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Bed Bath & Beyond Inc. is recalling about 175,000 Hudson Comforters by UGG because of the risk that they contain mold, the U.S. Consumer Products Safety Commission said Thursday. “Mold can be present, posing a risk of respiratory or other infections in individuals with compromised immune systems, damaged lungs or an allergy to mold,” the CPSC said in a statement. Consumers should stop using the comforters and return them for a full refund. Bed Batch & Beyond has created a hotline at 800-462-3966. The recall involves polyester comforters sold in four colors and three sizes between August 2017 and October 2017. The comforters were made by BHF International Ltd of Hong Kong in mainland China. Bed Bath & Beyond shares were slightly lower Thursday, and have fallen 43% in the last 12 months, while the S&P 500 has gained 23%.

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From:: Stock Market News

Facebook Inc. shares are up 0.6% in Thursday morning trading after its WhatsApp segment said it would roll out a new messaging app for small businesses. WhatsApp said in a blog post that the new app would “make it easier for companies to connect with customers, and more convenient for our 1.3 billion users to chat with businesses that matter to them.” The platform will enable customers to view basic information about small businesses within WhatsApp and let merchants devise “quick replies” to answer basic questions. WhatsApp said in July that it had a billion daily active users and 1.3 billion monthly active users. Facebook shares have gained 40% over the past 12 months, compared with a 23% rise for the S&P 500 in that time.

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From:: Stock Market News

The Dow Jones Industrial Average was seeing a modest slide late-Thursday morning, led by a sharp decline in shares of Boeing Co. The retreat for plane maker Boeing’s stock was erasing about 70 points from the Dow Jones Industrial Average in early trade, a day after the blue-chip component provided a roughly 110-point lift to the average. A $1 move in any one of the Dow’s members equates to a 6.83-point swing in the benchmark. Boeing’s shares were most recently off $10, or 2.8%, at $341.16. Because the Dow is price-weighted, Boeing has become the most influential of the Dow’s components. The Dow was off 84 points, or 0.3%, at 26,034, while the S&P 500 index was off 5 points, or 0.2%, at 2,797 and the Nasdaq Composite Index was down 0.1% at 7,294.

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From:: Stock Market News

Oil prices pared their earlier declines Thursday after the U.S. Energy Information Administration reported that domestic crude supplies dropped 6.9 million barrels for the week ended Jan. 12. Analysts surveyed by S&P Global Platts had forecast a fall of 425,000 barrels, while the American Petroleum Institute on Wednesday reported a drop of 5.1 million barrels. Gasoline stockpiles climbed by 3.6 million barrels for the week, while distillate stockpiles declined by 3.9 million barrels, according to the EIA. The S&P Global Platts survey forecast a supply rise of 2.7 million barrels for gasoline and a fall of 850,000 barrels for distillates. February crude was down 27 cents, or 0.4%, to $63.70 a barrel on the New York Mercantile Exchange, but that was up from $63.52 before the supply data.

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The acting director of the Consumer Financial Protection Bureau requested zero dollars in his second-quarter budget request, saying the agency has enough money for now. Mick Mullaney, who was recently appointed by President Trump, said the CFPB has a reserve fund of $177 million. The agency will only need $145 million to fund its operations during the second quarter. The prior CFPB director, Democrat Richard Cordray, had asked for $217 million in the prior quarter and $86.6 million two quarters ago. Most Republicans have long opposed the CFPB, created under President Obama, and Mulvaney appears to have reined in the agency’s investigations since he took over.

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The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 183 billion cubic feet for the week ended Jan. 12. Analysts surveyed by S&P Global Platts forecast a decrease of 189 billion, while the five-year average withdrawal is 203 billion. Total stocks now stand at 2.584 trillion cubic feet, down 368 billion cubic feet from a year ago, and 362 billion below the five-year average, the government said. February natural gas fell 9.7 cents, or 3%, to $3.134 per million British thermal units, down from $3.19 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.

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From:: Stock Market News

The Dow Jones Industrial Average was seeing a modest slide late-Thursday morning, led by a sharp decline in shares of Boeing Co. The retreat for plane maker Boeing’s stock was erasing about 50 points from the Dow Jones Industrial Average in early trade, a day after the blue-chip component provided a roughly 110-point lift to the average. A $1 move in any one of the Dow’s members equates to a 6.83-point swing in the benchmark. Boeing’s shares were most recently off $7.35, or 2.1%, at $343.71. Because the Dow is price-weighted, Boeing has become the most influential of the Dow’s components. The Dow was off 66 points, or 0.3%, at 26,049, while the S&P 500 index was off 5 points, or 0.2% at 2,797 and the Nasdaq Composite Index was down 0.1% at 7,288.

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Amazon.com Inc.’s stock slumped 0.8% in morning trade, on track for a third-straight loss, after the e-commerce giant announced the 20 finalists for its second headquarters. The stock has now shed 1.6% since Jan. 12, when it closed at a record $1,305.20 to cap a nine-session win streak. Separately, Instinet analyst Simeon Siegel reiterated Thursday the buy rating on Amazon and the $1,360 stock price target, but cut the 2017 earnings-per-share estimate to $3.68 from $4.16 while raising the 2018 EPS estimate to $7.81 to $7.34. The stock was still up 29% over the past three months, while the S&P 500 has gained 9.3%.

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Billionaire investor Carl Icahn on Thursday urged Xerox Corp. to revise or even terminate its Fuji Xerox joint venture in the wake of an accounting scandal, and offered his support to Darwin Deason, the company’s third-biggest shareholder. Deason said Wednesday that Xerox should disclose its agreement with Fuji and explore strategic alternatives regarding Fuji. “We are obviously in favor of renegotiating the joint venture agreement to make it more favorable for Xerox,” Icahn wrote in an open letter to shareholders. “This should have been done a long, long time ago. It is self-evident that the current management team is clearly incapable of doing so.” Icahn also criticized the “long-tenured directors at Xerox” who refuse to acknowledge that change is needed. In December, Jonathan Christodoro, a former Icahn employee, resigned from his role as member of the Xerox board after a disagreement about strategy. Xerox shares were down 0.8%, but have gained 15% in the last 12 months, while the S&P 500 has gained 23%.

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From:: Stock Market News