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MarketWatch MarketPulseDec 03, 2020
Ollie's Bargain Outlet stock falls 10% after Q3 earnings
Shares of Ollie's Bargain Outlet Holdings Inc. fell more than 10% in the extended session Thursday after the grocer reported fiscal third-quarter sales and adjusted profit that topped Wall Street expectations, benefiting from increased consumer spending during the pandemic. Ollie's said it earned $45.2 million, or 68 cents a share, in the quarter, compared with $27 million, or 41 cents a share, in the third quarter of fiscal 2019. Adjusted for one-time items, the company earned 65 cents a share. Net sales increased 27% to $414.4 million, the company said, with same-store sales rising 15.3% thanks to "robust" growth during the quarter due to "a significantly larger average basket and higher transactions." The company did not provide guidance. Analysts polled by FactSet had expected Ollie to report adjusted earnings of 58 cents a share on sales of $406 million. Same-store sales were seen rising 12%. Shares of Ollie's ended the regular trading day up 3.3%.

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 MarketPulseDec 03, 2020
Movie theater stocks tumble, as Warner Bros. to release all 2021 movies in theaters and online at same time
Shares of movie theater operators tumbled Thursday, AT&T Inc.'s Warner Bros. said it will release all of its 2021 files simultaneously in theaters and its HBO Max streaming service, as The Wall Street Journal reported. AMC Entertainment Holdings Inc.'s stock sank 18.1% in afternoon trading. Also weighing on AMC shares, the company filed for the sale of up to 200 million Class A shares, which at current prices would be valued at more than AMC's current market capitalization. Elsewhere, shares of Cinemark Holdings Inc. slumped 18.9% and Imax Corp. shed 7.7%. The selloffs come on a day that the S&P 500 rose 0.2% toward a record close. Meanwhile, AT&T shares tacked on 0.2%.

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 MarketPulseDec 03, 2020
Oil futures settle higher as OPEC agrees to a gradual increase in production at the start of the year
Oil futures finished higher on Thursday, even as the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC , announced that they've reached an agreement to pare current production cuts of 7.7 million barrels per day to 7.2 million barrels per day beginning in January. That essentially raises their collective production by 500,000 barrels a day. The group said it will hold monthly OPEC and non-OPEC ministerial meetings starting in January to "assess market conditions and decide on further production adjustments for the following month, with further monthly adjustments being no more than 0.5 mb/d." January West Texas Intermediate crude rose 36 cents, or 0.8%, to settle at $45.64 a barrel on the New York Mercantile Exchange.

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 MarketPulseDec 03, 2020
Coronavirus tally: Global cases of COVID-19 above 64.5 million, and U.S. sets record one-day death toll of 2,885
The global tally for confirmed cases of the coronavirus that causes COVID-19 rose above 64.5 million on Thursday, according to data aggregated by Johns Hopkins University, while the death toll rose above 1.49 million. The U.S. has the highest case tally in the world at 13.9 million and the highest death toll at 273,847 or more than a fifth of the global total. The U.S. counted 199,988 new cases on Wednesday, and at least 2,885 people died, according to a New York Times tracker, the most in a single day since the start of the outbreak. In the last week, the U.S. has averaged 164,024 cases a day. There were a record 100,226 COVID-19 patients in U.S. hospitals on Wednesday, according to the COVID Tracking Project, topping Tuesday's record of 98,691. Brazil has the second highest death toll at 174,515 and is third by cases at 6.4 million. India is second worldwide in cases with 9.5 million, and third in deaths at 138,648. Mexico has the fourth highest death toll at 107,565 and 11th highest case tally at 1.13 million. The U.K has 59,796 deaths, the highest in Europe and fifth highest in the world, and 1.66 million cases, or seventh highest in the world.

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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