Month: September 2015

U.S. stocks ended broadly lower Wednesday, wiping out early gains after strong data on job openings stoked fears the Federal Reserve could move to hike interest rates as early as next week. Based on preliminary numbers, the Dow Jones Industrial Average ended with a loss of 239.11 points, or 1.4%, at 16,253.57 after posting triple-digit gains in early trade. The S&P 500 fell 27.36 points, or 1.4%, to finish at 1,942.05, while the Nasdaq Composite dropped 55.40 points, or 1.2%

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Ride-hailing company Uber said Wednesday that it will give $5.5 million to Carnegie Mellon University to support a new robotics faculty chair and three fellowships. The move comes after Uber poached 40 researchers from the University’s National Robotics Engineering center earlier this year to build driverless cars. Uber and Carnegie Mellon formed a strategic partnership in February in which Uber said it would fund some Carnegie Mellon positions and work with staff. Uber has established a research center in Pittsburgh, home of Carnegie Mellon.

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Pacific Sunwear of California Inc. is another surf-influenced-apparel retailer to see its stock plunge to penny-stock territory on Wednesday, after the company disclosed late Tuesday that it received a delisting notice from the Nasdaq, and reported an adjusted loss per share for an eighth-straight quarter, and 19th in the last 20 quarters. The stock plummeted 37%, putting it on track to close at the lowest price since it went public in March 1993. Volume of 7.1 million shares is about 12 times the full-day average, according to FactSet. The company said in a regulatory filing late Tuesday that the Nasdaq’s delisting notice was because the stock has not equaled $1 at least once for 30-straight days. The company has 180 days–until Feb. 29, 2016–to regain compliance. The company said in the same filing that its chief financial officer, Michael Kaplan, has left the company. It named Controller Chris Tedford as interim CFO effective Tuesday. Back in June, the company said it had enough cash available, including through a credit facility, to fund operations for another 12 months. Pac-Sun’s stock plunge happens on the same day fellow surf-apparel retailer Quiksilver Inc. declared bankruptcy. The stock remains halted, and will be delisted from the Nasdaq following the bankruptcy filing; it traded below 10 cents a share overnight before the halt.

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WASHINGTON (MarketWatch) – Federal Reserve officials aren’t near an agreement to begin raising interest rates as they head into a week of private talks before their Sept. 16-17 meeting, according to Jon Hilsenrath in the Wall Street Journal. Recent remarks in interviews and elsewhere showed divisions and uncertainty about whether to move as soon as next week though officials appear to remain on track to raise rates this year, the report said.

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Apple Inc. announced the iPhone 6s and iPhone 6s Plus Wednesday, which CEO Tim Cook called “the most advanced smartphones in the world.” The phones feature a new technology called 3D Touch, which will recognize force, enabling new gestures by users, and pop up whatever part of the screen is pressed. The new phones come in two sizes, 4.7 inches for the iPhone 6s and 5.5 inches for the iPhone 6s Plus. It comes in silver, gold, space gray and the new rose gold. Read more on the live blog.

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Amazon.com Inc. has discontinued sales of its so-called Fire Phone, according to The Verge. The Verge said Amazon has depleted its inventory and has no plans to offer more of the smartphone, which was unveiled to much fanfare last year in June. According to The Verge, the discontinuation of the device does not mean that Amazon may not re-enter the smartphone market at some point. The 3D-enabled Fire Phone, which was offered through AT&T’s network exclusively, was Amazon’s foray into the smartphone world dominated by the likes of Apple Inc. . However, Amazon’s device met with lackluster sales, according to reports. Amazon did not immediately respond to an email requesting comment. Reports of the end of Amazon’s smartphone comes as the Seattle online retailer has made a bid to lure buyers by making its tech offerings more attractive priced. It announced a $50 tablet yesterday, half the price of its lower-tier tablet. Shares of Amazon were up 4.1% in late-afternoon trade Wednesday.

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Apple Inc. announced a new Apple TV Wednesday with a Siri capable and glass-touch remote, allowing the user to choose a TV show by speaking. With the Siri capabilities, the TV will search through apps such as Netflix , Showtime , Hulu and HBO for the show the user is looking for and give information on screen such as game scores or weather. The glass-touch remote allows the user to swipe, rather than push the buttons. Apple redesigned its apps, introduced a new developing app platform called TV OS apps and brought Apple music to the TV. “We believe the future of television is apps,” CEO TIm Cook said. Read more on the live blog.

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The yield on the 10-year Treasury note declined Wednesday afternoon as a selloff in Apple shares dragged down U.S. equities. The yield was recently at 2.194%, up 0.1 basis point on the day. Earlier, the yield rose to a session high of 2.254%, its highest level in five weeks.

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Gold futures fell on Wednesday as a climb in stock markets overseas and strength in the U.S. dollar helped pressure prices for the metal to their lowest settlement level in about a month. December gold settled at $1,102 an ounce on Comex, down $19, or 1.7%. That was the lowest settlement since Aug. 7.

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Apple Inc. unveiled a new iPad Wednesday, called the iPad Pro, that CEO Tim Cook said was the ‘most capable and powerful’ yet. The iPad has the biggest screen so far, at 12.9 inches on a diagonal, with 5.6 million pixels, more than a Macbook Pro. The chip inside it is a new A9X chip, with a 64 bit chip, meaning two times the memory and storage and faster speeds. It has a 10-hour battery life and is 6.1 mm thin. So far in the event, Apple has unveiled a release date of Sept. 16 for Apple Watch i0S 2 and integrations with apps such as GoPro and Facebook Messenger . Read more on the live blog.

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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From:: Stock Market News