Thursday, November 30, 2017

Disney CEO Iger buys $1 million worth of Apple stock

Disney CEO Iger buys $1 million worth of Apple stock Stock Market Predictions(Global Markets) - Apple Inc's newest board member, Walt Disney Co Chief Executive Officer Bob Iger, bought about $1 million worth of the iPhone maker's shares earlier this week, a symbolic gesture of confidence in the prospects of the company. Iger, who was appointed to Apple's board on November 15, bought 2,670 Apple shares on the open market on Tuesday at an average price of $375 each, according to a U.S. Securities and Exchange Commission filing.Iger's wife also owns...

Walgreen sales hit by exit from Express Scripts

Walgreen sales hit by exit from Express Scripts Stock Market Predictions(Global Markets) - Walgreen Co (WAG.N) is being hit by its withdrawal from the Express Scripts Inc (ESRX.O) pharmacy network and by a much-weaker-than-expected flu season, leading it to temper its expectations for the number of prescriptions it will fill this year. Walgreen said on Friday that it now expects prescriptions filled in fiscal 2012 to be around the low end of its previous forecast of 97 percent to 99 percent of the prescriptions it filled last year.Walgreen said...

Wednesday, November 29, 2017

Yahoo battle with China's Alibaba intensifies

Yahoo battle with China's Alibaba intensifies Stock Market PredictionsNEW YORK (Global Markets) - Yahoo Inc's battle with Alibaba Group intensified on Friday as they issued contradictory statements over the Chinese company's transfer of a major Internet asset to its chief executive. Analysts said the handover of Alipay, an online e-commerce payment system similar to eBay Inc's PayPal, to Alibaba Chief Executive Jack Ma has reduced the value of Yahoo's 43 percent Alibaba stake. Alibaba also operates China's largest e-commerce company, Alibaba.com...

Schlumberger quarterly results jump, shares rise

Schlumberger quarterly results jump, shares rise Stock Market PredictionsNEW YORK/SAN FRANCISCO (Global Markets) - Schlumberger Ltd (SLB.N) beat estimates with a 64 percent jump in profit on strong U.S. demand and deepwater drilling, while international activity showed clear signs of improvement after a long wait. Schlumberger shares rose 3 percent in early trading, as the world's largest oilfield services company delivered its first set of market-pleasing results this year.The stronger North American trend drove an estimate-beating 54 percent...

Tuesday, November 28, 2017

Atmel shares fall on weak outlook

Atmel shares fall on weak outlook Stock Market Predictions(Global Markets) - Chipmaker Atmel Corp's (ATML.O) shares fell 6 percent on Thursday, a day after the company reported strong first-quarter results but gave a weak second-quarter revenue outlook. Revenue is expected to rise 1-4 percent, sequentially, taking it to $466-$479.9 million, Atmel said in a call.Analysts, on an average, were expecting revenue of $473.2 million, according to Thomson Global Markets I/B/E/S.Investors were also looking for strong second quarter guidance, suggesting...

Bank of America says it has spent $2.1 billion on share exchange

Bank of America says it has spent $2.1 billion on share exchange Stock Market Predictions(Global Markets) - Bank of America Corp (BAC.N) has issued about $2.1 billion in common stock and senior notes as part of a previously announced swap for outstanding securities held by institutional investors, according to a filing Thursday. The second largest U.S. bank said two weeks ago that it planned to issue up to 400 million common shares and $3 billion in debt to retire existing preferred shares and trust preferred securities. The move improves a measure...

Monday, November 27, 2017

Investors brace for European hit on earnings

Investors brace for European hit on earnings Stock Market PredictionsNEW YORK (Global Markets) - Investors are about to find out if the economic woes in Europe are going to deliver a deep wound to U.S. company earnings instead of the mere scratch that many expect. The fourth-quarter reporting period kicks off next week, and all eyes will be on erosion in sales in Europe, where the debt crisis has propelled the region toward a recession. This could dent positive sentiment just as investors start to focus on strong U.S. growth.Analysts believe that...

Time Warner Cable to buy back more stock, shares up

Time Warner Cable to buy back more stock, shares up Stock Market Predictions(Global Markets) - Time Warner Cable Inc (TWC.N) raised its quarterly dividend and surprised Wall Street by announcing plans to buy back $4 billion of its stock, sending shares up more than 8 percent on Thursday. The No. 2 U.S. cable provider also posted a higher quarterly profit as it added more customers than expected for its broadband services and stemmed the decline in its video business.The company raised its quarterly dividend by 17 percent to 56 cents a share, which...

Sunday, November 26, 2017

Achillion shares fall on concerns over hep C drug's future

Achillion shares fall on concerns over hep C drug's future Stock Market Predictions(Global Markets) - Achillion Pharmaceuticals' (ACHN.O) shares fell 12 percent on Friday, shedding some of their recent gains amid concerns raised by an investment website on the future of the company's key hepatitis C drug. On Thursday, investment website Seeking Alpha said the company was at a disadvantage as none of its hepatitis drugs in development were nucleosides.While Brean Murray Carret analyst Brian Skorney felt the investor reaction was a fallout of the...

Netflix lowers U.S. subscriber forecast; shares fall

Netflix lowers U.S. subscriber forecast; shares fall Stock Market Predictions(Global Markets) - Netflix Inc cut its third-quarter forecast by 1 million U.S. subscribers, sending its shares down nearly 19 percent, as the company known for rapid growth expects more fallout from a price increase on its DVD service. On Thursday, Netflix said it would have 24 million subscribers at the end of the third quarter, down from a prior forecast of about 25 million given soon after the July announcement of the price increase.The decision by Chief Executive...

Saturday, November 25, 2017

Cardinal wins order lifting DEA suspension in Florida

Cardinal wins order lifting DEA suspension in Florida Stock Market PredictionsBOSTON/WASHINGTON (Global Markets) - Cardinal Health Inc (CAH.N) won an order on Friday blocking the U.S. Drug Enforcement Administration's suspension of its license to distribute potentially addictive medicines from its Florida facility. The DEA ordered suspension because Cardinal knew, or should have known, that the pharmacies were inappropriately filling prescriptions for oxycodone by physicians for illegitimate reasons, the company said.Cardinal filed a request in...

Yum plans to buy out Little Sheep for $586 million

Yum plans to buy out Little Sheep for $586 million Stock Market PredictionsHONG KONG (Global Markets) - Yum Brands Inc (YUM.N), parent of the KFC, Taco Bell and Pizza Hut fast-food chains, has offered to buy out China's Little Sheep (0968.HK) for $586 million, paying a premium to introduce the popular hot pot chain to a global audience and sending the Chinese restaurant shares to a record. Analysts said the deal was positive for both Yum Brands as it expands in China and for Little Sheep, which has more than 300 hot-pot restaurants, primarily...

Friday, November 24, 2017

U.S. bank shares fall on Europe, stress test concerns

U.S. bank shares fall on Europe, stress test concerns Stock Market Predictions(Global Markets) - Bank stocks took a nose-dive on Wednesday on concerns about the European debt crisis and rigorous stress tests unveiled by the Federal Reserve on Tuesday, analysts said. Bank of America Corp (BAC.N) shares fell 4.3 percent to $5.14, near a 52-week low of $5.13 touched in early October. It was the lowest closing price for the bank since March 2009.Other banks whose shares declined were Citigroup (C.N), down 3.8 percent, and Morgan Stanley (MS.N), down...

Toyota forecasts 35 percent profit slide after quake

Toyota forecasts 35 percent profit slide after quake Stock Market PredictionsTOKYO (Global Markets) - Toyota Motor Corp forecast a larger-than-expected 35 percent fall in annual profit on Friday and warned that the strong yen was making it difficult to justify keeping production in Japan. Toyota has struggled to restore output after a massive 9.0 earthquake in March rocked northeastern Japan and forced automakers to slash output. The ensuing nuclear disaster and power shortages have compounded their woes.The production disruption will likely see...

Thursday, November 23, 2017

WellCare says whistleblower withdraws objection to settlement

WellCare says whistleblower withdraws objection to settlement Stock Market Predictions(Global Markets) - WellCare Health Plans Inc said a whistleblower withdrew his objection to a proposed $137.5 million settlement in a health care fraud case, paving the way for a deal to end a federal investigation. In 2010, WellCare agreed to pay $137.5 million to the U.S. Department of Justice and other federal agencies to settle lawsuits accusing the health insurer of overcharging for its Medicaid and Medicare programs.However, the settlement could not be executed...

DOJ seeks trustee in Solyndra bankruptcy

DOJ seeks trustee in Solyndra bankruptcy Stock Market Predictions(Global Markets) - The U.S. Department of Justice is seeking to give control of Solyndra's estate to a bankruptcy trustee, citing the refusal by executives at the solar power company to answer questions about its operations. Just days after the company's September 6 bankruptcy filing, the Federal Bureau of Investigation raided Solyndra's headquarters in Fremont, California. And Congress is investigating the role political connections played in securing a government loan guarantee...

Wednesday, November 22, 2017

Analysis: Biogen investors place bets ahead of MS drug trial

Analysis: Biogen investors place bets ahead of MS drug trial Stock Market PredictionsBOSTON (Global Markets) - Over the past year, Biogen Idec Inc has given investors little to complain about. The biotechnology company, operating under new management, has restructured its operations, reported promising clinical trial data and seen its shares rise 72 percent. The question is: can it hang onto its gains?Much depends on the results, to be released within weeks, of a second, late-stage clinical trial of its experimental multiple sclerosis drug, BG-12.Results...

Slim's America Movil slumps on regulation worries

Slim's America Movil slumps on regulation worries Stock Market PredictionsMEXICO CITY (Global Markets) - Shares in billionaire Carlos Slim's America Movil fell to their lowest price since March 2010 on Friday following a report that suggested a regulator might make the telecommunications firm cut fees in Mexico. Shares in America Movil lost 4.01 percent to 28.67 pesos, their biggest one-day drop in 17 months.Bloomberg News reported that Mony de Swaan, head of telecommunications regulator Cofetel, said America Movil could face "a mix of different...

Tuesday, November 21, 2017

Priceline profit higher as bookings jump

Priceline profit higher as bookings jump Stock Market PredictionsNEW YORK (Global Markets) - Online travel agency Priceline.com on Thursday posted a higher quarterly profit that topped analysts' expectations as strong growth at its overseas markets boosted bookings. Priceline also forecast third-quarter profit above Wall Street expectations and its shares jumped 10 percent in after-hours trading to $532.56."People plan their summer travel in advance and they are taking their trips now even if they are somewhat concerned about the economy," Priceline...

Glencore boss Glasenberg buys shares, eyes more

Glencore boss Glasenberg buys shares, eyes more Stock Market PredictionsLONDON (Global Markets) - Ivan Glasenberg, chief executive of commodity trader Glencore (GLEN.L), has bought 10 million pounds ($15.8 million) of shares in the group and said he would seek to buy more over coming days to add to his stake of almost 16 percent. The company said Glasenberg, its largest single shareholder, would seek to continue buying shares up to and including September 21 and up to a total of $54 million, the value of dividends due at the end of the month in...

Monday, November 20, 2017

Deckers, Crocs slide on weak first-quarter profit outlooks

Deckers, Crocs slide on weak first-quarter profit outlooks Stock Market Predictions(Global Markets) - Shares of shoemakers Deckers Outdoor Corp (DECK.O) and Crocs Inc (CROX.O) slumped in morning trade on Friday, after they forecast disappointing first-quarter earnings on rising costs of raw materials. Deckers shares slipped more than 12 percent on Friday, while those of Crocs fell 8 percent.Deckers stock has lost almost a third of its value since October 2011, when it raised it full-year revenue outlook due to increased demand of its sheepskin...

Wynn withdraws Macau announcement, shares climb

Wynn withdraws Macau announcement, shares climb Stock Market PredictionsLOS ANGELES (Global Markets) - Wynn Resorts Ltd (WYNN.O) retracted an announcement that it had advanced a major project in Macau, saying it had been made in error after its shares surged on the news. The stock, halted after that initial run-up, resumed trade shortly after and closed up 4.27 percent at $127.27.Earlier on Friday, Wynn said a land concession contract had been published in the official gazette of Macau, a step toward allowing the company and a partner to develop...

Sunday, November 19, 2017

Microsoft Windows fizzles as PC fears loom

Microsoft Windows fizzles as PC fears loom Stock Market PredictionsSEATTLE (Global Markets) - Sales of Microsoft Corp's flagship Windows software disappointed for the third straight quarter, taking the gloss off better-than-expected earnings that were aided by an unusually low tax rate. The results failed to excite a market already wary about growth prospects for the company and PC industry as netbook sales give way to tablets. The stock was flat in after-hours trading."All eyes are on Windows and how they are ultimately going to extend this franchise...

Monster soars as CEO mulls "strategic alternatives"

Monster soars as CEO mulls "strategic alternatives" Stock Market Predictions(Global Markets) - Monster Worldwide Inc Chief Executive Sal Iannuzzi told investors on Thursday that the operator of the job-search website was considering all "strategic alternatives," sending the company's shares up more than 17 percent. "Our shareholders deserve a better return," Iannuzzi told an investor conference. "The board and the management is also focused on pursuing all strategic alternatives to increase shareholder value."Iannuzzi did not specify what alternatives...

Saturday, November 18, 2017

Mongolia, Ivanhoe, Rio agree on mine; shares rise

Mongolia, Ivanhoe, Rio agree on mine; shares rise Stock Market PredictionsLONDON/TORONTO (Global Markets) - The Mongolian government, Ivanhoe Mines (IVN.TO) and partner Rio Tinto (RIO.L) have agreed to back a 2009 investment agreement for the Oyu Tolgoi copper-gold deposit, ending discussions over possible changes and sending shares of Ivanhoe up as much as 18 percent. The news calmed investors, who had sold off the stock last month after Mongolia's finance minister told local media that the government was discussing changes to the terms and conditions...

BofA sued by shareholder over $10 billion AIG loss

BofA sued by shareholder over $10 billion AIG loss Stock Market PredictionsNEW YORK (Global Markets) - A Bank of America Corp (BAC.N) shareholder sued the bank on Friday for what he said was a failure to disclose it potentially owes more than $10 billion to American International Group Inc (AIG.N) in connection with mortgage-backed securities. The lawsuit, filed in U.S. District Court in Manhattan, seeks class action status on behalf of purchasers of Bank of America stock between February 25 and August 5 this year.AIG, which was bailed out by...

Friday, November 17, 2017

Research in Motion stock: the next PALM?

Research in Motion stock: the next PALM? Stock Market PredictionsNEW YORK (Global Markets) - Some investors are betting Research in Motion's stock is in for more pain, even after a rough three years. Shares of the BlackBerry maker have lost more than 38 percent since February. Investor attempts to pick a bottom in the stock have been run over by a slide dating from June 2008, when it peaked at $148.Some in the options market don't see the trend arresting itself, making long-term bearish bets that RIM shares will fall to the mid-$30s by January...