Author: admin

Starz, owned by Lions Gate Entertainment Corp. , said on Tuesday that it agreed to a new multi-year carriage deal with Altice USA Inc. . Lions Gate shares were up more than 5% during intraday trade on Tuesday. The deal gives Altice’s Optimum and Suddenlink cable systems access to Starz and Starz Encore full suite of linear channels, as well as on-demand and online services. Lions Gate shares have declined more than 5% in the last 12 months, while the S&P 500 index is up more than 14% and the Dow Jones Industrial Average is up nearly 21%. Altice USA shares began trading in June and are down more than 9% in the last 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.

…read more

From:: Stock Market News

Xerox Corp. said Tuesday the allegations made in the lawsuit filed by shareholder Darwin Deason were “without merit,” and said it will “vigorously defend itself.” Deason said earlier that he was suing Xerox and its board member, and Fujifilm, in an effort to block the deal in which Fujifilm acquires a controlling stake in Xerox, alleging an “improper and fraudulently” concealed lockup agreement that Xerox entered into with Fujifilm 17 years ago that was never disclosed to shareholders. “It is unfortunate that Mr. Deason is seeking to interfere with Xerox shareholders’ right to decide and is relying on meritless legal claims,” Xerox stated in its response Tuesday. “Xerox has fully disclosed the joint venture agreements, and the company will respond to Mr. Deason’s legal claims through the appropriate legal channels in due course.” Xerox’s stock was down 1.7% in midday trade. It has gained 1.4% the past 12 months, while the S&P 500 has climbed 13.8%.

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.

…read more

From:: Stock Market News

T. Rowe Price Group Inc. said Tuesday it will raise its quarterly dividend by 23% to 70 cents a share from 57 cents a share. The investment management company’s stock swung to a gain of 0.1% in midday trade, after being down as much as 1.6% earlier in the session. The new dividend will be payable March 29 to shareholders of record on March 15. At current share prices, the new annual dividend rate implies a dividend yield of 2.67%, above the implied S&P 500 dividend yield of 1.92%, according to FactSet. T. Rowe Price’s stock has lost 5.9% so far this month, but has rallied 12.4% over the past three months, while the S&P 500 has shed 6.2% in February but has gained 2.4% 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.

…read more

From:: Stock Market News

The Dow Jones Industrial Average is down 94 points in midday trade Tuesday, but has so far traded in the narrowest intraday range in three weeks, or since before the recent selloff began. The Dow’s intraday range is just 148.15 points, the narrowest since the 102.19-point intraday range on Jan. 23, which was three days before the Dow’s Jan. 26 record close of 26,616.71. On a percentage basis, the intraday swing has been 0.61%, also the smallest range since Jan. 23’s 0.39%. Despite the Dow’s narrow range, the CBOE Volatility Index is up 2.2%. So far on Tuesday, the Dow was down 32.09 points at its intraday high of 24,569.18 and down 180.24 points at its intraday low of 24,421.03. Des

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.

…read more

From:: Stock Market News

Shares of Xerox Corp. slumped 2.4% in morning trade Tuesday, after Darwin Deason, who he says is the document management company’s third-largest shareholder, sued Xerox and its current board members, Xerox’s former Chief Executive Ursula Burns and Japan’s Fujifilm Holdings Corp. in an effort to block the deal in which Fujifilm acquires a controlling stake in Xerox. Deason alleges in his complaint that The Xerox-Fujifilm deal, which was announced on Jan. 31, is a result of an “improper and fraudulently concealed ‘crown jewel’ lock-up agreement that Xerox entered into with Fuji 17 years ago, that was never disclosed to Xerox’s shareholders before the signing of the Xerox/Fuji transaction.” Deason said his objective is to enjoin the transaction, terminate the Xerox/Fuji lock-up agreements and seek “strategic alternatives” for Xerox. The stock has now shed 14.3% so far this month, while the S&P 500 has lost 6.3% and Fujifilm’s Japan-listed shares have gained 3.0%.

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.

…read more

From:: Stock Market News

Shares of Dare Bioscience Inc. plummeted 41% toward a record low Tuesday, enough to make them the day’s biggest decliners on major U.S. exchanges, after the biopharmaceutical company announced a public stock offering. The second-biggest decliners were shares of Helios & Matheson Analytics Inc. , which plunged 29% after an equity offering. Dare said it was raising $10.25 million with its offering, which included 5.0 million common shares and warrants to buy 3.5 million common shares. That could potentially more than double the number of shares outstanding, which totaled 6.05 million shares as of Nov. 6. Dare’s stock has now tumbled 89.3% over the past 12 months, while the S&P 500 has gained 13.5%.

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.

…read more

From:: Stock Market News

Instinet analyst Jeffrey Kvaal wrote Tuesday that he sees “new drivers brewing” for Apple Inc. , even as iPhone X demand seems to be falling short of the company’s initial expectations. In a note to clients, Kvaal argued that the “era of supercycle may be over,” but he’s optimistic about the potential for secondhand phone sales to continue growing the company’s installed base. He noted that Apple’s base did in fact grow during the latest quarter, which to him “implies services – and perhaps the Watch – can emerge as meaningful drivers by ~2020.” Kvaal believes that the services business could account for more than a third of the company’s overall gross profit dollars by 2020. Still, he kept his neutral rating on the stock. Apple shares are down 0.2% in Tuesday morning trading and up 22% over the past 12 months. The Dow Jones Industrial Average has gained 20% in that 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.

…read more

From:: Stock Market News

U.S. stock benchmarks point to a modestly lower open on Tuesday. The Dow Jones Industrial Average was 170 points, or 0.7%, lower at 24,448, while the S&P 500 index slipped 15 points, or 0.5%, to 2,642. The Nasdaq Composite Index gave up 31 points, or 0.4%, at 6,952. The main benchmarks are threatening to halt two consecutive days of advances as stocks struggle to recover from its worst week in about two years. Investors have also been weighing a Federal budget that U.S. President Donald Trump has proposed as well as an infrastructure proposal. Looking ahead, Wall Street investors are awaiting key readings of inflation on Wednesday and Thursday. In corporate news, shares of AmerisourceBergen Corp. rose sharply after reports that Walgreens Boots Alliance Inc. has made an offer to buyout the drug distributor.

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.

…read more

From:: Stock Market News

Caterpillar Inc. said Tuesday that rolling 3-month retail sales, through January, of total machines rose 34% on a global basis, with growth in all regions including a 23% rise in North America. Among the machines segments, global resource industries sales jumped 49% and construction industries sales increased 30%. In North America, resource industries sales rose 38% and construction industries sales grew 22%. Total energy and transportation retail sales rose 16%, with power generation sales up 8%, industrial sales rising 13%, oil and gas sales up 27% and transportation sales unchanged. Caterpillar’s stock fell 0.7% in premarket trade, while Dow Jones Industrial Average futures fell 152 points, or 0.6%. Over the past three months, Caterpillar shares have run up 11.5% while the Dow has gained 5.0%.

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.

…read more

From:: Stock Market News