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U.S. stocks closed lower on Monday as investors remained hesitant to buy stocks ahead of the Federal Reserve’s much anticipated policy meeting this week. The Federal Open Market Committee begins a two-day meeting on Wednesday and will deliberate the first interest rate hike in nearly a decade with analysts split about the outcome. The S&P 500 closed 8.03 points, or 0.4% lower at 1,953.02. The Dow Jones Industrial Average slipped 62.13 points to 16,370.96. The Nasdaq Composite ended the day down 16.58 points, or 0.3% at 4,805.76.

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From:: Stock Market News

Ralphs Grocery Company, a subsidiary of The Kroger Co. , is planning to recruit military vets and their family members for about 1,000 open positions on Sept. 15. The jobs are available across the company’s 209 stores. Kroger announced second-quarter earnings that beat estimates on Friday. With profits up 25%, the company raised guidance for the full year. Kroger is up 4.6% for the past three months. The S&P is down 6.8%.

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GoPro Inc.’s stock ran up 4.4% in midday trade Monday, bouncing from the second-lowest close in its history in the previous session, after Northland Capital analyst Gus Richard said the wearable camera maker would make a “compelling acquisition target” for Apple Inc. GoPro’s stock closed Friday at $32.42, after plunging 45% over the past month. That was the lowest close for the shares since its public debut on June 26, 2014, when it closed at $31.34. Richard said the stock’s recent selloff has presented “a compelling entry point” for investors and companies, like Apple , seeking original content. “While how GoPro monetizes content is up in the air, it is adding unrecognized value to the franchse,” Richard wrote in a note to clients. “Moreover, we think GoPro would be an interesting acquisition for Apple from both a hardware, software and content prospective.” Richard said 2016 estimates for GoPro could be raised, because they don’t currently include the benefits from sales of cameras used for drones. He expects up to 1 million drones will be bought as Christmas gifts this year, with about 80% likely to have a camera attached.

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Russia’s antitrust commission has ruled that Google violated competition law in the country, and recommended the company issue prescriptions to “end abuse of [its] dominant market position,” according to the Russian news site Interfax. The ruling comes in response to an antitrust lawsuit filed by Google rival Yandex earlier this year. In the complaint, Yandex said services such as search, map and email should be unbundled from Google’s Android mobile operating system. The commission will write to Google and Yandex within 10 days about recommended actions, according to Interfax. Shares of Google fell 0.4% to $652.86 in recent trade, while those of Yandex, which operates a rival search engine, climbed 7.3% to $12.09. Google has been facing mounting regulatory woes in Europe. In April, the European Commission opened a formal investigation in response to antitrust complaints against the company

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From:: Stock Market News

Shares of Apple Inc. are on pace for a four-week high on Monday, after the company said iPhone 6S and 6S Plus preorders are on track to outpace last year’s opening weekend for the iPhone 6 and 6 Plus. Apple led the gainers on the Dow Jones Industrial Average, its shares climbing 1.7% to $116.09 in recent trade despite a 40-point drop for the Dow. The gains put the stock on track for its best day since August 18. However, its shares are still down nearly 9% over the last three months, versus an 8.2% decrease for the Dow. An Apple spokesperson on Monday said preorders for the new iPhone are on track to exceed last year’s opening-weekend record of 10 million. Fueling the improvement is the fact that China, which recently became Apple’s biggest iPhone market, was among the handful of country’s included in opening-weekend preorders. Last year, China didn’t get the iPhone 6 and iPhone 6 Plus until mid-October.

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From:: Stock Market News

Xilinx Inc.’s stock surged 2.1% in morning trade Monday, after the semiconductor maker was upgraded at Goldman Sachs, which cited expectations of a rebound of sales into the communications market. Analyst James Covello raised his rating to buy, after being at neutral for about 15 months. He raised his stock price target to $50, which is 17% above current levels, from $40. Covello said chip shipments into communications markets have been much less than usual levels, which suggests supplies are “lean.” When chips were undershipped at the current rate in the past, sales bounced back sharply in the following year, he said. “We have always held the view that supply is more important than demand in driving semiconductor company fundamentals,” Covellos wrote in a note to clients. He said recent market share gains are expected to continue, and aerospace and defense revenue should swing to a tailwind from a headwind in 2016. Xilinx’s stock has lost 8.2% over the past three months, while the PHLX Semiconductor Index has dropped 13% and the S&P 500 has shed 6.7%.

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From:: Stock Market News

Yahoo Inc. shares tumbled 3.6% Monday as investors digested news of the departure of the company’s chief marketing officer Kathy Savitt on Friday, the latest in a string of exits by senior managers from the internet company. Savitt, who was one of Chief Executive Marissa Mayer’s first hires in 2012, is leaving the company to join Hollywood studio STX Entertainment. The news came a week after the company said chief accounting officer Aman Kothari was leaving. “Accelerating high profile executive departures suggest pressure on Ms. Mayer may be increasing,” SunTrust Robinson Humphrey said in a note. “However, at current share prices, the market likely is pricing in the worst-case scenario.” Yahoo has yet to decide whether to proceed with its planned spin-off of a stake in Alibaba Group Holdings Inc. , after it was told by the IRS that it would not gain tax-free status for the deal. Adding to the downdraft Monday, a Barron’s story said Alibaba could fall another 50% as the Chinese economy struggles and the company’s loses market share to e-commerce rivals, among other factors. Alibaba, in a lengthy response, slammed the Barron’s piece. Alibaba shares fell 3.5%. Yahoo and Alibaba shares are down 40% in the year so far, while the S&P 500 has lost about 6%.

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IBM Corp. launched an Internet of Things division on Monday that will be anchored by its Watson cloud-computing technology and help fuel the adoption of smart-city technologies. The team will be led by Harriet Green, the former CEO of British global travel company Thomas Cook Group. She will oversee a team of more than 2,000 consultants, researchers and developers, who will help clients integrate data from a wide number of sources, including The Weather Company, mobile device chip manufacturer ARM and wireless carrier AT&T , across IoT. This includes efforts to make cities smarter, to transform automobile and electronic manufacturing and safeguard food and water supply chains. In March, IBM committed to investing $3 billion over the next four years in industry-specific cognitive computing technologies and cloud storage. Shares of IBM fell 0.9% to $146.08 in recent trade. They are down 12.5% over the last three months, underperforming the broader Dow Jones Industrial Average, which is down 8.5%.

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Wearable device shipments are expected to nearly triple this year to 76.1 million units from 28.9 million in 2014, according to a new report from industry tracker IDC. By 2019, IDC expects worldwide shipments of both basic and smart wearables, such as Fitbit fitness bands and Apple Inc.’s watch, to reach 173.4 million units, representing a five-year compound annual growth rate of nearly 23%. The acceleration is expected to come from an influx of smart wearable devices that are capable of running third-party apps. Currently, Apple Watch has the largest market share among the smart wearable devices at 58.3%. Google Inc.’s Android Wear has a 17.4% share, while Pebble OS rounds out the top three at 8.7%.

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

U.S. stocks opened little changed on Monday as uncertainty over the Federal Reserve’s policy decision due this week kept investors on the sidelines. The S&P 500 opened flat at 1,960. The Dow Jones Industrial Average opened unchanged at 16,427. The Nasdaq Composite began the day up 6 points, or 0.1% at 4,828.

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