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Struggling network-software company Infoblox Inc. announced Thursday that it would eliminate about 12% of its workforce in a cost-cutting move. After a disappointing quarterly earnings report in May, Infoblox said it would undergo a strategic review, and the results released Thursday include a reduction of about 110 jobs and revised hiring priorities. “The actions we are announcing today will make the company leaner and more efficient, and we believe will best position Infoblox to extend our industry leadership,” Chief Executive Jesper Andersen said. “Many of the measures we are taking to streamline costs are structural.” The company expects to incur costs of $6.5 million in the restructuring, all of which is expected to be incurred in the fourth quarter of this fiscal year. Infoblox stock has fallen 30% in the past year, but shares have rebounded from lows of less than $14; the stock closed Thursday with a 1.5% gain at $18.90.

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From:: Stock Market News

Struggling network-software company Infoblox Inc. announced Thursday that it would eliminate about 12% of its workforce in a cost-cutting move. After a disappointing quarterly earnings report in May, Infoblox said it would undergo a strategic review, and the results released Thursday include a reduction of about 110 jobs and revised hiring priorities. “The actions we are announcing today will make the company leaner and more efficient, and we believe will best position Infoblox to extend our industry leadership,” Chief Executive Jesper Andersen said. “Many of the measures we are taking to streamline costs are structural.” The company expects to incur costs of $6.5 million in the restructuring, all of which is expected to be incurred in the fourth quarter of this fiscal year. Infoblox stock has fallen 30% in the past year, but shares have rebounded from lows of less than $14; the stock closed Thursday with a 1.5% gain at $18.90.

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 iPath S&P 500 VIX Short-Term Futures exchange-traded note turned lower in the last hour of Thursday’s regular session, putting it on track to suffer a third-straight loss in active trade. With volume of 127.8 million shares, which is nearly double the full-day average, the VXX was the most-actively traded on U.S. exchanges. The volatility measure fell 2.1% in afternoon trade, after being up as much as 8.1% at a seven-week high at its intraday peak, which was reached about a half hour after the open. The selloff coincided with the swing higher in the S&P 500, which swung to a gain of 0.3% after being down as much 1% early in the session.

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

Gold futures settled higher on Thursday, at their highest level in about 17 months, but prices finished below the key $1,300 level as the fatal shooting of a British politician put campaigning ahead of the U.K. referendum next week on hold. The so-called Brexit vote is set to decide whether the country will stay or leave the European Union. Gold for August delivery rose $10.10, or 0.8%, to settle at $1,298.40 an ounce–the highest settlement since Jan. 22, 2015.

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

he British pound and U.S. stocks rebounded Thursday after both sides in the U.K. European Union referendum campaign suspended activity for the day following death of a U.K. lawmaker who was shot while meeting with constituents. Boris Schlossberg, managing director of currency strategy at BK Asset Management, said rumors that the U.K. referendum, set for next week, could be delayed because of the attack helped push stocks and the pound higher. There’s been no official indication that a referendum delay is being contemplated. If the police confirm suspicions that the attack was politically motivated, it could bolster support for a “remain” vote, Schlossberg said. “If the supposition of the market is right — that this was a politically motivated act — it’s probably going to alter the calculus for the vote,” Schlossberg said. The pound recently traded at $1.4197, off its daily low of $1.4012. U.S. stocks pared much of their earlier losses, with the Dow industrials turning flat on the day at 17,640. The S&P 500 was off 0.2% at 2,068. Government bond yields also rose. Bond yields move inversely to prices.

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