West Virginia Online PowerBroker West Virginia Online PowerBroker
HOME SECTIONS SEARCH NEWS FINANCE MY ACCOUNT ABOUT
Wed, May 23 // 12:29PM est. Good Morning! Login New Shopper? Start Here New Business? Start Here
West Virginia Online PowerBroker



Finance

 
Financial News


EIA reports a surprise weekly climb of nearly 6 million barrels in U.S. crude suppliesExternal Link

The U.S. Energy Information Administration reported Wednesday that crude supplies climbed by 5.8 million barrels for the week ended May 18. Analysts surveyed by S&P Global Platts had forecast a decline of 1.7 million barrels, while the American Petroleum Institute on Tuesday reported a fall of 1.3 million barrels, according to sources. Gasoline stockpiles also rose by 1.9 million barrels for the week, while distillate stockpiles fell 1 million barrels, according to the EIA. The S&P Global Platts survey forecast supply declines 620,000 barrels for gasoline and 1 million barrels for distillates. July crude was down 84 cents, or 1.2%, to $71.36 a barrel on the New York Mercantile Exchange, down from $72.01 before the supply data.

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, 23 May 2018 14:39:12 GMT
West Virginia Online PowerBroker
Red Robin opens at six-month low, but analysts hang on to outperform ratingExternal Link

Red Robin Gourmet Burgers Inc. shares fell to a six-month low, sinking 17.6% in Wednesday trading, after the burger chain reported earnings that missed expectations but analysts remain bullish. Raymond James analysts held on to their outperform rating despite the plunge, calling the reaction "overdone" for a number of reasons, including same-store sales, which fell 0.9% driven by a decrease in average check, but exceed broader industry trends. Still, Raymond James cut its price target to $65 from $72. Canaccord Genuity held on to its buy rating, but also cut its price target to $65 from $75. "For the positive, guest traffic outperformance vs. the industry continued and labor savings initiatives are beginning to gain traction," analysts wrote. "[W]e believe that comps should sequentially improve given the company's strong value messaging and growth in off-premise." Red Robin said off-premise sales increased to 9.4% of total food and beverage sales. Red Robin shares are down 15.5% for the year to date while the S&P 500 index is up 1.7% for the period.

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, 23 May 2018 14:25:20 GMT
West Virginia Online PowerBroker
TJX Cos. shares jump 1.5% premarket as first-quarter sales blow past estimatesExternal Link

TJX Cos. Inc. shares rose 1.5% in premarket trade Tuesday, after the discount retailer posted stronger-than-expected sales for its fiscal first quarter. The company said it had net income of $716.4 million, or $1.13 a share, in the quarter, up from $536.3 million, or 82 cents a share, in the year-earlier period. Adjusted per-share earnings came to 96 cents, excluding a 17 cents benefit due to items relating to the December tax revamp. Sales rose 12% to $8.7 billion. The FactSet consensus was for EPS of $1.02 and sales of $8.5 billion. Same-store sales rose 3% to beat the FactSet consensus of 2.5%. Chief Executive Ernie Herrman said the numbers were better than the company expected. "Customer traffic was once again the primary driver of our comparable store sales increases at each of our four large divisions," he said. "Based on our strong first quarter performance, we are updating our outlook for full-year earnings per share. The company increased the low end of its fiscal 2019 EPS guidance and maintained the high end. It raised the high end of fiscal 2019 guidance by 2 cents to reflect the strong first quarter. Shares have gained 12.5% in the last 12 months, while the S&P 500 has gained 14%.

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, 23 May 2018 14:17:29 GMT
West Virginia Online PowerBroker
FDA warns that pain-relieving teething products are unsafe, asks companies to stop selling themExternal Link

The Food and Drug Administration issued a warning early Wednesday about over-the-counter teething products that contain the pain reliever benzocaine, saying the products were unsafe and asking the companies that make them to stop. Affected products include those sold by Pfizer's Anbesol line , Church & Dwight's Orajel and Baby Orajel , Reckitt Benckiser's Cepacol , Prestige Brands' Chloraseptic , privately-held Beutlich Pharmaceuticals' Hurricaine and Colgate-Palmolive's Orabase , along with generic products and those made by store brands. Benzocaine can cause a life-threatening condition called methemoglobinemia, which reduces the amount of oxygen carried through the blood. There have been an estimated more than 400 cases of methemoglobinemia connected to benzocaine since 1971, 119 of which occurred in the last decade, according to the FDA. There's also a lack of evidence that these benzocaine products work for teething, FDA Commissioner Scott Gottlieb said. The regulator is also asking companies to add warnings to other oral health products that use benzocaine, as well as prescription local anesthetics. Benzocaine is a common ingredient in cough drops and products for oral ulcers. The FDA also warned consumers earlier this year against using homeopathic teething tables, due to the presence of the toxic substance belladonna.

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, 23 May 2018 14:17:12 GMT
West Virginia Online PowerBroker
Avinger's stock rockets on heavy volume after PAD treatment receives FDA clearanceExternal Link

Shares of Avinger Inc. rocketed 49% in active morning trade Wednesday, after the maker of peripheral artery disease (PAD) treatments said its Pantheris Lumivascular atherectomy system received clearance from the Food and Drug Administration. Volume spiked to over 12 million shares within the first 15 minutes after the opening bell, compared with the full-day average of under 1 million shares, according to FactSet. Avinger said the new Pantheris Lumivascular system is the first-ever image-guided atherectomy device for the treatment of PAD. Despite Wednesday's rally, the stock was still down 73.2% year to date, while the SPDR Health Care Select Sector ETF has inched up 0.4% and the S&P 500 has gained 1.6%.

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, 23 May 2018 13:44:15 GMT
West Virginia Online PowerBroker


West Virginia Online PowerBroker
In The Spotlight...
River Expeditions
Experience real adventure in the scenic, historic New River Gorge National Park in West Virginia. Discover amazing rafting, rock climbing, mountain biking, ATV touring, horseback riding and more. Let River Expeditions host your trip for memories that last a lifetime. Our affordable vacation packages include lodging, meals, adventures and attractions. Rafting is a must… something the entire family can enjoy together for years to come.



Site Statistics
Memberships 2733
Business Listings 4154
Home | Sections | Search | News | Finance | My Account | Terms and Conditions | Privacy Policy

© 2018 Citynet. All Rights Reserved.