As consumers demand and expect more access to information, Ten-X has developed mobile applications designed to meet those needs, adding up to an extensive suite of online and mobile tools. …read more
From:: Real Estate Wire
Buy and sell homes online with Ten-X
As consumers demand and expect more access to information, Ten-X has developed mobile applications designed to meet those needs, adding up to an extensive suite of online and mobile tools. …read more
From:: Real Estate Wire
Stocks slump at the open as investors turn to havens ahead of Fed
U.S. stocks opened lower Tuesday, putting the main indexes on track to post a fourth straight day of losses as the Federal Reserve kicks of its two-day policy meeting and as worries about the global market continue to spook investors. Flight to the perceived safety of sovereign bonds on worries that the U.K. might destabilize the European trading bloc by potentially voting to exit the European Union, helped to push the German 10-year benchmark bond yield into negative territory for the first time. Markets have been on edge over the so-called Brexit referendum. The Dow Jones Industrial Average 24 points, or 0.2%, to 17,705, while the S&P 500 index slipped 2 points, or 0.1%, to 2,076. The Nasdaq Composite Index was little-changed at 4,854. The main indexes are trying to avoid falling for four consecutive sessions.
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.
From:: Stock Market News
Chiasma to cut one-third of its workforce as part of restructuring
Chiasma Inc. said it would cut about one-third of its workforce, effective immediately, as part of restructuring aimed at focusing the company’s resources on the development of its treatment for acromegaly, Mycapssa. The company expects to record one-time charges of $1.4 million to $1.6 million in the second quarter for severance and related costs. Recent regulatory filings showed that Chiasma had 65 employees, according to FactSet. The restructuring follows Chiasma’s participation in a meeting with the U.S. Food and Drug Administration regarding its new drug application for Mycapssa. The company had received a complete response letter in April, in which the FDA said the NDA had failed to provide enough evidence of efficacy to warrant approval. The stock, which slumped 2.9% in premarket trade, has plunged 86% year to date through Monday, while the S&P 500 has gained 1.7%.
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.
From:: Stock Market News
Xerox appoints new CEO for service business ahead of IPO
Xerox Corp. has appointed Ashok Vemuri as chief executive officer of the business process outsourcing company that will trade publicly following its spin-off from Xerox Corp. later this year. In January, the company announced that it would split in two, with one business –the one Vemuri will oversee– targeting business services such as HR, customer service and accounting. The core Xerox will continue to focus on things like printing services. Vemuri will join Xerox on July 1, and serve as CEO of Xerox Business Services and as executive vice president of Xerox Corp. until the split is complete. Vemuri previously served as CEO of IGATE Corp., as well as a senior executive at Infosys. Shares of Xerox were inactive 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.
From:: Stock Market News
Infinity Pharmaceuticals stock plunges toward record low after drug study disappoints
Shares of Infinity Pharmaceuticals Inc. plummeted 66% in premarket trade Tuesday, toward an all-time low, after the biotechnology company announced a restructuring that would reduce its workforce by 21% in the wake of disappointing drug-study results. While a Phase 2 study of its treatment for non-Hodgkin lymphoma met its primary endpoint of overall response rate, the company said it hoped it would provide a larger clinical benefit. RBC Capital analyst Michael Yee said the response rate of 46% was below the 54% response rate of a rival treatment from Gilead Sciences Inc. , which suffers from lackluster sales. Infinity said its restructuring will include closing down its discovery research organization, leading to a loss of 46 jobs. In addition, the company said it was holding discussions with AbbVie Inc. to explore the next steps for the companies’ collaboration. Infinity’s stock, which went public in July 2000 at an IPO price of $18, was trading around $1.55 ahead of the open; the previous all-time intraday low of $3.74 was hit in October 2008.
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.
From:: Stock Market News
Infinity Pharmaceuticals stock plunges toward record low after drug study disappoints
Shares of Infinity Pharmaceuticals Inc. plummeted 66% in premarket trade Tuesday, toward an all-time low, after the biotechnology company announced a restructuring that would reduce its workforce by 21% in the wake of disappointing drug-study results. While a Phase 2 study of its treatment for non-Hodgkin lymphoma met its primary endpoint of overall response rate, the company said it hoped it would provide a larger clinical benefit. RBC Capital analyst Michael Yee said the response rate of 46% was below the 54% response rate of a rival treatment from Gilead Sciences Inc. , which suffers from lackluster sales. Infinity said its restructuring will include closing down its discovery research organization, leading to a loss of 46 jobs. In addition, the company said it was holding discussions with AbbVie Inc. to explore the next steps for the companies’ collaboration. Infinity’s stock, which went public in July 2000 at an IPO price of $18, was trading around $1.55 ahead of the open; the previous all-time intraday low of $3.74 was hit in October 2008.
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.
From:: Stock Market News
48% of hedge funds were in the red for 2016 through May: Eurekahedge
A full 48% of hedge funds were in the red for the year as of the end of May, as managers underperformed the broader markets in the month, according to Eurekahedge. Hedge funds were up 0.4% in the month, while the markets as measured by the MSCI World Index rose 1.3%. Distressed debt hedge funds enjoyed the best gains in the month at 1.7% and were up 2.6% in the year to date. That was a rebound from 2015, when they were up just 2.1% in the January to end-May period and down 4.4% for the year. The worst performance came from Latin American mandated hedge funds, which were down 0.4% in May. However, Latin American managers outperformed the broader market, with the MSCI Latin American index down 6%. “Among profitable moves for managers were some short Chinese names as markets fell earlier in the month,” said Eurekahedge. “On the FX front, long USD positions on the back of relative dollar strength contributed to gains. “
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From:: Stock Market News
Staples to offer same-day delivery in select metropolitan areas
Staples Inc. said Tuesday it will begin offering same-day delivery for online orders in select metropolitan areas. Orders placed before 3 p.m. local time will can be delivered by 7 p.m. for a fee of $14.99. The service, named “Staples Rush,” is currently available in parts of Boston, Dallas and New York City, and will soon be available in Chicago, Houston, Los Angeles, San Francisco and Seattle. “Businesses want their online orders fulfilled faster than ever,” said Faisal Masud, executive vice president of global e-commerce. The stock, which was indicated up slightly in premarket trade, had declined 8.9% year to date through Monday, while the S&P 500 had gained 1.7%.
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.
From:: Stock Market News
Yield on Germany’s 10-year bund turns negative for first time
The yield on Germany’s 10-year bund turned negative for the first time ever on Tuesday, according to TradeWeb. The mid-yield fell to minus 0.003% about 25 minutes after European equity trading started at 8 a.m. London time. Investors have been flocking to the fixed-income market on rising uncertainty around the referendum on June 23 to decide whether the U.K. should membership ties with the European Union, as the IMF and others warn of the economic impact of a “Brexit.” In addition, the European Central Bank last week kicked off purchases of corporate bonds as a part of its aggressive stimulus program. Bond yields fall when prices rise and vice versa.
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.
From:: Stock Market News