Oil futures settle above $50 for first time in two weeks

Oil futures settled back above $50 a barrel Thursday at their highest level in two weeks as traders bet that the U.K. will vote to remain in the European Union. That eased worries about the potential disruption a U.K. exit, or “Brexit,” from the bloc would cause in global financial markets and economies. August WTI crude settled at $50.11 a barrel on the New York Mercantile Exchange, up 98 cents, or 2%.

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From:: Stock Market News

Ocwen Settles False Claims Allegations

Ocwen Financial Corp. has settled charges that it violated the False Claims Act on government-insured lending and loan modifications.

The alleged violations were committed by Homeward Residential Inc., which Ocwen acquired from WL Ross & Co. LLC in late 2012.

Ocwen is accused of falsely certifying compliance with the Home Affordable Modification Program and Federal Housing Administration lending.


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From:: Financing

HP recalls 41,000 batteries because of risk of fire and burns

HP Inc. is recalling lithium-ion batteries containing Panasonic cells used in HP and Compaq Notebook computers due to the risk of fire and burns, the Consumer Product Safety Commission said Thursday. Consumers are being urged to immediately stop using the batteries which were made in China, remove them from computers and contact HP for a free replacement, the CPSC said in a statement. About 41,000 units are affected, roughly 2,600 of which were sold in Canada and about 4,500 of which were sold in Mexico. The batteries have the following barcodes: 6BZLU, 6CGFK, 6CGFQ, 6CZMB, 6DEMA, 6DEMH, 6DGAL and 6EBVA. The company has so far received seven reports of battery packs overheating, melting or charring, and four reports of property damage. The batteries were sold at Best Buy , Wal-Mart and Costco stores, as well as at authorized dealers across the U.S. in the period stretching from March 2013 to August 2015. They were also sold online by HP. HP shares were up 2% in early afternoon trade, and are up 8.8% in the year so far, while the S&P 500 has gained 2.9%.

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From:: Stock Market News

House Democrats end sit-in on chamber floor

WASHINGTON (MarketWatch) – House Democrats on Thursday ended their sit-in on the floor of the House after more than 25 hours of speeches demanding action on gun control legislation in the wake of the Orlando shooting. Some members suggested Democrats might resume the sit-in when the House returns from its recess after July 4 holiday. House Speaker Paul Ryan called the sit-in a publicity stunt.

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From:: Stock Market News

Kroger raises quarterly dividend, approves $500M share repurchase program

Kroger Co. said Thursday that it raised its quarterly dividend by 14% to 12 cents per share, to be paid on Sept. 1 to shareholders of record as of the close of business on Aug. 15. Kroger said it expects to continue to increase the dividend “over time.” The company also said it has approved a $500 million share repurchase program. This new program replaces the prior share repurchase authorization, which has been completed. Kroger shares are up 0.7% in Thursday trading, but down 17.6% for the year to date. The S&P 500 is up 3% for the year so far.

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From:: Stock Market News

UPDATE: Gunman in German cinema attack shot dead by police: Local paper

A gunman who opened fire in a cinema complex in the town of Viernheim, south of Frankfurt, was shot dead by police, local newspaper Darmstaedter Echo reported Thursday. The man was reported by various media to have injured up to 50 people, although police later said the injuries were caused by pepper spray inhalation. The man had barricaded himself inside the building before the police arrived. Daily Bild said the interior minister of the state of Hesse has confirmed that the gunman had been shot dead.

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From:: Stock Market News

UPDATE: Gunman in German cinema attack shot dead by police: Local paper

A gunman who opened fire in a cinema complex in the town of Viernheim, south of Frankfurt, was shot dead by police, local newspaper Darmstaedter Echo reported Thursday. The man was reported by various media to have injured up to 50 people, although police later said the injuries were caused by pepper spray inhalation. The man had barricaded himself inside the building before the police arrived. Daily Bild said the interior minister of the state of Hesse has confirmed that the gunman had been shot dead.

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

UPDATE: Gunman in German cinema attack shot dead by police: Local paper

A gunman who opened fire in a cinema complex in the town of Viernheim, south of Frankfurt, was shot dead by police, local newspaper Darmstaedter Echo reported Thursday. The man was reported by various media to have injured up to 50 people, although police later said the injuries were caused by pepper spray inhalation. The man had barricaded himself inside the building before the police arrived. Daily Bild said the interior minister of the state of Hesse has confirmed that the gunman had been shot dead.

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