Market Focus

Deere

Shares of Deere dipped on a shaky forecast. The farming equipment maker posted fourth quarter results that were stronger than Wall Street expected. But the company said its sales and profit will keep falling in the new fiscal year as sales for its products remain weak. The stock fell nearly one percent to $86.99.

CBS & Dish Network

A sigh of relief for football fans who are Dish subscribers. CBS and Dish Network have agreed to another extension of their contract talks, meaning no CBS blackout over the Thanksgiving weekend. This is the second contract extension in six days. CBS shares fell fell a fraction to $54.20. Shares of Dish were 2.5 percent higher to $78.24.

Twitter

Twitter saw its shares rise on acquisition rumors. The company is reportedly in talks to buy Shots, a selfie app backed by pop star Justin Bieber. Twitter’s acquisition plans accidentally became public knowledge when the company’s CFO accidentally tweeted about making plans for a deal. Shares popped 3.5 percent to $41.13.

Bristol-Myers Squibb

Bristol-Myers Squibb says the FDA declined to approve the use of its experimental hepatitis C drug, which would be used in combination with other anti-viral drugs. The company wanted to market the drug with another experimental medicine that it abandoned in October because of competition for more potent rival drugs. Despite the rejection, shares were up a fraction to $58.86.

Seadrill

One of today’s big movers was Seadrill. The stock plunged after the Bermuda based offshore oil drilling contractor reported earnings that missed some analyst estimates. The company also said it was suspending dividend payments to cut debt. Investors weren’t happy about that shares fell almost 23 percent to $15.99.

GoPro

Shares of GoPro took off after reports that the company is launching its own line of consumer drones with hi-definition cameras. The company plans to sell the new devices late next year for between $500 and $1,000. The stock rose six percent to $79.05.

This entry was posted in Market Focus. Bookmark the permalink.

Leave a Reply