Brent crude futures LCOc1 were down 23 cents at $48.35 a barrel by 1535 GMT, some 4 percent below four-week highs above $50 hit two days earlier.
U.S. WTI crude futures CLc1 fell 55 cents to $45.77 a barrel, having lost 3 percent the day before.
“The difficulty right now for the market is being able to lift off from the current floor that it has found in the mid-$40s on a WTI basis,” BNP Paribas’ global head of commodity strategy Harry Tchilinguirian said.
“For that to happen, the market needs to see, at least directionally, some form of improvement, whether that translates into significantly lower production in the U.S. or at least much stronger refinery runs,” he said.
The discount in the price of oil for immediate delivery relative to that for delivery in a year, or contango, neared its largest in nearly two months this week, touching $7 a barrel.
Sprouts Farmers Market Inc (NASDAQ:SFM) was trading higher by 10.76% to $22.02. So far, around 3.78 million shares have changed hands in this session. After opening at $22.15, the stock hit as high as $22.82. However, it traded between $16.41 and $38.45 over the last twelve months. Sprouts Farmers Market Inc (NASDAQ:SFM) reported results for the 13-week third quarter ended September 27, 2015. The company also announced that its Board of Directors has authorized the company to repurchase, on a discretionary basis, up to $150 million of its outstanding common stock over the next two years.
Third Quarter Highlights:
Net sales of $903.1 million; an 18% increase from the same period in 2014.
Comparable store sales growth of 5.8% and two-year comparable store sales growth of 14.9%.
Net income of $32.0 million and diluted earnings per share of $0.21.
Adjusted net income of $32.6 million; a 19% increase from the same period in 2014.
Adjusted diluted earnings per share of $0.21; a 17% increase from the same period in 2014.
Adjusted EBITDA of $73.5 million; a 12% increase from the same period in 2014.
Increased guidance for 2015 and revised mid-term financial targets.
Pandora Media Inc (NYSE:P) was at $12.55, showing a 6.54% increase. Around 6.94 million shares have been traded, versus an-average trading volume of 8.39 million shares. Pandora Media Inc (NYSE:P) the world’s most powerful music discovery platform, announced that the company’s Chief Financial Officer, Mike Herring, will present at the Wells Fargo Securities Technology, Media and Telecom Conference, the RBC Capital Markets’ Technology, Internet, Media and Telecommunications Conference, and the UBS Global Technology Conference.
Mr. Herring will engage in a fireside chat at the Wells Fargo Securities Technology, Media and Telecom Conference on Tuesday, November 10, 2015 at 6:20 a.m. PT / 9:20 a.m. ET in New York, NY.
Kate Spade & Co (NYSE:KATE) shares rise today, gaining 7.95 per cent to $21.31. Around 5.47 million shares changed hands so far in this session compared to an-average trading volume of 2.59 million shares. Kate Spade & Co (NYSE:KATE) announced plans to open a new kate spade new york store on London’s Regent Street. As the brand continues to expand internationally, this store marks kate spade new york’s fourth specialty store in the United Kingdom.
“We remain focused on our two key axes of growth – geographic expansion and product category expansion – and selected the Regent Street location based on customer demand and existing success in this market,” said Craig Leavitt, Chief Executive Officer of Kate Spade & Company. “This progress further establishes our foothold in the European region as we move toward our vision of becoming a powerful, global, multichannel lifestyle brand.”