U.S. stock funds post near $4 billion outflow: Lipper

(Reuters) – U.S. equity funds shed $3.98 billion in the week ended Wednesday, according to data released by Lipper on Thursday.

U.S.-based taxable bond funds attracted $6.3 billion, the eleventh straight weekly inflow, while U.S. money market funds attracted $17.7 billion, the Lipper data showed.

Lindsey Graham to introduce resolution condemning Democrats’ ‘illegitimate’ impeachment probe

WASHINGTON (AP) — GOP Sen. Lindsey Graham, a top ally of President Donald Trump, is introducing a resolution condemning the Democratic-controlled House for pursuing a “closed door, illegitimate impeachment inquiry.”

Graham announced the move Thursday and says the Senate’s top Republican, Mitch McConnell, is a co-sponsor. Graham plans a Thursday afternoon news conference.

The nonbinding resolution gives Senate Republicans a chance to show support for Trump at a moment when Trump is urging his GOP allies to get tougher and fight harder for him as the House impeachment probe gathers momentum.

Many Senate Republicans are taking a wait-and-see approach amid the House impeachment inquiry. Rather than commenting on the substance of the probe, they are united in complaining that the House is taking depositions from witnesses behind closed doors.

Power Integrations Inc. Q3 adjusted earnings Beat Estimates

Power Integrations Inc. (POWI) reported earnings for third quarter that declined from the same period last year.

The company’s profit totaled $17.10 million, or $0.57 per share. This compares with $17.67 million, or $0.59 per share, in last year’s third quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $23.26 million or $0.78 per share for the period.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 3.7% to $114.16 million from $110.09 million last year.

Power Integrations Inc. earnings at a glance:

-Earnings (Q3): $23.26 Mln. vs. $23.17 Mln. last year.
-EPS (Q3): $0.78 vs. $0.77 last year.
-Analysts Estimate: $0.75
-Revenue (Q3): $114.16 Mln vs. $110.09 Mln last year.

Kering Q3 Sales Up 14.2%

French luxury goods company Kering SA (PPRUY.PK,PPRUF.PK), Thursday reported third-quarter sales of 3.88 billion euros, up 14.2% from 3.40 billion euros last year. On a comparable basis, sales were up 11.6 percent.

Among brands, Gucci sales climbed 13.3 percent to 2.37 billion euros, Yves Saint Laurent rose 13.3 percent to 506.5 million euros, Bottega Veneta gained 9.8 percent to 284.3 million euros, and other brands rose 18.6 percent to 612.3 million euros.

“We achieved another strong quarter, and all our segments contributed to our solid top-line gain. Our progress, on top of considerable expansion in the past two years, is healthy and well balanced across all Houses. We are consolidating our growth trajectory, and carrying out continuous, targeted operating investments. We live in an increasingly complex world, but we are fully confident in our capacity to deliver sustained performances over time,” said CEO François-Henri Pinault.

Proofpoint shares drop after earnings, revenue beat

Proofpoint Inc. PFPT, +2.51% shares fell 6.8% in the extended session Thursday after the company beat revenue and earnings expectations. The company reported third-quarter net losses of $41.9 million, or 79 cents a share, compared with losses of $36.1 million, or 69 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation, earnings were 49 cents a share. Revenue rose to $227.4 million from $184.2 million in the year-ago period. Analysts surveyed by FactSet had estimated 39 cents a share on revenue of $224.3 million. For the fourth quarter, analysts model adjusted earnings of 48 cents a share on sales of $238.4 million. Proofpoint said it expects adjusted earnings of 47 cents to 50 cents a share and sales of $237.5 million to $239.5 million. Proofpoint stock has gained 49% this year, with the S&P 500 index SPX, +0.19% rising 20%.

Carmax promotes treasurer Mayor-Mora to CFO

Carmax Inc. KMX, +0.52% said that it promoted Enrique Mayor-Mora, who has served as Carmax’s treasurer since 2016, to vice president and chief financial officer. Tom Reedy, who has served as CFO since 2010, will become executive vice president of finance, the used-car retailer said in a statement. Mayor-Mora will continue to report to Reedy. Shares of Carmax were flat in the extended session after ending the regular trading day up 0.5%.

Pebblebrook Hotel Trust Adjusts 2019 Outlook – Quick Facts

Pebblebrook Hotel Trust (PEB) announced, for fiscal 2019, the company now projects adjusted FFO per share in a range of $2.57 to $2.60 (midpoint down $0.06). Same-Property RevPAR growth rate is anticipated to be in a range of 0.6% to 1.2% (midpoint down 60 bps).

For the third-quarter, adjusted FFO per share was $0.77, up 4.1 percent from last year. Same-Property total RevPAR declined 1.0 percent from prior year.

“During the third quarter, our overall performance versus our expectations was impacted by weaker performance in San Diego, Los Angeles, San Francisco and Washington, D.C.,” said Jon Bortz, CEO of Pebblebrook Hotel Trust.

Republican presidential challenger Weld says he’d vote for Biden over Trump ‘in a heartbeat’

HANOVER, N.H. — One of President Donald Trump’s Republican challengers says he’d vote for Joe Biden “in a heartbeat” against Trump in the 2020 general election.

Former Massachusetts Gov. Bill Weld says, “Could I vote for a Democrat? Hell yes. If it’s Trump against Joe Biden, I’m with Biden in a heartbeat.”

Weld’s comments came during an appearance at the CITIZEN by CNN conference. He was joined onstage by former South Carolina governor and congressman Mark Sanford and former Illinois congressman Joe Walsh. They are also seeking the Republican presidential nomination against Trump.

Weld says he’d never support Trump “for any office under any circumstances” but could “very well” support a third-party candidate.

If the matchup were Trump against Massachusetts Sen. Elizabeth Warren, Weld says, “I suppose I’d rather have her, with a couple of modifications in her platform.”

Sanford and Walsh both said Warren is the toughest Democratic opponent for Trump at the moment.

“I think she’s articulate and bright and quick,” Sanford said.

“She’s got the energy and the fire,” Walsh said.

Weld said Trump’s strongest opponent is Biden because “he’s a lunch-pail Democrat. He’s a good guy. He’s a centrist, and Trump is not going to be able to play the socialism card against him.”