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New York Yankees legend Yogi Berra died late Tuesday, the Yogi Berra Museum said in a tweet early Wednesday. “It is with heavy hearts that we share the news that Yogi Berra passed away Tuesday night at the age of 90,” said the message on Twitter from the non-profit center.
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.
From:: Stock Market News
Your window unit has worked hard all summer to keep you cool. Return the favor with a little end-of-season TLC …read more
From:: DIY this old house
U.S. stock futures fell sharply in early trading on Wednesday, on the heels of data showing a preliminary measure of Chinese factory output in September at the lowest since the financial crisis. Futures for the Dow industrials dropped 147 points, or 0.9%, to 16,082, while those for the S&P 500 index [s:esz5] fell 18.35 points, or 0.9%, to 1,913.50. Futures for the Nasdaq 100 index slid 40.50, or 0.9%, to 4,226.75. U.S. stocks closed sharply lower on Tuesday as a slump in commodity prices fueled concerns over slowing global growth. “The Fed’s decision to keep the base rate unchanged last week has left an aura of doubt with matters not helped by continuing weakness in China,” wrote Jonathan Sudaria, dealer at London Capital Group. WTI oil futures fell 50 cents to $46.13.
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.
From:: Stock Market News
Turing Pharmaceuticals will reduce the cost of a drug after jacking up the price more than 5,000% and attracting the ire of presidential candidate Hillary Clinton and others. Chief Executive Martin Shkreli confirmed in an interview with NBC News late Tuesday that he will lower the price of Daraprim, a treatment for a specific infection that can strike those with compromised immune systems, such as AIDS and cancer patients. Shkreli increased the price from $13.50 to $750 a pill after acquiring the medication from Impax Laboratories Inc. last month. The New York Times publicized the move in a Sunday article highlighting the habit of buying older drugs and drastically increasing the prices, leading to a vocal backlash from Democratic presidential candidate Clinton and others. “I think that it makes sense to lower the price in response to the anger that was felt by people,” Shkreli told NBC News, though he did not say what the new price would be.
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.
From:: Stock Market News
By Mark Calvey
The City of Oakland said Tuesday that it sued Wells Fargo over allegations of predatory lending.
The federal lawsuit alleges that Wells Fargo targeted Oakland’s African-American and Hispanic residents, along with minority churches and congregations, for loans that were more expensive and higher risk than those regularly made to white borrowers.
“Wells Fargo’s discriminatory conduct devastated individuals and communities, increasing poverty and wiping out or drastically reducing wealth for minority… …read more
From:: biz journal foreclosures
Instagram, the Facebook Inc. photo-sharing application, announced in a blog post Tuesday that it has passed 400 million users. The announcement comes less than a year after the service announced that it had topped 300 million users, and Instagram said that more than half of the last 100 million users to join the service live in Europe or Asia. The user number can’t compare to Instagram’s parent company — Facebook reported 1.49 billion monthly active users in its most recent quarterly earnings report — and also comes in behind two other Facebook mobile properties, WhatsApp and Messenger. Facebook shares fell 2.7% Tuesday to close at $92.96.
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.
From:: Stock Market News
Chief Executive James Squires was named chairman of Norfolk Southern Corp.’s board Tuesday to replace Charles Moorman, who is retiring effective Oct. 1. Squires joined Norfolk Southern in 1992 and was named CEO in March. Moorman will continue to serve as a director and an adviser to the CEO until Dec. 31. The railroad separately announced Chief Operating Officer Mark Manion will retire on Feb. 1. There was no immediate announcement on his replacement. Shares of Norfolk Southern fell 2.7% to close at $77.43 and were inactive in after-hours trade.
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From:: Stock Market News
Heron Therapeutics Inc. shares soared in the extended session Tuesday after the biotech said a mid-stage clinical study showed one of its products significantly lowered pain following bunion removal surgery. Shares of Heron jumped 29% to $43.43 on heavy volume. Heron said a clinical study of its anesthetic and anti-inflammatory drug HTX-011 administered through the company’s Biochronomer drug delivery technology significantly reduced pain in patients following bunion removal surgery compared with placebo.
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From:: Stock Market News
The American Petroleum Institute late Tuesday reported that crude supplies dropped 3.7 million barrels for the week ended Sept. 18, according to sources. Analysts polled by Platts forecast a decline of 700,000 barrels. November crude was at $46.60 a barrel on Globex, up from the contract’s settlement of $46.36 on the New York Mercantile Exchange. The more closely watched Energy Information Administration report is due Wednesday.
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.
From:: Stock Market News
