Foreclosures | Mortgages | Financing
Gold futures fell Tuesday for a second session in a row, pressured by strength in the U.S. dollar and expectations for an interest-rate hike at next week’s Federal Reserve meeting. February gold fell $6.40, or 0.5%, to settle at $1,170.10 an ounce after losing 0.1% on Monday.
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.
From:: Stock Market News
The U.S. Energy Information Administration on Tuesday raised its price forecasts for Brent and West Texas Intermediate crude oil for 2016 and 2017. In its monthly energy outlook report, the government agency forecast WTI prices at $43.07 a barrel for this year and $50.66 for next year, up 0.6% and 1.5%, respectively, from the November forecasts. Brent crude is forecast at $43.46 this year and $51.66 next year, up 0.4% and 1.5%, respectively from the previous forecasts. The EIA also raised its estimates on U.S. crude production to 8.86 million barrels a day for this year and 8.78 million barrels a day for 2017. January WTI crude traded at $50.77 a barrel, down $1.02, or 2%. February Brent crude shed $1, or 1.8%, to $53.94 a barrel.
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.
From:: Stock Market News
Shares of Chipotle Mexican Grill Inc. tumbled 5.7% in active morning trade Tuesday, enough to make them the biggest decliners in the S&P 500 , after reports that the fast-casual restaurant chain provided a downbeat sales outlook. Volume spiked to 1.6 million shares, which is already above the full-day average of 1.4 million shares. Speaking at the Barclays “Eat, Sleep, Play–It’s Not All Discretionary” conference, Chipotle management said it was nervous about meeting sales guidance, as sales haven’t recovered as much as expected, according to tweets from Bloomberg reporter Shelly Banjo. The company also said it would need to raise prices to cover minimum wage increases. Bloomberg also reported that co-Chief Executive Steve Ells wasn’t happy with customer service at its restaurants as lines have slowed down. The comments come as Chipotle struggles to recover from a sales decline in the wake of an E. coli outbreak at its restaurants last year. The stock has tumbled 22% year to date, while the S&P 500 has gained 7.8%.
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.
From:: Stock Market News
U.S. stocks fought to take flight on Tuesday with the Dow industrials trying for a fresh record a day after closing at an all-time high in the previous session. The Dow Jones Industrial Average opened little-changed at 19,221, the S&P 500 index climbed 2 points, or 0.1%, at 2,206, while the Nasdaq Composite Index , led the way among stock benchmarks, up 11 points, or 0.2%, at 5,321. In corporate news, Toll Brothers reported a fourth-quarter profit of 67 cents a share from 80 cents last year. Meanwhile, oil traded sharply lower, threatening to snap a four-session win streak in the wake of the deal struck by members of the Organization of the Petroleum Exporting Countries to curb oil output and stabilize the commodities price.
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.
From:: Stock Market News
Shares of Boeing turned down 1% in premarket trade Tuesday, after President-elect Donald Trump tweeted that an order for the aerospace giant to build a new Air Force One should be canceled because of rising costs. Just prior to the tweet, the stock was trading unchanged. “Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!,” the tweet said. About 18 minutes after the tweet was sent, it had 12,000 likes and 4,300 retweets. Boeing’s stock has gained 5.2% year to date through Monday, while the Dow Jones Industrial Average has rallied 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.
From:: Stock Market News
Nike Inc. was downgraded on Tuesday to market perform from outperform at Cowen & Company based on concerns that share loss to Adidas AG and Under Armour Inc. could accelerate. Preference for Nike apparel has declined to 44% from 55%, according to the Cowen Consumer Tracker survey, while preference for Adidas and Under Armour is growing among 18-to-34 year old men and women. Analysts also believe promotions in North America and international inventory levels “appear elevated,” noting 25% discounts on Nike apparel at Dick’s Sporting Goods Inc. , Kohl’s Corp. and other retailers. “We see a high probability that Nike reduces second-half fiscal year 2017 guidance or guides third-quarter below consensus, and we view sell-side estimates (75% net buy rated) as too high into 2018,” the note said. Nike shares are down 1.1% in premarket trading, and down 17% for the year so far. The Dow Jones Industrials Average is up 10.3% for 2016 to date.
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.
From:: Stock Market News
Sage Therapeutics Inc. shares rose 8.1% in pre-market trade Tuesday after the company said it had an expedited development plan for its postpartum depression treatment. The new plan for SAGE-547 comes after a formal meeting with the U.S. Food and Drug Administration and would support a potential approval filing with the agency in 2018, the company said. The company expects to release topline data from postpartum depression registration trials in the second half of next year. SAGE-547 was classified as a breakthrough therapy with the FDA in September, which allows the drug to be developed and possibly approved faster. Sage Therapeutics shares dropped 11.1% year-to-date, compared with a 7.9% 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.
From:: Stock Market News
Altria Group Inc. said Tuesday that Philip Morris International Inc. has submitted a modified risk tobacco product application for an electronically heated product with the U.S. Food and Drug Administration. The FDA is now expected to decide whether to accept the application for substantive review, Altria said in a statement. If approved, Altria would have an exclusive right to sell the heated tobacco product in the U.S. Heated tobacco products heat tobacco enough to produce an inhalable steam, but do not reach the point of combustion that requires inhaling smoke into the lungs. Altria shares were slightly lower premarket, but have gained 9% in the year to date, while the S&P 500 has gained 7.9%.
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.
From:: Stock Market News
Shares of Apple Inc. climbed 1% in premarket trade Tuesday, after Chief Executive Tim Cook tried to reassure investors that the Apple Watch was selling well. In an email to Reuters, Cook said Apple Watch sales to consumer set record in holiday week, and that it was doing great and looks to be one of the most popular holiday gifts, and that sales growth was off the charts. However, Cook did not provide actual sales data. His email followed a report by IDC that third-quarter Apple Watch shipments plunged 71% from a year ago. Apple’s stock has gained 3.7% year to date through Monday, while the SPDR Technology Select Sector ETF has climbed 10.1% and the Dow Jones Industrial Average has run up 10.3%.
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.
From:: Stock Market News
Equinix Inc. said Tuesday it has agreed to acquire a portfolio of 24 data center sites from Verizon Communications Inc. in an all-cash deal valued at $3.6 billion. The sites consist of 29 data center buildings across 15 metro areas. The deal will increase interconnection in the U.S. and Latin America, allow the company expand in new markets in Bogota, Culpeper and Houston, and move the company into enterprise and strategic sectors, including government and energy. Equinix is an operator of data centers in the America, Europe and the Asia-Pacific region. The deal is expected to close by mid-2017. Equinix shares were slightly higher premarket, and are up 10% in the year to date, while the S&P 500 has gained 7.9%.
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.
From:: Stock Market News