Day: February 2, 2017

4 Reasons To Avoid Under Armour Inc. Stock

Revenue rose 12% annually to $1.3 billion, but that missed estimates by $100 million and was much lower than the 20%+ growth it had continually posted for over six straight years. On the bottom line, Under Armour’s diluted earnings fell by a penny to $0.23 per share, which missed estimates by two cents.

Judge Discharges Bankruptcy After 50 Cent Pays $22 Million

The rapper who burst onto the music scene in 2003 with his debut album, “Get Rich or Die Tryin,” filed for Chapter 11 reorganization in 2015, citing debts of $36 million and assets of less than $20 million. Nevins approved a plan in July calling for 50 Cent, whose real name is Curtis Jackson III, to pay back about $23 million.

FCC to Vote on Advanced US Broadcast TV Standards

The U.S. Federal Communications Commission is moving forward to advance a new broadcasting standard that would improve television picture quality, allow better access to programs via mobile phones and let broadcasters turn on a television set to send emergency alerts. Republican FCC Chairman Ajit Pai said the commission will vote Feb. 23 on whether to grant initial approval on a rule to allow broadcasters to use the new standard on a voluntary basis.

Wingstop: Cramer’s Top Takeaways

Did you miss last night’s “Mad Money” on CNBC ? If so, here are some of Jim Cramer’s top takeaways. Cramer checked in with Charlie Morrison, president and CEO of Wingstop , the restaurant chain with more than 1,000 locations.

Facebook: Cramer’s Top Takeaways

Did you miss last night’s “Mad Money” on CNBC ? If so, here are some of Jim Cramer’s top takeaways. There are very few companies with terrific business models that have cheap stocks, Cramer told viewers, and Facebook is one of them.

Snap-On: Cramer’s Top Takeaways

Did you miss last night’s “Mad Money” on CNBC ? If so, here are some of Jim Cramer’s top takeaways. In his first “Executive Decision” segment, Cramer again sat down with Nick Pinchuk, chairman and CEO of Snap-On , the toolmaker that just posted a six-cents-a-share earnings beat on a 4.5% increase in revenue and expanding gross margins.

Nordstrom Said to Wind Down Ivanka Trump Brand Partnership

Nordstrom Inc. is winding down its relationship with the controversial Ivanka Trump brand, according to a person with knowledge of the situation, a move that follows boycott threats and concerns about the first daughter’s conflicts of interest. The department-store chain is reducing the amount of Ivanka Trump merchandise it stocks, though some inventory may remain for now, according to the person, who asked not to be identified because the decision isn’t yet public.

Uber CEO Leaves Trump’s Advisory Council Amid Controversy

Uber Technologies Inc. Chief Executive Officer Travis Kalanick is stepping down from President Donald Trump’s business advisory council after criticism from customers and drivers. Kalanick’s participation on the council, along with more than a dozen other U.S. executives, prompted blow-back on social media after Trump’s controversial executive order on immigration.

Amazon Forecast Sparks Investor Concern on Big Spending

Amazon.com Inc. projected earnings for the current quarter that indicate stepped up spending on warehouses, movies and gadgets will continue this year at the expense of profits. Operating income in the first quarter will be $250 million to $900 million, which is less than a year earlier even though revenue is forecast to increase as much as 23 percent to $35.8 billion.

Top Japan Hedge Fund Sees Trump Gains Fading on Protectionism

Tsukasa Shimoda, whose UMJ Galleyla Fund beat all other Japan-focused hedge funds last year, says the Donald Trump rally will soon fade as the U.S. president’s protectionist policies start to hurt the global economy. “The U.S. economy perhaps may improve because of him,” said Shimoda, whose $42 million UMJ fund returned 19 percent last year.

SAG-AFTRA Rally Buoys Video Game Strike

About 500 SAG-AFTRA members and supporters marched Thursday from the union’s headquarters to rally in a nearby park as the performers’ strike against 11 video game companies continued in its fourth month. “It is the collective voice that keeps us strong,” said SAG-AFTRA president Gabrielle Carteris.

Liberals Will Not Like How This Revenge Plot Ends

Thanks to the unexpected death of Antonin Scalia, they were so close to flipping the balance of the Supreme Court that they could taste it. Vast possibilities seemed to be opening up to move us towards a government that was more friendly to regulation, less friendly to social conservatism, and overall much more congenial to liberal visions of the role of government.

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The sensors on Delphi’s latest self-driving test vehicles are closely integrated into the vehicle’s body. Image source: Delphi Automotive PLC.

Alaska rejects marijuana consumption at retail pot stores

Alaska Marijuana Control Board member Loren Jones speaks during a board meeting on Thursday, Feb. 2, 2017, in Juneau, Alaska. The board is expected to consider rules for allowing authorized retail pot shops to have areas where customers can consume … Sara Chambers, acting director of Alaska’s Alcohol and Marijuana Control Office, speaks during a Marijuana Control Board meeting on Thursday, Feb. 2, 2017, in Juneau, Alaska.

GoPro reports 4Q loss

The San Mateo, California-based company said it had a loss of 82 cents per share. Earnings, adjusted for pretax expenses and restructuring costs, were 29 cents per share.

Uber CEO quits Trump’s business advisory group: sources

Uber Technologies Inc [UBER.UL] Chief Executive Officer Travis Kalanick has quit President Donald Trump’s business advisory group, sources familiar with the matter said on Thursday. Kalanick’s resignation comes after days of criticism about the executive’s decision to work with the president.

Deckers Outdoors To Cut Employees, Stores Amid Weak Q3 Sales

Shares of Deckers Outdoors fell after hours after the company reported weak third-quarter results, noting that sales fell 9.9% in the U.S. Deckers Outdoor s reported a 9.9% sales decline in the U.S. for its 2017 third quarter, featuring a 5.3% drop in the sale of UGG boots and shoes. Shares fell 22.8% in after-hours trading.

Chipotle Shares Rising Despite Earnings, Guidance Miss

After being down as much ad 3% in after-hours trading Thursday, shares of struggling fast-food restaurant Chipotle Mexican Grill were up over 2% to $432 after the company missed analysts fourth-quarter revenue and earnings estimates. The company reported earnings of 55 cents per share on revenue of $1.03 billion versus analysts’ expectations of earnings of 57 cents per share on revenue of $1.04 billion.

Amazon Shares Drop as AWS, Revenue Guidance Miss Expectations

Amazon’s revenue increased year-over-year, but still failed to meet analysts’ expectations during the key holiday shopping quarter. Shares of Amazon were falling 3.8% to $807.41 in after-hours trading on Thursday as the e-commerce giant posted revenue for the fourth quarter of 2016 that missed Wall Street’s expectations.

GoPro Stock Drops After-Hours on Fourth-Quarter Revenue Miss

GoPro stock fell almost 9% to $10 in after-hours trading on Thursday after reporting lower-than-expected revenue for the 2016 fourth quarter and guiding for weak revenue in the current quarter as well. After the market closed, the San Mateo, Calif.-based maker of action cameras said revenue rose 23.8% year-over-year to $541 million, but missed the FactSet consensus of $576 million for the period.

Qorvo, Cirrus Show the Risks of Betting on Just One Apple Supplier

Though Apple surged to new 52-week highs yesterday in the wake of a sales and earnings beat as well as stronger-than-expected iPhone print, a pair of chip suppliers are lower today due to the guidance provided in their Wednesday afternoon reports. The reasons behind their subdued outlooks provide some good lessons about why strong numbers from Apple — or for that matter, Samsung — don’t always spell the same for major suppliers.

What to Expect From Friday’s Jobs Report

The January U.S. non-farm payrolls report that the Labor Department will release at 8:30 a.m. ET Friday morning is one of the more difficult data sets to predict. After all, that’s the month where Labor does an annual revision to the data and a lot of seasonal adjustments, while January’s weather was far milder in much of America this year than in the recent past.

U.S. Eases Sanctions on Russian Intelligence Agency

The U.S. Treasury Department on Thursday eased sanctions on Russian intelligence agency FSB put in place by former President Barack Obama last year over accusations that Moscow launched cyber attacks to try to influence the U.S. presidential election. The Treasury Department said in a statement it would allow U.S. companies to make limited transactions with the intelligence service that are needed to gain approval to import information technology products into Russia.

U.S. Eases Sanctions on Russian Intelligence Agency

The U.S. Treasury Department on Thursday eased sanctions on Russian intelligence agency FSB put in place by former President Barack Obama last year over accusations that Moscow launched cyber attacks to try to influence the U.S. presidential election. The Treasury Department said in a statement it would allow U.S. companies to make limited transactions with the intelligence service that are needed to gain approval to import information technology products into Russia.