Author: admin

Shares of JetBlue Airways Corp. jumped 3.4% in premarket trade Wednesday, after the air carrier reported monthly traffic growth that outpaced capacity growth for the first time in five months. June traffic increased 11.6% to 3.95 billion revenue passenger miles while capacity grew 10.5% to 4.59 billion available seat miles. That pushed June load factor up to 86.2% from 85.3%, the first increase since January. The company said preliminary June revenue per available seat mile (RASM) declined by about 4.5%. Including Wednesday’s premarket gain, the stock was trading up 23% since it closed at a 17-month low of $15.15 on June 27. Year to date, it has tumbled 20% through Tuesday, while the NYSE Arca Airline has gained 2.3% and the S&P 500 index has tacked on 5.3%.

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

Healthcare IT security company Imprivata said Wednesday it has agreed to be acquired by private-equity firm Thoma Bravo, in a deal valued at about $544 million. Thoma Bravo will pay $19.25 per Imprivata share in cash, equal to a 33% premium over Imprivata’s closing price Tuesday. Imprivata shares were halted for news pending, but are up 28% in the year so far, while the S&P 500 has gained 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

Shares of Pandora Media Inc. surged 3% in premarket trade Wednesday after the stock was upgraded to overweight from neutral and its 12-month price target raised to $18 from $12 at PiperJaffray. The upgrade reflects optimism regarding the potential outcome of music label negotiations, improving margins across the radio business and the upcoming release of a new on-demand platform that could add an incremental 9.2 million subscribers or roughly $750 million in revenue over the next three years, according to PiperJaffray analyst Stan Meyers. “Pandora is approaching the inflection point,” he said. “We see meaningful upside ahead.” The average rating on the stock is the equivalent to buy, while the median price target among a poll of nearly 30 analysts surveyed by FactSet is $14.17. Shares of Pandora were on track to open around $13.44 on Wednesday.

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

Aberdeen Asset Management PLC said Wednesday that investors may resume trading in its £3.2 billion ($4.25 billion) U.K. property fund, lifting a suspension that was imposed by the company a week ago. Aberdeen was among the companies that suspended commercial-property funds because of an increase in demand for redemptions in the wake of the U.K.’s Brexit vote to leave the European Union. Aberdeen had cut the value of the fund by 17%. “Investors should be aware that the price may be adjusted on a daily basis to reflect the funds’ requirement to provide liquidity and the need to protect all investors,” said Aberdeen’s Chief Executive Martin Gilbert in a statement. “The market may take time to find its level but I have no doubt that property will continue to play an important part in investors’ portfolios,” he said.

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

ConAgra Foods Inc. said Wednesday it has filed with the U.S. Securities and Exchange Commission regarding its planned split into two independent public companies, Lamb Weston Holdings Inc. and Conagra Brands Inc. The company said ConAgra Foods director Timothy McLevish will become executive chairman of the board of Lamb Weston, and Thomas Werner, currently president of commercial foods at ConAgra Foods, will become chief executive. Lamb Weston will have a portfolio of foods, including frozen potato, sweet potato, appetizer and other vegetable products, along with private-brand retail frozen products. ConAgra Brands will be comprised of the ConAgra Foods’ consumer foods segment and the foodservice business, which includes brands like Marie Callender’s, Hunt’s, RO*TEL, Reddi-wip, Slim Jim, Chef Boyardee, Orville Redenbacher’s, P.F. Chang’s and Healthy Choice. The split will be structured as a spin-off of the Lamb Weston business and will be tax free to ConAgra and its shareholders. ConAgra shares were not yet active in premarket trade, but are up 15% in the year to date, while the S&P 500 has gained 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

The American League claimed home-field advantage in the World Series on Tuesday night by beating the National League, 4-2, in the Major League Baseball All-Star Game at Petco Park in San Diego. The Kansas City Royals’ Eric Hosmer was named the game’s MVP after belting a second-inning solo home run and later singling home another run. Royals teammate Salvador Perez hit a two-run homer to complete the AL’s scoring. It was the AL’s fourth All-Star Game win in a row.

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