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Cirrus Logic Inc.’s stock soared 5.8% in morning trade to a record high, amid signs of stronger-than-expected demand for it’s largest customer’s–Apple Inc.–new smartphone. The stock has run up 12% in four sessions, in line with the rally in Apple shares over the same time. Cirrus said in its fiscal first-quarter filing with the Securities and Exchange Commission that Apple represented 68% of its total sales for the quarter. Cirrus’s stock has soared 83% year to date, while Apple shares have climbed 9.3%, the SPDR Technology Select Sector ETF has rallied 10% and the S&P 500 has gained 4.4%.

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

Amazon.com Inc. said Thursday that it will open its largest wind farm in Texas in late 2017. The Scurry County, Tex. facility will be a 253-megawatt wind farm that can generate 1,000,000 megawatt hours of wind energy each year using 100 turbines. Lincoln Clean Energy has been contracted to construct, own and operate the wind farm, with Amazon purchasing 90% of the power it generates. Amazon has previously announced wind and solar farms in Indiana, North Carolina, Ohio and Virginia, which deliver energy that powers current and future Amazon Web Services cloud data centers. Together, all five projects generate enough energy to power 240,000 U.S. homes, the company said. Amazon shares are up 0.1% in Thursday trading, and up nearly 46% for the past year. The S&P 500 Index is up nearly 8% for the last 12 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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From:: Stock Market News

WASHINGTON (MarketWatch) — Business inventories were steady in July, to keep the ratio of sales to inventories at a high 1.39. The Commerce Department said inventories fell most aggressively for general merchandise stories, while they rose for building materials and garden equipment retailers.

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

U.S. stocks fluctuated between gains and losses at the open on Thursday after a spate of lackluster U.S. economic data constrained gains. Stock futures trimmed their advance after the data, as a larger-than-expected drop in sales at U.S. retailers stoked worries about the strength of the consumer. The data revealed a larger-than-expected decline in sales, stoking worries about the strength of the U.S. consumer. The S&P 500 index shed 2 points, or 0.1%, to 2,124. The Dow Jones Industrial Average was essentially flat at 18,030. The Nasdaq Composite Index climbed 8 points, or 0.2%, to 5,182.

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

Merck & Co. Inc. and Pfizer Inc. said Thursday a Phase 3 study of ertugliflozin, an investigational oral treatment for type 2 diabetes, met its primary endpoint. The drug giants plan to submit a new drug application for ertugliflozin by the end of 2016, and regulatory submissions overseas in 2017. “Type 2 diabetes is a progressive disease and these study results help support the clinical profile of ertugliflozin as an add-on therapy for patients who may require multiple treatment combinations to help reach their blood sugar goals,” said James Rusnak, chief development officer in cardiovascular and metabolics at Pfizer. Shares of Merck were still inactive in premarket trade and Pfizer’s tacked on 0.1%. Year to date, Merck’s stock has run up 16% and Pfizer shares have advanced 5.1%, while the SPDR Health Care Select Sector ETF has slipped 0.6% and the Dow Jones Industrial Average has tacked on 3.5%.

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.

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From:: Stock Market News

Merck & Co. Inc. and Pfizer Inc. said Thursday a Phase 3 study of ertugliflozin, an investigational oral treatment for type 2 diabetes, met its primary endpoint. The drug giants plan to submit a new drug application for ertugliflozin by the end of 2016, and regulatory submissions overseas in 2017. “Type 2 diabetes is a progressive disease and these study results help support the clinical profile of ertugliflozin as an add-on therapy for patients who may require multiple treatment combinations to help reach their blood sugar goals,” said James Rusnak, chief development officer in cardiovascular and metabolics at Pfizer. Shares of Merck were still inactive in premarket trade and Pfizer’s tacked on 0.1%. Year to date, Merck’s stock has run up 16% and Pfizer shares have advanced 5.1%, while the SPDR Health Care Select Sector ETF has slipped 0.6% and the Dow Jones Industrial Average has tacked on 3.5%.

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.

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From:: Stock Market News

WASHINGTON (MarketWatch) – The U.S. current-account deficit, a measures of the nation’s debt to other countries, sank 9.1% in the second quarter to $119.9 billion, the government said. The decline mostly stemmed from an increase in investment in U.S. assets such as stocks and bonds. The current account reveals if a country is a net lender or debtor. The current account deficit was 2.6% of GDP in the second quarter. That’s down from 2.9% in the first quarter and well below a record of 6.3% in 2005. The current-account deficit in the first quarter was revised up to $131.8 billion from $124.7 billion.

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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Shares of Goodyear Tire & Rubber Co. surged 3.5% in premarket trade Thursday, after the tire company boosted its quarterly dividend by 43%. The new dividend of 10 cents a share, up from 7 cents a share, will be payable Dec. 1 to shareholders of record on Nov. 1. Based on Wednesday’s closing price for the stock of $30.81, the new annual dividend implies a dividend yield of 1.30%, compared with the aggregate S&P 500 dividend yield of 2.15%, according to FactSet. The dividend hike is part of Goodyear’s capital allocation plan, which includes capital expenditures, debt repayment, shareholder returns and restructuring of up to $4 billion. The stock has lost 5.7% year to date through Wednesday, while the S&P 500 has gained 4%.

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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Dollar General Corp. said Thursday it is planning to hire 10,000 new employees by Oct. 15 to support store openings and fill other vacancies. The retail chain said it will host 600 local hiring events through Sept. 24, where interested parties can meet with local store managers. The jobs include full-time and part-time positions, from store managers to sales associates. Applications must be made online at www.dollargeneral.com/careers. Shares were not yet active in premarket trade, but are up 0.5% in the year to date, underperforming the S&P 500 , which is up 4%.

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