Category: Stock Market News

Donald Trump tweeted Monday night that he will announce his pick for secretary of state Tuesday morning. Exxon Mobil Corp. CEO Rex Tillerson is widely expected to be the nominee, although his close ties to Russia have drawn fire from critics and could complicate his potential Senate confirmation. Two onetime contenders for the position, former New York Mayor Rudy Giuliani and former senator and 2012 presidential nominee Mitt Romney, are apparently no longer in the running.

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

Privately held Space Exploration Technologies Corp. has delayed its first manned NASA launch to mid-2018, a delay of about half a year, The Wall Street Journal reported late Monday. The company, led by Tesla Motors Inc. CEO Elon Musk, has reported the delay to NASA earlier this year and confirmed it on Monday, the newspaper said. The delay comes roughly three months after a SpaceX’s Falcon 9 rocket exploded during a prelaunch test.

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

Quest Diagnostics Inc. said late Monday it is investigating a possible hacking of its network that could have affected thousands of accounts. The provider of diagnostic lab services said that “an unauthorized third party” accessed the health information of about 34,000 individuals using the company’s MyQuest by Care360 app on Nov. 26. Quest said data accessed included “name, date of birth, lab results, and in some instances, telephone numbers” but not social security numbers, credit card information, insurance, or financial information. The company said it has contacted those affected by the breach, and has addressed the vulnerability in the app. Quest shares declined 0.4% to $91.39 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

Boeing Co.’s board of directors has increased the company’s quarterly dividend by 30% to $1.42 a share, the aircraft maker said in a statement late Monday. The board also authorized a new $14 billion share buyback program, Boeing said. The company’s dividend will be payable March 3 to shareholders of record Feb. 10. In addition, Boeing said it is done with share buybacks this year, having bought $7 billion worth of its shares using half of a $14 billion authorization approved last December. The new share buyback program announced Monday replaces the existing one and brings the authorization back up to $14 billion, Boeing said. The company expects to start buying its shares in January and the repurchases under the new authorization are likely to take place over the next 24 to 30 months, the company said. Boeing shares rose 1.1% in late trading Monday after ending the regular session up 0.4%.

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 California insurance regulator announced on Monday that it was investigating new allegations by whistleblowers of fraud and misconduct at Wells Fargo The allegations were made by former Prudential Insurance Co. employees who have filed a lawsuit saying they were fired in retaliation for bringing reporting that Wells Fargo employees signed up customers for insurance policies from Prudential without the customers’ knowledge. Prudential has a partnership with Wells Fargo to sell insurance products to the bank’s customers. Wells Fargo previously admitted in a settlement with federal regulators and the California Attorney General that two million unauthorized accounts for its consumers were created by thousands of Wells Fargo employees.

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

VeriFone Systems Inc. shares climbed higher in the extended session Monday after the payment card reader company topped Wall Street estimates for the quarter but its outlook fell short of consensus targets. VeriFone shares rose 1.6% to $16.70 after hours. The company reported adjusted fiscal fourth-quarter earnings of 30 cents a share on revenue of $464 million. Analysts surveyed by FactSet had estimated 29 cents a share on revenue of $460.9 million. Looking ahead, VeriFone sees adjusted fiscal first quarter earnings of 20 cents a share on revenue of $446 million, and adjusted earnings of $1.35 to $1.39 a share on revenue of $1.9 billion to $1.92 billion for the year. Analysts expect 36 cents a share on revenue of $470.7 million for the first quarter, and $1.59 a share on revenue of $2 billion for the 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

Valeant Pharmaceuticals International Inc. on Monday said three high-level executives are leaving the company, including the former chief financial officer. Rob Rosiello, who stepped down in August as CFO but stayed with the Valeant, is quitting along with Anne Whitaker and Ari Kellen, both executive vice presidents and company group chairmen. The company also named William Humphries as executive vice president of dermatology, effective Jan. 2. The pharmaceutical company’s stock skidded 86% in 2016 in the wake of a drug-pricing scandal. Valeant shares edged up 0.3% 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

Viacom Inc. said Monday that it has stopped exploring a potential merger with CBS Corp. , after Sumner Redstone’s National Amusements Inc. withdrew its support. The media giant said it has dissolved the special committee that it had formed to evaluate a potential merger. Separately, the company named Bab Bakish as its chief executive officer, effective immediately; Bakish was acting CEO since Nov. 15. “I am very excited by the strategy Viacom is pursuing under Bob’s leadership, as well as the relentless hard work and passion he has demonstrated not only in his fast start at the helm but in his many years at the company,” said Shari Redstone, vice chair of the board. Viacom’s stock plunged 9.5%, the biggest one-day selloff in 10 months, while CBS shares slipped 0.8%. Viacom’s stock has not tumbled 15% year to date, while the S&P 500 has gained 10%.

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 asked Goldman Sachs President Gary Cohn to be director of the National Economic Council, Trump’s transition office said Monday. Trump said Cohn would help make policy that would grow workers’ wages and “stop the exodus of jobs overseas.” Cohn has worked at Goldman since 1990. The NEC sets the economic agenda for the White House.

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

Oil futures settled Monday at their highest level in nearly 17 months after oil producers outside of the Organization of the Petroleum Exporting Countries agreed to cut back production by 558,000 barrels a day. The reduction will be in addition to the 1.2 million-barrel reduction OPEC members plan to implement on Jan. 1. January West Texas Intermediate crude rose $1.33, or 2.6%, to settle at $52.83 a barrel on the New York Mercantile Exchange.

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