Month: September 2015

Google Inc. announced a new enterprise-focused tablet on Tuesday, the Pixel C, in an attempt to compete with Apple Inc.’s enterprise-grade 12.9-inch iPad Pro and Microsoft Corp.’s Surface Pro. Pixel C has a screen that measures 10.2 inches diagonally. It will retail for $499 when it hits stores shelves later this year, versus $799 for the iPad Pro. The tablet will run on Android Marshmallow and come compatible with a detachable keyboard, which can be purchased separately for $149. Also Read: Google unveils two new unlocked smartphones Also Read: Google launches new Chromecasts with support for Showtime, Sling TV and Spotify Also Read: Google launches $14.99 family plan for Play Music

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Google Inc. said it plans to launch a family plan for its Play Music subscription service later this year for $14.99 a month, covering up to six people. The company is also offering a three-month free trial for the music service with its new Nexus 5X and Nexus 6P smartphones. Apple Music offers a similar six-person family plan for $14.99.

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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Google Inc. introduced two new smartphones, the Nexus 5X with a 5.2-inch display, and Nexus 6P with a 5.7-inch screen, at a product event on Tuesday. Google will sell both as unlocked phones, which means they can be purchased directly from Google or a partner retailer and used at a wide variety of wireless carriers. Both phones will also be compatible with Google’s Project Fi WiFi service, and will utilize Android’s Marshmallow operating system and fingerprint technology. The Nexus 5X will retail for $379, and the Nexus 6P for $429, both with a $50 Google Play credit and a free three-month subscription to Google Music. The company reported 1.4 billion active Android devices and 1 billion monthly active users on Google Play. Shares of Google increased 0.3% to $626.06 in recent trade. They have risen 16% over the last three months, compared with a n 8.5% decline for the broader S&P 500.

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Shares of Micron Technology Inc. surged 3.4% in midday trade Tuesday, bouncing off a two-year closing low in the previous session, after the memory chip maker was upgraded to outperform from market perform at Wells Fargo. Analyst David Wong said while there are still “many near risks for Micron in particular and the memory industry in general,” he upgraded the stock because there is now “upside potential” to his valuation range. That range of $16 to $19 was 14% to 35% above Monday’s closing price of $14.06, which was the lowest close since Sept. 3, 2013. Meanwhile, Wong lowered his full-year 2015 earnings-per-share estimate to $2.31 from $2.38, and his 2016 estimate to $1.10 from $1.35, because of the decline in dynamic random-access memory pricing over the last few weeks. Micron’s stock has shed 22% over the past three months, while the PHLX Semiconductor Index has lost 14% and the S&P 500 has declined 8.5%.

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WASHINGTON (MarketWatch) — The Securities and Exchange Commission announced it will be holding its second meeting of its Equity Market Structure Advisory Committee. At the event scheduled for Oct. 27, the SEC said it will focus on Rule 610 of SEC Regulation NMS and the regulatory structure of trading venues. The SEC said the committee will discuss the impact of the access fees and rebates that are widely used by exchanges and other trading venues. In addition, the committee will discuss recent market volatility and any market structure issues it may have revealed, the SEC said. The first meeting, held in May, focused on order protection and market fragmentation. The Equity Market Structure Advisory Committee was formed amid concerns the stock market isn’t level.

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Tuesday Morning Corp.’s stock tumbled 19% in morning trade Tuesday, putting it on track for the lowest close in more than three years, after the abrupt retiring of the off-price retailer’s chief executive. The company said earlier that CEO Michael Rouleau was retiring, “effective immediately,” and that it will begin looking for candidates. The company didn’t name an interim CEO; it said Chairman Steven Becker will oversee strategic initiatives until a new CEO is appointed. The stock has now lost 60% over the past three months, and 75% year to date, and is headed toward the lowest close since Aug. 29, 2012. Meanwhile, the SPDR S&P Retail ETF has lost 8.7% year to date, and the S&P 500 has slipped 8.3%.

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Health-care stocks are leading the S&P 500’s rebound Tuesday with the sector poised to snap a seven-session losing streak. The sector, which includes biotech stocks, had come under intense pressure after several years of strong performance. “Biotech fundamentals are still OK but the market is very touchy,” said John Manley, chief equity strategist at Wells Fargo Advantage Funds. The health-care sector is up 1.6% with Vertex Pharmaceuticals Inc. jumping 5.2% and Biogen Inc. rallying 4.9%. The S&P 500 rose 0.3% to 1,887.

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Tesla Motors Inc. shares rebounded Tuesday after two sessions of losses ahead of the much-anticipated rollout of its Model X vehicle. The electric car maker will host a special event late Tuesday to unveil the falcon-winged model, which is more than a year behind schedule. Shares of Tesla were up 1.5% to $252.01 and up 13% year to date.

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Financial firms are capping an attempt at a rebound by the Dow Jones Industrial Average on Tuesday, a day after stocks suffered steep declines. Dow financial components Goldman Sachs , down 1%, Travelers Companies , off 0.6%, J.P. Morgan Chase & Co. , down 0.5%, and American Express , down 0.1%, were all trading in negative territory at one point during the session as the Dow climbed more than 100 points in morning trade. Goldman was helping shave about 10 points of the Dow’s gain. Only Visa Inc. was bucking the trend in financials to trade sharply higher, up 1.7%. Johnson & Johnson paced gainers of the Dow’s 30 components.

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McDonald’s Corp.’s stock climbed 1.6% in morning trade Tuesday after the fast food giant was upgraded to outperform from neutral at Credit Suisse. The firm has also raised McDonald’s price target to $112 from $100. Among the reasons for the upgrade, Credit Suisse cites an increase in global same-store sales that analysts believe will spread to the U.S., especially in the fourth quarter. The fast-food chain introduces all-day breakfast on October 6. Credit Suisse calls the U.S. business “the weakest link in the turnaround so far.” The firm is raising its fourth-quarter same-store sales estimate to 1.5% from 0.7%. The firm also believes McDonald’s stock will hit a “floor” in the low-$90 range, supported by the dividend, which represents at annual yield of 3.5% at current prices. McDonald’s stock is up 2% for the past three months.

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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