BUZZ-U.S. Stocks on the Move-Boston Beer, Audience, Japanese companies
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) The Dow industrials hit a record high on Friday as stocks rallied on Wall Street after the Bank of Japan significantly ramped up its stimulus program, just days after the Federal Reserve wound down its own package of U.S. economic incentives. The Dow Jones industrial average was up 1.01 percent at 17,369.88, the S&P 500 was up 0.94 percent at 2,013.49 and the Nasdaq Composite was up 1.26 percent at 4,623.866.
** BOSTON BEER CO INC, $246.75, +6.64 pct
The Boston-based brewer posted better-than-expected third-quarter profit and sales on Thursday due to lower-than-expected operating costs per barrel and double-digit growth in shipments.
Third-quarter net revenue was helped also by demand for limited-release Samuel Adams Harvest Pumpkin and Samuel Adams Fat Jack beers.
RBC Capital Markets raised its price target on the stock to $252 from $244.
** REGIONAL MANAGEMENT CORP, $11.74, -34.74 pct
The specialty consumer finance company's third-quarter earnings fell to $1.4 million, or 11 cents per share, from $7.2 million, or 56 cents per share, a year earlier. Continued...