Stocks & Bonds

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts (AAP) reported better-than-expected results for its second quarter, with a turnaround in comparable store sales bringing a higher view for the aftermarket parts retailer’s full-year outcome. The Roanoke, Virginia-based company said net sales rose 2.8% in the second quarter to $2.33 billion, beating the consensus on Capital IQ for $2.26 billion. Adjusted earnings increased to $1.97 a […]

Rite Aid Shares Plunge After Announcing $24 Billion Merger With Albertsons Terminated

Rite Aid Shares Plunge After Announcing $24 Billion Merger With Albertsons Terminated

Rite Aid (RAD) shares plunged in early trading on Thursday after the company said its proposed merger with Albertsons Companies was canceled. The companies said in a statement on Wednesday that they’d made a mutual decision to terminate the $24 billion merger, which was originally announced in February. The transaction had been under scrutiny from investors and shareholders. Rite Aid […]

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto (RIO) is exploring an option to publicly list its Iron Ore Company of Canada business as the mining giant aims to improve revenue from its flagship Australian assets, Reuters reported, citing banking and industry sources. Iron Ore is one of Canada’s biggest producers of iron ore. In 2017, it generated revenue of $1.9 billion. It is 59% owned […]

Paddy Power Betfair Lowers Full-Year Operating Earnings Outlook

Paddy Power Betfair Lowers Full-Year Operating Earnings Outlook

Paddy Power Betfair (PPB.L), the British gambling firm, early Wednesday cut its full-year operating earnings outlook because of a planned introduction of taxes in Australia and the need to absorb losses from its FanDuel acquisition, and as adjusted net income fell in the first half. Underlying earnings per share fell to 173.6 pence (224.8 cents) in the six months to […]

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health (CVS) got a boost on Wednesday morning after reporting second-quarter adjusted earnings and sales that beat expectations. Second-quarter adjusted earnings came in at $1.69 a share, topping forecasts from Capital IQ for $1.61 on a normalized basis. The company said GAAP loss was $2.52 a share due to a one-time $3.9 billion, or $3.85 per share, goodwill impairment […]

Henry Schein Gets Price Target Bump at Barrington

Henry Schein Gets Price Target Bump at Barrington

Henry Schein (HSIC) shares were lower on Tuesday, but that didn’t stop Barrington Research analysts from raising its price target on the stock after the company reported better-than-expected financial results. The health care products company on Monday reported second-quarter adjusted earnings of $1.04 per diluted share, up from $0.88 a share last year and topping the $1.01 average estimate from […]

Discovery Communications Misses Views on Adjusted Earnings

Discovery Communications Misses Views on Adjusted Earnings

Discovery Communications (DISCA) released disappointing quarterly results on Tuesday that sent its stock price into the red, with the broadcaster reporting “tepid underlying growth trends,” according to Pivotal Research. Adjusted earnings per diluted share slipped to $0.66 from $0.68, missing the consensus on Capital IQ for $0.86 a share. Revenue jumped 63% to $2.85 billion, in line with the Street’s […]

Bond Prices Slide as Stocks Head Higher – 10-Year 2.945%

Bond Prices Slide as Stocks Head Higher – 10-Year 2.945%

US Treasury prices slid early Tuesday, inching yields higher, along with Japanese government bonds (JGB) and core Europeans, as global equities rallied. The front end of the Treasury curve was under-performing slightly ahead of Tuesday’s $34 billion three-year Treasury auction. The two-year yield was up 0.8 basis point near 2.657%, with the 10-year rate up 0.6 bp to 2.945%. Weakness […]