted basis, the pharmaceutical giant would have earned $3.15 a share. Revenue slipped 1% to $5.46 billion. Analysts surveyed by FactSet had forecast earnings of $2.99 a share on revenue of $5.61 billion. Amgen also said that sales of its rheumatoid arthritis and plaque psoriasis drug Enbrel fell 15% due to increased competition. The drug maker kept its 2017 revenue outlook unchanged at $22.3 billion to $23.1 billion but raised the lower end of its adjusted earnings per share forecast to a range of $12 to $12.60. It had previously projected $11.80 to $12.60. Amgen shares dropped 2.9% after hours.

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PayPal earnings beat, stock buyback send stock to record levels

MarketWatch Market Pulse - Wed, 04/26/2017 - 16:17

PayPal Holdings Inc. stock topped record highs in after-hours trading Wednesday after the online-payments company beat earnings expectations and announced a $5 billion stock-repurchase plan. The company reported first-quarter net income of $384 million, or 32 cents a share, on revenue of $2.98 billion. After adjustments for stock-based compensation and other factors, PayPal claimed adjusted profit of 44 cents a share. Analysts on average expected PayPal to report adjusted earnings of 41 cents a share on revenue of $2.94 billion, according to FactSet. Total payments volume on PayPal's platform increased 23% year-over-year and nearly topped $100 billion for the first time, at $99.3 billion, helping revenue increase 17% from the same quarter a year ago. PayPal also said it would buy back $5 billion in stock as soon as its $2 billion stock-repurchase program announced in January 2016 is complete; the company said about $488 million remains in that authorization. PayPal shares closed at $44.41, down 0.7% from a closing record of $44.71 reached Tuesday, then jumped more than 5% in late trading to potential record highs.

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Tractor Supply shares up 4% after company reports earnings in line with forecast

MarketWatch Market Pulse - Wed, 04/26/2017 - 16:16

Shares of Tractor Supply Co. rose more than 2% late Wednesday after the retailer reported first-quarter earnings and sales in line with Wall Street expectations. Tractor Supply said it earned $60.3 million, or 46 cents, in the quarter, compared with $67.7 million, or 50 cents a share, in the first quarter of 2016. Net sales for the quarter increased 6.6% to $1.56 billion, from $1.47 billion in the year-ago period. Comparable-store sales decreased 2.2%, versus an increase of 4.9% (or 2.6% if adjusted for an extra week in the retailer's fiscal 2017) a year ago. The company became the latest to blame the weather for some of its shortcomings. "Due to the challenging weather conditions, we were unable to offset the strong seasonal performance from last year's first quarter. As the weather has normalized over the past few weeks, we are encouraged with how the customer has responded and believe there is significant spring business ahead of us," CEO Greg Sandfort said in a statement. Shares of Tractor Supply had ended the regular trading session up 0.5%.

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Dow, S&P 500 end with a whimper after Trump's 'massive' tax proposal

MarketWatch Market Pulse - Wed, 04/26/2017 - 16:12

U.S. stocks ended little-changed on Wednesday, losing altitude in the final minutes of trade, following a highly anticipated announcement of President Donald Trump's ambitious tax proposal that had helped to fuel a breakout for equities in recent days. The Dow Jones Industrial Average ended down 0.1% at 20,975.09, the S&P 500 index finished off 1.16 point, or less than 0.1%, at 2,387.45, while the Nasdaq Composite Index , which touched a fresh intraday record of 6,040.89, ended little-changed at 6,025--holding above its psychologically significant level of 6,000, hit Tuesday. In a news conference Wednesday afternoon, Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn unfurled an outline of the eagerly awaited plan, but the lack of details appeared to disappoint investors. The yield on the 10-year Treasury yield [BX:TMUBMUSD10Y]slipped to 2.30%, highlighting a pick up in bidding for haven government bonds. Bond prices and yields move inversely. In corporate action, Verizon Communications Inc. led gains for the Dow, while shares of Procter & Gamble Co. topped losses for blue-chips, down 2.5%. Twitter Inc. , also closed up nearly 8%, after reporting better-than-expected quarterly results.

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Pelosi cites 'progress' made on Obamacare funding dispute

MarketWatch Market Pulse - Wed, 04/26/2017 - 16:09

House Democratic leader Nancy Pelosi said Wednesday "progress" has been made to lessen he concern over continued funding of a set of Affordable Care Act payments seen as critical for the continued survival of the health-insurance program. Several reports on Capitol Hill said White House officials assured Democratic lawmakers that the subsidy payments would continue. Earlier Wednesday, House Speaker Paul Ryan said the Obamacare funding would not be included in a must-pass spending bill to keep the government open.

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White House to keep paying Obamacare subsidies for now: official

Top Reuters News - Wed, 04/26/2017 - 16:02
WASHINGTON (Reuters) - The Trump administration will continue to pay subsidies for low-income Americans receiving healthcare coverage under Obamacare, but no decisions have been made about future funding, a White House official said on Wednesday.

U.S. FCC chairman to propose reversing 'net neutrality' rules

Top Reuters News - Wed, 04/26/2017 - 15:40
WASHINGTON (Reuters) - The head of the U.S. Federal Communications Commission on Wednesday proposed overturning the landmark 2015 Obama-era net neutrality rules that prohibit broadband providers from giving or selling access to certain internet services over others.

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