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Treasury Secretary says U.S. debt limit won't be hit before Oct. 30External Link

The U.S. is not at risk of breaching the debt ceiling before Oct. 30, Treasury Secretary Jacob Lew said Wednesday, in a new estimate sent to Congressional leaders. Treasury has been using so-called extraordinary measures since mid-March. Lew told the lawmakers that those measures will now last through the end of October. The Treasury Secretary urged Congress to raise the debt limit as soon as possible. The debt limit caps how much the government can borrow. It used to be raised routinely but has recently become the source of a bitter political tug-of-war.

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, 29 Jul 2015 20:45:11 GMT
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Whole Foods shares drop on earnings miss, weak outlookExternal Link

Whole Foods Market Inc. shares dropped Wednesday after the upscale natural and organic food market missed on fiscal third-quarter earnings and issued a weak outlook. Shares of Whole Foods fell 10% to $36.60 on heavy volume. The company reported third-quarter earnings of 43 cents a share on revenue of $3.63 billion. Analysts surveyed by FactSet had estimated 45 cents a share on revenue of $3.69 billion. Whole Foods forecast fiscal fourth-quarter earnings of between 34 cents to 35 cents a share, while analysts had estimated 38 cents a share.

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, 29 Jul 2015 20:18:47 GMT
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AMC shares lower after company misses EPS estimatesExternal Link

AMC Entertainment Holdings Inc. said Wednesday it earned $43.9 million, or 45 cents a share, compared with 32 cents a share a year ago. Revenue hit $821.1 million, up from $727 million, the company said. Analysts polled by FactSet had expected AMC to report earnings of 47 cents a share on sales of $810 million. The movie-theater chain said its average ticket price rose to $9.91 from $9.55 a year ago, and its food and beverage revenues per movie-goer rose 10% to $4.65, the highest ever for the company. Shares of AMC fell 1.6% in late trading Wednesday, after ending the regular session up 1.7%.

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, 29 Jul 2015 20:14:51 GMT
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Skechers shares jump after profit, sales blow past estimates External Link

Skechers USA Inc. shares rallied about 10% in after-hours trade Wednesday, after the casual footwear company blew past second-quarter profit and sales estimates. The company said it had net profit of $79.8 million, or $1.55, in the quarter, up from $34.8 million, or 68 cents a share, in the year-earlier period. Sales climbed to $800.5 million from $587.1 million. The FactSet consensus was for EPS of $1.01 and sales of $736 million. "Driving this growth were double-digit increases in our three main business channels: domestic wholesale with an average price per pair increase of 9.0 percent; international wholesale, which includes 665 third-party-owned Skechers retail stores; and Company-owned Skechers domestic and international retail stores with a total comp store sales increase of 12.9 percent for the quarter," Chief Operating Officer and Chief Financial Officer David Weinberg said in a statement. The company is 'comfortable' with consensus estimates for the second half, he said. Shares have gained 132% in the year so far, while the s&P 500 is up 2.4%.

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, 29 Jul 2015 20:13:07 GMT
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U.S. stocks end higher after Fed meetingExternal Link

U.S. stocks closed higher Wednesday after the Federal Reserve offered no clear indication of the timing of the next rate hike, but left itself room to act as early as September, citing continued "solid" gains in the job market. The S&P 500 gained 15.32 points, or 0.7%, to 2,108.57. The Dow Jones Industrial Average jumped 121.12 points, or 0.7%, to 17,751.39, marking the fifth consecutive triple-digit move for the blue-chip index. The Nasdaq Composite ended the session up 22.53 points, or 0.4%, at 5,111.73.

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, 29 Jul 2015 20:08:46 GMT
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