Category: Stock Market News

Gold prices dropped to settle lower Tuesday, following a brief reprieve Monday, as the dollar strengthened and stocks edged higher. Gold for February delivery settled down $9.10, or 0.8%, at $1,133.60 an ounce as the U.S. Dollar index ticked up 0.1% to its highest levels since December 2002. On the other hand, silver for March delivery settled up 2.8 cents, or 0.2%, at just under $16.12 an ounce.

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

AMC Entertainment Holding Inc.’s proposed $1.2 billion buyout of Carmike Cinemas Inc. was approved Tuesday by the Department of Justice’s antitrust division, with certain conditions. AMC will have to sell off theaters in 15 local markets, sell most of its holdings and give up governance rights in cinema media company National CineMedia LLC and transfer 24 theaters to the network of Screenvision LLC to close the deal. “Moviegoers across the United States have benefitted from head-to-head competition between AMC and Carmike that has kept ticket prices in check and delivered a higher quality movie experience,” said Acting Assistant Attorney General Renata Hesse of the DOJ’s antitrust division. “Today’s settlement will ensure that movie theatre competition is preserved in 15 local markets where AMC and Carmike currently compete.” AMC’s stock rose 0.9% while Carmike shares eased 0.3%. Year to date, shares of AMC have rallied 39% and of Carmike have soared 45%, while the S&P 500 has gained 11%.

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

Allergan plc shares slumped 1.4% in morning trade Tuesday after the company announced a $2.9 billion cash deal to buy Acelity’s regenerative medicine company LifeCell. The company said that its portfolio, combined with LifeCell’s regenerative medicines business, would provide “significant opportunity to enhance the overall product offering for plastic and geenral surgery customers globally.” Allergan said it expects LifeCell, which sells various products used for breast reconstruction and soft tissue repair, to generate about $450 million in revenue next year. As part of the acquisition Allergan will also get LifeCell’s New Jersey manufacturing space and R&D operations. The purchase is “both strategically and financially compelling to Allergan,” said CEO Brent Saunders, with the company citing statistics about the growing number of reconstructive breast surgeries and breast cancer’s prevalence. Allergan shares have dropped 39.2% year-to-date, compared with a 11.0% rise in the S&P 500 .

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

The Securities and Exchange Commission said it’s fined Morgan Stanley & Co. $7.5 million for allegedly using trades involving customer cash to lower the firm’s borrowing costs. The SEC order said from March 2013 to May 2015, Morgan Stanley’s U.S. broker-dealer used transactions with an affiliate to reduce the amount it was required to deposit in its customer reserve account. The affiliate used margin loans from the U.S. broker-dealer to finance the costs of hedging swap trades with customers, the SEC said. Morgan Stanley didn’t admit or deny the findings.

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

Panera Bread Co. said Tuesday that it has set new animal welfare goals for its broiler chickens, to be met by 2024. The goals, which are in line with the Global Animal Partnership’s Broiler Chicken Standard, include providing birds with more space and better environments. Panera made a commitment in Nov. 2015 to use only cage-free eggs by 2020. The restaurant chain says that as of 2016, all of the poultry in its sandwiches and salads are raised without antibiotics, all of its pork products including ham and bacon served in sandwiches and salads are antibiotic-free and raised without the use of gestation crates, and 95% of its beef is grass-fed and free-range. Panera shares are down 0.2% in Tuesday trading, but up 8.6% for the past year. The S&P 500 index is up 13.3% for the last 12 months.

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

U.S. stocks opened higher on Tuesday as the Dow Jones Industrial Average climbed nearer to the psychologically important 20,000 level. The S&P 500 index gained 5 points, or 0.2%, to 2,267. The Dow advanced 48 points, or 0.2%, to 19,934, trading above its previous closing record. The Nasdaq Composite Index added 14 points, or 0.3%, to 5,473. Investors’ appetite for risky assets remained intact despite a series of attacks in Turkey and Germany. BlackBerry moved higher after the handset maker reported narrowing losses for the third quarter. Darden Restaurants , owner of several restaurant chains including the Olive Garden, saw its shares rise after reporting a rise in same-restaurant sales for the second quarter. Rising oil prices also helped boost energy shares.

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

Chesapeake Energy Corp.’s stock climbed 1.1% in premarket trade Tuesday, after the oil and gas exploration company said it agreed to sell a portion of its Haynesville Share assets for $465 million to an affiliate of Covey Park Energy LLC. The sale of the northern-Louisiana assets include 41,500 net acres and 326 wells, which are currently producing about 50 million cubic feet of gas per day. The company expects the deal to close in the first quarter of 2017. “Upon closing, this strong bid for our second Haynesville package, along with our recent new issue and tender, will position Chesapeake with significant liquidity as we begin a new year,” said Chief Executive Doug Lawler. The stock has soared 62% year to date through Monday, while the SPDR Energy Select Sector ETF has run up 26% and the S&P 500 has gained 11%.

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

Amazon.com Inc. said Tuesday that it will add more than 1,000 full-time jobs in two new Illinois fulfillment centers in Aurora. One will span nearly one million square feet and handle small items such as books and consumer goods. The other will be about 400,000 square feet and handle larger items like big-screen televisions. The e-commerce giant already has centers in Edwardsville, Joliet and Romeoville with another under construction in Monee. Amazon has announced eight fulfillment centers in Illinois over the past two years. Once the latest facilities open, the company will have more than 7,000 full-time Illinois staffers. Amazon shares are up 0.3% in premarket trading, and up 15.3% for the past 12 months. THe S&P 500 index is up 12.8% for the last year.

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

Shares of Rite Aid Corp. shot up 6% in active premarket trade Tuesday, after the drug store chain announced a deal with Walgreens Boots Alliance Inc. to sell 865 Rite Aid stores to Fred’s Inc. for $950 million. With volume of about 2.6 million shares, Rite Aid’s stock was the most actively traded ahead of the open. Rite Aid, which is in the process of being acquired by Walgreens, said the deal is subject to approval by the Federal Trade Commission. In October, Walgreens and Rite Aid pushed out the deadline to close their $9.4 billion merger to next year, citing delays in selling stores the companies were required to divest to get regulators to approve the merger. Walgreens said it is in talks with the FTC regarding the deal, and is working toward closing its Rite Aid acquisition in early 2017. Walgreens’ stock rose 1.4% in premarket trade, while Fred’s shares were still inactive. Rite Aid’s stock has gained 4.2% year to date through Monday, while Walgreens’ shares have tacked on 1.1% and the S&P 500 has gained 11%.

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

Shares of Tesaro Inc. rallied 2.2% in premarket trade Tuesday, after the biopharmaceutical company said its new drug application (NDA) for its niraparib cancer treatment was granted priority review by the Food and Drug Administration. The company said the FDA set a target action date of June 30, 2017. “FDA’s acceptance of the niraparib NDA with a Priority Review designation is an important milestone for TESARO, and represents a significant step in our efforts to bring meaningful therapies to women with ovarian cancer,” said Chief Operating Officer Mary Lynne Hedley. The stock has more than doubled year to date through Monday, while the SPDR S&P Pharmaceuticals ETF has tumbled 22% and the S&P 500 has gained 11%.

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