Author: admin

A technical malfunction at the New York Stock Exchange on Wednesday resulted in the suspension of trading of about 200 securities, a NYSE spokeswoman confirmed to MarketWatch. The glitch occurred soon after the start of trading at 9:30 a.m. E.T. and the NYSE is working to resolve the issue, the spokeswoman said. The malfunction is affecting just about 4% of NYSE-listed securities. Stocks that were suspended on the Big Board are being rerouted to other exchange venues, including NYSE Arca, an NYSE-run trading platform. Fortress Investment Group , Agree Realty Corp. , Graco Inc. , OneMain Holdings Inc. , Townsquare Media Inc. and BlackRock Resources & Commodities Strategies Trust are among the securities suspended on the NYSE. The NYSE spokeswoman said orders related to those impacted securities have been cancelled. The NYSE Group is a unit of Intercontinental Exchange Inc. . It isn’t exactly clear when the technical snafu will be fixed.

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.

…read more

From:: Stock Market News

Shares of MGT Capital Investments Inc. plunged 23% in active morning trade, reversing an earlier intraday surge of 34%, putting it on track to snap a seven-session win streak. With volume of 49 million shares, the stock was the most active trading on U.S. exchanges, according to FactSet. At the intraday high of $5.58, the highest price seen since November 2012, the acquisition firm’s stock had rocketed more than 15 fold since May 6, when it closed at 36 cents. The stock’s recent spike up started with a 34% jump on May 9, after MGT announced plans to appoint John McAfee as its chief executive officer. McAfee founded antivirus software company McAfee Inc., which was acquired by Intel Corp. in 2010. McAfee is also known for escaping from Belize amid a murder investigation. Separately, a regulatory filing Wednesday disclosed that Robert Ladd, current CEO of MGT, acquired a 5.01% stake in vitro diagnostic company Venaxis Inc. . That stake includes a 2.89% stake indirectly owned by MGT. Venaxis shares ran up 12% Wednesday, and have climbed 64% amid a four-session win streak.

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.

…read more

From:: Stock Market News

Oil futures pared gains Wednesday after the U.S. Energy Information Administration reported a 1.3 million-barrel rise in crude-oil supplies for the week ended May 13. The American Petroleum Institute late Tuesday had reported a 1.1 million-barrel fall, while analysts polled S&P Global Platts expected a 3 million-barrel decline. Gasoline supplies were down by 2.5 million barrels, while distillate stockpiles fell 3.2 million barrels last week, according to the EIA. June crude was at $48.51 a barrel on the New York Mercantile Exchange, up 20 cents, or 0.4%. Prices traded at $48.63 before the data.

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.

…read more

From:: Stock Market News

The pound surged nearly 1% Wednesday after a poll showed more Britons favor the U.K. staying in the European Union. Sterling was up 0.9% at $1.4587 after a poll conducted for the Evening Standard newspaper by Ipsos Mori showed 55% want the U.K.’s ties with the bloc to remain intact. That compares with 37% who want a breakup. That result was the largest lead in the past three months for the “Remain” camp, the Evening Standard said. A June 23 referendum on the issue will be held in the U.K.

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.

…read more

From:: Stock Market News

U.S. stocks opened slightly lower Wednesday as investors awaited minutes from the Federal Reserve’s last policy meeting, which could hint at when the central bank might raise interest rates next. Stronger-than-expected inflation data, along with hawkish comments from several Fed officials, have stirred fears that the Fed might raise rates at a faster pace than previously thought. Meanwhile, a retreat in oil futures also weighed on risk appetite. The S&P 500 was down 4 points, or 0.2%, to 2,043. The Dow Jones Industrial Average lost 32 points, or 0.2%, to 17,491 at the open. Meanwhile, the Nasdaq Composite began the session down 9 points, or 0.2%, at 4,707.

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.

…read more

From:: Stock Market News

U.S. stocks opened slightly lower Wednesday as investors awaited minutes from the Federal Reserve’s last policy meeting, which could hint at when the central bank might raise interest rates next. Stronger-than-expected inflation data, along with hawkish comments from several Fed officials, have stirred fears that the Fed might raise rates at a faster pace than previously thought. Meanwhile, a retreat in oil futures also weighed on risk appetite. The S&P 500 was down 4 points, or 0.2%, to 2,043. The Dow Jones Industrial Average lost 32 points, or 0.2%, to 17,491 at the open. Meanwhile, the Nasdaq Composite began the session down 9 points, or 0.2%, at 4,707.

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.

…read more

From:: Stock Market News

U.S. stocks opened slightly lower Wednesday as investors awaited minutes from the Federal Reserve’s last policy meeting, which could hint at when the central bank might raise interest rates next. Stronger-than-expected inflation data, along with hawkish comments from several Fed officials, have stirred fears that the Fed might raise rates at a faster pace than previously thought. Meanwhile, a retreat in oil futures also weighed on risk appetite. The S&P 500 was down 4 points, or 0.2%, to 2,043. The Dow Jones Industrial Average lost 32 points, or 0.2%, to 17,491 at the open. Meanwhile, the Nasdaq Composite began the session down 9 points, or 0.2%, at 4,707.

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.

…read more

From:: Stock Market News

Shares of Fitbit Inc. were up 2% in premarket trade Wednesday, after the company said it has acquired the assets of Coin, a consumer electronics and financial technology company. With the acquisition, Fitbit gained some of Coin’s personnel and intellectual property, including its wearable payment assets. The company said the acquisition speeds up its “ability” to integrate a mobile payment system into its Fitbit devices, but it doesn’t plan to include it in the 2016 product roadmap. Fitbit did not disclose the financial details of the acquisition.

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.

…read more

From:: Stock Market News

Shares of Fitbit Inc. were up 2% in premarket trade Wednesday, after the company said it has acquired the assets of Coin, a consumer electronics and financial technology company. With the acquisition, Fitbit gained some of Coin’s personnel and intellectual property, including its wearable payment assets. The company said the acquisition speeds up its “ability” to integrate a mobile payment system into its Fitbit devices, but it doesn’t plan to include it in the 2016 product roadmap. Fitbit did not disclose the financial details of the acquisition.

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.

…read more

From:: Stock Market News

Andersons Inc. said Wednesday that it rejected an unsolicited buyout bid from former hedge-fund manager Philip Falcone’s HC2 Holdings Inc. for $37 a share in cash. The bid represented a 43% premium to Tuesday’s closing price for Andersons’s stock of $25.94. The agriculture company said its board of directors unanimously decided that HC2’s proposal undervalues the company and is not in the best interest of its shareholders. “We believe HC2’s proposals ignore our value and prospects as a standalone entity and represent an opportunistic attempt to acquire the Company at a low point in the industry cycle,” said Chairman Mike Anderson. The company’s announcement comes after HC2 publicly-disclosed late Tuesday its bid for Andersons. The stock was up 25% in premarket trade prior to a trading halt. It had plunged 18% year to date through Tuesday, while the S&P 500 had gained 0.2%.

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.

…read more

From:: Stock Market News