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Sturm Ruger quarterly sales miss expectationsExternal Link

Shares of Sturm Ruger & Co. fell as much as 5% late Wednesday after the gun maker missed fourth-quarter sales expectations. The company posted diluted earnings of 59 cents a share in the quarter, compared with $1.10 a share a year ago, and sales reached $118.2 million, compared with sales of $161.8 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 77 cents on sales of $134 million. Shares ended the regular trading session down 2.2%. In the same statement, Sturm Ruger said its board of directors declared a dividend of 23 cents a share for the fourth quarter, payable on March 30 to shareholders of record March 15.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 21 Feb 2018 22:58:58 GMT
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Stock-market rally vaporizes as 10-year yield climbs to 2.95%, dollar strengthensExternal Link

A rally for the Dow Jones Industrial Average withered on Wednesday as Wall Street struggled to interpret minutes from the Federal Reserve's January meeting. The Dow closed down 166.97 points, or 0.7%, at 24,797.78, eroding what had been a more than 300-point rally in blue chips in the immediate wake of the release of minutes at 2 p.m. Eastern Time. However, those gains gave way to losses with about an hour left in trade on the day. The S&P 500 index sank by 14.93 points, or 0.6%, to 2,701.33, but had been up by 1.2% or 32 points earlier in the day, while the Nasdaq Composite Index shed 0.2% to end at 7,218.23. A deflation of the brisker buying sentiment in stocks was attributed partly to a climb in yields for the 10-year Treasury note to a session high, and a four-year peak, at 2.95%, follows meeting minutes from the late-January gathering of the Federal Open Market Committee, which reinforced expectations that a rate increase next month is likely. A popular dollar gauge, as measured by the ICE U.S. Dollar Index , also picked up steam up 0.4% at 90.12. Minutes from the Jan. 30-31 FOMC meeting showed that officials saw a stronger economy than at the end of 2017. The strengthening "increased the likelihood that a gradual upward trajectory of the federal funds rate would be appropriate." To convey this message, officials altered their statement to point to "further gradual increases," according to the minutes. However, the Fed's minutes don't incorporate recent signs of rapidly rising inflation, including the jobs report and a recent reading of consumer prices, which both showed inflation is running hot.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 21 Feb 2018 22:22:05 GMT
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SailPoint shares rally as results, outlook top Street viewExternal Link

SailPoint Technologies Holdings Inc. shares rallied in the extended session Wednesday after the identity governance company's quarterly results and outlook topped Wall Street estimates. SailPoint shares surged 7% after hours. The company reported fourth-quarter net income of $5.4 million, or 3 cents a share, compared with a loss of $3.3 million, or 6 cents a share, in the year-ago period. Adjusted earnings were 17 cents a share. Revenue rose to $67.8 million from $44.3 million in the year-ago period. Analysts surveyed by FactSet had estimated 8 cents a share on revenue of $55.6 million. For the first quarter, SailPoint estimates an adjusted loss of 4 cents to 3 cents a share on revenue of $44 million to $45 million. Analysts expect a loss of 6 cents a share on revenue of $43 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 21 Feb 2018 22:21:44 GMT
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API says U.S. oil inventories fell: reportsExternal Link

The American Petroleum Institute showed a fall in U.S. oil inventories by around 900,000 barrels last week, news reports said Wednesday. Official data from the Energy Information Administration are due Thursday morning. A survey of analysts by The Wall Street Journal produced an average estimate for a 1.9 million barrel rise in crude supplies. April oil futures on the New York Mercantile Exchange trimmed a decline in electronic trading, changing hands at $61.34 a barrel, a loss of 34 cents.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 21 Feb 2018 22:15:04 GMT
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Diebold Nixdorf names Gerrard Schmid its new CEOExternal Link

Diebold Nixdorf Inc. said late Wednesday that Gerrard Schmid will join the company as president and chief executive officer, effective immediately. He also joins the Diebold Nixdorf board, the company said. Schmid, 49, is a "seasoned" corporate executive with "a track record of delivering value in a transforming environment," Diebold said in a statement. His leadership will help Diebold Nixdorf "accelerate its evolution as the global market leader in connected commerce," it said. Shares of Diebold were flat in late trading after ending the regular session down 2.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 21 Feb 2018 22:08:06 GMT
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