Stock futures fell sharply as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.US Marketsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
Tesla was set for its seventh straight day of losses after more analysts joined the growing list of those concerned with its finances.Investingread more
"For them to say that they don't work with the Chinese government is false," says Secretary of State Mike Pompeo.Politicsread more
With Tesla shares skidding, two experts weigh in on what could be next for the automaker and its volatile stock.Trading Nationread more
Papa John's founder John Schnatter has been selling his shares in the company but remains its largest shareholder.Restaurantsread more
First-time claims for state unemployment benefits were expected to total 215,000 for the most recent week, up slightly from the 212,000 claims reported for the previous week.Economyread more
U.S. Secretary of State Mike Pompeo joined CNBC's "Squawk Box" on Thursday.Energyread more
Chipotle Mexican Grill is about to take a hit from rising prices due to African swine fever, according to BMO Capital Markets.Marketsread more
British Prime Minister Theresa May could announce her resignation in the next few days, according to U.K. media reports, as she faces increasing pressure from members of her...Europe Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
Weight Watchers shares tanked nearly 14 percent Thursday after the company said the number of subscribers had declined for the second quarter in a row and its third-quarter earnings and revenue missed expectations.
The company reported third-quarter net income of $70.1 million, or $1 per share, up from $44.7 million, or 65 cents per share, in the year earlier. Excluding a gain from a reversal of a tax reserve, the company earned 96 cents per share, 5 cents below the the 99 cents per share expected by analysts surveyed by Refinitiv.
Weight Watchers, which has rebranded to WW, posted revenue of $365.8 million, well short of the $379 million analysts polled by Refinitiv had expected.
"We have accomplished a great deal in 2018; however, I believe the true impact of our bold moves will be realized in 2019 and beyond," CEO Mindy Grossman said in a statement.
The company reported a record 4.6 million subscribers at the end of the first quarter, helping to send its stock price to a record intraday high of $105.73 on June 20. That number slipped to 4.5 million in the second quarter and fell to 4.2 million this quarter.
Shares closed at $68.49 on Thursday.
The company says it normally sees seasonality in the business, with people signing up around the holidays with fresh resolutions and leaving later in the year. While down from the previous quarter, the 4.2 million subscribers is still a 25 percent increase from the 3.4 million subscribers the company had at the end of the third quarter last year. However, investors want to see WW deliver on its vision to keep customers longer.
"The market has been valuing [Weight Watchers] based on the trajectory of its membership trend and the deceleration in [the third quarter] suggests a lukewarm response in its share price is likely," UBS analyst Michael Lasser wrote in a note to clients.
For the full-year, the company narrowed its forecast to a range of between $3.15 and $3.25 per share from between $3.10 and $3.25 per share.