Category: Stock Market News

Shares of Japanese games maker Nintendo Co. Ltd. surged 25% on Monday, adding to a rally late last week after the launch of smartphone game Pokemon Go. The game was launched last Wednesday, sending shares up 13% higher over Thursday and Friday. The game takes players on a scavenger hunt, allowing them to look at Pokemon characters in virtual reality via cameras on their mobile phones. But the game has also caused trouble for some players, including a group of players who were robbed in Missouri after being lured into one location. Another teen player in Wyoming stumbled onto a dead body while hunting Pokemon characters.

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CBS Radio has filed for an initial public offering worth up to $100 million in shares, according to a government filing Friday. The company holds 117 radio stations mostly in large U.S. metropolitan areas and is a spinoff from CBS Corp. . Currently CBS owns all shares of the company, CBS Radio said in a statement. The new public company will continue to be controlled by CBS and CBS “will be able to exert significant influence over us and our corporate decisions,” owning more than 50% of voting power, CBS Radio said in the filing. CBS Radio’s sales reached $264 million in the first three months of 2016, compared with $271 million in the year-ago period. Revenue fell to $1.23 billion in all of last year, compared with $1.30 billion in 2014. The filing did not specify a stock exchange where the shares would trade or a future stock symbol. Shares of parent CBS were flat in late trading Friday after ending the day up 1.7%.

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U.S. stocks rallied Friday on the back of robust jobs report, with the S&P 500 finishing a hair’s breadth away from its record close. Labor Department data showed U.S. companies added 287,000 jobs in June, helping to restore confidence in the economy. The S&P 500 rose 32 points, or 1.5%, to end at 2,129.83, coming within a point of its record of 2,130.82 on May 21, 2015. The Dow Jones Industrial Average [s:DJIA] climbed 251 points, or 1.4%, to end at 18,146–reclaiming the key 18,000 level for the first time in two weeks. The Nasdaq rallied 80 points, or 1.6%, to finish at 4,956.

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An audit report released Friday by the FDIC’s Inspector General said a departing employee of its Office of Complex Financial Institutions took sensitive components of three bank resolution plans without authorization last September and tried to use them to get a job at one of the banks. The report says the employee had personal financial issues, was prone to interpersonal disputes, and had performance issues, which should have heightened precautions by the agency when the employee was leaving. The IG recommended the implementation of an “insider threat program” and improvement of controls over copying of data to external devices like USB drives. Between February and May 2016, the FDIC notified Congress of seven major incidents in which employees took significant quantities of sensitive information from the FDIC without authorization when they departed. Another report issued Friday also criticized the FDIC for not reporting security incidents to Congress, as required, in a timely and complete manner.

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Viacom Inc. shares extended their recent rally, rising as much as 5% intraday on Friday. On Thursday, shares of Viacom gained steam after media mogul John Malone told reporters the media and entertainment company had great assets that were being undervalued amid the ongoing struggle for control, during an annual media and tech conference in Sun Valley, Idaho. The shares rose 4% Thursday and have soared 16% since closing at five-week low on June 27. The narrative making its way from the conference is of consolidation among companies, and Viacom is rumored to eventually recombine with CBS Corp. . The two companies split in 2006. Viacom is still seeking a minority investment for its film studio Paramount Pictures. Malone said he would have no interest in such an investment as he views the movie business as a tough one.

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Oil futures finished a bit higher on Friday, but still saw a loss of 7.3% for the week, according to FactSet. Prices found support from an improved U.S. employment picture but energy demand remained at risk in the wake of the U.K.’s decision to exit the European Union. August WTI crude rose 27 cents, or 0.6%, for the session to settle at $45.41 a barrel on the New York Mercantile Exchange.

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U.S. stocks soared on Friday, sending the S&P 500 above its all-time closing high set on May 21, 2015. The gains on Wall Street were fueled by a surprisingly strong jobs report, showing 287,000 jobs created in June. The S&P 500 was up 32 points, or 1.6% at 2,131. The Dow Jones Industrial Average jumped 267 points, or 1.5%, to 18,163. The Nasdaq Composite advanced 81 points, or 1.7% to 4.957.

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Gold futures settled lower on Friday, but still tallied a gain of roughly 1.5% for the week as market uncertainty continued to lure investors to the perceived safety of the precious metal. Prices for gold and silver have now posted gains in each of the last six weeks. Gold for August delivery lost $3.70, or 0.3%, to settle at $1,358.40 an ounce. September silver tacked on 26.1 cents, or 1.3%, to end at $20.099 an ounce, up 2.6% for the week.

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Oil futures ticked modestly higher Friday even as Baker Hughes data showed that the weekly number of active U.S. rigs rose a fifth time in the past six weeks. The weekly number of active U.S. rigs drilling for crude oil rose 10 to 351 as of Friday, marking a second straight weekly rig-count climb. The total number of rigs, including those drilling for gas, climbed 9 to 440 rigs. August crude rose 39 cents, or 0.9%, to $45.54 a barrel on the New York Mercantile Exchange, extending its gains in the session.

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Shares of Comcast Corp. traded at an all-time high on Friday, as the company’s film arm Universal Pictures released “The Secret Life of Pets” in theaters. Comcast shares have gained about 6% over the last seven sessions. Along with some recent box office successes, including “The Secret Life of Pets,” which earned $5.3 million in early Thursday showings, Comcast agreed to a deal with Netflix Inc. earlier this week to host the streaming service on its proprietary X1 set-top boxes. Comcast shares are up more than 18% in the year to date, outperforming the S&P 500 Index, which is up nearly 4% this year.

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