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Global Water Resources Inc. set the expected price range for its initial public offering at $5.25 to $6.25. The water resource management company is offering 1 million shares to the public, as it looks to raise $6.25 million in the IPO. The company plans to apply for listing on the Nasdaq Global Market, under the ticker “GWRS.” The company said the main reason to go public is to give it the option to exercise the redemption of tax-exempt bonds, which needs to be completed within 90 days after the closing of a public share offering. The company had earnings of $21.4 million on revenue of $32 million in 2015, compared with earnings of $64.9 million and $32.6 million in 2014.

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

Oil futures settled lower Wednesday, putting an end to a streak of gains that spanned three sessions, after data revealed that U.S. crude supplies rose by a much-bigger-than-expected 6.6 million barrels for the week ended April 8. Prices, however, finished above the session’s lows, finding support from a decline in U.S. oil production and strong demand for gasoline. May WTI crude fell 41 cents, or 1%, to settle at $41.76 a barrel on the New York Mercantile Exchange.

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 retreated on Wednesday as demand for riskier assets such as stocks revived, in part on better-than-expected Chinese economic data. U.S. stocks extended gains for a second day with major stock indexes up about 1%. Chinese exports rose for the first time in nine months while imports declined at a slower paced than projected, helping to ease persistent worries about a prolonged slowdown in China. The dollar’s strength also weighed on the precious metal which is denominated in the U.S. currency. June gold shed $12.60, or 1%, to settle at $1,248.30 an ounce. The Fed’s Beige Book, released after the metal settled, said wages have started to rise while the steady decline in oil production may be coming to an end.

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 Fitbit Inc. jumped 10% Wednesday morning after analysts raised revenue estimates due to the company’s strong sales of its new Alta and Blaze devices. In a note Wednesday, Citigroup analysts said they expect “significant global expansion” for Fitbit in 2016 and called the stock “inexpensive” given the opportunities ahead. Citigroup analysts reiterated a buy rating and $30 price target. In a note Tuesday, Pacific Crest analysts also looked to the strong sales of Fitbit’s new products and called the stock “attractively priced.” The analysts remained sector weight, however, as they still have concerns on user growth and product differentiation.

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 GoPro surged 13% Wednesday after the company reportedly hired a designer from Apple Inc . The Information reported that the action-camera company had hired Danny Coster, who has worked for Apple on the company’s iPhone and iPad. Shares of GoPro have gained 10.5% month-to-date, compared to the S&P 500’s gain of 1%.

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 GoPro surged 13% Wednesday after the company reportedly hired a designer from Apple Inc . The Information reported that the action-camera company had hired Danny Coster, who has worked for Apple on the company’s iPhone and iPad. Shares of GoPro have gained 10.5% month-to-date, compared to the S&P 500’s gain of 1%.

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