Category: Stock Market News

The Dow Jones Industrial Average is headed for the biggest one-day rally in over four months, but that’s not quite enough to change the shorter-term technical outlook to positive from negative. The Dow, up 277 points at 18,165, was still about 51 points below its 50-day moving average, which many chart watchers use as a dividing line between shorter-term uptrends and downtrends. The Dow has closed below its 50-DMA since Sept. 9. Meanwhile, it was well above its 200-day moving average, which is viewed as a longer-term trend dividing line and currently extends to 17,779. The S&P 500 was up 1.7% at 2,121. It closed Friday (2,085.18) just above its 200-DMA (2,083.18), but was still well-below its 50-DMA (2,146.89) even with Monday’s rally. The Nasdaq Composite jumped 2% to 5,147, to sit comfortably between its 200-DMA (4,944.15) and 50-DMA (5,237.63). The NYSE Composite rose above its 200-DMA (10,356.18) Monday, after closing below it the previous three sessions.

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From:: Stock Market News

All 30 Dow Jones Industrial Average components are gaining ground Monday, including 21 that are up at least 1%, as the blue-chip barometer is on track to snap a seven-session losing streak with a bang. The Dow was up 264 points, 1.5%, which would be the biggest one-day point gain since June 29. The biggest percentage gainers Monday were shares of Goldman Sachs Group Inc. , which was up 2.6%. Behind Goldman, Microsoft Corp.’s stock surged 2.5% and J.P. Morgan Chase & Co. shares ran up 2.3%. The most active Dow stock was Apple Inc.’s , which rallied 0.9% on volume of 5.8 million shares.

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From:: Stock Market News

PetSmart Inc. said Monday that it is offering same-day delivery from PetSmart.com in 17 markets, including Los Angeles, San Francisco, Atlanta and Chicago. By mid-November, the service will come to eight additional areas including New York City and Philadelphia. The introduction coincides with the launch of a new PetSmert website with enhanced e-commerce capabilities.

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From:: Stock Market News

Dollar General Corp. said Monday that its stores will be open from 7 a.m. to 10 p.m. on Thanksgiving Day and normal business hours on Black Friday. The discount retailer said it has extended permanent store hours at select stores in the 43 states that it serves. Price specials will be available from Nov. 20 through Nov. 23, including Thanksgiving meal preparations, holiday decorations and gifts. Further promotions will be available through efforts like digital coupons, online savings, and 25% discounts on qualifying toy purchases of $75 or more through Dec. 24. For Veterans Day on Nov. 11, Dollar General will offer military service members, veterans and their families 11% off in-store and online. Dollar General shares are up 1.1% in Monday trading, and down 4.7% for the year so far. The S&P 500 Index is up 2% 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.

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From:: Stock Market News

Shares of Tesla Motors Inc. rose in morning trade Monday, but pared some of its premarket gains, after the electric car maker said it would start charging its newer customers to use its supercharging network depending on use. Tesla had made the change–the company has previously said use of its Supercharging network was free–ahead of the launch of its less expensive Model 3 vehicle. Tesla’s ordered after Jan. 1, 2017 will have access to 400 kWh–about 1,000 miles–of free Supercharging credits, but will have to pay after that. Tesla said the cost will be “less than a price of filling up a comparable gas car.” The company said the changes won’t affect Teslas ordered before Jan. 1, as long as delivery is taken before April 1, 2017. “We will release the details of the program later this year, and while prices may fluctuate over time and vary regionally based on the cost of electricity, our Supercharger Network will never be a profit center,” Tesla said on its blog. The stock climbed 1.2% minutes after the open, after being up as much as 2.2% ahead of the open. It has tumbled 19% year to date, while the S&P 500 has gained 3.2%.

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From:: Stock Market News

U.S. stocks opened sharply higher Monday, on track to break a nine-day slump, after the Federal Bureau of Investigation said its fresh review of Hillary Clinton’s emails won’t lead to charges. The news, which broke Sunday, triggered a relief rally globally, with Asian and European indexes gaining, the dollar strengthening and gold, seen as haven assets, selling off. The S&P 500 opened 25 points, or 1.2%, higher at 2,110. The Dow Jones Industrial Average jumped 208 points, or 1.2%, to 18,096. The Nasdaq Composite began the session up 81 points, or 1.6%, at 5,127.

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From:: Stock Market News

Shares of Dean Foods Co. surged 2.9% in premarket trade Monday, after the milk producer beat third-quarter earnings expectations, and provided an upbeat outlook. Earnings for the quarter to Sept. 30 slipped to $15 million, or 16 cents a share, from $20 million, or 22 cent a share, in the same period a year ago. Excluding non-recurring items, such as asset impairment charges and restructuring costs, adjusted earnings per share came to 37 cents, above the FactSet consensus of 36 cents. Revenue fell to $1.96 billion from $2.03 billion, just missing the FactSet consensus of $1.97. Total volume declined 1% to 651 million gallons, which the company said was the best volume performance in four years. For the fourth quarter, the company expects adjusted EPS in the range of 37 cents to 45 cents, compared with the FactSet consensus of 37 cents. “I am extremely pleased with our third quarter results, which reflect the strongest volume performance we’ve seen in years, a disciplined go-to-market strategy and continued focus on reducing costs,” said Chief Executive Gregg Tanner. The stock has climbed 7.6% year to date through Friday, while the S&P 500 has gained 2%.

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From:: Stock Market News

Shares of Biogen Inc. and Ionis Pharmaceuticals Inc. rallied premarket after the companies reported positive results from a late-stage trial of an investigational treatment for later-onset spinal muscular atrophy. The companies said the trial met its primary endpoint at the interim analysis of Cherish, a study evaluating Spinraza, or nusinersen. The analysis “found that children receiving Spinraza experienced a highly statistically significant improvement in motor function compared to those who did not receive treatment,” the companies said in a statement. Biogen is preparing for the launch of the treatment in the U.S., possibly as early as year-end or the first quarter of 2017. Biogen shares rose 3.5% in premarket trade, while Ionis was up 12.5%. S&P 500 futures were up 1.4%.

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From:: Stock Market News

All 28 of the 30 Dow Jones Industrial Average components that were active in premarket trade Monday were trading higher, with 21 of those stock up at least 1%. Dow futures were recently up 234 points, or 1.3%. The most active Dow stock ahead of the open was Apple Inc. , which gained 1.2%. The stock had lost 8% in the past eight sessions to close Friday an 8-week low. Among other more active Dow stocks, shares of Microsoft Corp. gained 1.3%, Coca-Cola Co. rose 1%, General Electric Co. tacked on 1.4%, Intel Corp. advanced 1.6% and J.P. Morgan Chase & Co. added 1.7%. The Dow closed Friday at a 3-month low, after falling 4% from its Aug. 15 record close of 18,636.05.

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From:: Stock Market News

Shares of MGM Resorts International , rose nearly 5% in premarket trade on Monday after the company reported improved third-quarter profit and revenue. Net Income for the quarter was $535.6 million, or 93 cents per share, up from $66.4 million, or 12 cents during the same quarter a year ago. The earnings bump included 60 cents related to a $430 million gain on Borgata acquisition and a 20 cents charge related to the NV Energy exit, according to a company release. FactSet’s earnings consensus was for 14 cents per share. MGM revenue hit $2.7 billion, compared with $2.5 billion a year ago. Revenue came in ahead of FactSet’s $2.4 billion consensus. Shares of MGM are up more than 16% in the year to date, outperforming the S&P 500 Index , which is up 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.

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From:: Stock Market News