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Yahoo BusinessAug 03, 2021
Dow Jones Futures Signal Stock Market Rally, SolarEdge Shines; Tesla, Square Lead New Buys


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MarketWatchAug 03, 2021
: Tencent and other gaming stocks tumble after China news outlet labels them ‘spiritual opium' for teens
Investors are worried a new level of regulation could be coming for the hard-hit technology sector in China.

MarketWatchAug 03, 2021
Earnings Results: Alibaba tops profit expectations, boosts buyback program
Alibaba Group Holding Ltd. beat earnings estimates Tuesday but fell slightly short of revenue expectations, while also announcing a boost to its buyback program.

MarketWatch MarketPulseAug 03, 2021
Expeditors beats earnings expectations, sees logistics challenges remaining for rest of the year
Expeditors International of Washington Inc. reported Tuesday second-quarter profit and revenue that rose well above expectations, and said logistics challenges are likely to remain through the rest of the year while demand is expected to remain robust. The airfreight and ocean freight company's stock was still inactive in premarket trading. Net income rose to $316.4 million, or $1.84 a share, from $183.9 million, or $1.09 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.63. Revenue increased 49.7% to $3.61 billion, above the FactSet consensus of $3.40 billion. Cost of transportation and other expenses rose 56% to $2.60 billion. "Robust demand is bumping up against capacity constraints in the air and ocean markets, all of which is made more challenging by limited warehouse space, staffing constraints, port congestion, equipment dislocations, and driver shortages, not to mention additional disturbances such as the closure of the Yantian port due to a COVID-19 outbreak in May or the blockage of the Suez Canal back in March," said Chief Executive Jeffrey Musser. "While we remain optimistic that conditions will improve over time, we are unable to predict when that might take place, or how even the recovery might be, and we believe that demand will likely continue to outstrip capacity in both air and ocean for the near term, keeping buy/sell rates unsettled for at least the duration of 2021." The stock has rallied 12.0% over the past three months, while the Dow Jones Transportation Average has dropped 8.0% and the Dow Jones Industrial Average has gained 2.1%.

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.



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Ralph Lauren shares surge after earnings blow past expectations (MarketWatch MarketPulse)

MarketWatch Breaking NewsAug 03, 2021
Sanofi to acquire mRNA developer for $3.2 billion
Sanofi to acquire mRNA developer for $3.2 billion

Yahoo BusinessAug 03, 2021
Clorox shares slide 7% premarket as earnings hurt by inflation and lower demand for cleaning products


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Bausch Health shares slide 6% premarket after surprise loss, says will seek IPO of Solta Medical business (MarketWatch MarketPulse)

MarketWatchAug 03, 2021
: The delta variant is more than twice as contagious as previous strains of the virus, CDC says, as health officials urge vaccinations
Federal health officials struck a serious tone on Monday, once again urging Americans to get vaccinated and calling on more employers to require COVID-19 vaccine mandates.

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Coronavirus tally: Global cases of COVID-19 near 199 million , CDC urges vaccination against 'highly contagious' delta variant (MarketWatch MarketPulse)

Forbes HeadlinesAug 03, 2021
Fed Reserve Bank Executive Says The Delta Variant Surge May Disrupt The Job Market As "It's Creating A Bunch Of Caution."
Uncertainty about the future is an anathema to job growth. When companies are afraid of what will happen next, they tend to hold off on making decisions. With the possible threat of some sort of shutdown, executives will hold off on hiring and possibly downsize employees.

MarketWatch MarketPulseAug 03, 2021
Wolverine World Wide buys athletic brand Sweaty Betty in $410 million all-cash deal
Wolverine World Wide Inc. announced Tuesday that it has acquired British lifestyle brand Sweaty Betty in a $410 million all-cash deal. Wolverine funded the transaction with cash and credit. Founded in 1998, more than 80% of Sweaty Betty's sales come through direct-to-consumer channels. "The acquisition of Sweaty Betty complements our strategic shift over the last several years from a traditional footwear wholesaler into a consumer-obsessed, digital-focused growth company," said Wolverine Chief Executive Blake Krueger in a statement. Wolverine brands include the namesake label, Keds, Saucony and Merrell. "It also gives us a leadership position in the growing women's activewear category," he said. Wolverine expects the deal to be earnings accretive in a year. Wolverine acquired all of the shares of Lady of Leisure InvestCo Limited, the group that owns Sweaty Betty, from L Catterton and other shareholders. Wolverine stock rose 1.3% in premarket trading after the deal, and has gained 7.7% for the year to date. The S&P 500 index is up 16.8% for 2021 so far.

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.



MarketWatch Breaking NewsAug 03, 2021
Simone Biles wins bronze in return to Olympics competition
Simone Biles wins bronze in return to Olympics competition

Yahoo BusinessAug 03, 2021
ConocoPhillips shares jump about 2% premarket after profit tops estimates


MarketWatch MarketPulseAug 03, 2021
Arconic stock slips after swinging to loss, while revenue came up short of expectations
Shares of Arconic Corp. slipped 0.2% in premarket trading Tuesday, after the aluminum company swung to a loss, which included a one-time pension charge, and revenue that came up a bit shy of forecasts. The net loss was $427 million, or $3.89 a share, after net income of $52 million, or 48 cents a share, in the year-ago period. The results included a pension settlement charge of $423 million related to the partial annuitization of U.S. pension obligations. Sales increased 51.7% to $1.80 billion, but was below the FactSet consensus of $1.87 billion, as rolled products revenue grew 67.5% to $1.47 billion. Arconic raised its 2021 revenue guidance range to $7.3 billion to $7.6 billion from $7.1 billion to $7.4 billion. The company said after buying back nearly $9 million worth of stock in the second quarter, it repurchased more than doubled that amount during July. The stock has run up 18.9% year to date through Monday, while the S&P 500 has gained 16.8%.

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.



MarketWatch MarketPulseAug 03, 2021
DuPont stock surges after profit and sales beats, raised full-year outlook
Shares of DuPont de Nemours Inc. rallied 1.7% in premarket trading Tuesday after the specialty materials and chemicals company reported second-quarter earnings that beat expectations, amid an ongoing recovery in markets hurt by the COVID-19 pandemic a year ago, and raised its full-year outlook. The company swung to net income of $478 million, or 90 cents a share, from a loss of $2.48 billion, or $3.37 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.06 from 31 cents, beating the FactSet consensus of 94 cents. Sales grew 25.7% to $4.14 billion, above the FactSet consensus of $3.99 billion. For 2021, the company raised its adjusted EPS guidance range to $4.24 to $4.30 from $3.60 to $3.75 and listed its sales guidance to $16.45 billion to $16.55 billion from $15.7 billion to $15.9 billion. "Continued positive momentum in almost all of our key end-markets, including semiconductor, smartphones, automotive, and residential construction, enabled us to deliver strong second quarter results ahead of expectations with year-over-year and sequential growth in all three reporting segments," said Chief Executive Ed Breen. The stock has gained 5.0% year to date through Monday, while the S&P 500 has gained 16.8%.

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.



MarketWatch MarketPulseAug 03, 2021
Tyson Foods to require vaccinations for all U.S. workers
Tyson Foods Inc. announced Tuesday that it will require all office staff to be vaccinated by October 1, and all other workers to be vaccinated by November 1, pending discussions with locations represented by unions. Tyson said nearly half of its workers are already vaccinated, and the company has hosted more than 100 vaccination events. The meat manufacturer says it will provide $200 to workers, subject to those union discussions, along with the policy to compensate workers for up to four hours of pay if they're vaccinated outside of their shift or through an external source. Tyson has spent $700 million to date on protective gear, vaccinations and other COVID-19-related measures. At one point, the illness had infected 1,000 of 2,800 workers in the company's Waterloo facility. Tyson shares are up 11.3% for the year to date while the benchmark S&P 500 index has gained 16.8% 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.



MarketWatch MarketPulseAug 03, 2021
Marvell Technology to acquire Innovium in all-stock deal valued at $1.1 billion
Marvell Technology Inc. said Tuesday it has reached an agreement to acquire Innovium Inc., a provider of software for cloud and edge data centers, in an all-stock deal valued at $1.1 billion. The deal is expected to close by year-end and to add $150 million in incremental revenue in fiscal 2023. It's expected to be neutral to Marvell's adjusted per-share earnings in the first quarter after close and too boost it in the first full fiscal year after that. Marvell, which makes infrastructure semiconductor software, has a portfolio of Ethernet switch semiconductor solutions for the enterprise and carrier segment. "Innovium's TERALYNX(TM) switching architecture delivers the ultra-low latency, optimized power, high performance, and innovative telemetry that are critical in today's cloud-scale data centers," Marvell said in a statement. The deal will allow Marvell to "immediately participate in the fastest growing segment of the switch market with a cloud-optimized solution," said the statement. Marvell shares were slightly higher premarket and have gained 27% in the year to date, while the S&P 500 has gained 16.8%.

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.



MarketWatch MarketPulseAug 03, 2021
Under Armour reports better-than-expected earnings, raises guidance
Under Armour Inc. shares jumped 5.4% in Tuesday premarket trading after the athletic company reported second-quarter earnings that far exceeded expectations and raised its 2021 guidance. Net income totaled $59.2 million, or 13 cents per share, after a loss of $182.9 million, or 40 cents per share, last year. Adjusted EPS of 24 cents blew past the FactSet consensus for 6 cents. Revenue of $1.352 billion was up from $707.6 million last year and ahead of the FactSet consensus for $1.218 billion. Under Armour is now guiding for revenue growth in a low-20 percentage rate compared with previous guidance for high-teens percentage rate. EPS is expected to be 14 cents to 16 cents up from previous guidance for 2 cents to 4 cents. And adjusted EPS is expected to be 50 cents to 52 cents, up from prior guidance for a range of 28 cents to 30 cents. The FactSet consensus is for revenue of $5.346 billion, implying 19.5% growth, and EPS of 35 cents. Under Armour shares have gained 23% for the year to date while the S&P 500 index is up 16.8% 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.



Yahoo BusinessAug 02, 2021
August is among the worst months of year for the stock market. Here's how to play it.


MarketWatchAug 02, 2021
: Disney, Google and other U.S. companies requiring workers to get vaccinated before returning to the office
See which U.S. companies are requiring workers to get vaccinated before returning to the office

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NewsWatch: See which U.S. companies are requiring workers to get vaccinated before returning to the office (MarketWatch)

MarketWatchAug 02, 2021
The Wall Street Journal: NLRB official recommends new vote for Amazon workers in Alabama, union says
A federal official from the National Labor Relations Board is recommending holding a new vote and nullifying the results from a closely watched contest in which Amazon.com Inc. warehouse workers in Alabama cast ballots overwhelmingly against unionizing, according to the union in the case.

MarketWatchAug 02, 2021
Market Snapshot: Dow stages 360-point U-turn and stocks end mostly lower as investors point to worries about COVID's delta variant
U.S. stock indexes relinquish solid gains Monday and stocks end mostly lower as persistent concerns about the spread of the COVID-19's delta variant create an excuse for modest selling in the first trading day for equity markets in August.
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