Category: Stock Market News

Imax Corp. and AMC Theatres said Wednesday they have agreed to expand their revenue sharing deal with the addition of 25 Imax at AMC theatres. The new theatres are expected to be installed through 2019 at new and existing AMC locations in cities including New York, Los Angeles and Houston, the companies said in a statement. AMC will have 185 Imax at AMC theatres, making it the biggest Imax exhibitor in the U.S. Neither stock was trading premarket.

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Argentina romped past the U.S. men’s soccer team Tuesday night in Houston, advancing to the Copa America finals with a 4-0 victory. FC Barcelona star Lionel Messi became Argentina’s all-time leading scorer with a beautiful free kick in the first half that weaved its way into the corner of the net. It was Messi’s 55th career international goal. Meanwhile, the Americans were dominated on all sides of the ball, and didn’t manage a single shot on goal. On Sunday, Argentina, ranked No. 1 in the world, will play the winner of Wednesday’s other semifinal between Chile and Colombia.

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Valeant Pharmaceuticals International Inc. said it appointed Sam Eldessouky as chief accounting officer last Wednesday, according to a Securities and Exchange Commission filing late Tuesday. Eldessouky took over the duties from Robert Rosiello, who will continue as chief financial officer, the company said. Valeant shares fell 1.1% to $21.40 after hours.

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Fortune Brands Home & Security Inc. gained fractionally in the extended session Tuesday after S&P Dow Jones Indices said the company will join the S&P 500 index . The home and security products company replaces Cablevision Systems Corp. , which was acquired by Altice NV. The change will occur after the close of trading on Thursday, S&P said. Fortune Brands shares rose 0.2% to $57.67 after hours.

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Fortune Brands Home & Security Inc. gained fractionally in the extended session Tuesday after S&P Dow Jones Indices said the company will join the S&P 500 index . The home and security products company replaces Cablevision Systems Corp. , which was acquired by Altice NV. The change will occur after the close of trading on Thursday, S&P said. Fortune Brands shares rose 0.2% to $57.67 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.

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Fortune Brands Home & Security Inc. gained fractionally in the extended session Tuesday after S&P Dow Jones Indices said the company will join the S&P 500 index . The home and security products company replaces Cablevision Systems Corp. , which was acquired by Altice NV. The change will occur after the close of trading on Thursday, S&P said. Fortune Brands shares rose 0.2% to $57.67 after hours.

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Tesla Motors Inc. announced Tuesday that it has made an offer to buy SolarCity Corp. , which would marry Elon Musk’s biggest Silicon Valley startups. Musk is chief executive of Tesla, which makes electric cars and lithium-ion batteries, some of which are built for home usage with systems like the residential solar-power offerings of SolarCity. Musk serves as chairman for SolarCity, which was founded and is run by his cousins, Chief Executive Lyndon Rive and Chief Technical Officer Peter Rive. Tesla offered its own stock in the deal, which values SolarCity at $26.50 to $28.50 a share, according to a blog post from the company posted Tuesday afternoon. SolarCity stock closed at $21.19 Tuesday, but has sold for as much as $84.96 since going public in late 2012. SolarCity shares soared more than 20% in late trading Tuesday to more closely mirror the suggested price, topping $26; Tesla shares dropped more than 10% in after-hours action. Musk owns a 21.3% stake in Tesla and a 22.2% stake in SolarCity, according to FactSet data. The entrepreneur is also chief executive of SpaceX, which is based in Southern California.

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Oil futures climbed past $50 a barrel in electronic trading Tuesday after the American Petroleum Institute reported that U.S. crude supplies dropped by 5.2 million barrels for the week ended June 17, according to sources. Analysts polled by S&P Global Platts forecast a fall of 1.4 million barrels for crude inventories. The closely watched Energy Information Administration report will be released Wednesday. August crude was at $50.19 a barrel in electronic trading, up from the contract’s settlement of $49.85 on the New York Mercantile Exchange.

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FedEx Corp. shares slipped in Tuesday’s extended session after the package shipping company announced quarterly results. Fedex reported its fourth-quarter loss narrowed to $70 million, or 26 cents a share, from a loss of $895 million, or $3.16 a share, a year earlier. On an adjusted basis, the company would have earned $3.30 a share. Revenue edged up to $13 billion from $12.1 billion a year ago. Analysts surveyed by FactSet had forecast adjusted earnings of $3.28 a share on revenue of $12.77 billion. Fedex expects continued moderate economic growth and projected adjusted EPS of $11.75 to $12.25 for fiscal 2017. Shares of Fedex fell 2.4% after hours.

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Oil futures finished with a loss on Tuesday, pressured by uncertainty surrounding the upcoming U.K. Brexit vote and weekly data on U.S. crude supplies. July WTI crude settled at $48.85 a barrel on the New York Mercantile Exchange, down 52 cents, or 1.1%. The July contract expired at the settlement. August WTI crude , which is now the front-month futures contract, settled at $49.85, down 11 cents, or 0.2%.

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