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Gold futures climbed on Monday, finding support from continued weakness in the U.S. dollar. Prices, however, finished below the session’s high as “profit taking” set in when prices topped $1,300 during the session, said Chintan Karnani, chief market analyst at Insignia Consultants. June gold added $5.30, or 0.4%, to settle at $1,295.80 an ounce.

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

Colgate-Palmolive Co.’s stock surged 1.8% toward a record high, after Goldman Sachs analyst Jason English threw in the towel on his bearish call on the consumer products company, saying the downside risks to earnings estimates have subsided. English raised his rating to neutral, after being at sell since April 19, 2015. He raised his stock price target to $75, which is 3.9% above current levels, from $62. Since he went to sell on the stock, it has gained 4.3% while the S&P 500 has lost 1.5%. “[Colgate-Palmolive’s] earnings visibility has improved of last as [currency] stabilizes, commodities remain benign and the company’s volume growth ticked higher,” English wrote in a note to clients. The stock is set to close above the previous record close of $71.66 seen on April 19, 2016. The stock has run up 8.4% year to date, while the SPDR Consumer Staples ETF has gained 4.3% and the S&P 500 has tacked on 1.5%.

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From:: Stock Market News

Groupon Inc.’s stock tumbled 5.3% in morning trade Monday, on the heels of an 18% plunge in the previous session, after RBC Capital turned bearish on the online coupon company. Analyst Mark Mahaney cut his rating to underperform, after being at sector perform since September 2014. He slashed his stock price target to $3, which is 13% below current levels, from $4. Mahaney said Groupon’s March quarter results, which led to Friday’s stock price plunge, showed that fundamentals continued to deteriorate, as growth in North America revenue, gross profit, local billings and units all decelerated. “And we believe they will continued to do so for the foreseeable future,” Mahaney wrote in a note to clients. The stock was still up 12% year to date, but has lost half its value over the past year.

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

Groupon Inc.’s stock tumbled 5.3% in morning trade Monday, on the heels of an 18% plunge in the previous session, after RBC Capital turned bearish on the online coupon company. Analyst Mark Mahaney cut his rating to underperform, after being at sector perform since September 2014. He slashed his stock price target to $3, which is 13% below current levels, from $4. Mahaney said Groupon’s March quarter results, which led to Friday’s stock price plunge, showed that fundamentals continued to deteriorate, as growth in North America revenue, gross profit, local billings and units all decelerated. “And we believe they will continued to do so for the foreseeable future,” Mahaney wrote in a note to clients. The stock was still up 12% year to date, but has lost half its value over the past year.

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

Shares of Apple Inc. pared earlier losses to be down 0.5% in morning trade Monday–they were down as much as 1.4% earlier in the session–but were still on track to suffer the longest losing streak in 18 years. The stock is headed for an eighth-straight loss, and 11th loss in 12 sessions, since it closed at a four-month high of $112.10 on April 14. An eighth-straight loss would be the longest such stretch since the eight-day losing streak ending July 28, 1998. If the stock turns higher by the end of the day, the seven-day loss streak would be the longest since Feb. 21, 2013. The shares have tumbled 13% since it last gained ground on April 20–it ticked up 0.2% that day–including a 6.3% plunge on April 27 after Apple reported disappointing quarterly results. Over the past 11 sessions, the stock has tumbled 17%, while the Dow Jones Industrial Average has slipped 0.5%.

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