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Treasury yields maintained gains on Friday after the jobs report. The 10-year Treasury note yield was up by 0.8 basis point to 2.875%. The 2-year note yield picked up 1.4 basis point to 2.875%. The 30-year bond yield rose 1.5 basis point to 3.147%. The U.S. economy added 313,000 jobs in February, the biggest monthly gain since mid-2016. While, average hourly earnings rose by a muted 0.1%. Economists surveyed by MarketWatch were expecting the U.S. economy to add 222,000 jobs and for the unemployment rate to drop to 4.0%. Average hourly earnings were forecast to slow to 0.2%, from 0.3% on March.

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From:: Stock Market News

U.S. stock futures climbed firmly higher Friday morning after the jobs report for February came in better than forecast. Dow Jones Industrial Average futures rose 151 points, or 0.6%, to 25,072, while those for the S&P 500 futures advanced 14 points, or 0.5%, at 2,759, while Nasdaq-100 futures rose 46 points, or 0.7%, to 7,048.50. The U.S. created 313,000 new jobs in February, the biggest gain since mid-2016 and a reflection of the strongest labor market in two decades. Economists polled by MarketWatch had predicted a 222,000 increase in nonfarm jobs. The unemployment rate was unchanged at 4.1%. Hourly pay rose 4 cents, or 0.1%, to $26.75 an hour, the government said Friday.

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From:: Stock Market News

WASHINGTON (MarketWatch) – The U.S. created 313,000 new jobs in February, the biggest gain since mid-2016 and a reflection of the strongest labor market in two decades. Economists polled by MarketWatch had predicted a 222,000 increase in nonfarm jobs. The unemployment rate was unchanged at 4.1%. Hourly pay rose 4 cents, or 0.1%, to $26.75 an hour, the government said Friday. The 12-month increase in worker pay slipped to 2.6% from 2.8%, however. The average workweek rose 0.1 hours to 34.5 hours. January job gains were raised to 239,000 from 200,000. The increase in jobs in December was revised up to 175,000 from 160,000.

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From:: Stock Market News

Shares of Cardinal Health Inc. said Friday it received notice that TRC Capital Corp. has launched a “mini-tender” to buy up to two million Cardinal shares at $65.85 a share. The tender offer price, which represents about 0.6% of the shares outstanding, is 6.5% below Thursday’s closing price, and 4.5% below the March 2 closing price, the last day before the tender offer was commenced. Cardinal recommended investors not to sell to TRC given the offer’s discount to current prices, and shareholders who have already tendered their shares can withdraw them at any time before 12:01 a.m. ET on April 4. The stock, which was still inactive in premarket trade, has soared 19.6% over the past three months, while the SPDR Health Care Select Sector ETF has gained 2.7% and the S&P 500 has advanced 3.3%.

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From:: Stock Market News

Dana Inc. said Friday it agreed to combine with GKN Plc’s Driveline division in a deal valued at about $6.1 billion, including debt. Under terms of the deal, GKN will receive cash proceeds of $1.6 billion, 133 million newly issued Dana shares valued at about $3.5 billion at the March 8 closing price and the assumption of about $1.0 billion in pension liabilities. “This transformative and strategic transaction solidifies Dana as a world leader in vehicle drive systems and establishes a leading position in electric propulsion, which we see as the future of vehicle drivetrains,” said Dana Chief Executive James Kamsickas. After closing, which Dana expects in the second half of 2018, the company will be based in the U.K., the stock will continue to trade on the NYSE with the symbol “DAN” and Dana shareholders will own 52.75% of the company. The deal is expected to add to Dana’s adjusted earnings per share in 2018, and deliver annual cost synergies of $235 million within three years after closing. Dana’s stock was still inactive in premarket trade and GKN’s shares rose 0.6% in U.K. trade. Over the past 12 months, Dana’s stock has run up 40% while the S&P 500 has gained 16%.

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From:: Stock Market News

Shares of Big Lots Inc. tumbled 7.5% in premarket trade Friday, after the discount retailer beat profit expectations but reported a surprise decline in same-store sales. Net income for the quarter to Feb. 3 rose to $104.8 million, or $2.46 a share, from $90.1 million, or $1.99 a share, in the same period a year ago. Excluding non-recurring items, such as a expense of $4.5 million related to recent tax legislation, adjusted earnings per share came to $2.57, above the FactSet consensus of $2.44. Revenue increased to $1.64 billion from $1.58 billion, just shy of the FactSet consensus of $1.66 billion, while same-store sales declined 0.1%, compared with expectations of 1.3% growth. For 2018, the company expects EPS to rise to $4.75 to $4.95 from 2017 adj. EPS of $4.45. The FactSet 2018 EPS consensus is $4.97. Separately, the company said it increased its quarterly dividend 20% to 30 cents a share from 25 cents a share, with the new dividend payable April 6 to shareholders of record on March 23. The stock has shed 9.5% over the past three months through Thursday, while the SPDR S&P Retail ETF has slipped 0.4% and the S&P 500 has gained 3.3%.

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From:: Stock Market News

China Resources Beer Co. is in talks about potentially purchasing Heineken NV’s business in China, a transaction that could be worth more than $1 billion, Reuters reported , citing five people close to the talks. Heineken and other European brewers have been facing fierce competition from local brewers in emerging markets, including China, the world’s largest beer market by volume, said the report published Thursday. Details of the potential deal haven’t been finalized and a transaction may not go through, the sources said.

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From:: Stock Market News

Former President Barack Obama and his wife, Michelle, are in negotiations with Netflix Inc. [s; nflx] to produce an exclusive series of shows, the New York Times reported late Thursday. While little is known about the series, or its number of episodes, the Times said the Obamas were interested in telling inspirational stories. The series is not intended as a direct response to the Trump administration’s policies, sources told the Times. “President and Mrs. Obama have always believed in the power of storytelling to inspire,” Obama adviser Eric Schultz told the Times. “As they consider their future personal plans, they continue to explore new ways to help others tell and share their stories.” It is unclear how much the Obamas might be paid, but Netflix plans to spend close to $8 billion on original content in 2018, and has recently shelled out tens of millions of dollars to Hollywood heavyweights such as Ryan Murphy and Shonda Rimes to create new series.

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From:: Stock Market News

President Donald Trump will meet with North Korean leader Kim Jong Un by May, South Korea’s national security adviser Chung Eui-Yong announced late Thursday. A South Korean delegation met with Trump at the White House on Thursday with Kim’s invitation to meet, and an offer to suspend nuclear and ballistic missile tests. “I told President Trump that in our meeting, North Korean leader Kim Jong-un said he’s committed to denuclearization,” Chung said in a televised statement from the White house. The White House later confirmed the meeting, saying in a statement that Trump “will accept the invitation to meet with Kim Jong Un at a place and time to be determined. We look forward to the denuclearization of North Korea. In the meantime, all sanctions and maximum pressure must remain.” Stocks in Japan and South Korea immediately surged following the announcement.

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From:: Stock Market News

President Donald Trump will meet with North Korean leader Kim Jong Un in May, South Korea’s national security adviser Chung Eui-Yong announced late Thursday. A South Korean delegation met with Trump at the White House on Thursday with Kim’s invitation to meet, and an offer to suspend missile tests during talks.

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