Optimism over stimulus negotiations helped the S&P 500 break a 4-day losing streak Tuesday and give the Nasdaq its seventh gain in nine sessions, pushing its year-to-date gain over 40%. The Dow Jones Industrial Average advanced 338 points, or 1.1%. The S&P 500 and tech-heavy Nasdaq both rose 1.3%.
The positive mood on Wall Street could shift depending on what today s Fed policy statement says and what Fed Chairman Jerome Powell may say during his post-meeting news conference. The Fed s statement will be out at 2:00 p.m. ET, with Powell s news conference beginning 30 minutes later.
Ahead of the Fed, the government released its latest read on U.S. consumer spending, against the backdrop of pandemic-driven high unemployment and stricter Covid-19 mitigation measures returning in many states. November retail sales dropped 1.1%, more than triple the expected decline. (Reuters)
American Outdoor Brands Rises on Strong Earnings, Outlook
American Outdoor Brands posts strong fiscal second-quarter earnings and lifts its outlook.
Author:
Shares of American Outdoor Brands (
AOUT) - Get Report traded higher Wednesday after the provider of outdoor products and accessories for hunting, fishing, camping, shooting, personal security posted fiscal second-quarter earnings higher than a year earlier and raised its outlook for fiscal 2021.
Shares of the Columbia, Mo., company rose 10.98% to $17.58 in trading Wednesday.
American Outdoor reported earnings of $7.33 million, or 52 cents a share, compared with a year-earlier loss of $393,000, or 3 cents a share.
For the quarter ended Oct. 31, revenue rose 65.6% to $79 million from $47.74 million a year earlier.
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After Hours Market: Apollo Endosurgery, American Outdoor, Sio Gene Gain; Penumbra, DISH Network Slip
MERIDIAN (dpa-AFX) - Apollo Endosurgery, Inc. (APEN) - Shares of the medical devices maker jumped 15% in after hours trading Tuesday. Apollo Endosurgery said it received FDA clearance for the X-Tack Endoscopic HeliX Tacking System. X-Tack is a new, through-the-scope, suture-based device designed specifically for closing and healing defects in the lower gastrointestinal tract.
American Outdoor Brands, Inc. (AOUT) - Shares of the outdoor sports products retailer gained 7% after the bell on Wednesday driven by second-quarter results. Second-quarter sales rose 65.7% to $79.1 million from $47.7 million, driven primarily by increases in both e-commerce and traditional sales channels. Profit were $7.3 million or $0.52 per share, compared with a net loss of $393,000 or $0.03 per share last year. Adjusted earnings were $0.77 per share. Analysts polled by Thomson Reuters estimated earnings of
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