Category: Stock Market News

American International Group Inc. shares fell 2.6% late Wednesday after the insurance company reported third-quarter earnings below Wall Street expectations. AIG said it earned $462 million, or 42 cents a share, in the third quarter, reversing a loss of $231 million, or 18 cents a share, in the prior-year quarter. Analysts polled by FactSet had expected per-share earnings of $1.13 for the quarter. Net income during the quarter included an after-tax net realized capital losses of $526 million, or 48 cents a share, mostly on higher foreign-exchange losses related to the British pound weakening following the Brexit vote, AIG said. After-tax operating income was $1.1 billion, or $1 a share, for the third quarter of 2016, up from $691 million, or 52 cents a share, in the prior-year quarter. AIG’s board of directors has authorized an additional increase to its previous share buyback of $3 billion, which results a remaining authorization of about $4.4 billion. The board also declared a cash dividend of 32 cents a share, payable Dec. 22 to shareholders of record on Dec. 8. Shares of AIG had ended the regular trading session down 0.2%.

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

MetLife Inc. shares jumped 2% in after-hours trade Wednesday, after the insurer beat profit and revenue estimates for its third quarter. The shares later reversed those gains to trade flat. The company said it had net income of $571 million, or 51 cents a share, down 52% from a year ago. Excluding losses on derivatives and a goodwill impairment charge, the company had per-share earnings of $1.27, above the FactSet consensus of $1.15. Revenue fell 2% to $17.7 billion from $18.0 billion, also ahead of the FactSet consensus of $17.2 billion. Premiums, fees and other revenue came to $13.1 billion, down 1% from a year ago. Shares are down about 4% in the year so far, while the S&P 500 has gained 2.6%.

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

Donald Trump moved ahead of Hillary Clinton in a new poll of Ohio voters released Wednesday. Trump leads Clinton by five points, 46% to 41%, among likely voters, according to the latest poll from Quinnipiac University. The rivals were tied at 45% in the university’s prior poll. Other polls released by Quinnipiac on Wednesday showed Clinton leading Trump by five points in Pennsylvania, and races in Florida and North Carolina too close to call.

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 fell Wednesday to settle at their lowest level in five weeks after U.S. government data revealed its largest weekly climb for domestic crude inventories on record. The Energy Information Administration said crude supplies rose 14.4 million barrels for the week ended Oct. 28. December WTI crude fell $1.33, or 2.9%, to settle at $45.34 a barrel on the New York Mercantile Exchange. That marked the lowest settlement since Sept. 27, according to FactSet data.

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 settled above $1,300 an ounce on Wednesday, as weakness in the U.S. dollar and equities and uncertainty surrounding the outcome of the upcoming U.S. presidential election lifted prices to their highest level in a month. Prices for the yellow metal edged lower in electronic trading, however, after the U.S. Federal Reserve left interest rates unchanged but said the case for an increase in interest rates “has continued to strengthen.” December gold rose $20.20, or 1.6%, to settle at $1,308.20 an ounce for the session. In electronic trading after the Fed decision, prices were at $1,307.40.

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 extended losses Wednesday after the Federal Reserve kept interest rates unchanged as widely expected. The S&P 500 fell 12 points, or 0.6%, to 2,098 while the Dow Jones Industrial Average shed 67 points, or 0.3%, to 17,977. The Nasdaq Composite Index dropped 42 points, or 0.8%, to 5,112. Stocks had been under pressure ahead of the Fed’s decision as investors turned jittery over latest polls that showed Donald Trump narrowing his gap with Hillary Clinton with the election less than a week away.

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

WASHINGTON (MarketWatch) – The Federal Reserve on Wednesday pointed to “somewhat” higher inflation in asserting the case for an increase in U.S. interest rates “has continued to strengthen.” Yet the Fed also left its benchmark rate unchanged, saying it’s waiting for “some further evidence” before making a move. The bank’s policy-setting board voted 8-2 to leave the fed funds rate at a range of 0.25% to 0.5%. The chiefs of the Fed banks in Cleveland and Kansas City dissented. They preferred a small rate increase.

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

Michigan-based retailer Meijer said that it has begun the process of integrating plus-size apparel into the missy and women’s departments across all of its 230 stores. As part of the integration, the retailer will also stop charging more for plus sizes, “despite the higher production costs,” the company said. Fifteen stores have already undergone the change; the rollout is expected to be complete by early 2017. By combining all of the sizes, Meijer says it’s also able to maximize the salesfloor, with the integrated sections taking up 80% of the current space. Meijer operates supercenters and grocery stores in Michigan, Indiana, Illinois, Kentucky and Wisconsin.

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 latest Marquette Law School poll finds Hillary Clinton with a 46% to 40% lead over Donald Trump in Wisconsin. The poll — which was conducted both before and after news of the new FBI examination of Clinton-related emails — is narrower than the 7-point advantage the former secretary of state held in early October. The Wisconsin poll comes as both candidates have devoted more resources to the state in recent days. Libertarian Gary Johnson is supported by 4%, and Green Party candidate Jill Stein is at 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.

…read more

From:: Stock Market News

Hillary Clinton leads Donald Trump in a new poll of likely Pennsylvania voters, but by a smaller margin than a month ago. Democratic nominee Clinton gets 48% support to Republican Trump’s 44% in a Monmouth University poll released Wednesday. A month ago, Clinton held a 50%-40% advantage. The new poll was taken after news broke about the Federal Bureau of Investigation’s probe of new emails related to Clinton’s tenure as secretary of state.

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