API data reportedly show U.S. crude supply down 958,000 barrels

The American Petroleum Institute late Tuesday reported that crude supplies fell 958,000 barrels for the week ended July 3, according to sources. Analysts surveyed by Platts forecast a 1.1 million-barrel decline. August crude was at $52.67 a barrel on Globex, up from the $52.33 close on Nymex. The more closely watched Energy Information Administration report is due Wednesday.

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From:: Stock Market News

Container Store shares jump after posting smaller-than-expected loss

NEW YORK (MarketWatch) — Container Store Inc. shares jumped 6% after the retailer of storage-organization systems reported better-than-expected first-quarter results and kept its full-year profit outlook. The company said Tuesday its first-quarter loss widened to $5.2 million, or 11 cents a share, from $3.58 million, or 7 cents, a year earlier. The most recent quarter’s result was narrower than the 13-cents FactSet consensus loss estimate. Sales fell 2.1% to $169.8 million, weighed down by the stronger dollar. First-quarter comparable sales fell 0.9% due to the negative impact of the Wet Coast port delays. Still, same-store sales topped the retailer’s outlook for sales to decline 3% to 4%. Container Store said it expects per-share profit of 30 cents to 38 cents a share for the full year on sales of $800 million to $815 million. Analysts surveyed by FactSet were looking for profit of 32 cents a share on sales of $815.8 million. In April, the company slashed the full-year guidance below the consensus estimate at the time.

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From:: Stock Market News

Chesapeake Energy shares have best day in 6 months

Chesapeake Energy Corp. had its best day in six months Tuesday as its shares surged 10% to lead the S&P 500. Goldman Sachs last week said the natural gas and oil producer has the potential to rise 43.2% from its current level. Shares of Chesapeake added $1.04 a share to close at $11.46 but are down 60% for the year.

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From:: Stock Market News

U.S. stocks close higher, erasing early losses

U.S. stocks finished with gains on Tuesday following reports that Greece has proposed an interim financing until the end of July. The main indexes had spent most of the day in the red, weighed down by worries over the eurozone and China’s falling stock markets. The S&P 500 closed up by 12.59 points, or 0.6%, to 2,081.35, while the Dow Jones Industrial Average gained 93.33 points, or 0.5%, to end at 17,776.91, according to preliminary FactSet data.

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From:: Stock Market News

Gold down 1.8% as other metals plunge

Gold futures settled lower on Tuesday, pressured by strength in the U.S. dollar as investors showed disappointment over the metal’s failure to get a haven-related boost from financial uncertainty in Greece. August gold dropped $20.60, or 1.8%, to settle at $1,152.60 an ounce on Comex. September silver also fell 5%. September copper lost 3.6% to end at $2.447 a pound to log a six-year low.

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From:: Stock Market News

Are “Smart” Appliances a Smart Buy? Here’s What to Try and What to Skip

By Carley Knobloch

When I think, “Smart Home,” I imagine futuristic appliances that anticipate my every need — helping me get dinner ready, unlocking the door as I approach, or even helping me wake up in the morning with a cup of coffee. Crazily, these appliances are available right now, and they use the power of your home’s wireless network to let you operate them via app, and talk to other things in your home. They also usually come with a steep price tag, leaving many of us wondering if the expenses is truly worth it. Are these wifi appliances going to make my life easier? And will they truly do all that they promise? Let’s look at a few categories, and I’ll give you my opinion about whether you should splurge, or just stick to your “dumb” appliances for a little while longer.

Honeywell

Photo courtesy of Honeywell

Thermostats? 100% yes. Having a wireless thermostat is fantastic on a few fronts. One, it really helps you take control of how much money you spend heating and cooling your home. The data is all there for you to see, and tweak over time, to save you money. Two, you can operate a wifi thermostat remotely with a smartphone app, so if you can set the house to “away” mode while you’re on vacation, and have it warm up for you while you’re on your way home from the airport. Lastly, you know those moments when you’re lying in bed, and it’s too hot or cold, but you don’t want to get up to change the temperature? Enough said.

Dacor

Photo courtesy of Dacor

Ovens? No thanks. While I love to see innovation in kitchen appliances, so far the applications for a wifi-enabled oven are that I can pre-heat it while I’m away from home with it’s app (which, I dunno, sounds kind of scary to me), and that it might even have an internet-connected screen on it that can find recipes (I have screens that can handle that already, thank you). I’m feeling like you can pass on paying the premium price for a wifi-enabled oven range and invest elsewhere.

Belkin Mr. Coffee

Photo courtesy of Belkin

Coffee Machines? Hmmm… I think this one entirely depends on how important it is that you know the second your coffee is brewed, and that you get it done with as little effort as possible. The Mr. Coffee machine by Belkin, for example, has an app that will let you start and modify your brewing process, schedule a brewing schedule, and show you how much longer until your cuppa is ready to sip. Of course most coffee machines have a timer on the front, so your morning cup happens without any additional technology. I guess having a wifi coffee maker just puts the controls in the environment you’re already in (your phone’s home screen). Even if you’re coffee-obsessed, I just don’t know if it’s all that necessary.

August Lock

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From:: HGTV

Obama discussed Greek crisis with Merkel and Tsipras

WASHINGTON (MarketWatch) – President Barack Obama discussed the Greek crisis early Tuesday in separate phone calls with German Chancellor Angela Merkel and Greek Prime Minister Alexis Tsipras, White House spokesman Josh Earnest said. Earnest said that Obama repeated that the only way to keep Greece in the eurozone is to complete work on a package of reform and financing. Earnest said that the White House is aware that reaching a deal could be “quite complicated.”

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From:: Stock Market News

EIA lifts WTI oil-price outlook, cuts Brent

The U.S. Energy Information Administration raised its 2015 forecasts for West Texas Intermediate crude prices and U.S. oil production, in a monthly report issued Tuesday. The government agency said it expects WTI prices to average $55.51 a barrel this year, up from a previous forecast of $55.35. Brent crude is forecast at $60.22 this year, down from a previous forecast of $60.53. The EIA said it expects U.S. crude-oil output of 9.47 million barrels a day this year, up from a prior estimate of 9.43 million barrels. At last check, August crude was down 63 cents, or 1.2%, at $51.90 a barrel.

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From:: Stock Market News

Greece must offer reforms to secure bailout: Germany’s Merkel

Greece must agree to economic reforms in order to secure new aid, German Chancellor Angela Merkel said Tuesday as she arrived in Brussels for an emergency summit of eurozone leader, according to news reports. “There is still no basis for negotiations in the [European Stability Mechansim] framework,” Merkel said, according to Reuters, referencing the eurozone’s permanent bailout facility. “Without solidarity and reforms it’s not possible to go where we want to go,” Merkel said, according to the report, adding that the negotiations are “not a matter of weeks but of a few days.”

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From:: Stock Market News

Depomed rejects third buyout offer from Horizon

Depomed Inc. has rejected a third buyout proposal from Horizon Pharma plc , made early Tuesday. Depomed said in a press release that Horizon’s all-stock bid for $29.25 a share is “identical in all material respects” to its first proposal, made May 27 and reiterated on June 12. Depomed pointed out that its shares reached a high of $28.16 on their own on April 27, prior to Horizon’s first bid, and close to its current proposal. Shares of Depomed, which have topped the $35 mark since Horizon first approached the company, were up 35% in recent action to $27.80. Horizon shares were off nearly 6% to $32.52.

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From:: Stock Market News