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Oil futures pared their gains after Baker Hughes showed that the weekly number of active U.S. rigs drilling for crude rose for a third week in a row, by 9 to 337 as of Friday. The total U.S. rig count climbed by 10 to 424. July crude was at $47.52 a barrel on the New York Mercantile Exchange, up $1.31, or 2.8%, from Thursday’s settlement. It was trading at $47.57 before the data.

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From:: Stock Market News

Shares of Teekay Offshore Partners L.P. rocketed 20% in active midday trade, making them the second-biggest gainer on the NYSE, after the marine transportation and oil production company announced a private placement of $200 million worth of equity securities. Volume reached 2.4 million shares within two hours of trade, or close to triple the full-day average. As part of the private placement, Teekay said it issued $100 million worth of perpetual preferred units and $100 million worth of common stock units to a group of investors. The company plans to use the proceeds from the issuances, which are expected to close on or before the end of June, for general purposes such as funding its newbuilding installments and capital conversion projects. The stock was still down 16% year to date, while the S&P 500 has gained 1%.

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From:: Stock Market News

The major market indexes may be declining in morning trade Friday, but most stocks are trading higher, reversing the divergence witnessed in the previous session. The number of advancing stocks exceeded the number of decliners by an 1,817-to-942 score on the NYSE, and by a 1,225-to-1,036 margin on the Nasdaq. Advancing volume on the NYSE was about 66% of the total, while Nasdaq advancing volume was 49%. Meanwhile, the Dow Jones Industrial Average fell 17 points, with 16 of 30 components losing ground. The S&P 500 Index eased 0.2% and the Nasdaq Composite Index shed 0.5%. On Thursday, the indexes bounced sharply off early lows to close higher, but market breadth was negative.

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

The major market indexes may be declining in morning trade Friday, but most stocks are trading higher, reversing the divergence witnessed in the previous session. The number of advancing stocks exceeded the number of decliners by an 1,817-to-942 score on the NYSE, and by a 1,225-to-1,036 margin on the Nasdaq. Advancing volume on the NYSE was about 66% of the total, while Nasdaq advancing volume was 49%. Meanwhile, the Dow Jones Industrial Average fell 17 points, with 16 of 30 components losing ground. The S&P 500 Index eased 0.2% and the Nasdaq Composite Index shed 0.5%. On Thursday, the indexes bounced sharply off early lows to close higher, but market breadth was negative.

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 opened slightly lower on Friday as investors remained cautious ahead of the looming vote in the U.K. on whether or not to remain in the European Union. The campaigning has been on hold for a second day following an attack that killed British lawmaker Jo Cox on Thursday. The S&P 500 opened 4 points, or 0.2%, lower at 2,073. The Dow Jones Industrial Average slipped 21 points, or 0.1%, to 17,713. Meanwhile, the Nasdaq Composite began the session down 14 points, or 0.3%, at 4,830.

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

The British Parliament will be recalled on Monday to pay tribute to murdered U.K. lawmaker Jo Cox, media reports said on Friday. Labour’s Jeremy Corbyn had asked for the recall of the House of Commons, and the opposition leader confirmed during a speech in Cox’s West Yorkshire constituency that his request was granted. Speaking alongside Prime Minister David Cameron, Corbyn said Cox was an extraordinary that is “a tragedy beyond tragedy” what happened to her, according to local media reports. Corbyn and Cameron were in Birstall, where Cox was killed, to pay tribute to the rising Labour politician. Meanwhile, the ruling Conservative party issued a statement saying it won’t put up a candidate in the election for Cox’s Batley and Spen seat. “Following the tragic killing of Labour MP Jo Cox, the Conservative party has decided not to contest the forthcoming byelection as a mark of respect to a much-loved and respected politician,” the Conservative party said.

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From:: Stock Market News

Viacom Inc. on Friday issued a profit warning to investors on the heels of a continued disappointing film performances. The media and entertainment company said it expects per-share earnings for the third quarter to land in the range of $1 to $1.05. The FactSet consensus on earnings is $1.38 per share. Viacom’s third quarter results are impacted by the underperformance of “Teenage Mutant ninja Turtles: Out of the Shadows,” according to a news release. The film has pulled in $122.7 million worldwide, according to Box Office Mojo. The company also said domestic advertising sales to drop 4% in the quarter. The profit warning comes just a day after Sumner Redstone’s holding company National Amusements, which controls nearly 80% of Viacom’s voting shares, moved to replace five of the company’s board members including Viacom Chairman and CEO Philippe Dauman. Shares of Viacom were down nearly 2% in premarket trade.

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