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Facebook Inc. is changing its approach to virtual reality, which includes a change at the top for its VR unit, Oculus. The Facebook unit, which the social-networking giant acquired for $2 billion in 2014, will split into groups focused on personal computers and mobile, and the chief executive will step down from the top spot to lead the PC group. The Oculus Rift VR headset requires tethering to a powerful PC for its virtual worlds, but has shown off efforts toward a more mobile and wireless headset. “You do your best work when you love what you’re working on. If that’s not the case, you need to make a change,” outgoing Oculus CEO Brendan Iribe wrote in a blog post announcing the changes. “With this new role, I can dive back into engineering and product development.” A recent Oculus hire, Jon Thomason, will lead the mobile group, and Facebook Chief Technical Officer Mike Schroepfer will lead the search for a new Oculus CEO, Iribe wrote. Facebook shares were up about 3% in Tuesday afternoon trading.

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From:: Stock Market News

Shares of JetBlue Airways Corp. soared 6.7% toward a 10-month high in midday trade Tuesday, after the air carrier said it was doubling its share repurchase program, and as the company presented its 2017 outlook at its investor gathering. The company said it previously approved $250 million three-year stock buyback program was increased to $500 million, with the term extended to Dec. 31, 2019. So far this year, JetBlue said it bought about 5.4 million shares for $120 million. That implies a price of $22.22 per share for those repurchased, which is 4.5% below current prices. Separately, the company said it expects 2017 capacity growth in the 6.5%-to-8.5% range over last year, with most of the growth from the eastern U.S. (17.5% to 19.5%).

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From:: Stock Market News

The Federal Trade Commission ruled Tuesday that Mars Petcare Inc. mislead consumers by suggesting that its Eukanuba dog foods will increase the lifespan of dogs. The FTC said the ads which implied that with Eukanuba dogs will live 30% or more longer than their typical lifespan, and that the Eukanuba brand foods enable dogs to live exceptionally long lives, are “false or misleading or were not substantiated” at the time the representations were made. “Among other things, the evidence relied on by [Mars Petcare] for its representations concerning the Eukanuba brand dog food consisted primarily of results from a single study, the results of which showed no significant difference in the median age at death of the dogs in the study relative to the typical age at death of dogs of the same breed,” the FTC said in statement.

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From:: Stock Market News

Apple Inc. made its AirPods wireless headphones available to the public on Tuesday, nearly two months after first unveiling them at an event alongside the iPhone 7. The headphones, the answer to Apple’s removed headphone jack, which Apple marketing chief Phil Schiller referred to as the “entrée to a wireless future” at Apple’s flagship hardware event in September, have been mysteriously delayed for weeks. They were supposed to begin shipping in October. On Tuesday, they became available for online purchase for $159, with the current delivery times slated for Dec. 29. They’re scheduled to hit store shelves beginning next week, narrowly in time for the holidays. Apple did not say why it had put off their release, but a spokesperson told the Wall Street Journal last week that the company didn’t “believe in shipping a product before it’s ready.” Shares of Apple rose 1.6% to $115.04 on Tuesday. They’re up 6.5% in the past three months, compared with a 10% increase for the Dow Jones Industrial Average .

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