PopMuse: Capital Markets http://popmu.se Musings of stuff en-us Copyright 2007-2019 http://creativecommons.org/licenses/by-nc-sa/3.0/ MedMen's stock extends selloff below a buck after job cuts, plans for asset sales http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/4HMS5Brhwbg/story.aspx http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/4HMS5Brhwbg/story.aspx Mon, 18 Nov 2019 18:15:25 UTC MarketWatch.com - MarketPulse Shares of MedMen Enterprises Inc. tumbled 21% toward a record low in active afternoon trading Monday, in the wake of the California-based cannabis retailer's announcement of job cuts and plans to sell assets in an effort to cut spending. The stock, which went public in May 2018, had broken the buck on a closing basis for the first time on Friday, when it closed at 99 cents. It has now plummeted 60% over the past three months, while the ETFMG Alternative Harvest ETF has dropped 38% and the S&P 500 has gained 8%. Late Friday, the company said it was cutting more than 20% of its staff, scale back marketing and outsource some operations.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. http://creativecommons.org/licenses/by-nc-sa/3.0/ Qudian's stock plunges to pace NYSE losers after profit miss, lowered outlook http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/-MyaSLomj0g/story.aspx http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/-MyaSLomj0g/story.aspx Mon, 18 Nov 2019 17:54:53 UTC MarketWatch.com - MarketPulse Shares of China-based credit products company Qudian Inc. plunged 20% on heavy volume toward a 7-month low in midday trading, enough to pace all NYSE-listed decliners, after the reported third-quarter earnings that missed expectations and cut its full-year outlook. Trading volume spiked to 18.8 million shares, compared with the full-day average of about 3.4 million shares. The company said net income increased to RMB1.04 billion ($146 million), or RMB3.29 a share, from RMB683.8 million, or RMB2.13 a share, in the year ago period, but below the average analyst estimate of RMB3.58 a share, according to FactSet. Revenue rose 34% to RMB2.59 billion ($362.5 million), to top the FactSet consensus of RMB2.06 billion. Total registered users grew 12% from a year ago to 78.3 million, while the number of outstanding borrowers increased 3.4% from the sequential second quarter 6.3 million. "Due to recent strategy for the company to reduce risk-taking loan balance and focus on higher quality borrowers via open-platform," Qudian cut its guidance for 2019 adjusted net income to RMB4.0 billion from RMB4.5 billion. The stock has shed 33.2% over the past three months, while the S&P 500 has gained 8.0%. 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. http://creativecommons.org/licenses/by-nc-sa/3.0/ Tupperware opens first-ever store in NYC's Soho neighborhood http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/bTnZUhQK5xk/story.aspx http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/bTnZUhQK5xk/story.aspx Mon, 18 Nov 2019 17:45:27 UTC MarketWatch.com - MarketPulse Tupperware Brands Corp. announced the opening of its first-ever store, a pop-up in New York City's Soho neighborhood. The shop will be open until Dec. 22, and coincides with the launch of the redesigned e-commerce site. Tupperware stock is down nearly 9% in Monday trading, and more than 50% over the past month. The S&P 500 index is up 4.5% over the past month. Last week, the company announced that Tricia Stitzel, the company's chief executive, had stepped down. And the company announced third-quarter earnings that missed estimates and gave guidance that misses the FactSet forecast on Oct. 30. 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. http://creativecommons.org/licenses/by-nc-sa/3.0/ Fed's Mester says central bank can watch and wait on interest rates http://feeds.marketwatch.com/~r/marketwatch/bulletins/~3/vuWea2gNNjU/go http://feeds.marketwatch.com/~r/marketwatch/bulletins/~3/vuWea2gNNjU/go Mon, 18 Nov 2019 17:25:38 UTC MarketWatch.com - MarketWatch Breaking News Bulletins Fed's Mester says central bank can watch and wait on interest rates http://creativecommons.org/licenses/by-nc-sa/3.0/ Huawei gets 90-day extension for doing business with U.S. companies http://feeds.marketwatch.com/~r/marketwatch/bulletins/~3/lwuKUhrhfHg/go http://feeds.marketwatch.com/~r/marketwatch/bulletins/~3/lwuKUhrhfHg/go Mon, 18 Nov 2019 17:23:39 UTC MarketWatch.com - MarketWatch Breaking News Bulletins Huawei gets 90-day extension for doing business with U.S. companies http://creativecommons.org/licenses/by-nc-sa/3.0/ Three killed and several wounded in Walmart shooting in Oklahoma http://feeds.marketwatch.com/~r/marketwatch/bulletins/~3/SVwElcTANq0/go http://feeds.marketwatch.com/~r/marketwatch/bulletins/~3/SVwElcTANq0/go Mon, 18 Nov 2019 17:07:49 UTC MarketWatch.com - MarketWatch Breaking News Bulletins Three killed and several wounded in Walmart shooting in Oklahoma http://creativecommons.org/licenses/by-nc-sa/3.0/ Huawei granted 90-day extension to do business with U.S. companies http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/VmfmKHrwhdQ/story.aspx http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/VmfmKHrwhdQ/story.aspx Mon, 18 Nov 2019 17:06:12 UTC MarketWatch.com - MarketPulse The U.S. Commerce Department on Monday granted a 90-day extension that will allow American companies to keep doing business with Chinese telecom giant Huawei Technologies Co. Ltd. Commerce Secretary Wilbur Ross said in a statement that the extension "will allow carriers to continue to service customers in some of the most remote areas of the United States who would otherwise be left in the dark." Earlier this year the company was added to a federal list of restricted entities and its status has been an issue in trade talks between the U.S. and China. 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. http://creativecommons.org/licenses/by-nc-sa/3.0/ Splunk stock gains after Morgan Stanley turns bullish http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/_NU3_jUImLw/story.aspx http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/_NU3_jUImLw/story.aspx Mon, 18 Nov 2019 16:37:19 UTC MarketWatch.com - MarketPulse Shares of Splunk Inc. are up 2.4% in Monday morning trading after Morgan Stanley analyst Keith Weiss upgraded the stock to overweight from equal-weight while boosting his price target to $169 from $140. He cites "increasing clarity from a shift to a recurring revenue model" that in his view is likely to lead to more than 25% in annual-recurring-revenue growth. "Top-line growth is more durable than it appears," he wrote, as the company appears to have a more competitive product portfolio and a smarter pricing model. Weiss also sees fiscal 2023 free-cash flow nearing $1 billion. Shares have increased 31% over the past three months, while the S&P 500 has gained 8%. 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. http://creativecommons.org/licenses/by-nc-sa/3.0/ Workday stock falls after Morgan Stanley downgrade http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/BKSlL3Ca8-Y/story.aspx http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/BKSlL3Ca8-Y/story.aspx Mon, 18 Nov 2019 16:32:30 UTC MarketWatch.com - MarketPulse Shares of Workday Inc. are off 0.9% in Monday morning trading after Morgan Stanley analyst Keith Weiss downgraded the stock to equal weight from overweight, citing slowing human-capital-management momentum and a more challenging spending landscape. "While we are circumspect to downgrade a stock already down >25% from its highs, Workday likely struggles to regain prior levels in the near-term as investors and consensus adjust to the new glide path for subscription growth," he wrote. Weiss lowered his price target to $180 from $219 on Workday's stock, which has fallen 15% over the past three months. The S&P 500 has increased 8% in that time. 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. http://creativecommons.org/licenses/by-nc-sa/3.0/ Karuna Therapeutics' stock more than triples after upbeat trial results of schizophrenia treatment http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/YxenX4uSk98/story.aspx http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/YxenX4uSk98/story.aspx Mon, 18 Nov 2019 16:18:11 UTC MarketWatch.com - MarketPulse Shares of Karuna Therapeutics Inc. more than tripled (up 254%) in active trading, to lift the biopharmaceutical company's market capitalization to well above $1 billion, after a phase 2 trial of its schizophrenia treatment met its primary endpoint. Trading volume ballooned to 6.5 million shares, compared with the full-day average of about 70,000 shares. The company said its KarXT port the treatment of acute psychosis in schizophrenia patients demonstrated a "statistically significant and clinically meaningful" reduction in total positive and negative syndrome scale (PANSS) score compared with a placebo. KarXT was also well tolerated. "With this information, and following our anticipated end-of-Phase 2 meeting with the FDA in the second quarter of 2020, we will work to initiate a Phase 3 clinical trial of KarXT in patients with schizophrenia by the end of 2020," said Chief Medical Officer Stephen Brannan. The stock, which went public on June 28 at an initial-public-offering price of $16, has nearly tripled (up 182%) over the past three months, while the iShares Nasdaq Biotechnology ETF has gained 5.5% and the S&P 500 has rallied 7.9%.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. http://creativecommons.org/licenses/by-nc-sa/3.0/