Category: Stock Market News

The U.K.’s Prime Minister David Cameron said Friday morning he will resign, after Britain voted to leave the European Union in a hotly fought referendum. Cameron had been campaigning for the “remain” side, arguing the U.K. would be safer, stronger and better off economically inside the union. During a speech after the Brexit results were announced, the prime minister said the break-up negotiations with Europe need to take place under a new leader. The new prime minister will take over in October, he said. “Leaving Europe is not the path I recommended,” Cameron said. “I will do everything I can to help the U.K. succeed.”

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

Bank stocks were pummeled at the open of European trade Friday in the aftermath of a landmark vote by the U.K. to leave the European Union, which has roiled global markets. Financial firms were taking it on the chin. Shares of Lloyds Banking Group PLC , Barclays PLC , Royal Bank of Scotland Group [s:RBC] all tumbled at least 30%. The drop in bank stocks came as European stock-market indexes were plunging, with the Stoxx Europe 600 off 8.8% at 315.87.

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 U.K. is on track to leave the European Union, according to broadcasters BBC and ITV. In the early hours of Friday morning the two news stations forecast that the “leave” campaign has won the Brexit referendum and that the U.K. will sever its ties with the union it’s been a member of since 1973. The Sky News results tracker also put the exit side ahead with 51.7% versus 48.3% for the “remain” side, with 322 out of 382 counting areas having declared results. The pound slumped to $1.3329, the lowest it’s been against the dollar since 1985.

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 pound dropped below $1.35 for the first time since 1985 in early Friday trading hours as early results from the U.K.’s referendum on its European Union membership pointed to a “leave” vote. Sterling slumped to as low as $1.3463, before rebounding slightly to $1.3607. With 265 of 382 counting areas having declared results, 51.4% of the voters backed a Brexit versus 48.6% that favored to remain part of the union. The pound had late Thursday jumped to as high as $1.5022 on early indications the U.K. had voted to stay in the bloc. However, as more local results were announced the vote swung in favor of the Brexiteers.

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 pound slumped to the lowest against the dollar since 2009 as the results from the closely watched Brexit referendum pointed to a “leave” vote. With 200 of the counting areas having declared results, 51.7% of the votes backed a Brexit vs. 48.3% for “remain”. Sterling tanked to $1.3752, the lowest it’s been since January 2009, which was the height of the financial crisis. That slide marks a 7.5% loss from late Thursday in New York.

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 Philadelphia 76ers picked LSU forward Ben Simmons with the first overall pick in the NBA Draft on Thursday. The move was expected, as the Sixers were the only team Simmons had worked out with ahead of the draft. The 6-foot-10 Simmons, who was born in Melbourne, Australia, played one season at LSU, averaging 19.2 points and 11.8 rebounds a game. Philadelphia was the worst team in the NBA last season, going a miserable 10-72. They hope Simmons will be as successful as the team’s last No. 1 overall pick, Allen Iverson in 1996. Iverson went on to be a league MVP and 11-time All Star.
The Los Angeles Lakers picked Duke forward Brandon Ingram with the second pick.

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 pound erased its earlier gain and tumbled to $1.4464 after the latest local results in the U.K. EU referendum overwhelmingly pointed in favor of a Brexit. Sterling traded as high as $1.5022 earlier in the evening after the first results backed a “remain” vote. However, after the results from Sunderland showed a stronger-than-expected lead for the “leave” camp, the U.K. currency went tumbling. According to Sky News’ result tracker, the “in” side is now behind at 49.5% versus 50.5% for the Brexiteers.

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

Emerge Energy Services LP shares jumped in the extended session Thursday after Sunoco LP said it agreed to buy Emerge’s fuels business for $178.5 million. Emerge shares rallied 15% to $13.25 after hours. Under the agreement, Sunoco will acquire Dallas-based Direct Fuels LLC and Birmingham, Ala.-based Allied Energy Company LLC from Emerge. The deal is expected to close in the third quarter.

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 Arista Networks Inc. declined in the extended session Thursday after the International Trade Commission issued a cease and desist order against the company concerning three Cisco Systems Inc. patents. Arista shares fell 3.8% to $71 after hours. Arista said the ITC found that its Ethernet switch products infringed upon three out of five Cisco patents in contention under a final determination. Back in February, an ITC judge initially determined the products infringed three out of the five patents. Cisco shares rose 0.2% to $29.29 after hours.

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