Search Engine Technology by Alex Katiraie

Please Refresh The Page For Today's News

World - Health - Sports - Science & Technology - Travel - Entertainment - Food - Books - Music - Arts - Business & Money - Fashion & Style - Movies

logo

Logo

Old Iconocast Website

News Search Engine Technology by Alex Katiraie

Please Refresh The Page For Today's News

World - Health - Sports - Science & Technology - Travel - Entertainment - Food

Books - Music - Arts - Business & Money - Fashion & Style - Movies


: Apple stock down 4% after-hours after earnings, revenue miss
Date: Thu, 02 Feb 2023 21:36:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: Apple posts quarterly revenue of $117.2 billion, versus $121.4 billion FactSet consensus
Date: Thu, 02 Feb 2023 21:31:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: Ford Q4 adj. EPS 51c vs expectations 62c
Date: Thu, 02 Feb 2023 21:20:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: Ford Q4 sales $44 billion vs. expectation $41.4 billion
Date: Thu, 02 Feb 2023 21:19:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: S&P 500 finishes with 1.5% gain
Date: Thu, 02 Feb 2023 21:01:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: Dow ends around 39 points lower, down 0.1%
Date: Thu, 02 Feb 2023 21:00:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: Nasdaq Composite surges 3.3%, while Dow stumbles as stocks end mostly higher
Date: Thu, 02 Feb 2023 21:00:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: Estee Lauder upgraded to buy from hold at CFRA
Date: Thu, 02 Feb 2023 20:14:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: March WTI oil loses 53 cents, or 0.7%, to settle at $75.88/bbl on Nymex
Date: Thu, 02 Feb 2023 19:33:00 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

Dow Jones Industrial Average trims losses, turning positive in early afternoon trade
Date: Thu, 02 Feb 2023 19:02:48 GMT
From marketwatch.com
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

: WWE stock falls on Q4 top- and bottom-line misses
Date: Thu, 02 Feb 2023 22:22:00 GMT
From marketwatch.com

World Wrestling Entertainment Inc.as WWE stock fell 2.2% after market close Thursday after the companyas fourth-quarter results came in below analystsa top- and bottom-line estimates. Net income was $38.8 million, or 45 cents a share, down from $60.9 million, or 73 cents a share in the prior yearas quarter, which the company attributed to a decrease in operating performance. On an adjusted basis, WWE earned 52 cents a share, down from 67 cents a share in the prior yearas quarter. Analysts surveyed by FactSet were looking for earnings of 58 cents a share. Revenue was $325.3 million, up from $310.3 million in the prior yearas quarter. Analysts surveyed by FactSet were looking for revenue of $334 million. WWEas operating income was $62.7 million, a decrease of 22% from the same period last year. The company said the increase in revenue was offset by an increase in operating expenses, primarily driven by higher costs to support the creation of content. aIn 2023, weare focused on continuing to execute on our key operational initiatives, such as the domestic licensing of our flagship programs,A RawA andA SmackDown, as well as the international licensing of our content in key markets,a said WWE CEO Nick Khan, in a statement. aAt the same time, weare focused on the review of strategic alternatives that we announced earlier this year, with the goal of maximizing value for all shareholders.a WWE is targeting Adjusted OIBDA ofA $395 million to $410 millionA for the full year 2023, which it says would be an all-time record for the company. WWE also expects to generate record revenue in 2023.

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.



: Gilead stock jumps 5% after Q4 beat, dividend increase
Date: Thu, 02 Feb 2023 22:14:00 GMT
From marketwatch.com

Shares of Gilead Sciences Inc. GILD rose more than 5% in the extended session Thursday after the pharma company reported fourth-quarter earnings and sales above Wall Street expectations, saying higher sales elsewhere took the sting of falling revenue for its COVID-19 drug. Gilead earned $1.6 billion, or $1.30 a share, compared with $376 million, or 30 cents a share, in the year-ago period in 2021. Adjusted for one-time items, Gilead earned $1.67 a share. Gileadas revenue rose 2% to $7.4 billion, mostly thanks to higher sales in for its oncology, HIV and hepatitis C drugs, which offset lower sales of COVID-19as Veklury. Analysts polled by FactSet expected Gilead to report adjusted EPS of $1.51 on sales of $6.6 billion. The company guided for full-year product sales between $26 billion and $26.5 billion, and per-share adjusted earnings between $6.60 and $7. Separately, Gilead said its board has authorized a 2.7% increase in the companyas dividend to 75 cents a share, payable on March 30 to stockholders of record at the close of business on March 15.

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.



: Atlassian stock tumbles 13% after Q2 loss
Date: Thu, 02 Feb 2023 21:41:00 GMT
From marketwatch.com

Atlassian Corp.as TEAM stock fell more than 13% after market close Thursday after the software maker reported a widening second-quarter loss. The company reported a net loss of $205 million, or 80 cents a share, compared with a net loss of $22.3 million, or 9 cents a share in the same period last year. The second-quarter net loss includes a non-recurring income tax charge of $83.1 million, which increased net loss per share by 32 cents. On an adjusted basis, Atlassian earned 45 cents a share, up from 43 cents a share in the same period last year. Analysts surveyed by FactSet were looking for earnings of 30 cents a share. The company reported revenue of $872.7 million, up from $688.5 million in the prior yearas quarter. Analysts surveyed by FactSet were looking for revenue of $850 million. Atlassian CEO Scott Farquhar said the companyas sales growth was driven by subscription revenue that grew 40% year-over-year. a2023 will be all about helping our customers navigate these challenging times, absorbing the macro-driven impacts on our business, and setting Atlassian up for long-term success,a he said, in a statement.

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.



: Skechers stock drops after profit warning
Date: Thu, 02 Feb 2023 21:33:00 GMT
From marketwatch.com

Skechers USA Inc. SKX stock fell 2.5% in after-market trades Thursday after the footwear company projected it would fall short of first-quarter and full-year 2023 profit estimates. For the first quarter, Skechers expects earnings of 55 cents to 60 cents a share, below the analyst estimate of 86 cents a share, according to data compiled by FactSet. For 2023, Skechers expects earnings of $2.80 to $3.00 a share, below the analyst forecast of $3.09 a share. Skechers reported fourth-quarter net income of $75.5 million, or 48 cents a share, down 81% from $402.4 million, or $2.56 a share, in the year-ago quarter. Adjusted earnings in the latest quarter totaled 48 cents a share, ahead of the estimate of 37 cents a share. Sales rose 13.5% to $1.88 billion, ahead of the analyst target of $1.77 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.



Nasdaq posts best daily gain since Nov., S&P 500 closes up 1.5%
Date: Thu, 02 Feb 2023 21:03:49 GMT
From marketwatch.com

The Nasdaq posted its best day of gains since November on Thursday, as stock-market bulls cheered the Federal Reserve"s decision a day before to raise interest rates by a smaller 25 basis point increment and embraced hints that a pause in rate hikes could be coming in a few months. The S&P 500 index rose about 1.5%, while the Nasdaq Composite Index jumped 3.3%, its best daily percentage gain since Nov. 30, according to Dow Jones Market Index. Both stock-market gauges surged in the final moments of trade. On the flip side, the Dow Jones Industrial Average shed about 39 points, or 0.1%, ending near 34,053, after posting back-to-back gains this week.

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.



UnitedHealth stock can be blamed for most of the Dow"s decline, while the rest of the stock market rallies
Date: Thu, 02 Feb 2023 19:49:56 GMT
From marketwatch.com

The Dow Jones Industrial Average"s selloff, in the face of a big rally in the broader stock market, is mostly the fault of one company"s stock. UnitedHealth Group Inc. shares tumbled 5.7% in afternoon trading, in the wake of lower-than-expected Medicare Advantage rates proposed in 2024. The health insurer"s stock price drop of $28.41, which would be the second-biggest in its history behind only the record $47.00 selloff on March 16, 2020, was shaving about 187 points off the Dow"s price. Meanwhile, the Dow was down 201 points, or 06%, with 18 of 30 components losing ground. Meanwhile, the S&P 500 rallied 0.9% and the Nasdaq Composite surged 2.4%. And the number of advancing stocks were outnumbering decliners 1,970 to 1,001 on the NYSE and 2,930 to 1,276 on the Nasdaq.

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.



: Apple, Alphabet and Amazon stock rallies ahead of earnings are adding a total of more than $230 billion to their market caps
Date: Thu, 02 Feb 2023 19:24:00 GMT
From marketwatch.com

Shares of the three technology behemoths reporting quarterly results after the closing bell are surging in afternoon trading Thursday, enough to boost their collective market capitalizations by about $233 billion. Apple Inc.as stock AAPL is surging 3.3% toward a 2 1/2-month high, Alphabet Inc.as stock GOOGLGOOG is running up 6.4% toward a five-month high and Amazon.com Inc. shares AMZN are hiking up 6.8% toward d 3 1/2-month high. All the stock are outperforming the S&P 500 SPX, which is rallying 1.3%. Based on the companiesa share counts reported in their previous audited quarterly filings with the Securities and Exchange Commission, the stocksa price gains are boosting the market caps of Apple by $77.00 billion, Google-parent Alphabet by $82.96 billion and Amazon by $73.04 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.



Congressional members announce antitrust caucus to hold Big Tech accountable
Date: Thu, 02 Feb 2023 19:21:59 GMT
From marketwatch.com

U.S. Reps. David Cicilline, D-R.I., and Ken Buck, R-Colo., on Thursday announced the formation of a Congressional Antitrust Caucus, designed for "holding Big Tech and monopolies accountable, promoting healthy competition in the economy, and advocating for hardworking and law-abiding consumers and business owners." The bipartisan caucus said it intends to focus on hearings with American innovators harmed by Big Tech, and a continued push for legislation.

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.



: Gold futures post a second straight session loss
Date: Thu, 02 Feb 2023 18:37:00 GMT
From marketwatch.com

Gold futures settled lower on Thursday to tally back-to-back losses. Prices for the precious metal had traded higher overnight and early Thursday, but gold gave up those gains with buyers and sellers ajockeyinga for positions as prices pave a path toward what will likely be the last rate hike by the Federal Reserve, if thereas a hike at all, said Adam Koos, president at Libertas Wealth Management Group. Gold for April delivery GCJ23 fell $12, or 0.6%, to settle at $1,930.80 an ounce on Comex after trading as high as $1,975.20.

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.



: Lazard stock pops on growing macroeconomic optimism, stronger-than-expected revenue
Date: Thu, 02 Feb 2023 18:11:00 GMT
From marketwatch.com

Lazard Ltd LAZ stock is up nearly 5% after the investment bank said itas more optimistic about macroeconomic conditions; it also beat its fourth-quarter revenue target but missed on adjusted profit. aAlthough the near-term outlook remains uncertain, we are cautiously optimistic regarding an improvement in the macroeconomic environment going into the second half of this year,a CEO Kenneth Marc Jacobs said on a call with analysts. Recent data shows that price increases are beginning to moderate, he said. aSince the beginning of the year, weave noted an increase in M&A dialogue while market sentiment seems to be improving.a Jacobs said that as the M&A market picks up, awe are well-positioned to capitalize on the recovery and gain market share.a The bankas fourth-quarter net income dropped by 80% to $42 million, or 44 cents a share, from $210 million, or $1.86 a share, in the year-ago quarter. Adjusted profit fell to 69 cents a share from $1.92 a share and missed the estimate of 80 cents a share in a survey of analysts by FactSet. Lazardas fourth-quarter revenue fell 31% to $671 million, but beat the Wall Street target of $670 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.



: Sarah Huckabee Sanders will give Republican response to Bidenas State of the Union address
Date: Thu, 02 Feb 2023 17:27:00 GMT
From marketwatch.com

Arkansas Gov. Sarah Huckabee Sanders will give the Republican response to President Joe Bidenas State of the Union address, House Speaker Kevin McCarthy announced on Thursday. Sanders, a former White House press secretary in the Trump administration, took office in January and said in a statement: aI am grateful for this opportunity to address the nation and contrast the GOPas optimistic vision for the future against the failures of President Biden and the Democrats.a

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.



: Natural-gas futures extend gains as U.S. supplies decline
Date: Thu, 02 Feb 2023 15:37:00 GMT
From marketwatch.com

The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 151 billion cubic feet for the week ended Jan. 27. That compared with an average analyst forecast for a decline of 146 billion cubic feet, according to a survey conducted by S&P Global Commodity Insights. The latest data, however, included a revision to stocks for the week ended Jan. 20, the EIA said. It upwardly revised that weekas total to 2.734 trillion cubic feet from 2.729 trillion. Total working gas stocks in storage for the latest week was at 2.583 trillion cubic feet, up 222 billion cubic feet from a year ago and 163 billion cubic feet above the five-year average, the government said. Following the data, March natural gas NGH23 was up 6.9 cents, or 2.8%, at $2.537 per million British thermal units on the New York Mercantile Exchange. Prices traded at $2.535 before the supply data.

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.



Biden economic adviser Deese is stepping down
Date: Thu, 02 Feb 2023 15:31:34 GMT
From marketwatch.com

President Joe Biden on Thursday said Brian Deese, who heads the White House"s National Economic Council, is departing. Biden said in a statement that he"s grateful to Deese"s family "for letting us borrow Brian" and he knows "they"re excited to welcome him home." Lael Brainard, the vice chair of the Federal Reserve, has emerged as a contender to take Deese"s job, though others are also under consideration.

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.



: Hanesbrands stock plunges toward biggest selloff in 15 years after relatively high dividend eliminated, warning of a Q1 loss
Date: Thu, 02 Feb 2023 15:01:00 GMT
From marketwatch.com

Shares of Hanesbrands Inc. HBI plummeted 20.7% in morning trading Thursday, putting them on track for the worst one-day performance in nearly 15 years, after the T-shirt and underwear seller eliminated its dividend and warned of a surprise first-quarter loss. The company reported before the opening bell fourth-quarter adjusted profit, which excludes nonrecurring items, of 7 cents a share, down from 44 cents a share, a year ago and below the FactSet consensus of 8 cents, while sales dropped 15.9% to $1.47 billion but was in line with expectations. For the first quarter, the company expects an adjusted per-share loss of 9 cents to 4 cents, compared with the FactSet consensus for earnings per share of 14 cents, as the company expects amuteda consumer demand amid economic uncertainty and margin pressure as it sells through the rest of its higher-cost inventory. Hanesbrands said it was eliminating its dividend, so it can use all of its free cash flow to accelerate the pay down of debt. The company last paid a quarterly dividend of 15 cents a share in November. At current stock prices, the annual dividend rate implied a dividend yield of 8.69%, which is more than 5 times the implied dividend yield for the S&P 500 SPX of 1.64%. The stock, which was on track for the biggest one-day selloff since the record 23.9% plunge on Dec. 11, 2008, has plunged 56.3% over the past 12 months while the S&P 500 has lost 9.6%.

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.



: Playboy parent PLBY Group completes $65 million capital raise with proceeds earmarked for debt repayment
Date: Thu, 02 Feb 2023 14:50:00 GMT
From marketwatch.com

Playboy parent PLBY Group Inc. PLBY said Thursday it has completed a capital raise totaling $65 million and will use most of the proceeds to repay senior debt. The company completed a $50 million rights offering and a $15 million registered direct offering. The companyas biggest shareholder Rizvi Traverse Management and its Chief Executive Ben Kohn fully exercised their basic and over-subscription privileges in the rights offering, which was over-subscribed. aAs a result, together with the separate registered direct offering, we were able to raise $65 million of new capital, which will allow us to access flexibility under our credit agreement to improve our capital structure,a Kohn said in a statement. The company will now focus on long-term strategic initiatives, including its Playboy and Honey Birdette direct-to-consumer businesses and the creator-led digital platform, he added. The company will continue to streamline costs as it enters the Year of the Rabbit in China, a key market where its iconic bunny-in-profile logo appears on many products. The stock was up 4% Thursday and has gained 14% in the year to date, while the S&P 500 SPX has gained 8%.

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. stocks open higher, extending gains after Fed meeting
Date: Thu, 02 Feb 2023 14:31:27 GMT
From marketwatch.com

U.S. stocks opened higher Thursday, with the technology-heavy Nasdaq Composite extending its sharp rise in the wake of the Federal Reserve slowing its pace of interest rate hikes. The Dow Jones Industrial Average edged up 0.1% soon after the opening bell, while the S&P 500 rose 1% and the Nasdaq Composite gained 2%, according to FactSet data, at last check. The U.S. central bank announced Wednesday that it was raising its benchmark rate by a quarter of a percentage point, downshifting from a rate hike of a half-point percentage point in December as it continues tightening monetary policy to bring down high inflation. Fed Chair Jerome Powell said during his press conference Wednesday that the "disinflationary" process is underway.

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.



: Motorsport Games stock pulls back after equity sale follows 14-fold surge in 2 days
Date: Thu, 02 Feb 2023 14:09:00 GMT
From marketwatch.com

Shares of Motorsport Games Inc. MSGM tumbled 22.1% in premarket trading Thursday, after the Florida-based racing game developer and esports ecosystem company is taking advantage of a 14-fold spike higher in two days to sell stock. The company announced an agreement is issue and sell 144,366 shares $23.50 a share, in a direct offering, for proceeds of $3.39 million. The offering comes after the stock skyrocketed 1,307% in two days, to close Wednesday at a one-year high of $37.00, up from Mondayas close of $2.63. The rally comes after the company said it regained full compliance with Nasdaq listing requirement. The stock has now gained 8.2% over the past 12 months while the S&P 500 SPX has lost 10.2%.

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.



: Okta stock jumps toward 5-month high after plan to lay off 300 employees
Date: Thu, 02 Feb 2023 13:52:00 GMT
From marketwatch.com

Shares of Okta Inc. OKTA surged 6.5% in premarket trading Thursday, after the provider of identity management software for businesses said it would lay off about 300 employees as part of a cost-cutting plan. With 6,037 employees as of Oct. 31, the job cuts would reduce Oktaas workforce by about 5%. The company said it will recognize a restructuring charge of about $15 million for severance and benefits costs, which will primarily be paid out in the first quarter of fiscal 2024, which ends in April. aWe entered fiscal 2023 with a growth plan based on the demand we experienced in the prior year. This led us to overhire for the macroeconomic reality weare in today. In addition, in the first half of FY23, we faced our own execution challenges. I wish I had responded sooner, but weare doing the best we can today to adjust to this reality,a Chief Executive Todd McKinnon said in a letter to employees. The stock has soared 49.5% over the past three months through Wednesday, while the S&P 500 SPX has gained 9.6%.

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.



Pelosi to back Schiff in Senate run if Feinstein retires: S.F. Chronicle
Date: Thu, 02 Feb 2023 13:51:10 GMT
From marketwatch.com

Rep. Nancy Pelosi, the veteran San Francisco Democrat who was speaker of the U.S. House till Republicans secured narrow control of the chamber last month, said she"ll back fellow House Democrat Adam Schiff in his recently declared Senate run, on the condition that Sen. Dianne Feinstein, 89, opts not to seek re-election next year, the San Francisco Chronicle reported. Feinstein, a former mayor of San Francisco, was first elected to the Senate in 1992. Pelosi, 82, late last year gave up her spot among Democratic leadership in the House and was tapped as speaker emerita. Rep. Katie Porter, who like Schiff represents a congressional district in Southern California, has also declared her candidacy for the Senate seat.

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.



: Mineralys Therapeutics sets IPO terms, which could value the HPV treatment company at nearly $600 million
Date: Thu, 02 Feb 2023 13:29:00 GMT
From marketwatch.com

Mineralys Therapeutics Inc. MLYS has set terms for its initial public offering, in which the Pennsylvania-based hypertension treatment company looks to raise up to $160 million. the company is offering 10 million shares in the IPO, which is expected to price between $14 and $16 a share. With 37.06 million shares outstanding expected after the IPO, the expected pricing could value the biopharmaceutical company at up to $592.9 million. The stock is expected to list on the Nasdaq exchange under the ticker symbol aMLYS.a BoA Securities, Evercore ISI, Stifel, Guggenheim Securities, Credit Suisse and Wells Fargo Securities are the underwriters. The company reported a net loss of $20.7 million on no revenue in the nine months ended Sept. 30, after a loss of $12.3 million on no revenue in the same period a year ago. The company is looking to go public at a time when investors appear to be warming up to IPO stocks, as the iShares Biotechnology exchange-traded fund IBB has gained 7.2% over the past three months, while the Renaissance IPO ETF IPO has run up 12.6% and the S&P 500 SPX has climbed 9.6%.

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.



: 3D printer Desktop Metal stock jumps after plan to cut jobs, that could affect more than 200 employees
Date: Thu, 02 Feb 2023 13:12:00 GMT
From marketwatch.com

Shares of Desktop Metal Inc. DM jumped 6.5% toward a two-month high in premarket trading Thursday, after the Boston-based 3D printing company said it would lay off about 15% of its employees and close four facilities. The moves are part of a cost-cutting plan, of which the company doubled its targeted annual savings to $100 million in 2023. The job cuts could affect about 205 employees, as the company had 1,370 employees at the end of 2021, according to the latest annual report. aThese cost reductions will help us improve margins and reduce costs to accelerate our path to profitability,a said Chief Executive Ric Fulop. aThe additive manufacturing industry continues to mature and expand even in a challenging macroeconomic environment.a The stock has tumbled 25.0% over the past three months, while the S&P 500 SPX has gained 9.6%.

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.



: Blank check company Pono Capital to close acquisition of Japanese flying bike maker, with stock to trade this week: Bloomberg
Date: Thu, 02 Feb 2023 13:06:00 GMT
From marketwatch.com

Pono Capital Corp. PONO will close its previously announced acquisition of Japanese flying motorbike maker ALI Technologies Inc., as early as Friday for trading on the Nasdaq, Bloomberg reported Thursday. Under the deal, Delaware-based Aerwins Technologies, which is the U.S. unit of ALI Technologies, will own the company. Pono Capital announced the acquisition in September for $600 million in stock with plans to trade under the symbol AWIN.

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.



: Genius Group stock soars toward 5 1/2-month high after plan to issue $10 NFT coupons to shareholders
Date: Thu, 02 Feb 2023 12:33:00 GMT
From marketwatch.com

Shares of Genius Group Ltd. GNS soared 28.1% toward a 5 1/2-month high in premarket trading Thursday, after the the Singapore-based education company, said it will reward its shareholders by issuing a $10 blockchain-based digital discount coupon, or non-fungible token (NFT), for each share they own. First, the company said it began the application process to dual list its shares on Upstream, which is a trading app for NFTs and digital securities. Once thatas completed, the company will issue the $10 NFT coupons to shareholders. Then shareholders can redeem the NFT coupons for Genius Education Merits (GEMs) on GeniusU, the companyas Edtech platform. The stock had jumped onto trader screens in mid-January, as it skyrocketed after the company said it was going after alleged illegal trading in the shares through naked short selling. The stock has blasted 1,504.6% year to date, while the S&P 500 SPX has gained a mere 7.3%.

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.



: Quest Diagnostics revenue declines amid steep fall in COVID tests
Date: Thu, 02 Feb 2023 12:29:00 GMT
From marketwatch.com

An earlier version of this article had an incorrect FactSet consensus number for 2023 adjusted EPS. It has been corrected. Quest Diagnostics Inc. DGX posted net income of $101 million, or 87 cents a share, for the fourth quarter, down from $390 million, or $3.12 a share, in the year-earlier period. Adjusted per-share earnings came to $1.98, ahead of the $1.91 FactSet consensus. Revenue fell 15% to $2.333 billion from $2.744 billion a year ago, also ahead of the $2.257 billion FactSet consensus. The revenue decline was mostly due to a slump in COVID-19 testing revenues, which fell 74.6% to $184 million from $722 million as the pandemic eased from the omicron peak in late 2021. Base business revenue grew 6.3% to $2.149 billion. aIn 2023, our focus is on growing our base business and increasing our efforts to drive productivity and expand margins. Our guidance for the full year reflects continued growth in the base business, tailwinds from recent Medicare reimbursement changes, investments to accelerate growth, and declining COVID-19 revenues,a Chief Executive Jim Davis said in a statement. The Secaucus, N.J.-based company is now expecting 2023 revenue of $8.83 billion to $9.03 billion, while FactSet is expecting $9.29 billion. It expects adjusted EPS of $8.40 to $9.00, compared with a FactSet consensus of $8.69. The stock was slightly lower premarket but has gained 9% in the last 12 months, outperforming the S&P 500 SPX which has fallen 10%.

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.



: Apparel maker Canada Goose Holdings stock moves down on lower profit and guidance
Date: Thu, 02 Feb 2023 12:27:00 GMT
From marketwatch.com

Canada Goose Holdings Inc. GOOS stock fell 8% in premarket trades after the clothing brand said its adjusted earnings fell well short of estimates. The company also cut its 2023 earnings view because of the impact of COVID-19 in China and aslowing momentum in North America set against a tough macro-economic backdrop.a Canada Goose said its third-quarter earnings fell to C$134.9 million, or C$1.28 a share, from C$151.3 million, or C$1.40 a share, in the year-ago quarter. Adjusted earnings totaled C$1.27 a share, well below the analyst estimate of C$1.60 a share. Revenue dropped by 1.6% to C$576.7 million, and missing the analyst forecast of C$621.6 million. Looking ahead, Canada Goose now expects adjusted 2023 profit of 92 cents to C$1.03 a share, compared to its earlier estimate of C$1.31 to C$1.62 a share. Analysts currently expect Canada Goose to report 2023 adjusted earnings of C1.42 a share.

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.



: Bristol Myers Squibb sees revenue fall in Q4
Date: Thu, 02 Feb 2023 12:20:00 GMT
From marketwatch.com

Shares of Bristol Myers Squibb Co. BMY gained 0.9% in premarket trading on Thursday after the company announced better-than-expected earnings for the fourth quarter of 2022. Bristol Myers Squibb had a profit of $2.0 billion, or 95 cents per share, in the fourth quarter, down from $2.3 billion, or $1.07 per share, in the same quarter in 2021. Adjusted earnings per share came in at $1.82, against the FactSet consensus of $1.73. Bristol Myers Squibb had revenue of $11.4 billion for the quarter, down from $11.9 billion in the same quarter in 2021. The FactSet consensus was $11.2 billion. The company blamed the revenue loss of exclusivity on products like Revlimid, its multiple myeloma treatment, which had $2.2 billion in sales for the fourth quarter of 2022, compared with $3.3 billion in the final three months of 2021. The consensus was $1.9 billion. Bristol said it expects to have adjusted EPS of $7.95 to $8.25 in 2023. The companyas stock is up 9.9% over the past year, while the broader S&P 500 SPX is down 7.9%.

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.



: Eli Lillyas stock falls after Q4 revenue miss
Date: Thu, 02 Feb 2023 12:18:00 GMT
From marketwatch.com

Eli Lilly & Co.as LLY stock fell 2.3% before market open Thursday after the biopharmaceutical giantas fourth-quarter revenue came in below analystsa expectations. The company reported net income of $1.938 billion, or $2.14 a share, up from net income of $1.726 billion, or $1.90 a share, in the year-earlier period. Adjusted per-share earnings came to $2.09, ahead of the FactSet consensus of $1.78. Revenue fell to $7.302 billion, down from almost $8 billion a year ago. Analysts surveyed by FactSet were looking for revenue of $7.332 billion. The company now sees full-year adjusted EPS of $8.35 to $8.55. Analysts surveyed by FactSet are looking for full year adjusted earnings of $8.35 a share. The company still sees 2023 revenue of $30.3 billion to $30.8 billion. The FactSet consensus is for 2023 revenue of $30.5 billion. a2023 is an inflection point forA LillyA a a chance to expand our impact on patients and growth potential as an R&D-driven biopharma company,a saidA Eli Lillyas CEO David A. Ricks, in a statement. aOver the course of this critical year, we hope to launch as many as four new medicines for challenging diseases, while advancing our next generation of molecules currently in Phase 3.a

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.



: ConocoPhillips stock edges up as profit and production rose, but came up shy of expectations
Date: Thu, 02 Feb 2023 12:15:00 GMT
From marketwatch.com

Shares of ConocoPhillips COP edged up 0.3% in premarket trading, after the energy exploration and production company reported fourth-quarter profit and production that rose, as realized prices increased, but fell a bit shy of expectations. Net income rose to $3.2 billion, or $2.61 a share, from $2.6 billion, or $1.98 a share, in the year-ago period. Excluding nonrecurring items, adjusted EPS of $2.71 was below the FactSet consensus of $2.72. Production increased 9.3% to 1,758 thousand barrels of oil equivalent per day (Mboed), but was just shy of the FactSet consensus of 1,764 Mboed. The total average realized price grew 8.4% to $71.05 per barrel of oil equivalent (BOE), and since production remains unhedged, the company realized the entirety of changes in market prices. The company does not report revenue or sales in its quarterly press releases. The company expects 2023 capital expenditures of $10.7 billion to $11.3 billion, and production of 1.76 million to 1.80 million barrels of oil equivalent per day (Mmboed). The stock has declined 7.0% over the past three months through Wednesday while the Energy Select Sector SPDR exchange-traded fund XLE has slipped 0.6% and the S&P 500 SPX has gained 9.6%.

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.



: Cardinal Health swings to a loss but stock rises after adjusted earnings beat estimates
Date: Thu, 02 Feb 2023 12:14:00 GMT
From marketwatch.com

Cardinal Health Inc. CAH said Thursday it swung to a second-quarter loss of $130 million, or 50 cents a share, from a profit of $49 million, or 17 cent a share in the year-ago quarter. The company reported adjusted net income of $1.32 a share, ahead of the Wall Street forecast of $1.14 a share, according to estimates compiled by FactSet. Revenue increased by 13% to $51.5 billion, ahead of the analyst estimate of $50.72 billion. Looking ahead, Cardinal Health said it raised its forecast for adjusted earnings per share to $5.20 to $5.50 from its earlier view of $5.05 to $5.40. Analysts are expecting earnings of $5.32 a share. Cardinal Health stock is down 1.5% in 2023, compared to a 7.3% increase by the S&P 500 SPX.

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.



: Hershey earnings and outlook top expectations
Date: Thu, 02 Feb 2023 12:09:00 GMT
From marketwatch.com

Hershey Co. HSY topped expectations with its latest earnings and outlook Thursday morning, noting that unit pricing contributed to retail sales growth in its most recent period. The company notched fourth-quarter net income of $396.3 million, or $1.92 a share, up from $335.6 million, or $1.62 a share, in the year-earlier period. On an adjusted basis, Hershey earned $2.02 a share, up from $1.69 a share a year before, while analysts tracked by FactSet were modeling $1.77 a share. Revenue climbed to $2.65 billion from $2.33 billion a year prior, whereas the FactSet consensus was for $2.58 billion. The company capped off aone of its strongest years in history despite record inflation, continued supply chain disruptions and macroeconomic uncertainty for many consumers,a Chief Executive Michele Buck said in a release, as annual revenue increased 16% to $10.4 billion. For the full year, Hershey anticipates 6% to 8% in net-sales growth, along with a 9% to 11% increased in adjusted earnings per share. Analysts tracked by FactSet were modeling $11.04 billion in revenue, up 5.9% from 2022 levels, and $8.96 in adjusted EPS, up 5.2% from what Hershey reported for 2022.

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.



You’ve Got Money Questions. Let TIME Help With the Answers
Date: Thu, 02 Feb 2023 15:50:27 +0000
From https:
Let TIME help answer them

As People Return to Offices, Itas Back to Miserable for Americaas Working Moms
Date: Thu, 02 Feb 2023 11:30:38 +0000
From https:
Mothers aren"t the only workers affected by the policies, but data on their experiences offer a window into the impact of working from home.

Why Hong Kong Is Giving Away Half a Million Airline Tickets
Date: Thu, 02 Feb 2023 10:59:00 +0000
From https:
The move is part of a global publicity campaign unveiled Thursday to revive the city"s struggling tourism sector.

Big Year for Big Oil as Shell Posts Record Profits While World Struggles With Rising Fuel Prices
Date: Thu, 02 Feb 2023 08:00:04 +0000
From https:
The earnings are the latest evidence of a blowout year for Big Oil, with Exxon Mobil Corp. also reporting a record annual profit in recent days.

Energy firms asked to suspend prepayment meter installs
Date: Thu, 02 Feb 2023 22:47:34 GMT
From https:
British Gas has been heavily criticised for practices around installing prepayment meters.

Mortgages: What happens if I miss a payment?
Date: Thu, 02 Feb 2023 13:58:06 GMT
From https:
Homeowners are worried about higher mortgage costs, but lenders must help those struggling.

Bank of England says recession expected to be shorter and less severe
Date: Thu, 02 Feb 2023 18:12:09 GMT
From https:
Interest rates rise to 4% as the Bank says the slump will last just over a year rather than almost two.

Royal Mail workers to strike again on 16 February
Date: Thu, 02 Feb 2023 18:35:34 GMT
From https:
Around 115,000 postal workers will walk out for 24 hours in a row over pay and conditions, says the CWU.

Argentina unveils new 2,000-peso banknote as inflation bites
Date: Thu, 02 Feb 2023 22:10:15 GMT
From https:
The new 2,000-peso note comes after the country"s annual inflation rate soared to 95% last year.

King Charles will not appear on new Australia $5 note
Date: Thu, 02 Feb 2023 06:30:51 GMT
From https:
The new note will feature a design that "honours the culture and history" of Indigenous Australians.

British Gas admits agents break into struggling customers" homes
Date: Thu, 02 Feb 2023 15:01:23 GMT
From https:
Its boss expresses "horror" that agents entered customers" homes to fit prepayment meters.

Shell reports highest profits in 115 years
Date: Thu, 02 Feb 2023 13:27:24 GMT
From https:
Critics call for higher taxes on energy firms as Shell reports a record $39.9bn of profit.

Water bills to increase by most in almost 20 years from April
Date: Thu, 02 Feb 2023 00:10:35 GMT
From https:
The annual bill for the average household in England and Wales will go up by APS31, Water UK says.

Can Sri Lanka trade its way back to prosperity?
Date: Thu, 02 Feb 2023 00:13:20 GMT
From https:
Ben Chu, Newsnight"s economic editor, takes a closer look at the country"s economic woes.

Adani: How the billionaire"s empire lost $100bn in days
Date: Thu, 02 Feb 2023 12:07:32 GMT
From https:
The business tycoon has seen billions wiped off his wealth after a US investment firm"s scathing report.

Pentagon says it is tracking suspected Chinese spy balloon over U.S.
Date: Thu, 02 Feb 2023 22:55:51 GMT
From https:
Pentagon says it is tracking suspected Chinese spy balloon over U.S.

Ford reports $2 billion loss in 2022, stock off 6% in late trading
Date: Thu, 02 Feb 2023 21:37:00 GMT
From https:
Ford reports $2 billion loss in 2022, stock off 6% in late trading

Apple stock down over 4% after earnings miss, quarterly revenue decline
Date: Thu, 02 Feb 2023 21:34:46 GMT
From https:
Apple stock down over 4% after earnings miss, quarterly revenue decline

Alphabet stock falls 4% as earnings and revenue miss estimates
Date: Thu, 02 Feb 2023 21:11:53 GMT
From https:
Alphabet stock falls 4% as earnings and revenue miss estimates

Amazon stock down 5% after results; Q4 revenue of $149.2 billion tops estimates
Date: Thu, 02 Feb 2023 21:09:18 GMT
From https:
Amazon stock down 5% after results; Q4 revenue of $149.2 billion tops estimates

Nasdaq ends up 3%, extending rally as Meta stock lifts tech sector
Date: Thu, 02 Feb 2023 21:01:20 GMT
From https:
Nasdaq ends up 3%, extending rally as Meta stock lifts tech sector

Cash is no longer trash: Hedge-fund heavyweight Ray Dalio changes his tune
Date: Thu, 02 Feb 2023 16:59:10 GMT
From https:
Cash is no longer trash: Hedge-fund heavyweight Ray Dalio changes his tune

Aircraft purchasing powered a December rise in factory orders
Date: Thu, 02 Feb 2023 16:57:58 GMT
From https:
Aircraft purchasing powered a December rise in factory orders

Record number of U.S. renters spending more than 30% of their incomes on rent
Date: Thu, 02 Feb 2023 16:56:38 GMT
From https:
Record number of U.S. renters spending more than 30% of their incomes on rent

Coronavirus Update: WHO recorded some 20 million new COVID-19 cases in January
Date: Thu, 02 Feb 2023 16:18:32 GMT
From https:
Coronavirus Update: WHO recorded some 20 million new COVID-19 cases in January