Category: Stock Market News

Ecuador’s government declared a state of emergency in the wake of a deadly clash at a copper mine, news reports said Thursday. One policeman was killed and several security officers were wounded as protesters attacked a mine run by ExplorCobres, Reuters reported. Roughly 60 people, believed to be part of the Shuar group of indigenous people, attacked the Chinese-backed copper exploration project as they say it’s encroaching on their lands, according to the Associated Press. Troops were moving into the Amazonian region in response to the attack, reports said. Ecuador’s President Rafael Correa has been pushing for development in the country’s minerals industry.

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 Gilead Sciences Inc. slipped while Merck & Co. rose in the extended session Thursday after a jury awarded Merck billions in royalties over a hepatitis C drug dispute. In a patent lawsuit against Gilead, a federal jury in Delaware awarded Merck $2.54 billion in royalties over Gilead’s Sovaldi and Harvoni hepatitis C drugs, according to Reuters. Gilead shares fell 1.9% to $74.12, while Merck shares advanced 1.2% to $63.10 after hours.

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

Agios Pharmaceuticals Inc. shares fell after the drug developer said it is no longer pursuing a second drug candidate to treat a rare form of anemia. Agios shares dropped 19% to $45.55 after hours. The company said it will no longer develop the AG-519 treatment for pyruvate kinase deficiency, an inherited condition where gene mutations from each parent cause an accelerated destruction of red blood cells, after the Food and Drug Administration put a clinical study of the drug on hold. Agios said the decision does not affect the development of another drug candidate, AG-348, for the condition.

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

Sabre Corp. stock gained about 1.4% in late trading Thursday after the software company announced it was promoting Sean Menke to president and chief executive. Menke, who was previously president of Sabre Travel Network, the company’s largest business, will take over on New Year’s Eve for Tom Klein, who announced his pending departure in June. Menke has been at Sabre since 2015 after previously serving as CEO for Frontier Airlines. Sabre software is used by airlines, hotels and other travel and hospitality companies to handle reservations, operations and other functions. Sabre shares moved to $25.79 in after-hours action after closing with a 2.6% decline at $25.43.

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

Jabil Circuit Inc. shares rallied in the extended session Thursday as the electronics supply chain company topped Wall Street estimates for the quarter. Jabil shares surged 11% to $23.90 after hours. The company reported adjusted earnings of 69 cents a share on revenue of $5.1 billion for the fiscal first quarter. Analysts surveyed by FactSet had estimated 64 cents a share on revenue of $4.91 billion. For the second quarter, Jabil sees adjusted earnings of 35 cents to 57 cents a share on revenue of $4.2 billion to $4.5 billion. Analysts expect earnings of 46 cents a share on revenue of $4.36 billion.

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

Adobe Systems Inc. shares were volatile in Thursday’s extended session after the software company turned in quarterly earnings ahead of Wall Street’s estimates. Adobe reported fourth-quarter earnings rose to $399.6 million, or 80 cents a share, from $222.7 million, or 44 cents a share, a year earlier. On an adjusted basis, the maker of Photoshop, Illustrator design software and PDFs would have earned 90 cents a share. Revenue grew to $1.61 billion from $1.31 billion. Analysts surveyed by FactSet had forecast adjusted earnings of 86 cents a share on revenue of $1.59 billion. Adobe shares were up 0.4% after hours.

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

President-elect Donald Trump has approached actor Sylvester Stallone about taking a top arts-related position in the new administration, according to a report in the Daily Mail. The likely position would be chairman of the National Endowment for the Arts, the Daily Mail said.

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 said Thursday afternoon that it had reached a $38 million settlement with the federal government over sales and marketing practices of two of its subsidiaries, Forest Laboratories LLC and Forest Pharmaceuticals Inc. The federal government had been investigating these practices between 2008 to 2011 for three Forest products — Bystolic, Savella and Namenda — over alleged lack of controls over payments made to doctors for conducting speaker programs, Allergan said, with the time period in question occurring prior to Allergan’s acquisition of the companies. The $38 million will be paid to the federal government and any settling states for all civil claims, and Forest Laboratories previously recorded charges for the settlement’s cost, Allergan said. Allergan shares have dropped 38.4% year-to-date, compared with a 10.8% 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

Economic commentator Lawrence Kudlow has emerged as a leading candidate to chair the White House Council of Economic Advisers, The Wall Street Journal reported, citing people familiar with the transition. Kudlow, a supply sider, helped to shape President-elect Donald Trump’s tax proposals. Kudlow declined to comment on any discussion he has had with the Trump transition on Thursday, but he said he was impressed by the team being assembled for the new administration, the report said.

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

Gold futures dropped nearly 3% Thursday to settle at their lowest level since early February as the Federal Reserve’s U.S. interest-rate hike and the potential for more aggressive moves in the new year fueled a rally in the dollar. February gold fell $33.90, or 2.9%, to settle at $1,129.80 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