And 2017 isn’t shaping up to be much better. On January 30, management announced preliminary fourth quarter results, giving investors a preview of how bad the business has gotten.
Day: February 6, 2017
Why Aratana Therapeutics Inc. Is Tumbling Today
The pet therapeutics company disclosed in a Securities and Exchange Commission filing on Monday that the Food and Drug Administration’s Center for Veterinary Medicine has requested more information about its appetite stimulant Entyce. Specifically, the CVM is looking for additional data related to the company’s plans to transfer the manufacturing of Entyce to a new vendor.
Wall St Slips as Investors Seek Fresh Catalysts
U.S. stocks slipped in early afternoon trading on Monday amid a lack of major catalysts, including economic data, and uncertainty over President Donald Trump’s policies. Markets rallied sharply after Trump’s election victory in November, riding on hopes that his plans including simpler regulations, higher infrastructure spending and tax cuts will boost the economy.
Tiffany Stock Downgraded To Neutral From Buy At Mizuho After Abrupt CEO Departure
Tiffany & Co. shares were downgraded to neutral from buy at Mizuho Monday, after the company surprised investors with the news that Chief Executive Frederic Cumenal was stepping down with immediate effect.
This Massive Bank Is Even Bigger Than It Seems
Not only is it a compelling story, but embedded in it are critical lessons that investors in bank stocks would be wise to internalize if the extraordinary uncertainty pulsing through the markets right now continues. Yet, even though we all know that JPMorgan Chase is enormous , the fact of the matter is that it’s even bigger than it appears.
Is Fitbit Inc. a Bear Trap or Bull Trap?
The company now expects its fourth quarter revenue to fall 18%-20% annually, missing its prior guidance for 4% growth and representing its first year-over-year decline since its IPO. On the bottom line, it expects a non-GAAP net loss of $0.51-$0.56 per share, compared to its prior guidance for a profit of $0.14-$0.18 per share.
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As a federal appeals court judge, Supreme Court-nominee Neil Gorsuch has criticized courts for giving too much power to government agencies that enforce the nation’s labor and employment laws. He also backed curbs on some class-action lawsuits as lawyer in private practice.
Gold Miners ETF Rises As Futures Looks At Highest Settlement In 3 Months
A popular way to bet on gold miners was trading about 1.5% higher on Monday. The advance in the VanEck Vectors Gold Miners ETF comes as gold futures are on track to hit their highest level in nearly three months, according to FactSet data.
France’s Fillon To Stay In Presidential Race Despite Wife’s Pay Scandal
French conservative presidential candidate Francois Fillon will remain in the race despite an investigation into his wife Penelope’s state pay, reports said Monday. Fillon said payments made from public funds to his wife for work she performed were legal and that details of the payments will be released later Monday.
Finding the Right Investing Tools for Uncertain Times
For investors, the biggest risks often are those that are unforeseeable. But in uncertain times like these, there are specific strategies that can either help investors navigate to higher returns or protect their portfolios from potential landmines.
Dollar General says it will add 10,000 jobs this year
Dollar General Corp. says it plans to create 10,000 jobs this year tied to the opening of 1,000 stores and two distribution centers. The discount retailer says the new jobs will increase its workforce by about 9 percent.
comScore Stock Sinks After Delisting Warning
The Nasdaq Hearings Panel gave comScore until Feb. 23 to complete its ongoing audit process and restate earlier financial results, but the company now sees no way to meet that deadline. At 11 a.m. EDT, the stock was down about 23%.
Did a Case of Buyer’s Remorse Send Intrexon Corporation Down 13% in January?
The reason for the dip appears to be related to Intrexon’s acquisition of GenVec On Jan. 24, Intrexon announced an all-stock deal to acquire GenVec, a wholly clinical-stage company that’s developing the AdenoVerse gene delivery technology, for roughly $7 per share. GenVec stockholders are set to receive 0.297 shares of Intrexon for each share of GenVec that they own, valuing GenVec near $15 million.
These Brands Won the Super Bowl Ad Blitz
Coca-Cola , Budweiser, Hyundai and others capitalized on TV’s biggest stage with ads that generated the most buzz online, according to data from YouTube and TD Ameritrade . TD Ameritrade, a sponsor of the NFL, found that Coca-Cola won the day with an ad featuring “America the Beautiful” sung in different languages.
Trump’s Ethics Plan Is Even Worse Than You Thought
Just about a month ago, Donald Trump gave his first press conference since last summer to try to reassure voters, ethics watchdogs and political analysts concerned about financial conflicts of interest that might entangle and compromise his White House. Like many Trump press events, it was a carnivalesque affair, featuring meandering attacks on the media and the intelligence community before finally offering an outline of how Trump would insulate his public policymaking from his own business dealings.
It’s too late for Trump to stop this financial rule
President Trump on Friday signed a memo asking the Labor Department to review the fiduciary rule, which requires brokers working with retirement savers to put the interest of their clients ahead of their own. Rules and regulations exist to let us know what behaviors we should expect from the people we do business with.
Stocks Drift Lower as Investors Digest Recent Gains
The Dow Jones Industrial Average fell 0.06% to trade at 20,058 after rising slightly earlier in the session. The S&P 500 was down 0.19%, and the Nasdaq dropped 0.04%.
European Stocks Fall as Political Risks Offset Solid German Data
European equity markets fell Monday as investors took stock of a renewed debate over the pace of U.S. rate increases and kept a cautious eye on political developments. European equity markets fell Monday as investors took stock of a renewed debate over the pace of U.S. rate increases and kept a cautious eye on political developments at home and abroad.
‘Split’ Tops Domestic Weekend Box Office for Third Time
Split took first place for the third straight weekend, grossing $14.6 million, slightly above analysts’ estimates . New release Rings from Viacom’s Paramount Pictures unit came in second place with $13 million, while carryover title A Dog’s Purpose from Universal finished third with revenue of $10.8 million, according to comScore data.
Mohamed El-Erian: A March Rate Hike Is Less Likely
Allianz chief economic adviser Mohamed El-Erian believes the Fed’s decision to leave rates unchanged last week will delay future hikes too. The probability of the Federal Reserve increasing interest rates at its March meeting has decreased due to disappointing wage growth and a weaker labor participation rate, said Mohamed El-Erian, Allianz chief economic adviser, on CNBC on Monday morning.
Hasbro Shares Are Surging Thanks to Disney — Plus Jim Cramer’s View
Hasbro stock is spiking by 15% to $95.08 a share in morning trading on Monday after the toy company reported strong 2016 fourth-quarter and full-year earnings. Before Monday’s market open, Hasbro posted fourth-quarter earnings of $1.64 a share on $1.6 billion in revenue.
Stocks Lower Amid U.S. Political Uncertainty
Stock were buoyed last week by a strong U.S. jobs report but on Monday uncertainty over potential policy moves from Donald Trump weighed on Wall Street. The Dow Jones Industrial Average fell 0.23% to trade at 20,027.
Biotech Premarket Movers: Cytokinetics, Artana Therapeutics, Bluebird
Leading gainers Monday morning included Cytokinetics , whose shares rallied about 7% premarket after Needham upgraded the late-stage biopharma company to a Strong Buy with a $22 per share upside. Among other things, Needham analyst Chad Messer wrote that Cytokinetics’ “Phase III VITALITY-ALS study of tirasemtiv in amyotrophic lateral sclerosis is expected to read out by year end”.
Automatic Data Processing: Not Automatic for the ‘People’
In the latest one-year period, shares of Automatic Data Processing are up nearly 20%. But can ADP get the job done in 2017? ADP is the world’s largest payroll processor.
Will These Sectors Still Drag Behind? Check These Charts
Of the 11 S&P 500 sector ETFs, six have positive but overbought weekly charts, three have positive charts, one is neutral and one is negative. Here’s how to trade them.
Privatizing Fannie and Freddie Yields 3 Investment Opportunities
If the two government-sponsored enterprises go the privatization route, their stocks will increase. But that option pales by comparison with two superior alternatives.
Key Facts Every Investor Should Know About Robo-Advisors
Robotics has contributed greatly to finance and investments in recent years, but nothing is perfect. So, watch out for these issues when you robo-invest.
Kinder Morgan Is Primed for an Upside Play
This updated daily bar chart of KMI, below, shows that prices meandered sideways around $22 since our Nov. 11 updated. The stock has been testing the $23 level recently — and it looks like an upside breakout can occur at any time.
Fumbling Retail CEOs Should Now Be Very Scared
Amid poor holiday seasons, lagging stock prices and angst about the long-term impact of the shift toward digital shopping, it appears retail CEOs are now on a very short leash. said Sunday that CEO Frederic Cumenal will step down effective immediately after less than two years on the job.
As Aluminum Prices Break Upward, Alcoa Is Climbing Higher
But we can look at the price of aluminum to see if we are on the right track. In this five-year weekly chart of Aluminum futures on the London Metal Exchange, below, we can see that a major downtrend line has been broken.
The NFL’s overtime rules ruined one of the all-time-great…
After trailing 28-3 in the third quarter, the Patriots stormed back, making it to overtime after tying the game at 28-28 in the final minute of regulation. The NFL’s overtime rules have long been a gripe with fans: If the team that gets the ball on the opening drive scores a touchdown, it’s game over.
TRUMP: ‘Any negative polls are fake news’
President Donald Trump blasted negative polls as “fake news” in a series of tweets Monday morning, also accusing what he called the “FAKE NEWS media” of lying. “Any negative polls are fake news, just like the CNN, ABC, NBC polls in the election.
Liz Weston: The never-ending car payment
This file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. FILE – This file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com.
A guide to celebrating Mardi Gras in New Orleans
In this Feb. 6, 2016, file photo, a maid from the royal court of Endymion throws beads as the Krewe of Endymion Mardi Gras parade rolls through New Orleans. New Orleans is entering the height of its annual pre-Lenten Carnival season, culminating on Mardi Gras, or Fat Tuesday, which falls on Feb. 28 this year.
Man shot dead on Vallejo street
Police are hunting for a killer who gunned a man down on a Vallejo Street in broad daylight Sunday, officials said. The shooting happened around 12:40 p.m. on the 100 block of Hilborn Street, Vallejo police Sgt.
Emergency Funds: Should You Use Yours to Pay Down Debt?
Financial advisors often recommend clients build an emergency fund and use it only in true emergencies. But what about when you spend hundreds of dollars each month to pay down high-interest debt – is that an emergency? And should you dip into that fund in order to decrease your debt burden? The consumer should build an emergency fund before paying down debt.
European Central Bank head Draghi says stimulus still needed
The head of the European Central Bank says that its monetary stimulus efforts are still very much needed despite the recent spike in inflation in the 19 countries that use the euro currency. Mario Draghi told members of the European Parliament ‘s economic and monetary affairs committee Monday that the uptick in annual inflation to 1.8 percent was mainly due to higher oil prices, not to fundamental price pressures in the economy from rising wages.
IBMVoice: How To Transform Your Business Quickly? Try A Hybrid Cloud Solution
These models can drive customers to expect new and better application services that are delivered faster than ever. Succeeding in today’s business environment requires organizations to be ready to transform quickly.
Why Shares of SuperValu Inc. Plunged 10% in January
Fiscal third quarter revenue fell slightly to $3.0 billion, and the company swung from net income of $34 million a year ago to a loss of $26 million. This continues the long deterioration of SuperValu’s business.
St. Louis Shock Jock Is Now Dropping the N-Word on the Air
Shock jock Bob Romanik, far left, shown with Board of Aldermen President Lewis Reed and sports radio personality Kevin Slaten.