Deutsche Bank chairman urged to step down by US private equity firm Cerberus

U.S. private equity firm Cerberus is hoping to replace Deutsche Bank Chairman Paul Achleitner, two sources confirmed to CNBC on Tuesday. The private equity firm has a 3% stake in Deutsche Bank. However, two people familiar with the matter told CNBC on the condition of anonymity that Cerberus was indeed pushing for the 63-year-old chairman to be replaced. In the past, Deutsche Bank’s other big shareholders have raised concerns about the bank’s failing strategy and have called for a reshuffle of t


U.S. private equity firm Cerberus is hoping to replace Deutsche Bank Chairman Paul Achleitner, two sources confirmed to CNBC on Tuesday.
The private equity firm has a 3% stake in Deutsche Bank.
However, two people familiar with the matter told CNBC on the condition of anonymity that Cerberus was indeed pushing for the 63-year-old chairman to be replaced.
In the past, Deutsche Bank’s other big shareholders have raised concerns about the bank’s failing strategy and have called for a reshuffle of t
Deutsche Bank chairman urged to step down by US private equity firm Cerberus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: spriha srivastava
Keywords: news, cnbc, companies, bank, equity, private, reported, banks, sources, step, cerberus, told, deutsche, urged, shareholders, chairman, term, firm


Deutsche Bank chairman urged to step down by US private equity firm Cerberus

U.S. private equity firm Cerberus is hoping to replace Deutsche Bank Chairman Paul Achleitner, two sources confirmed to CNBC on Tuesday.

Cerberus has lost faith in Achleitner and its desire for change has increased since merger talks with Commerzbank failed earlier this year, according to the sources. The private equity firm has a 3% stake in Deutsche Bank.

The German bank has declined to comment on the story which first reported by the Financial Times. However, two people familiar with the matter told CNBC on the condition of anonymity that Cerberus was indeed pushing for the 63-year-old chairman to be replaced.

Germany’s flagship lender has been in the news for all the wrong reasons — from settlements with the U.S. Department of Justice, to management reshuffles, weak earnings, massive fines, constant restructuring, merger speculation and steep stock price falls.

In the past, Deutsche Bank’s other big shareholders have raised concerns about the bank’s failing strategy and have called for a reshuffle of the board. In May, Deutsche Bank’s proxy advisor Institutional Shareholder Services (ISS) called for shareholders to vote against the board, citing a series of scandals resulting from the bank’s failure to uphold anti-money laundering controls and causing reputational and monetary damage.

The FT has also reported that the lender’s other large shareholders – members of the Qatari royal family, funds managed by former J.P. Morgan Chase executive Doug Braunstein and asset manager BlackRock – have concerns about Achleitner’s performance.

Achleitner took over as chairman of Deutsche Bank in 2012 and its share price is down more than 73% since then. However, the sources told CNBC that he is keen to stay on until the end of his term in order to oversee Deutsche Bank’s 150th anniversary next year. Achleitner’s term is due to end in 2022.


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: spriha srivastava
Keywords: news, cnbc, companies, bank, equity, private, reported, banks, sources, step, cerberus, told, deutsche, urged, shareholders, chairman, term, firm


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CBS and Viacom merger is set to close within a month

CBS and Viacom merger is set to close within a monthCBS and Viacom were both down after CBS reported earnings. CNBC’s David Faber reports on the latest details regarding the companies’ merger.


CBS and Viacom merger is set to close within a monthCBS and Viacom were both down after CBS reported earnings.
CNBC’s David Faber reports on the latest details regarding the companies’ merger.
CBS and Viacom merger is set to close within a month Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12
Keywords: news, cnbc, companies, month, latest, merger, cbs, viacom, reports, reported, regarding, set, faber, close, monthcbs


CBS and Viacom merger is set to close within a month

CBS and Viacom merger is set to close within a month

CBS and Viacom were both down after CBS reported earnings. CNBC’s David Faber reports on the latest details regarding the companies’ merger.


Company: cnbc, Activity: cnbc, Date: 2019-11-12
Keywords: news, cnbc, companies, month, latest, merger, cbs, viacom, reports, reported, regarding, set, faber, close, monthcbs


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T-Mobile CEO John Legere is a candidate to become new CEO of WeWork

WeWork has spoken to T-Mobile CEO John Legere about possibly taking over the embattled coworking company, sources told CNBC’s David Faber on Monday. WeWork is conducting a search for a CEO and Legere is among several candidates being considered, Faber reported. A source close to SoftBank confirmed Legere is one of many candidates being considered for the role, but he’s not the leading candidate. Representatives from T-Mobile and WeWork were not immediately available for comment. SoftBank represe


WeWork has spoken to T-Mobile CEO John Legere about possibly taking over the embattled coworking company, sources told CNBC’s David Faber on Monday.
WeWork is conducting a search for a CEO and Legere is among several candidates being considered, Faber reported.
A source close to SoftBank confirmed Legere is one of many candidates being considered for the role, but he’s not the leading candidate.
Representatives from T-Mobile and WeWork were not immediately available for comment.
SoftBank represe
T-Mobile CEO John Legere is a candidate to become new CEO of WeWork Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: annie palmer
Keywords: news, cnbc, companies, tmobile, wework, considered, ceo, search, faber, comment, reported, softbank, sources, legere, john, candidate


T-Mobile CEO John Legere is a candidate to become new CEO of WeWork

WeWork has spoken to T-Mobile CEO John Legere about possibly taking over the embattled coworking company, sources told CNBC’s David Faber on Monday.

The Wall Street Journal first reported that the talks had taken place.

Shares of T-Mobile slid 3% on the news.

WeWork is conducting a search for a CEO and Legere is among several candidates being considered, Faber reported. The search is ongoing and no decision has been made, sources said. A source close to SoftBank confirmed Legere is one of many candidates being considered for the role, but he’s not the leading candidate.

Representatives from T-Mobile and WeWork were not immediately available for comment. SoftBank representatives declined to comment.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: annie palmer
Keywords: news, cnbc, companies, tmobile, wework, considered, ceo, search, faber, comment, reported, softbank, sources, legere, john, candidate


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China’s exports and imports fell less than expected in October

China’s exports and imports declined in October, Reuters reported citing data from the country’s customs released on Friday. In dollar terms, exports fell 0.9% while imports fell 6.4% from a year ago in October, but beat analysts’ forecasts. Economists polled by Reuters had expected October exports to fall 3.9% and imports to fall 8.9% from a year earlier. In September, China’s exports fell 3.2% from a year ago, while imports dropped 8.5% during the same period. On Thursday, China’s Commerce Min


China’s exports and imports declined in October, Reuters reported citing data from the country’s customs released on Friday.
In dollar terms, exports fell 0.9% while imports fell 6.4% from a year ago in October, but beat analysts’ forecasts.
Economists polled by Reuters had expected October exports to fall 3.9% and imports to fall 8.9% from a year earlier.
In September, China’s exports fell 3.2% from a year ago, while imports dropped 8.5% during the same period.
On Thursday, China’s Commerce Min
China’s exports and imports fell less than expected in October Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: huileng tan
Keywords: news, cnbc, companies, fell, reported, tariffs, expected, beijing, exports, washington, imports, sign, chinas, trade, deal


China's exports and imports fell less than expected in October

Shipping containers sit stacked at Qingdao Port after snow on February 14, 2019 in Qingdao, Shandong Province of China.

China’s exports and imports declined in October, Reuters reported citing data from the country’s customs released on Friday.

In dollar terms, exports fell 0.9% while imports fell 6.4% from a year ago in October, but beat analysts’ forecasts.

Trade balance for October was $42.81 billion, compared to analyst forecasts of $40.83 billion.

Economists polled by Reuters had expected October exports to fall 3.9% and imports to fall 8.9% from a year earlier.

In September, China’s exports fell 3.2% from a year ago, while imports dropped 8.5% during the same period.

The Chinese economy — the second largest in the world — is growing at a slower pace amid the protracted trade battle between Beijing and Washington.

Despite the better-than-expected trade data for October, the outlook in the coming months is not positive, said Martin Rasmussen, China economist at Capital Economics.

“Looking ahead, we think that subdued global growth will continue to weigh on exports,” wrote Rasmussen in a note on Friday.

“This headwind is unlikely to be fully offset by the partial tariff rollbacks that are being proposed as part of the ‘Phase One’ trade deal, especially given that the recent appreciation of the renminbi in anticipation of a deal means that the exchange rate will act as less of a prop to outbound shipments,” he added.

On Thursday, China’s Commerce Ministry said that Beijing had agreed with Washington to lift existing trade tariffs between the two nations in phases.

Market participants had expected the two economic giants to sign a deal later this month, after both Washington and Beijing spoke of progress in talks late last week.

However, Reuters reported on Wednesday that a meeting between President Donald Trump and Chinese President Xi Jinping could be postponed until December — delaying a chance for the two leaders to sign an interim trade deal.

The world’s two largest economies have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

— CNBC’s Yen Nee Lee and Sam Meredith contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: huileng tan
Keywords: news, cnbc, companies, fell, reported, tariffs, expected, beijing, exports, washington, imports, sign, chinas, trade, deal


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European markets move lower amid trade worries; Richemont shares fall 5%

European markets were slightly lower Friday morning, as investors reacted to conflicting signals about the ongoing Sino-U.S. trade war. The pan-European Stoxx 600 was down around 0.3% during early morning deals, with most sectors and major bourses in negative territory. Europe’s basic resources — with their heavy exposure to China — led the losses shortly after the opening bell, down more than 1.2%. It prompted a surge of optimism in financial markets on Thursday, but worries that the pact could


European markets were slightly lower Friday morning, as investors reacted to conflicting signals about the ongoing Sino-U.S. trade war.
The pan-European Stoxx 600 was down around 0.3% during early morning deals, with most sectors and major bourses in negative territory.
Europe’s basic resources — with their heavy exposure to China — led the losses shortly after the opening bell, down more than 1.2%.
It prompted a surge of optimism in financial markets on Thursday, but worries that the pact could
European markets move lower amid trade worries; Richemont shares fall 5% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: chloe taylor sam meredith, chloe taylor, sam meredith
Keywords: news, cnbc, companies, markets, lower, fall, amid, reported, political, losses, fell, richemont, worries, insurance, morning, shortly, european, shares, trade


European markets move lower amid trade worries; Richemont shares fall 5%

European markets were slightly lower Friday morning, as investors reacted to conflicting signals about the ongoing Sino-U.S. trade war.

The pan-European Stoxx 600 was down around 0.3% during early morning deals, with most sectors and major bourses in negative territory.

Europe’s basic resources — with their heavy exposure to China — led the losses shortly after the opening bell, down more than 1.2%. Tenaris, Anglo American and Evraz were all trading over 2% lower.

China’s Commerce Ministry said Thursday that the world’s two largest economies had agreed to lift existing tariffs in phases. Shortly thereafter, a White House spokesperson told Fox News that she was “very optimistic” that Washington and Beijing would reach a trade deal soon.

It prompted a surge of optimism in financial markets on Thursday, but worries that the pact could fall apart has since dampened investor sentiment.

Meanwhile, data from Chinese customs on Friday showed the country’s October exports fell 0.9% year-on-year, while imports fell 6.4%, according to Reuters. The figures reportedly beat analysts’ expectations.

Looking at individual stocks, Richemont tumbled toward the bottom of the European benchmark. The Swiss watchmaker reported weaker-than-expected earnings for the first half of the year, as political protests in Hong Kong weighed on sales growth. Shares of the firm slipped more than 5% on the news.

Beazley surged to the top of the index during early morning deals. The company, which provides casualty and property, cyber and political risk insurance reported its main measure of insurance profitability was set to register losses in 2019. Nonetheless, shares rose almost 4%.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: chloe taylor sam meredith, chloe taylor, sam meredith
Keywords: news, cnbc, companies, markets, lower, fall, amid, reported, political, losses, fell, richemont, worries, insurance, morning, shortly, european, shares, trade


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Stocks making the biggest moves midday: Disney, Gap, Take-Two & more

Monster Beverage — Shares of the energy drink maker gained more than 3% after the company beat earnings and revenue estimates for the third quarter. Sales rose 11%, and the company also announced a $500 million share repurchase program. Take-Two Interactive — Take-Two rose 2.3% after reporting a better-than-expected $2.02 per share in profit for its fiscal second quarter. SurveyMonkey — Shares of online cloud-based survey company tanked 9% after the company reported disappointing third-quarter e


Monster Beverage — Shares of the energy drink maker gained more than 3% after the company beat earnings and revenue estimates for the third quarter.
Sales rose 11%, and the company also announced a $500 million share repurchase program.
Take-Two Interactive — Take-Two rose 2.3% after reporting a better-than-expected $2.02 per share in profit for its fiscal second quarter.
SurveyMonkey — Shares of online cloud-based survey company tanked 9% after the company reported disappointing third-quarter e
Stocks making the biggest moves midday: Disney, Gap, Take-Two & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: thomas franck
Keywords: news, cnbc, companies, biggest, making, company, share, revenue, stocks, gap, estimates, quarter, earnings, million, shares, cents, midday, reported, disney, taketwo, moves


Stocks making the biggest moves midday: Disney, Gap, Take-Two & more

TORONTO, ONTARIO, CANADA – 2015/05/13: Red Disney signage inside a shopping mall, placed near the ceiling, close to light tracks. (Photo by Roberto Machado Noa/LightRocket via Getty Images)

Check out the companies making headlines in midday trading:

Walt Disney — Disney shares rallied 3.7% in midday trading after it reported quarterly earnings of $1.07 per share, 12 cents a share better than what Wall Street analysts had expected. Revenue also beat forecasts, boosted by a 52% increase in studio entertainment revenue amid a strong movie box office performance. Its long-awaited streaming service, Disney+, is set to launch on November 12.

Monster Beverage — Shares of the energy drink maker gained more than 3% after the company beat earnings and revenue estimates for the third quarter. Sales rose 11%, and the company also announced a $500 million share repurchase program.

Gap — The apparel retailer’s stock fell 7% after the company announced that CEO Art Peck would be stepping down, effective immediately. The company also warned that its results for the current quarter would be weaker-than-expected. The slide in the stock price wiped $466 million from the company’s value.

Zillow — Zillow’s stock popped more than 12% after it reported a loss 12 cents per share for the third quarter, smaller than the 21 cents a share loss for which Wall Street was preparing. The real estate website operator’s revenue came in above estimates, and it gave an upbeat forecast as well.

Take-Two Interactive — Take-Two rose 2.3% after reporting a better-than-expected $2.02 per share in profit for its fiscal second quarter. The quarter’s performance was buoyed by strong demand for its NBA, Grand Theft Auto, and Red Dead Redemption games.

Teradata — Shares of the data analytics software company plunged more than 16% on weaker-than-expected quarterly results. Teradata posted a profit of 32 cents per share on $459 million in revenue. Analysts polled by Refinitiv expected earnings per share of 40 cents on $486 million in revenue. The company also issued soft earnings guidance for the current quarter and announced CEO Oliver Ratzesberger resigned, effective immediately.

Dropbox — Dropbox slid nearly 6% despite better-than-expected earnings. The cloud storage company earned 13 cents per share in the third quarter, 2 cents ahead of estimates, according to Refinitiv. Its revenue also topped estimates. The company said it is benefiting from its new desktop app as well as good results from its Dropbox Spaces collaboration software.

SurveyMonkey — Shares of online cloud-based survey company tanked 9% after the company reported disappointing third-quarter earnings. The company reported a loss of 12 cents per share, while analysts were expecting a loss of 5 cents per share, according to Refinitiv. Revenue came in at $79.3 million, which beat estimates of $77.95 million.

– CNBC’s Yun Li, Pippa Stevens, Fred Imbert and Maggie Fitzgerald contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: thomas franck
Keywords: news, cnbc, companies, biggest, making, company, share, revenue, stocks, gap, estimates, quarter, earnings, million, shares, cents, midday, reported, disney, taketwo, moves


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Yelp shares pop 15% despite lackluster earnings

Yelp shares rose 15% Friday morning despite the company reporting an earnings miss Thursday. While the crowdsourced reviews company reported third-quarter earnings on Thursday that missed expectations on the bottom line and barely topped revenue expectations, shares rose more than 15% Friday. Yelp reported earnings per share of $0.14, falling short of $0.19 expected, and the company posted revenues of $262.47 million versus $262.25 million expected. Some of the investor excitement may be because


Yelp shares rose 15% Friday morning despite the company reporting an earnings miss Thursday.
While the crowdsourced reviews company reported third-quarter earnings on Thursday that missed expectations on the bottom line and barely topped revenue expectations, shares rose more than 15% Friday.
Yelp reported earnings per share of $0.14, falling short of $0.19 expected, and the company posted revenues of $262.47 million versus $262.25 million expected.
Some of the investor excitement may be because
Yelp shares pop 15% despite lackluster earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: william feuer
Keywords: news, cnbc, companies, google, officer, company, revenue, pop, yelp, shares, earnings, stoppelman, search, reported, lackluster, despite


Yelp shares pop 15% despite lackluster earnings

Jeremy Stoppelman, chief executive officer of Yelp Inc., center, rings the opening bell with Chief Operating Officer Geoff Donaker, second left, and Chief Financial Officer Rob Krolik, right, at the New York Stock Exchange (NYSE) in New York, U.S., on Friday, March 2, 2012. Yelp Inc., the site that lets users review everything from diners to dentists, surged as much as 73 percent in its first day of trading after selling shares for more than planned in an initial public offering.

Yelp shares rose 15% Friday morning despite the company reporting an earnings miss Thursday.

While the crowdsourced reviews company reported third-quarter earnings on Thursday that missed expectations on the bottom line and barely topped revenue expectations, shares rose more than 15% Friday. Yelp reported earnings per share of $0.14, falling short of $0.19 expected, and the company posted revenues of $262.47 million versus $262.25 million expected.

Despite a no-frills third quarter, investors were heartened by Yelp’s fourth-quarter guidance.

“Yelp reported mostly inline 3Q19 results, and guided to 4Q19 revenue and adjusted EBITDA growth below Street expectations, but still better than many investors feared,” Wedbush analysts wrote in a note Friday. “While slightly below consensus, 4Q guidance still implies revenue acceleration into the low-teens and continued margin expansion.”

Yelp posted fourth-quarter guidance expecting 11% to 13% revenue growth and an adjusted EBITDA margin increase of 2% to 3%. The company underscored the changing industry, rising sales and marketing costs, difficulties maintaining high-quality user-generated content and retention of advertisers as ongoing risks.

Some of the investor excitement may be because third-quarter earnings imply that Yelp has yet to be significantly hurt by increased competition with Google. However, some investors are more bearish on the stock, unsure if Yelp will remain competitive moving forward.

“Yelp’s 3Q results seemed unaffected from increased search changes and competition, and the company attributes this to success with the app. Nevertheless, threats from search, Google Maps, and vertical specific players continue to loom,” a note from Raymond James said Friday. “Given the degree of acceleration implied in 4Q guidance, small changes in the search funnel and competitive landscape could carry a disproportionate impact.”

Yelp co-founder and CEO Jeremy Stoppelman responded to investor concerns about advertising competition with Google by emphasizing increased regulatory scrutiny against Google and the growth of the Yelp app.

“Obviously there’s always going to be some volatility on the [search engine optimization] side as Google tweaks algorithms, but we feel great about all the engagement we see on our Yelp app and continue to see overall engagement at a healthy rate,” Stoppelman said during the company’s earnings call Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: william feuer
Keywords: news, cnbc, companies, google, officer, company, revenue, pop, yelp, shares, earnings, stoppelman, search, reported, lackluster, despite


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Expedia, TripAdvisor fall more than 20% after blaming poor earnings on decrease in Google search results

Shares of Expedia and TripAdvisor both reached new year-to-date lows during midday trading on Thursday, tumbling as much as 25%. The stock plunge comes after both the travel service stocks reported third-quarter earnings misses after the bell Wednesday. Both companies pointed to weakened visibility in Google search results as a long-term revenue headwind. Expedia reported earnings of $3.38 per share excluding certain items on revenue of $3.56 billion, falling short of the $3.80 in earnings per s


Shares of Expedia and TripAdvisor both reached new year-to-date lows during midday trading on Thursday, tumbling as much as 25%.
The stock plunge comes after both the travel service stocks reported third-quarter earnings misses after the bell Wednesday.
Both companies pointed to weakened visibility in Google search results as a long-term revenue headwind.
Expedia reported earnings of $3.38 per share excluding certain items on revenue of $3.56 billion, falling short of the $3.80 in earnings per s
Expedia, TripAdvisor fall more than 20% after blaming poor earnings on decrease in Google search results Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: ganesh setty
Keywords: news, cnbc, companies, results, google, decrease, revenue, poor, fall, visibility, search, paid, earnings, expedia, share, tripadvisor, reported, blaming, billion


Expedia, TripAdvisor fall more than 20% after blaming poor earnings on decrease in Google search results

A mascot of TripAdvisor is seen at its display at a trade fair.

Shares of Expedia and TripAdvisor both reached new year-to-date lows during midday trading on Thursday, tumbling as much as 25%.

The stock plunge comes after both the travel service stocks reported third-quarter earnings misses after the bell Wednesday. Both companies pointed to weakened visibility in Google search results as a long-term revenue headwind.

Expedia reported earnings of $3.38 per share excluding certain items on revenue of $3.56 billion, falling short of the $3.80 in earnings per share and revenue of $3.58 billion that analysts expected, according to Refinitiv. Expedia’s gross bookings also came in just shy of estimates, coming at $26.93 billion versus the $27.06 billion expected.

Changes in Google’s search algorithm has lessened visibility on search results, resulting in a heavier reliance on paid advertising, CFO Alan Pickerill explained during the company’s earnings call.

Challenges can be felt “across multiple product categories and multiple regions” and that moving to paid links presents “a sizable headwind” for the company, he said.

Weaker revenue growth in the company’s home rental platform Vrbo and a revenue decline in Trivago also compounded Expedia’s earnings miss, according to a Needham analyst note. Vrbo’s revenue grew by 14%, compared to its 17% growth last quarter.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: ganesh setty
Keywords: news, cnbc, companies, results, google, decrease, revenue, poor, fall, visibility, search, paid, earnings, expedia, share, tripadvisor, reported, blaming, billion


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Stocks making the biggest moves midday: Party City, Roku, Expedia, TripAdvisor & more

Roku reported a third-quarter loss of 22 cents per share, worse than the 18 cents per share loss expected. Party City — Shares of Party City dived a whopping 59% after the party supplies retailer reported an unexpected quarterly loss. Expedia — Shares of the online travel company cratered nearly 25% after reporting dismal third quarter earnings. Expedia reported earnings per share of $3.38 on revenue of $3.56 billion. The company reported earnings of 58 cents, below the estimated 69 cents, accor


Roku reported a third-quarter loss of 22 cents per share, worse than the 18 cents per share loss expected.
Party City — Shares of Party City dived a whopping 59% after the party supplies retailer reported an unexpected quarterly loss.
Expedia — Shares of the online travel company cratered nearly 25% after reporting dismal third quarter earnings.
Expedia reported earnings per share of $3.38 on revenue of $3.56 billion.
The company reported earnings of 58 cents, below the estimated 69 cents, accor
Stocks making the biggest moves midday: Party City, Roku, Expedia, TripAdvisor & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: yun li
Keywords: news, cnbc, companies, midday, revenue, shares, quarter, biggest, moves, city, earnings, expedia, stocks, tripadvisor, party, making, share, reported, company, according, analysts, cents, roku


Stocks making the biggest moves midday: Party City, Roku, Expedia, TripAdvisor & more

Check out the companies making headlines in midday trading:

Roku — Stock of the streaming device maker sank 10% in midday trading after it broke its streak of topping profit expectations. Roku reported a third-quarter loss of 22 cents per share, worse than the 18 cents per share loss expected. Roku had beaten analysts’ expectations for quarterly earnings in seven of its last eight reports before the third-quarter report.

Party City — Shares of Party City dived a whopping 59% after the party supplies retailer reported an unexpected quarterly loss. The company lost 28 cents per share for its latest quarter, compared to forecasts of a breakeven performance, according to Refinitiv. Revenue was also below forecasts. The company called its quarter “disappointing” and said many tailwinds that it had expected failed to materialize.

Expedia — Shares of the online travel company cratered nearly 25% after reporting dismal third quarter earnings. Expedia reported earnings per share of $3.38 on revenue of $3.56 billion. Wall Street estimated earnings of $3.80 per share on revenue of $3.58 billion, according to Refinitiv. Gross bookings also missed estimates coming in at $26.93 billion, shy of the forecast $27.06 billion.

TripAdvisor — Shares of travel company Trip Advisor plummeted nearly 20% after missing on the top and bottom lines of its third quarter earnings. The company reported earnings of 58 cents, below the estimated 69 cents, according to Refinitiv. Revenue came in at $428 million, lower than the $459 million expected on the Street.

Fossil Group — Shares of Fossil tanked more than 20% after the watchmaker reported a big earnings miss in the third quarter. Fossil reported a loss of 11 cents per share in the last quarter, missing the analysts’ estimate of 16 cents profit, according to FactSet. The company’s revenue also fell short of expectations.

Qualcomm — Qualcomm shares jumped more than 8% after the semiconductor posted quarterly results that beat analyst expectations. The company reported a profit of 78 cents per share on $4.8 billion in revenue. Analysts polled by Refinitiv expected earnings per share of 71 cents on revenue of $4.7 billion. Qualcomm’s results got a boost from its licensing business.

Ralph Lauren — Shares of the fashion company rallied 11.2% on the back of fiscal second-quarter earnings that beat expectations. Ralph Lauren posted a profit of $2.55 per share on revenue of $1.706 billion. Wall Street analysts expected earnings of $2.39 per share on revenue of $1.691 billion, according to Refinitiv. The company said demand for its Polo shirts and jackets in China and Europe was strong.

Square — Shares of Square rose 6.5% after the financial technology company delivered strong top and bottom line third-quarter results, beating Wall Street’s expectations according to FactSet’s survey of analysts. Square’s forecast for 2020 sees revenue growing 33%, a fact analysts noted as a key catalyst as Square also plans to accelerate its marketing spending next year.

Livongo Health — Shares of Livongo Health surged nearly 19% after the health-tech start-up reported strong earnings. Livongo posted earnings loss of 5 cents in the third quarter, a smaller loss than analysts were expecting. Its sales also beat estimates, according to FactSet.

Teva Pharmaceuticals — The company’s stock jumped 12.5% as, while its third-quarter earnings came in just below analysts’ expectation, Teva raised its fiscal 2019 earnings forecast. Teva also announced that its TRUXIMA injection, a treatment for adults with non-Hodgkin’s Lymphoma and leukemia, is now available in the U.S for patients.

Cardinal Health — Shares of Cardinal Health rose 5% after the health care company’s earnings beat expectations. Cardinal reported adjusted quarterly profit of $1.27 per share, compared to a consensus estimate of $1.09, according to Refinitiv. Its revenue also beat forecasts.

Kontoor Brands — Shares of Kontoor Brands dropped more than 8% after the maker of Lee and Wrangler jeans reported a revenue miss. The company earned an adjusted 95 cents per share for its latest quarter, 6 cents better than estimates, but revenue fell below analyst forecasts, according to Refinitiv.

Nielsen Holdings — Shares of Nielsen fell more than 5% after the market research firm announced plans to separate into two public companies, through a spin-off of its Global Connect Business.

— CNBC’s Thomas Franck, Fred Imbert, Michael Sheetz and Maggie Fitzgerald contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: yun li
Keywords: news, cnbc, companies, midday, revenue, shares, quarter, biggest, moves, city, earnings, expedia, stocks, tripadvisor, party, making, share, reported, company, according, analysts, cents, roku


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TripAdvisor is getting crushed, but trader sees sliver of hope

TripAdvisor just reported earnings, and investors weren’t impressed. The stock tanked more than 20% on Thursday after the company reported a miss on quarterly earnings and revenue on Wednesday evening. But, “if TripAdvisor can show construction against the November 2017 low there is reason to believe that technical support could be created.” Strategic Wealth Partners president Mark Tepper, who owns Expedia, is cautious until the smoke clears. Disclosure: Strategic Wealth Partners owns Expedia.


TripAdvisor just reported earnings, and investors weren’t impressed.
The stock tanked more than 20% on Thursday after the company reported a miss on quarterly earnings and revenue on Wednesday evening.
But, “if TripAdvisor can show construction against the November 2017 low there is reason to believe that technical support could be created.”
Strategic Wealth Partners president Mark Tepper, who owns Expedia, is cautious until the smoke clears.
Disclosure: Strategic Wealth Partners owns Expedia.
TripAdvisor is getting crushed, but trader sees sliver of hope Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: keris lahiff
Keywords: news, cnbc, companies, wealth, president, reported, stock, quarterly, tripadvisor, trader, hope, strategic, partners, sliver, getting, owns, sees, low, crushed


TripAdvisor is getting crushed, but trader sees sliver of hope

TripAdvisor just reported earnings, and investors weren’t impressed.

The stock tanked more than 20% on Thursday after the company reported a miss on quarterly earnings and revenue on Wednesday evening.

Blue Line Capital president Bill Baruch says the move is a shock, though he does see hope that the stock can turn it around.

“This is a sharp move lower and cause for concern,” Baruch told CNBC’s “Trading Nation” in an email Thursday. But, “if TripAdvisor can show construction against the November 2017 low there is reason to believe that technical support could be created.”

TripAdvisor on Thursday broke briefly below its 2017 low of $29.50. That low was its worst level since 2012.

“Longer-term positive fundamentals surrounding the impact of improvising with their half a billion unique user base makes this stock … ‘worth taking a shot,'” he added.

Expedia, which also reported on Wednesday, was also plummeting on Thursday, losing close to 25%. Strategic Wealth Partners president Mark Tepper, who owns Expedia, is cautious until the smoke clears.

“We are going to watch how the stock trades over the next few days,” he said in an email to CNBC on Thursday. “The down ~25% move looks overdone [and] shares trade cheap for a long-term share gainer in the travel industry. The quarterly results definitely leave us less constructive on the name and macro conditions/commentary did not help either.”

Disclosure: Strategic Wealth Partners owns Expedia.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: keris lahiff
Keywords: news, cnbc, companies, wealth, president, reported, stock, quarterly, tripadvisor, trader, hope, strategic, partners, sliver, getting, owns, sees, low, crushed


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