Stocks Stay Positive as Oil Reaches 15-Month High, Bank Earnings Beat Expectations

Stocks Stay Positive as Oil Reaches 15-Month High, Bank Earnings Beat Expectations

Stocks closed modestly higher for a second consecutive day, buoyed by a 15-month high in brent crude oil and positive quarterly earnings from the financial sector. Oil raced higher mid-morning on the combination of remarks from the Saudi oil minister regarding production cuts and an unexpected drop in inventory levels. As a result, West Texas intermediate gained 2.25% on the futures market, while brent was up 1.7%. The banking sector […]

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Landstar System Up Slightly in Late Trade After Topping Q3 Earnings Expectations; Q4 EPS Outlook Also Beats Street View

Landstar System Up Slightly in Late Trade After Topping Q3 Earnings Expectations; Q4 EPS Outlook Also Beats Street View

Landstar System Inc. (LSTR) was edging higher in Wednesday late trading after the trucking and logistics company tonight reported Q3 net income of $0.86 per share, down from $0.90 per share during the same quarter last year but still beating the Capital IQ consensus by $0.05 per share. Revenue for the three months ended Sept. 30 declined % from year-ago levels to $788 million, better than the $777.4 million Street […]

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Stocks Maintain Gains by US Close on Support From Oil Price Rally, Earnings

Stocks Maintain Gains by US Close on Support From Oil Price Rally, Earnings

Stocks in the US stayed stronger by the close on Wednesday as oil prices gained and stronger earnings reports added lift, although a slide in Intel (INTC) after its financials constrained some of the gains. The Nasdaq, where Intel trades, underperformed the other benchmarks, as the chipmaker ended 5.9% lower. It was also the worst performer among the blue chips on the Dow Jones Industrial Average. American Express (AXP) posted […]

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HNI Reports Q3 Beat; Sees FY16 EPS Above, FY17 EPS In Line with Street

HNI Reports Q3 Beat; Sees FY16 EPS Above, FY17 EPS In Line with Street

HNI (HNI) rose marginally in Wednesday’s late trading after the company reported financial results for Q3, with better-than expected earnings and revenue; it also provided guidance for Q4, fiscal 2016 and fiscal 2017. For the quarter ended Oct. 1, the provider of office furniture and hearth products posted Q3 non-GAAP earnings of $0.80 per share, compared with the prior-year period’s $0.93 per share. Analysts polled by Capital IQ were expecting […]

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Exponent Gains After-Hours on Stronger-than-Expected Q3 Results, Boosted Share Buyback Authorization

Exponent Gains After-Hours on Stronger-than-Expected Q3 Results, Boosted Share Buyback Authorization

Exponent (EXPO) advanced in extended trading on Wednesday after the engineering and scientific consulting firm reported stronger-than-expected Q3 results, added to its current share buyback authorization, and maintained its quarterly dividend. EPS decreased to $0.42 in the September quarter, from $0.43 in the year-ago period, beating the $0.34 average estimate of analysts polled by Capital IQ. Q3 revenue declined 2% to $77.6 million year-over-year, but topped the analyst consensus of […]

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