Breaking Stock Market and Financial News

JD.com stock rises after Stifel resumes coverage with a buy

MarketWatch Market Pulse - Wed, 12/13/2017 - 08:54

Shares of JD.com rose 1% in premarket trading Wednesday after analysts at Stifel resumed coverage of the stock with a buy rating. In a note entitled "one big market, two big winners," the analysts, led by Scott Devitt, argued that there's room for both JD.com and Alibaba Group Holding to capture growth in China. Devitt sees growth opportunities stemming from better payment and delivery options, expansion to more rural markets, and better integration between online and offline operations. "JD is the more structured player with controlled logistics and an initial first-party model that has grown into a first-party/third-party hybrid," he wrote. Devitt predicts that JD.com will grow its market share to 18% by the end of 2017, up from about 6% in 2013. "We expect JD to continue to gain share of the retail market it serves for years to come," he added. JD.com shares are up 52% so far this year, compared with a 99% gain for Alibaba's stock and a 19% rise for the S&P 500.

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Stemline Therapeutics shares jump 4% premarket after positive trial of leukemia treatment

MarketWatch Market Pulse - Wed, 12/13/2017 - 08:47

Shares of biotech Stemline Therapeutics Inc. jumped 4% premarket Wednesday, after the company said a trial of a treatment for acute myeloid leukemia met its main goal. Stemline said data from the trial of its SL-401 therapy in blastic plasmacytoid dendritic cell neoplasm (BPDCN), a highly aggressive, lethal malignancy of unmet medical need, with no approved therapies, showed it met its primary endpoint. The trial involved 45 patients and data was presented at this week's American Society of Hematology annual meeting. "The remarkable data presented at ASH from our pivotal trial with SL-401 in BPDCN sets the stage for our upcoming BLA submission and a successful 2018," Stemline Chief Executive Ivan Bergstein said in a statement. Shares have gained 43% in 2017, while the S&P 500 has gained 19%.

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Lumentum stock falls as Apple makes investment in rival Finisar

MarketWatch Market Pulse - Wed, 12/13/2017 - 08:34

Shares of Lumentum Holdings Inc. are down 8.7% in premarket trading Wednesday following news that Apple Inc. was investing $390 million in Finisar Corp. , one of Lumentum's competitors. Both companies make vertical-cavity surface-emitting lasers, or VCSELs, which help enable 3D-sensing capabilities and facial recognition. In a release, Apple said that its investment in Finisar would "enable Finisar to exponentially increase its R&D spending and high-volume production" of VCSELs. "In the fourth quarter of 2017, Apple will purchase 10 times more VCSEL wafers than were previously manufactured worldwide over a similar time period," the company added. As of Tuesday's close, Apple shares were up 48% so far in 2017, compared with a 34% gain for Lumentum and a 36% drop for Finisar. The S&P 500 Index has gained 19%.

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Honeywell sets guidance for 2018, tweaks Q4 EPS outlook to top end of range

MarketWatch Market Pulse - Wed, 12/13/2017 - 07:16

Aerospace and industrial company Honeywell Inc. set guidance for 2018 Wednesday, saying it expects it to be a transformative year as it completes the spinoff of its homes and global distribution and transportation systems businesses. The company is expecting EPS of $7.55 to $7.80, excluding separation costs, compared with a FactSet consensus of $7.79. "In 2018, we are targeting free cash flow growth of more than 20 percent and intend to continue our aggressive capital deployment strategy," Chief Executive Darius Adamczyk said in a statement. The company narrowed its fourth-quarter EPS guidance to $1.84, the upper end of its range, and said it expects sales growth of 9%, up from a prior range of 5% to 7%. Shares were slightly higher premarket, but have gained 33% in 2017, while the S&P 500 has gained 19%.

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Palestinian leader says Trump's Jerusalem 'crime' prevents U.S. peace role

Top Reuters News - Wed, 12/13/2017 - 07:12
ISTANBUL (Reuters) - Palestinian President Mahmoud Abbas told Muslim leaders on Wednesday that a U.S. decision to recognise Jerusalem as Israel's capital was a crime which showed that Washington should no longer play a role in Middle East peace talks.

Eli Lilly sets guidance for 2018, expects regulatory moves on pipeline drugs

MarketWatch Market Pulse - Wed, 12/13/2017 - 07:03

Drug company Eli Lilly and Co. on Wednesday set guidance for 2018, saying it expects EPS of $4.24 to $4.34, or adjusted EPS of $4.60 to $4.70. revenue is expected to range from $23.0 billion to $23.5 billion. The FactSet consensus is for EPS of $4.65 and revenue of $23.1 billion. "The company is expecting continued pipeline progress, including U.S. regulatory action for baricitinib for the treatment of rheumatoid arthritis, galcanezumab for the treatment of migraine and a new indication for Verzenio in breast cancer, as well as the launch of a new indication for Taltz in psoriatic arthritis," it said in a statement. The company is now expecting 2017 EPS of $1.56 to $1.66, or $4.15 to $4.25 on an adjusted basis. That compares with a FactSet consensus of $4.21. Shares were not yet active premarket, but have gained 18% in 2017, while the S&P 500 has gained 19%.

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Iran urges Muslim nations to defend Palestinians after Trump move

Top Reuters News - Wed, 12/13/2017 - 06:55
ISTANBUL (Reuters) - Iranian President Hassan Rouhani said on Wednesday all Muslim nations should work together to defend the rights of Palestinians following Donald Trump's decision last week to recognize Jerusalem as Israel's capital.

Trump to make final tax push as Republican negotiators near deal

Top Reuters News - Wed, 12/13/2017 - 06:17
WASHINGTON (Reuters) - U.S. President Donald Trump will make a final push on Wednesday to shepherd a Republican tax overhaul over the finish line, hosting congressional negotiators for lunch before delivering a speech in which he will make his closing arguments for the legislation.

Tech sector loses champion in death of San Francisco mayor

Top Reuters News - Wed, 12/13/2017 - 06:07
SAN FRANCISCO (Reuters) - San Francisco technology companies including Twitter, Salesforce.com, Uber and Airbnb lost an important ally on Tuesday with the sudden death of Mayor Ed Lee.

Exclusive: After Grenfell fire, same builders rehired to replace dangerous cladding, Reuters finds

Top Reuters News - Wed, 12/13/2017 - 05:26
LONDON (Reuters) - Some building companies that installed dangerous cladding on social housing blocks across Britain are now winning new contracts following the Grenfell Tower blaze to remove their original work and install panels that can pass safety tests, a Reuters review shows.

U.S. prepares to open doors on billion-dollar London embassy

Top Reuters News - Wed, 12/13/2017 - 03:34
LONDON (Reuters) - The United States' diplomatic team in London, custodians of one of the most significant bilateral relationships of the last 100 years, will next month move into a new home: a billion-dollar, 12-storey glass cube overlooking the River Thames.

Italy to hold general election on March 4: reports

MarketWatch Market Pulse - Wed, 12/13/2017 - 03:17

Italy's government plans to hold a much-anticipated election on March 4, according to multiple media reports on Wednesday. Italians have to go to the polls next year, as the general election has to be completed by late May. March 4 had previously been mentioned in news reports as a possible date.

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Tillerson says U.S. ready to talk to North Korea; Japan wants pressure

Top Reuters News - Tue, 12/12/2017 - 23:40
WASHINGTON/SEOUL (Reuters) - U.S. Secretary of State Rex Tillerson offered to begin direct talks with North Korea without pre-conditions, backing away from a key U.S. demand that Pyongyang must first accept that giving up its nuclear arsenal would be part of any negotiations.

Democrat Jones wins U.S. Senate seat in Alabama in blow to Trump

Top Reuters News - Tue, 12/12/2017 - 22:47
BIRMINGHAM, Ala. (Reuters) - Democrat Doug Jones won a bitter fight for a U.S. Senate seat in deeply conservative Alabama on Tuesday, U.S. media projected, dealing a political blow to President Donald Trump in a race marked by accusations of sexual misconduct against Republican candidate Roy Moore.

Tillerson says U.S. ready to talk to North Korea; Kim promises more weapons

Top Reuters News - Tue, 12/12/2017 - 22:09
WASHINGTON/SEOUL (Reuters) - U.S. Secretary of State Rex Tillerson offered to begin direct talks with North Korea without pre-conditions, backing away from a key U.S. demand that Pyongyang must first accept that giving up its nuclear arsenal would be part of any negotiations.

Did Sanofi, WHO ignore warning signals on dengue vaccine?

Top Reuters News - Tue, 12/12/2017 - 21:28
CHICAGO/LONDON (Reuters) - When French drugmaker Sanofi published the results of clinical trials of children given its dengue vaccine two years ago, the overall findings were that it protected against the world's biggest and fastest growing mosquito-borne disease.

Crucial details of Republican tax plan in flux as deal deadline looms

Top Reuters News - Tue, 12/12/2017 - 19:54
WASHINGTON (Reuters) - Crucial details of the Republican tax plan, including the proposed corporate rate, were in flux late on Tuesday as negotiators from the U.S. Congress rushed to finalize the plan ahead of a self-imposed Wednesday deadline.

Tillerson, in new overture to North Korea, says ready to talk without pre-conditions

Top Reuters News - Tue, 12/12/2017 - 19:45
WASHINGTON (Reuters) - U.S. Secretary of State Rex Tillerson offered on Tuesday to begin direct talks with North Korea without pre-conditions, backing away from U.S. demands that Pyongyang must first accept that any negotiations would have to be about giving up its nuclear arsenal.

Firefighters wrestle to control massive California wildfire

Top Reuters News - Tue, 12/12/2017 - 19:44
CARPINTERIA, Calif. (Reuters) - An out-of-control California wildfire that has already destroyed nearly 700 homes in its path of destruction crept closer to the upscale hillside community of Montecito on Tuesday despite calmer winds that slowed its progress.

Donald Trump Jr. wants 'leak' probe, as Congress' Russia probes press on

Top Reuters News - Tue, 12/12/2017 - 19:26
WASHINGTON (Reuters) - President Donald Trump's eldest son asked a House of Representatives committee on Tuesday to investigate possible leaks of information about his Dec. 6 interview with lawmakers, as congressional probes of Russia and the 2016 election picked up steam ahead of the New Year.

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