Category: Stock Market News

Saudi Arabia said one person was killed and two injured by a ballistic missile that was shot down over the nation’s capital, Riyadh, on Sunday, the Associated Press reported. The missile was one of seven reportedly fired by Iran-backed Houthi rebels in Yemen, more than 600 miles away, on the third anniversary of the start of the Saudi-led war against the Houthis. Three missiles targeted Riyadh, the AP said, and the Saudi military said all seven were shot down by Patriot missiles. Over 10,000 people have died in the war, according to the United Nations, about half of them civilians.

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 field for the men’s Final Four is set, and after an NCAA Tournament that has seen a number of stunning upsets, three-fourths of the field is fairly predictable. No. 1-seed Kansas beat Duke in overtime Sunday, 85-81, to become the last team to reach the Final Four. The Jayhawks will play fellow No. 1-seed Villanova, which defeated Texas Tech earlier Sunday, next Saturday in San Antonio. The other side of the bracket will pit No. 3-seed Michigan against the true Cinderella story, 11th-seeded Loyola-Chicago. The winners will advance to the championship game April 2. The games will air on Time Warner Inc.’s TBS.

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

Saudi Arabia said one person was killed and two injured by a ballistic missile that was shot down over the nation’s capital, Riyadh, on Sunday, the Associated Press reported. The missile was reportedly fired by Iran-backed Houthi rebels in Yemen, on the third anniversary of the start of the Saudi-led war against the Houthis. Saudi media said the missile was aimed at the city’s international airport and was shot down by Patriot missiles, the AP said. Over 10,000 people have died in the war, according to the United Nations, about half of them civilians

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

John Williams is set to be named president of the New York Fed, the Wall Street Journal reported Sunday. Williams is currently president of the San Francisco Fed. Citing sources familiar with the matter, the Journal reported that the Federal Reserve board of directors has recommended Williams to succeed the retiring William Dudley for the New York post, and a final decision may be announced next month.

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

Tesla CEO Elon Musk has asked for a slowdown in deliveries of his electric cars in Norway, citing problems tied to the local manufacturing supply chain. According to CNBC, referencing a local industry publication, Electrek, the Palo Alto, Calif.-based car maker’s problems in Oslo are linked to a dearth of “competent transporters” that comply with local road regulations. Shipments have been prone to accidents, the reports said. Electrek characterized Norway as Tesla’s largest “market per capita.” Via Twitter, Musk said “I have just asked our team to slow down deliveries. It is clear that we are exceeding the local logistics capacity due to batch build and delivery. Customer happiness & safety matter more than a few extra cars this quarter.” Tesla’s shares closed down 2.5% on Friday, registered a 6.2% weekly decline, and are down 3.2% so far in 2018. By comparison, the Dow Jones Industrial Average [:DJIA] is down 4.8% thus far in 2018, while the S&P 500 index is on track for a year-to-date drop of 3.5%, nearly all of that year-to-date decline for the benchmarks have been generated over the past week of trading, as investors worried about geopolitics and the threat of a trade war. Tesla is set to report its quarterly results on May 3, 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

Tesla CEO Elon Musk has asked for a slowdown in production of his electric cars in Norway, citing problems tied to the local manufacturing supply chain. According to CNBC, referencing a local industry publication, Electrek, the Palo Alto, Calif.-based car maker’s problems in Oslo are linked to a dearth of “competent transporters” that comply with local road regulations. Shipments have been prone to accidents, the reports said. Electrek characterized Norway as Tesla’s largest “market per capita.” Via Twitter, Musk said “I have just asked our team to slow down deliveries. It is clear that we are exceeding the local logistics capacity due to batch build and delivery. Customer happiness & safety matter more than a few extra cars this quarter.” Tesla’s shares closed down 2.5% on Friday, registered a 6.2% weekly decline, and are down 3.2% so far in 2018. By comparison, the Dow Jones Industrial Average [:DJIA] is down 4.8% thus far in 2018, while the S&P 500 index is on track for a year-to-date drop of 3.5%, nearly all of that year-to-date decline for the benchmarks have been generated over the past week of trading, as investors worried about geopolitics and the threat of a trade war. Tesla is set to report its quarterly results on May 3, 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

Facebook Inc. lost $74.66 billion in market capitalization this week, after news broke that Cambridge Analytical had acquired and improperly handled data from about 50 million members. Amid a broad market sell-off Friday, Facebook closed down 3.3% to $159.39 in the regular session. Facebook’s week-long decline underscores the gravity of the Cambridge scandal. Lawmakers have asked for hearings and testimony from Facebook executives and users have staged something of a digital revolt under the Twitter Inc. hashtag #DeleteFacebook. Even billionaire Elon Musk’s companies Space X and Tesla Inc. apparently deleted their Facebook pages Friday after users called for Musk to take action. Days after the crisis broke March 17 and after relative silence from the company, Facebook Chief Executive Mark Zuckerberg went on a public relations offensive Wednesday to quell user and investor fears. Facebook stock fell 14% during the week, as the benchmark S&P 500 index dropped 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

The S&P 500 index flirted with a close below an important, long-term trend line as selling intensified late-Friday on the back of trade-war fears. The S&P 500 index ended down 55.43 points, or 2.1%, at 2,588.26, barely above its 200-day MA at 2,585.38, according to FactSet data. Technical analysts pay attention to moving averages to help gauge bullish and bearish momentum in an asset. The gauge also closed below 2,600, considered a psychological round-number level that also could herald a bearish trend for the S&P 500. The Dow Jones Industrial Average , meanwhile, finished the session down 424 points, or 1.8%, at 23,533, while the Nasdaq Composite Index breached its 100-day moving average at 7,082.60 and closed off 2.4% at 6,992.67. The S&P 500 last fell below its 200-day MA on Feb. 9, a day after the Dow and S&P 500 fell into correction territory, defined as a drop of at least 10% from a recent high.

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

Dropbox Inc. ended its first day of trading Friday more than 35% higher than its initial public offering price, even as the S&P 500 index and Dow Jones Industrial Average struggled. Dropbox stock gained 35.6% from its $21 IPO price to close at $28.48, giving the cloud-storage company a market valuation of $9.66 billion, according to FactSet. That is just shy of the $10 billion valuation the company received in a 2014 funding round. The company raised more than $750 million by selling at least 12 million shares in the IPO. Box Inc. –considered by some to be a rival, though Box Chief Executive Aaron Levie does not agree — fell 8.2% on the day.

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

Tintri Inc. said late Friday that Chief Financial Officer Ian Halifax will leave the company April 30. Tintri stock is down a fraction in late trading, after closing down nearly 4% to $2.76 in the regular session. Halifax’s departure comes weeks after the peripheral maker’s Chief Executive Ken Klein announced his departure amid a 20% staff cut. The company has struggled since its June IPO, during which it drastically cut its target price, eventually going public for $7 a share. Tintri stock is down 46% this year, as the S&P 500 index has fallen 1.1%.

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