Category: Stock Market News

General Electric Co.’s GE Digital unit announced Monday a deal to buy cloud-based field service management company ServiceMax for $915 million, as it expands its industrial-internet capabilities. “Improved productivity is critical for the Industrial Internet and digitizing field services is a cornerstone of a successful digital industrial strategy,” said GE Digital Chief Executive Bull Ruh. The deal is expected to close in January. GE’s stock, which slipped 0.6% in afternoon trade, has lost 2% year to date, while the Dow Jones Industrial Average has gained 8.2%.

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

Turkish lira has plunged to record lows against the dollar on Monday, along with other emerging-market currencies as hopes for massive fiscal stimulus pushed the U.S. dollar to 12-month high. On Monday, the dollar was trading at TRY3.2924, up 1.2%. The iShares MSCI Turkey ETF has also been sold heavily after the election of Donald Trump as U.S. president last week. The ETF fell 2.4% on Monday and lost 8.2% since Nov 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.

…read more

From:: Stock Market News

PPerella Weinberg Partners and Tudor, Pickering, Holt & Co. said Monday they are planning to combine to create a financial advisor with more than $12 billion in assets under management. No terms were disclosed. The deal is expected to close in the fourth quarter. Perella’s founding investors will remain shareholders in the new entity and some will provide additional growth capital. The combined firm will have more than 650 employees and offices in New York, Houston, London, Denver, San Francisco, Dubai, Abu Dhabi and Calgary.

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 Square Inc. rose 4.6% Monday morning after the stock was upgraded to overweight from sector weight at Pacific Crest. The analysts said they believe Square will see a “consistent series of positive fundamental surprises” in the next year, including opportunities from Square Capital and a possible exit of Caviar, Square’s food delivery service. Overall the analysts have a bullish position on Square’s digital payments leadership and believe it could see additional upside from international expansion, partnerships and software additions such as instant deposit. The analysts set a $15 price target. Shares of Square have gained 11% month-to-date, compared to the S&P 500’s gain of 2%.

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 Monday as a bond-market selloff helped boost equities. The S&P 500 added 4.5 points, or 0.2%, to 2,168.94. The Dow Jones Industrial Average climbed 56 points, or 0.3%, to 18,899, a new intraday high. The Nasdaq Composite fell 3 points, or 0.1%, to 5,232, weighed down by a massive drop in Dynavax Technologies Corp.

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 Twitter Inc. were up 2% in premarket trade Monday after hedge fund Jana Partners disclosed a new 2.9 million share stake in the social media platform. Additionally, President-elect Donald Trumphad praised Twitter as “a great form of communication,” as well as other social media platforms, in a 60 Minutes interview Sunday. Shares of Twitter have gained 10% in the past month, compared to the S&P 500’s gain of 1.5%.

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

Avis Budget Group Inc. said Monday that it boosted its stock repurchase program by $250 million. The car rental company now has $400 million available to buy back its shares. Avis said it has bought back over $1 billion worth of its shares since August 2013. “We remain committed to returning a portion of our cash flow to our shareholders through buybacks, while maintaining a prudent capital structure and flexibility to execute on our strategic initiatives,” said Chief Executive Larry De Shon. The stock, which was indicated about 1% higher in premarket trade, has tacked on 4.8% year to date through Friday, while shares of rival Hertz Global Holdings Inc. has plunged 51% and the S&P 500 has gained 5.9%.

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.

…read more

From:: Stock Market News

Edgewater Technology Inc. said Monday it has finished a review of its strategic options and concluded that it is best to remain a standalone company. The consulting firm said it held talks with multiple parties regarding various alternatives. “Ultimately, the board unanimously determined that continuing to focus on the company’s strategic plan provides the best opportunity to enhance value for our stockholders,” Wayne Wilson, independent director said in a statement. Edgewater shares were not yet active in premarket trade, but are down 0.1% in the year to date, while the S&P 500 has gained 6%.

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 Harman International Industries Inc. soared 26% in premarket trade toward a one-year high Monday, after the auto parts maker agreed to be acquired by South Korea’s Samsung Electronics Co. Ltd. ina deal valued at about $8 billion. The stock was on track to open at the highest level since Nov. 6, 2015, but was 1.4% below the buyout bid of $112. If the gain holds, it would be the stock’s biggest one-day percentage jump, and the second-biggest price rally, since it went public in November 1986. The stock has lost 7% year to date through Friday, while the S&P 500 has gained 5.9%.

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.

…read more

From:: Stock Market News

Ocular Therapeutix Inc. shares surged as much as 13.5% in pre-market trade Monday after the company said its eye treatment had positive topline results in a late-stage clinical trial. The company said Dextenza, an insert intended to treat eye inflammation and pain after surgery, met primary efficacy endpoints for both. Dextenza failed to get Food and Drug Administration approval in late July, but Ocular said it planned to resubmit its application with the agency by the end of the year and would file for a post-surgical eye pain indication if approved. Ocular shares dropped 26.7% year-to-date, compared with a 5.9% 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.

…read more

From:: Stock Market News