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​The CBOE Market Volatility Index on Monday climbed above the 18-mark for the first time since March 10 on uncertainties ahead of the Federal Reserve monetary policy meeting and the looming vote on whether U.K. will remain in the European Union. The Vix, the so-called fear gauge, added 1.47 points, or 8.6%, to 18.48 in recent activity. Most major stock markets declined with the Stoxx Europe 600 down more than 1% while Japan’s Nikkei tumbled 3.5%. The S&P 500 was off 0.3% to 2,091, the Dow Jones Industrial Average slid 0.2% to 17,833 and the Nasdaq was down 0.4% to 4,873.

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From:: Stock Market News

MGT Capital Investments , the company now headed by cybersecurity veteran John McAfee, said Monday it has hired a first hacker for its newly-formed Hacker Advisory Board. The company said last week it would create the special board to fight hackers, citing the statement from the designer of the first bank vault, Alexandre Fichet, that “no one unschooled in the art of picking locks can design and build a decent safe,” as its rationale. The company has hired ethical hacker Bryan Seely to the board with immediate effect. Seely, a former U.S. Marine, is known for his ethical hacking, in which he hacks sites to show companies and the U.S. government where there are vulnerabilities. Seely “thinks entirely out of the box, and has consistently looked to leverage his skills for the good of society,” McAfee said in a statement. MGT is planning to acquire a portfolio of cybersecurity technologies. Shares rose 2.9% in Monday 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

MGT Capital Investments , the company now headed by cybersecurity veteran John McAfee, said Monday it has hired a first hacker for its newly-formed Hacker Advisory Board. The company said last week it would create the special board to fight hackers, citing the statement from the designer of the first bank vault, Alexandre Fichet, that “no one unschooled in the art of picking locks can design and build a decent safe,” as its rationale. The company has hired ethical hacker Bryan Seely to the board with immediate effect. Seely, a former U.S. Marine, is known for his ethical hacking, in which he hacks sites to show companies and the U.S. government where there are vulnerabilities. Seely “thinks entirely out of the box, and has consistently looked to leverage his skills for the good of society,” McAfee said in a statement. MGT is planning to acquire a portfolio of cybersecurity technologies. Shares rose 2.9% in Monday 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

The Supreme Court has struck down a Puerto Rican law that would have allowed the U.S. territory’s public utilities to restructure their debt. The 5-2 ruling leaves management of the island’s fiscal crisis to Congress. The House of Representatives passed a bill last week to help Puerto Rico manage its debt crisis. The Senate has not yet acted.

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

McDonald’s Corp. announced Monday plans to move its corporate headquarters to downtown Chicago by the spring of 2018. The lease it signed at 1045 W. Randolph St. in Chicago is about 18 miles west of the current headquarters, as 2111 McDonalds Dr., Oak Brook, Ill., according to Google Maps. “Today’s announcement is about more than just a new location for us,” said Chairman Rick Hernandez in a statement. “It is an important investment in our people as we look to create a start-of-the-art company headquarters they can use to move our business forward for many years to come.” McDonald’s had been headquartered in Chicago between 1955 from 1971. The headquarters will also be the location for Hamburger University, which the company uses to train its future leaders. The stock, which rose 0.7% in morning trade, has gained 4.4% year to date, while the Dow Jones Industrial Average has tacked on 2.5%.

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.

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From:: Stock Market News

The selloff in Microsoft Corp.’s stock in morning trade Monday, after the company announced a deal to buy LinkedIn Corp. , was to blame for about half of the Dow Jones Industrial Average’s slip into negative territory. The stock was down $1.66, or 3.2%, which was shaving about 11 points off the Dow’s price. The Dow was down 22 points, but had been down as much as 71 points earlier in the session.

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From:: Stock Market News

Zafgen Inc. shares rose 6.4% Monday morning after the company presented positive late-stage data for its drug intended to treat obese patients with type 2 diabetes. The company presented data over the weekend showing the drug, beloranib, met its primary endpoint and was associated with multiple improvements in body composition, including a significant decrease in body weight and fat mass. In a note Monday rating the company outperform, RBC Capital Markets analyst Simos Simeonidis said that though the data was “very impressive,” the drug is on hold with the Food and Drug Administration – and has been since December – until the company can address risk of blood clots in patients, which it submitted a plan for the FDA to review. “What is not clear is whether there is a path forward for this drug, according to the agency,” Simeonidis said.

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From:: Stock Market News

Eleven Biotherapeutics Inc.’s stock nearly doubled in morning trade Monday, after the company announced a license deal with F. Hoffmann-La Roche Ltd. to for the development and commercialization of its treatment for eye disease. As part of the deal, Eleven will receive an upfront payment of $7.5 million, and will be eligible for future milestone payments of up to $262.5 million. The stock shot up 82% to $3.40, the highest level traded at since Sept. 8, 2015. The first potential milestone concerns the effectiveness of an investigational new drug application for EBI-031, a treatment for diabetic macular edema. Eleven announced Monday that it submitted an IND application to the U.S. Food and Drug Administration to initiate a Phase 1 clinical trial of EBI-031. the stock

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From:: Stock Market News

Microsoft Corp. said Monday it has agreed to acquire LinkedIn Corp. in an all-cash deal valued at $26.2 billion. In a blog post, Microsoft said it will pay $196 per LinkedIn share and will finance the deal by issuing new debt. The professional networking site will retain its brand, culture and indpeendence and Jeff Weiner will remain chief executive, said the blog. Weiner will report to Microsoft CEO Satya Nadella. The deal is expected to close this calendar year. LinkedIn shares rallied 48% on the news in premarket trade, while Microsoft shares were halted for news pending.

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