Papa John’s CFO departs for Jack in the Box

Papa John’s International Inc. Chief Financial Officer Lance Tucker is leaving the company March 2, to take the CFO job at Jack in the Box Inc. , Papa John’s said late Tuesday. Papa John’s stock was down 3.3% to $58.45 after hours. Tucker’s exit follows former Chief Executive John Schnatter’s decision to resign the top boss position as of Jan. 1. Papa John’s president Steve Ritchie replaced Schnatter in the CEO spot. Papa John’s stock has lost 29% in the past 12 months, as the S&P 500 index rose 23%.

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Celgene in talks to buy Juno Therapeutics: report

Celgene Corp. is in talks to buy Juno Therapeutics Inc. , according to a report on The Wall Street Journal Tuesday that cited unnamed sources. Juno is a biotech company developing cancer treatments. Juno stock soared more than 30% in late trading Tuesday and ended the regular trading day down 6.5%. Celgene shares rose 1% and closed the regular session down 1.1%. Celgene earlier this month released preliminary fourth-quarter and full-year 2017 results and provided a downbeat outlook for 2018. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Boeing, Adient form JV to build airplane seats

Boeing Co. and Adient Plc said Tuesday they formed a joint venture, Adient Aerospace, to develop, manufacture, and sell airplane seats. “Seats have been a persistent challenge for our customers, the industry and Boeing, and we are taking action to help address constraints in the market,” Kevin Schemm, a vice president at Boeing, said in a statement. The seats will be available for new planes as well as retrofit configurations, the companies said. Adient is primarily a maker of seating for the auto industry. The new joint venture headquarters and plant will be located near Frankfurt, Germany. Adient is the majority stakeholder, with 50.01% share, with Boeing the 49.99% partner. Shares of Boeing rose 0.1% in late trading after ending the regular session down 0.3%; Adient shares fell 2.7% in after hours after ending the regular trading day down 0.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Calpers board elects first female president, Priya Mathur

California Public Employees’ Retirement System, or Calpers, elected Priya Mathur as board president, the first woman to hold the elected position, the agency said late Tuesday. Mathur joined the board of the $358 billion fund in 2002 and has represented public employees, serving on four committees. In addition to her work at Calpers, which is the largest defined public-benefit pension in the U.S., Mathur is principle financial analyst for the Bay Area Rapid Transit District. Calpers also elected Rob Feckner as vice president; Feckner has served as the board president in the past. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Exelixis, Ipsen report positive cancer-study results

Exelixis Inc. and Ipsen said Tuesday that a cancer drug achieved its target in a late-stage study and will be submitted to the Food and Drug Administration before the end of the quarter. The companies said that its cabozantinib drug helped patients with advanced hepatocellular carcinoma survive a median 2.2 months longer than patients who received placebos in a phase 3 trial. “Given the worldwide prevalence of advanced hepatocellular carcinoma, there is a continued urgency to bring new treatment options to this patient population,” Exelixis Chief Medical Officer Gisela Schwab said in Tuesday’s announcement. “We look forward to submitting our supplemental New Drug Application to the FDA for cabozantinib in the first quarter of 2018.” The companies plan to present the results at a symposium in San Francisco later this week, and will hold a webcast meant for investors Friday evening. Exelixis shares were halted ahead of the announcement, and gained about 2% in after-hours action after they began trading again at 5:30 p.m. Eastern time.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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U.S. stock rally sputters as Dow fails to hold 26,000

Stock indexes shed their earlier gains on Tuesday to end slightly below break-even levels. The S&P 500 fell 10 points, or 0.3%, to 2,777, according to preliminary figures. The Dow Jones Industrial Average declined 10 points to 25,793. The Nasdaq Composite Index was down 37 points, or 0.5%, to 7,234. The Dow gave up most of its advance that had taken the blue-chip index above 26,000 for the first time. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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CSX shares rise after railroad company’s earnings beat expectations

Shares of CSX Corp. rose 1.5% late Tuesday after the railroad company reported adjusted earnings above Wall Street expectations. CSX said it earned $4.1 billion, or $4.62 a share, in the fourth quarter, compared with $458 million, or 49 cents a share, in the year-ago period. The net earnings included a $3.6 billion tax reform benefit and a $10 million restructuring charge, the company said. Adjusted for these and other items, CSX earned $573 million, or 64 cents a share. Sales reached $2.86 billion, from $3.04 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 56 cents a share on sales of $2.88 billion. The stock ended the regular trading session down 1.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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