Stocks making the biggest moves midday: Johnson & Johnson, Stitch Fix, Illumina, Merck & more

Milacron Holdings — Shares of the plastics-processing equipment maker surged 23% Friday after it agreed to be bought by industrial equipment maker Hillenbrand. Illumina — Shares of the biotech company dropped more than 16% Friday after reporting disappointing revenue. Stitch Fix — The online personal styling service’s stock jumped 1% after Goldman Sachs upgraded to buy from neutral. Merck & Co — The pharmaceutical company closed Friday down 1.6% following an announcement yesterday from the White


Milacron Holdings — Shares of the plastics-processing equipment maker surged 23% Friday after it agreed to be bought by industrial equipment maker Hillenbrand. Illumina — Shares of the biotech company dropped more than 16% Friday after reporting disappointing revenue. Stitch Fix — The online personal styling service’s stock jumped 1% after Goldman Sachs upgraded to buy from neutral. Merck & Co — The pharmaceutical company closed Friday down 1.6% following an announcement yesterday from the White
Stocks making the biggest moves midday: Johnson & Johnson, Stitch Fix, Illumina, Merck & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: kate rooney
Keywords: news, cnbc, companies, johnson, stitch, making, illumina, biggest, pharmaceutical, midday, upgraded, reported, merck, stock, moves, closed, company, report, shares, stocks, revenue, neutral, fix


Stocks making the biggest moves midday: Johnson & Johnson, Stitch Fix, Illumina, Merck & more

Check out the companies making headlines in midday trading:

Johnson & Johnson — Shares of the pharmaceutical and consumer goods company fell more than 5% after Bloomberg News reported that the U.S. Justice Department is launching a criminal investigation into whether or not the company lied to the public about potential cancer risks in its talcum baby powder. The reported probe comes after thousands of cancer patients launched a civil suit claiming that asbestos in J&J’s talc was responsible for their disease.

Milacron Holdings — Shares of the plastics-processing equipment maker surged 23% Friday after it agreed to be bought by industrial equipment maker Hillenbrand. The cash and stock deal is valued at roughly $2 billion, according to the companies, and represents a 34% to where Milacron closed on Thursday. Hillenbrand shares meanwhile dropped 10%.

Apellis Pharmaceuticals — The clinical-stage biopharmaceutical company jumped more than 4% after it was upgraded to overweight from neutral by J.P. Morgan Friday. The bank’s analyst highlighted opportunities in a later stage blood disease drug and said the asset was underappreciated.

Illumina — Shares of the biotech company dropped more than 16% Friday after reporting disappointing revenue. Illumina said it sees sales coming in around $835 million for the quarter, versus the $887.9 million in revenue analysts polled by Refinitiv were expecting.

Stitch Fix — The online personal styling service’s stock jumped 1% after Goldman Sachs upgraded to buy from neutral. According to the analyst, the company is expected to outperform due to “product innovation, operational efficiencies, and geographic expansion, combined with the increase in retail store closures (particularly in apparel).” Shares later closed nearly 2% lower.

Merck & Co — The pharmaceutical company closed Friday down 1.6% following an announcement yesterday from the White House that the Trump administration was abandoning a proposal which would have gotten rid of rebates from government drug plans.

Lincoln Electric Holdings — Shares of the manufacturer of welding products rose 3.5% after R.W. Baird upgraded the to outperform from neutral, citing a drop in input costs and low expectations, among other things.

— CNBC’s Mallika Mitra contributed to this report and Elizabeth Myong contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: kate rooney
Keywords: news, cnbc, companies, johnson, stitch, making, illumina, biggest, pharmaceutical, midday, upgraded, reported, merck, stock, moves, closed, company, report, shares, stocks, revenue, neutral, fix


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What Americans really think the government should do to fix Social Security

It’s no secret that Social Security needs to be tweaked in order to fix the program’s solvency. And research from the latest Aegon Retirement Readiness Survey shows just how far Americans think politicians need to go to shore up the system. Just 8% of Americans surveyed said they think the government should take no action and that the program will be “perfectly affordable” in the future. The most popular answer from respondents, with 32%, said the government should increase overall funding for t


It’s no secret that Social Security needs to be tweaked in order to fix the program’s solvency. And research from the latest Aegon Retirement Readiness Survey shows just how far Americans think politicians need to go to shore up the system. Just 8% of Americans surveyed said they think the government should take no action and that the program will be “perfectly affordable” in the future. The most popular answer from respondents, with 32%, said the government should increase overall funding for t
What Americans really think the government should do to fix Social Security Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: lorie konish
Keywords: news, cnbc, companies, security, americans, transamerica, think, really, fix, overall, social, retirement, action, program, popular


What Americans really think the government should do to fix Social Security

It’s no secret that Social Security needs to be tweaked in order to fix the program’s solvency.

And research from the latest Aegon Retirement Readiness Survey shows just how far Americans think politicians need to go to shore up the system.

Just 8% of Americans surveyed said they think the government should take no action and that the program will be “perfectly affordable” in the future.

“The fact that fewer than one in 10 think that no action is needed is quite telling,” said Catherine Collinson, CEO and president of the Transamerica Institute and Transamerica Center for Retirement Studies.

The most popular answer from respondents, with 32%, said the government should increase overall funding for the program. The next most popular solution, with 21% , supports a balanced approach that would include reducing individual payments and some tax increases. Meanwhile, 18% said the government should reduce the overall cost of Social Security.


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: lorie konish
Keywords: news, cnbc, companies, security, americans, transamerica, think, really, fix, overall, social, retirement, action, program, popular


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Boeing 737 Max likely grounded until the end of the year after new problem emerges

Boeing’s 737 Max could stay on the ground until late this year after a new problem emerged with the plane’s in-flight control chip. Boeing hopes to submit all of its fixes to the Federal Aviation Administration this fall, the Boeing official said. “We believe additional items will be remedied by a software fix.” Boeing will need to reach agreement with airlines and pilots unions on how much extra training pilots will need. The global Max fleet was grounded in mid-March following two fatal crashe


Boeing’s 737 Max could stay on the ground until late this year after a new problem emerged with the plane’s in-flight control chip. Boeing hopes to submit all of its fixes to the Federal Aviation Administration this fall, the Boeing official said. “We believe additional items will be remedied by a software fix.” Boeing will need to reach agreement with airlines and pilots unions on how much extra training pilots will need. The global Max fleet was grounded in mid-March following two fatal crashe
Boeing 737 Max likely grounded until the end of the year after new problem emerges Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: elijah shama
Keywords: news, cnbc, companies, issue, end, fix, software, boeing, likely, pilots, problem, official, emerges, planes, mcas, grounded, need, max, 737


Boeing 737 Max likely grounded until the end of the year after new problem emerges

Boeing’s 737 Max could stay on the ground until late this year after a new problem emerged with the plane’s in-flight control chip.

This latest holdup in the plane’s troubled recertification process has to do with a chip failure that can cause uncommanded movement of a panel on the aircraft’s tail, pointing the plane’s nose downward, a Boeing official said. Subsequent emergency tests to fix the issue showed it took pilots longer than expected to solve the problem, according to The Wall Street Journal.

This marks a new problem with the plane unrelated to the issues Boeing is already facing with the plane’s MCAS automated flight control system, an issue the company maintains can be remedied by a software fix. Boeing hopes to submit all of its fixes to the Federal Aviation Administration this fall, the Boeing official said.

“We’re expecting a September time frame for a full software package to fix both MCAS and this new issue,” the official said. “We believe additional items will be remedied by a software fix.”

Once that software package is submitted, it will likely take at least another two months before the planes are flying again. The FAA will need time to recertify the planes. Boeing will need to reach agreement with airlines and pilots unions on how much extra training pilots will need. And the airlines will need some time to complete necessary maintenance checks.

FAA spokesman Lynn Lunsford declined to comment on a specific timeline for the plane’s recertification, saying, “We have steadfastly stayed away from offering any timelines.”

The global Max fleet was grounded in mid-March following two fatal crashes, in which a malfunction of MCAS was implicated. The crashes killed 346 people combined.


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: elijah shama
Keywords: news, cnbc, companies, issue, end, fix, software, boeing, likely, pilots, problem, official, emerges, planes, mcas, grounded, need, max, 737


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Jamie Dimon sounds off on student debt crisis: ‘What we’ve done is a disgrace’

JP Morgan chief Jamie Dimon says we need to “fix the broken parts” of student lending in the United States. “What we’ve done is a disgrace and it’s hurting America,” JP Morgan’s chairman and CEO told Yahoo Finance in an interview Tuesday. With $1.6 trillion outstanding student debt in the United States, student lending is crippling many Americans. Today the average college graduate leaves school $30,000 in the debt, up from $10,000 in the 1990s. “I think they should look at all parts of student


JP Morgan chief Jamie Dimon says we need to “fix the broken parts” of student lending in the United States. “What we’ve done is a disgrace and it’s hurting America,” JP Morgan’s chairman and CEO told Yahoo Finance in an interview Tuesday. With $1.6 trillion outstanding student debt in the United States, student lending is crippling many Americans. Today the average college graduate leaves school $30,000 in the debt, up from $10,000 in the 1990s. “I think they should look at all parts of student
Jamie Dimon sounds off on student debt crisis: ‘What we’ve done is a disgrace’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, dimon, parts, need, crisis, student, school, jp, disgrace, fix, sounds, weve, debt, jamie, united, lending


Jamie Dimon sounds off on student debt crisis: 'What we've done is a disgrace'

JP Morgan chief Jamie Dimon says we need to “fix the broken parts” of student lending in the United States.

“What we’ve done is a disgrace and it’s hurting America,” JP Morgan’s chairman and CEO told Yahoo Finance in an interview Tuesday.

With $1.6 trillion outstanding student debt in the United States, student lending is crippling many Americans. Today the average college graduate leaves school $30,000 in the debt, up from $10,000 in the 1990s.

“I think they should look at all parts of student lending, fix the broken parts, and then forgive those people [who] need forgiveness, and then help people get into school, and then make sure the schools are responsible in getting the kids out,” Dimon said.


Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, dimon, parts, need, crisis, student, school, jp, disgrace, fix, sounds, weve, debt, jamie, united, lending


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If Facebook and Google don’t fix their problems, advertising execs say they could go somewhere else

The other question, posed by a number of Democratic presidential candidates: Should Facebook and Google be broken up? The largest companies in the industry teamed up to announce a new “Alliance for Responsible Content” at this year’s festival. “We’re working with Google, Facebook, Twitter, and 16 advertisers, together with all of the major holding companies. For other companies here, the pressure on Google and Facebook poses an opportunity. And AT&T’s ad tech division, Xandr, is also hoping to b


The other question, posed by a number of Democratic presidential candidates: Should Facebook and Google be broken up? The largest companies in the industry teamed up to announce a new “Alliance for Responsible Content” at this year’s festival. “We’re working with Google, Facebook, Twitter, and 16 advertisers, together with all of the major holding companies. For other companies here, the pressure on Google and Facebook poses an opportunity. And AT&T’s ad tech division, Xandr, is also hoping to b
If Facebook and Google don’t fix their problems, advertising execs say they could go somewhere else Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: julia boorstin
Keywords: news, cnbc, companies, ceo, really, content, execs, platforms, say, companies, ad, fix, tech, advertisers, facebook, problems, advertising, google, dont


If Facebook and Google don't fix their problems, advertising execs say they could go somewhere else

This year as executives from the world’s biggest brands and ad agencies gathered on the French Riviera for the annual Cannes Lions advertising festival, Facebook and Google, which control the majority of all digital advertising, are facing unprecedented scrutiny.

Governments around the world are looking to hold these two giants — called the “digital duopoly” — accountable for the content posted on their platforms and for the way they protect users data.

The other question, posed by a number of Democratic presidential candidates: Should Facebook and Google be broken up? These potential regulatory challenges come as executives from around the world meet to discuss where to invest the $600 billion expected to be spent on advertising worldwide this year.

The largest companies in the industry teamed up to announce a new “Alliance for Responsible Content” at this year’s festival. Sixteen of the world’s largest advertisers along with the ad agencies and tech platforms — Facebook, Twitter and Google — are working to create standards for what’s considered appropriate content and expectations of how they’ll prevent offensive and inappropriate content from surfacing.

This comes as Sen. Josh Hawley, R-Mo., proposes new legislation that would remove the tech companies’ protection from liability from the content on their platforms by overhauling Section 230 of the Communications Decency Act.

“Brand safety is critical for every brand. No one wants to see your ad suggesting people buy next to a jihadist video,” said Michael Kassan, CEO of MediaLink, whose parent company Ascential runs the conference. “It’s about protecting that. The platforms have the same level of responsibility. If your network was putting things like that on the air, the FCC would be looking very carefully.”

“When I talk to our clients, they’re really concerned about the platforms on which their messages are received. They want to be in brand-safe platforms,” said Mark Read, CEO of WPP, one of the world’s largest advertisers.

“We’re working with Google, Facebook, Twitter, and 16 advertisers, together with all of the major holding companies. … It’s really an initiative to bring people together for collective action to make sure the platforms are safe places for our clients to reach their consumers,” Read said.

The chief brand officer of one of those participating companies, Procter & Gamble’s Marc Pritchard, said this is about more than just removing terrorist content.

“We really expect to ensure that the platforms have control over their content and the quality of their content,” Pritchard said. “The other piece, which we’ve called out many times before, if we want to have more civility when it comes to editorial comments, so we have a civil internet. Just as we have on TV, like we have on radio, like we have in print.”

WPP’s Read said these companies should be held to a higher standard, but he also said he does not believe that it would help consumers to break the companies up.

“Clearly with the shift online these two companies are ever more powerful. But you have to ask ourselves, ‘What are we really trying to achieve by the people who’s going to be broken up?'” Read said. “And is that really going to make the world a better place? The great benefit of these platforms for consumers is most of their products are free.”

Michael Roth, CEO of IPG, said brands will start to move their dollars if things don’t change.

“Everyone talks about government regulation breaking [Google and Facebook] up. But what really will happen is our clients will start not spending with them. And that will be the biggest effect eventually if it doesn’t get corrected,” Roth said.

Kassan said that this is a “Network” moment, with the advertisers saying they’re “mad as hell and not going to take it anymore.” He said they’ll have to “not just move their lips, but also move their feet.” And now, Roth and Kassan agree that there are a growing wealth of ad options, including Amazon, Snap and Hulu.

For other companies here, the pressure on Google and Facebook poses an opportunity. Conde Nast, the magazine publisher that’s been investing heavily in digital video, is positioning itself as means for brands to access YouTube’s viewers without the risk.

“We’re the largest premium publisher on YouTube today,” Conde Nast CEO Roger Lynch said. “And so advertisers who may not want to advertise just broadly on YouTube will advertise through us on YouTube.”

Lynch said he knows they are working with advertisers who won’t advertise on YouTube, but will advertise through Conde Nast on YouTube.

And AT&T’s ad tech division, Xandr, is also hoping to benefit from the growing scrutiny facing its much larger rivals.

“I think it’s becoming more and more difficult for technology platforms to claim they have no responsibility for the content that is shared on their platforms,” Xandr CEO Brian Lesser said. “I don’t know if it’s about breaking up, and don’t know the extent of what Sen. Hawley is introducing, but I do think it is time for the big digital platforms to take some responsibility for the content.”

As for the question of whether regulation of the biggest ad platforms would be bad for the tech industry, Kassan said it’s a question of what the regulation looks like.

“You had Enron and then you ended up with Sarbanes-Oxley,” Kassan said, referring to the law that changed how the financials of public companies were regulated after the collapse of Enron. “I would suggest that Sarbanes-Oxley was an overreaction. My hope would be we don’t see that happen in tech. And the challenge of course is those who are making the decisions in the various regulatory agencies are not as steeped in the tech. You hope that the decision-making process is not done in a vacuum.”


Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: julia boorstin
Keywords: news, cnbc, companies, ceo, really, content, execs, platforms, say, companies, ad, fix, tech, advertisers, facebook, problems, advertising, google, dont


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Stocks making the biggest moves midday: AMD, Stitch Fix, Cloudera & more

Stitch Fix reported earnings per share of 7 cents, while analysts polled by Refinitiv expected a loss of 3 cents. Same-store sales dropped 1.3%, while analysts estimated a drop of 0.8%. Tesla sales rose 73% last month compared to last year. Dermira — Shares of the dermatology drug company rose 4.8% after an analyst at Mizuho upgraded them to buy from neutral. The company posted revenue of $1.094 billion, missing expectations.


Stitch Fix reported earnings per share of 7 cents, while analysts polled by Refinitiv expected a loss of 3 cents. Same-store sales dropped 1.3%, while analysts estimated a drop of 0.8%. Tesla sales rose 73% last month compared to last year. Dermira — Shares of the dermatology drug company rose 4.8% after an analyst at Mizuho upgraded them to buy from neutral. The company posted revenue of $1.094 billion, missing expectations.
Stocks making the biggest moves midday: AMD, Stitch Fix, Cloudera & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: fred imbert
Keywords: news, cnbc, companies, stitch, posted, revenue, cents, samestore, sales, fix, company, amd, moves, cloudera, earnings, stocks, share, shares, midday, biggest, rose, making


Stocks making the biggest moves midday: AMD, Stitch Fix, Cloudera & more

Check out the companies making headlines midday Thursday:

Advanced Micro Devices — AMD rose 7.9% after Morgan Stanley upgraded the stock to equal weight from underweight and raised the price target to $28 from $17, saying being cautious on AMD has “obviously been the wrong call.” The bank said AMD has consistently performed well among its competitors Intel and Nvidia.

Ciena — Shares of the telecom supplier surged more than 26% on fiscal second-quarter earnings that topped expectations. Ciena reported adjusted earnings per share of 48 cents. Analysts polled by Refinitiv expected a profit of 33 cents a share.

Stitch Fix — Stitch Fix soared more than 14% after the online personal styling company beat on the top and bottom lines of its fiscal third quarter results. Stitch Fix reported earnings per share of 7 cents, while analysts polled by Refinitiv expected a loss of 3 cents. Revenue came in at $409 million, notching seven consecutive quarters of more than 20% growth.

Signet Jewelers — Shares of Signet fell 1.2% after reporting lower-than-expected same-store sales for the first quarter. Same-store sales dropped 1.3%, while analysts estimated a drop of 0.8%. Signet posted earnings per share of 8 cents on revenue of $1.432 billion. Wall Street estimated a loss of 23 cents per share on revenue of $1.415 billion, according to Refinitiv.

Tesla — Tesla shares jumped 4.8% as Wall Street cheered the company’s sales in May. Tesla sales rose 73% last month compared to last year. That outperformed electric vehicle sales from Audi, BMW, Jaguar, Chevrolet and Nissan.

Dermira — Shares of the dermatology drug company rose 4.8% after an analyst at Mizuho upgraded them to buy from neutral. The analyst cited expectations its lebrikizumab will get licensed for commercialization in the European Union later this year.

MongoDB — The database programming company fell 0.8% after its second-quarter guidance disappointed investors. MongoDB expects a to lose between 27 cents and 29 cents per share. FactSet expected guidance of a loss of 27 cents.

Cloudera — Shares of the cloud company plunged more than 40% the company announced CEO Tom Reilly is retiring from his post, effective July 31.

Michaels Companies — Shares of the arts and crafts retailer plunged 12.4% after sales disappointed and the company cut its full-year earnings forecast. The company posted revenue of $1.094 billion, missing expectations. It also posted weaker-than-expected same-store sales.

—CNBC’s Maggie Fitzgerald contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: fred imbert
Keywords: news, cnbc, companies, stitch, posted, revenue, cents, samestore, sales, fix, company, amd, moves, cloudera, earnings, stocks, share, shares, midday, biggest, rose, making


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Stitch Fix CEO says it’s getting better at finding the most valuable customers for its service

Lake said the data it collects from users is “super valuable” and helps Stitch Fix better identify clients “that we know we’re going to be able to serve best” and would be a good match for the company. Stitch Fix said it strengthened its men’s business by increasing its product assortment and adding more exclusive brands to its selection. Stitch Fix said renewal rates for Style Pass were 70% across its men’s and women’s business. Stitch Fix has posted seven consecutive quarters of more than 20%


Lake said the data it collects from users is “super valuable” and helps Stitch Fix better identify clients “that we know we’re going to be able to serve best” and would be a good match for the company. Stitch Fix said it strengthened its men’s business by increasing its product assortment and adding more exclusive brands to its selection. Stitch Fix said renewal rates for Style Pass were 70% across its men’s and women’s business. Stitch Fix has posted seven consecutive quarters of more than 20%
Stitch Fix CEO says it’s getting better at finding the most valuable customers for its service Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: ashley turner
Keywords: news, cnbc, companies, stitch, ceo, service, valuable, better, revenue, fix, customers, company, quarter, getting, million, clients, client, finding, billion


Stitch Fix CEO says it's getting better at finding the most valuable customers for its service

If you wear premium jeans, then Stitch Fix’s algorithm may have its eyes on you.

The personal styling company uses predictive algorithms to look at a number of attributes to determine who will make a successful client. This approach proved very successful in the latest quarter, with the company beating third-quarter estimates on the top and bottom lines, sending its stock up nearly 15% Thursday.

“There’s a huge number of attributes that we find correlate with Stitch Fix and being able to deploy them, not just in terms of how we’re mapping products for clients once they’re in the service, but to be able to use that in identifying good clients, is a strength that has been a newer strength for us,” CEO Katrina Lake said Thursday on CNBC.

Lake said the data it collects from users is “super valuable” and helps Stitch Fix better identify clients “that we know we’re going to be able to serve best” and would be a good match for the company. The data has helped the company remain virtually unharmed by the wreck that has hit the stocks of apparel retailers recently.

As of the end of last week, apparel retailers’ earnings, as a group, were down 24% for the first quarter of 2019, according to an analysis by Retail Metrics.

“I think to be able to have a focus strategy around ‘How do you acquire clients that are going to be great for your service?” versus ‘How do you just acquire as many clients as possible?’ is definitely the strategy that we employ,” Lake said.

Stitch Fix’s active clients — people who received a box of clothing in the preceding 12-month period — came in at 3.1 million, an increase of 17% year over year.

In the second quarter of fiscal 2019, the company launched its new algorithm application that allows it to predict product demand by using data they obtain from styling reviews and quizzes on the app. Lake partially attributed the company’s strong performance that quarter to the algorithm.

Stitch Fix said it strengthened its men’s business by increasing its product assortment and adding more exclusive brands to its selection.

The company also credited its year-old service Style Pass for improving client retention, growing average revenue per client and increasing client satisfaction compared with non-Style Pass clients. The service offers unlimited styling for a yearly $49 fee, which is credited toward items a client purchases. Stitch Fix said renewal rates for Style Pass were 70% across its men’s and women’s business. The service is only available for select clients at the time.

For the third quarter ended April 27, Stitch Fix said net income dropped to $7 million, or 7 cents a share, from $9.5 million, or 9 cents a share, a year ago. Analysts predicted results at a loss of 3 cents per share, based on a poll by Refinitiv.

Stitch Fix has posted seven consecutive quarters of more than 20% growth in revenue since it became a public company in 2017. Sales in the third quarter of 2019 grew 29% to $408.9 million, widely beating the $394.9 million analysts expected.

The company raised its revenue forecast for 2019 to a range of $1.57 billion to $1.58 billion, up from previous estimates of $1.53 billion to $1.56 billion. For the fourth quarter, revenue will be between $425 million and $435 million.

Adjusted EBITDA will be between $5 million and $10 million in the fourth quarter and between $38 million and $43 million for the year.

The company, which has a market cap of $2.7 billion, has seen its stock surge more than 55% since the start of the year.


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: ashley turner
Keywords: news, cnbc, companies, stitch, ceo, service, valuable, better, revenue, fix, customers, company, quarter, getting, million, clients, client, finding, billion


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Stocks can go back to record highs if the Fed can fix the bond market, strategist Jim Paulsen says

Stocks could continue their run all the way back to record highs if the Federal Reserve addresses the current upside-down yields in the bond market, the Leuthold Group’s chief investment strategist told CNBC on Wednesday. “The Fed needs to take out the inverted curve fear more than they need to address the fundamental fallout from the trade war,” Jim Paulsen said on “Squawk on the Street. ” “If they do that, then I think the underlying economy is going to be OK and the stock market goes on to ne


Stocks could continue their run all the way back to record highs if the Federal Reserve addresses the current upside-down yields in the bond market, the Leuthold Group’s chief investment strategist told CNBC on Wednesday. “The Fed needs to take out the inverted curve fear more than they need to address the fundamental fallout from the trade war,” Jim Paulsen said on “Squawk on the Street. ” “If they do that, then I think the underlying economy is going to be OK and the stock market goes on to ne
Stocks can go back to record highs if the Fed can fix the bond market, strategist Jim Paulsen says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, investors, fix, yield, tariffs, bonds, strategist, war, paulsen, jim, highs, market, fed, bond, stocks, record, trade, rate, yields


Stocks can go back to record highs if the Fed can fix the bond market, strategist Jim Paulsen says

Stocks could continue their run all the way back to record highs if the Federal Reserve addresses the current upside-down yields in the bond market, the Leuthold Group’s chief investment strategist told CNBC on Wednesday.

“The Fed needs to take out the inverted curve fear more than they need to address the fundamental fallout from the trade war,” Jim Paulsen said on “Squawk on the Street. ” “If they do that, then I think the underlying economy is going to be OK and the stock market goes on to new highs.”

That inverted yield curve, when shorter-term bonds deliver higher rates than longer-term bonds, has historically signaled a recession on the horizon.

“Fundamentally, the economy is in not that bad of a shape,” Paulsen said. He said investors are “overblowing the negative impact of the trade war” between the U.S. and China.

Talk of the Fed keeping interest rates on hold for a while has shifted to calls for rate cuts to support any slide in economic growth. Hopes for a rate reduction were supporting stocks again, after Wall Street saw its second-best day of the year on Tuesday. As of Tuesday’s close, the S&P 500 was about 5% below its all-time intraday high of 2,954, set on May 1.

Paulsen said the U.S. couldn’t have picked a better time to increase tariffs because price pressures are so low that the Fed would actually welcome any increases in inflation. U.S. tariffs on Chinese imports would have to go on for a “considerable period of time” before price increases would cause any troubling inflation, he added.

Treasury yields have been falling over the past month as trade and economic tensions between the U.S. and China have created uncertainty and investors have sought the perceived safety of the bond market. This has pushed fixed-income prices higher and yields, which move inversely, lower.

However, the decline of longer-term bonds has been more rapid, with the rate on the benchmark 10-year Treasury below that of the 3-month note. The 10-year yield was trading around 2.11%, about 20 basis points below the 3-month. Investors can usually expect to get a better return for holding debt for a longer period of time.

The U.S. and China are currently stalled on talks to find an end to the trade war between the two largest economies. In May, both of the countries increased duties on one another, which has rattled markets.


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, investors, fix, yield, tariffs, bonds, strategist, war, paulsen, jim, highs, market, fed, bond, stocks, record, trade, rate, yields


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Stocks making the biggest moves after hours: Cloudera, Stitch Fix, Five Below and more

The company also announced mixed quarterly results and gave weak guidance for the upcoming quarter and the current fiscal year. Cloudera reported a loss of 13 cents per share, narrower than the expected loss of 23 cents, and revenue of $187.5 million, just short of estimates. Shares of Stitch Fix surged 30% during extended trading after the online personal styling company reported third-quarter results that beat on the top and bottom lines. Five Below reported earnings of 46 cents per share, bea


The company also announced mixed quarterly results and gave weak guidance for the upcoming quarter and the current fiscal year. Cloudera reported a loss of 13 cents per share, narrower than the expected loss of 23 cents, and revenue of $187.5 million, just short of estimates. Shares of Stitch Fix surged 30% during extended trading after the online personal styling company reported third-quarter results that beat on the top and bottom lines. Five Below reported earnings of 46 cents per share, bea
Stocks making the biggest moves after hours: Cloudera, Stitch Fix, Five Below and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: nadine el-bawab
Keywords: news, cnbc, companies, revenue, stocks, moves, stitch, cloudera, earnings, hours, fix, loss, million, making, share, reported, cents, company, biggest, expected, stock


Stocks making the biggest moves after hours: Cloudera, Stitch Fix, Five Below and more

Tom Reilly, chief executive officer of Cloudera Inc., stands during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York.

Check out the companies making headlines after the bell:

Cloudera stock plummeted more than 30% after the cloud software company announced CEO Tom Reilly is retiring and intends to leave his position on the board effective July 31. The company also announced mixed quarterly results and gave weak guidance for the upcoming quarter and the current fiscal year.

Cloudera reported a loss of 13 cents per share, narrower than the expected loss of 23 cents, and revenue of $187.5 million, just short of estimates.

Shares of Stitch Fix surged 30% during extended trading after the online personal styling company reported third-quarter results that beat on the top and bottom lines. The company reported earnings of 7 cents per share on revenue of $409 million, while Wall Street had expected a loss of 3 cents per share on revenue of $395 million, according to Refinitiv consensus estimates.

Shares of Five Below rose 1% after the retailer reported better-than-expected first-quarter earnings. Five Below reported earnings of 46 cents per share, beating the expected 35 cents per share, and revenue of $365 million, besting estimates by just $1 million. Comparable sales jumped 3.1%.

MongoDB stock dropped nearly 3% after the software company gave disappointing guidance for the current fiscal year. The company expects a loss per share of between $1.04 and $1.11. Analysts surveyed by Refinitiv had expected a loss of $1.00 per share. MongoDB reported a narrower-than-expected first-quarter loss of 22 cents per share and revenue of $89.4 million, $5.9 million higher than expected.

Shares of Elastic fell as much as 3%, before erasing those losses, after the search company announced that it will acquire Endgame, a security company, for $234 million in the form of Elastic stock, payment of outstanding debt and the assumption of Endgame’s outstanding equity awards.


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: nadine el-bawab
Keywords: news, cnbc, companies, revenue, stocks, moves, stitch, cloudera, earnings, hours, fix, loss, million, making, share, reported, cents, company, biggest, expected, stock


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Stitch Fix spikes after beating earnings and revenue expectations

Shares of Stitch Fix soared 25% in after-market trading Wednesday after the online personal styling company reported it beat earnings and sales expectations in the fiscal third quarter of 2019. It was helped by the healthy growth of its women’s business and the scaling up of its men’s business, it said. Here’s what the company reported compared with what Wall Street expected, based on a survey of analysts by Refinitiv:Earnings per share: 7 cents vs. a loss of 3 cents expectedRevenue: $408.9 mill


Shares of Stitch Fix soared 25% in after-market trading Wednesday after the online personal styling company reported it beat earnings and sales expectations in the fiscal third quarter of 2019. It was helped by the healthy growth of its women’s business and the scaling up of its men’s business, it said. Here’s what the company reported compared with what Wall Street expected, based on a survey of analysts by Refinitiv:Earnings per share: 7 cents vs. a loss of 3 cents expectedRevenue: $408.9 mill
Stitch Fix spikes after beating earnings and revenue expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: ashley turner
Keywords: news, cnbc, companies, revenue, quarter, stitch, earnings, fix, beating, loss, spikes, expectations, share, vs, cents, reported, million, company


Stitch Fix spikes after beating earnings and revenue expectations

Shares of Stitch Fix soared 25% in after-market trading Wednesday after the online personal styling company reported it beat earnings and sales expectations in the fiscal third quarter of 2019. It was helped by the healthy growth of its women’s business and the scaling up of its men’s business, it said.

Here’s what the company reported compared with what Wall Street expected, based on a survey of analysts by Refinitiv:

Earnings per share: 7 cents vs. a loss of 3 cents expected

Revenue: $408.9 million vs. $394.9 million expected

For the third quarter ended April 27, Stitch Fix said net income dropped to $7 million, or 7 cents a share, from $9.5 million, or 9 cents a share, a year ago. Analysts predicted results at a loss of 3 cents per share, based on a poll by Refinitiv.

Its active clients — people who received a box of clothing in the preceding 12-month period — came in at 3.1 million, an increase of 17% year over year.


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: ashley turner
Keywords: news, cnbc, companies, revenue, quarter, stitch, earnings, fix, beating, loss, spikes, expectations, share, vs, cents, reported, million, company


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