Category: Stock Market News

The major market indexes may be declining in morning trade Friday, but most stocks are trading higher, reversing the divergence witnessed in the previous session. The number of advancing stocks exceeded the number of decliners by an 1,817-to-942 score on the NYSE, and by a 1,225-to-1,036 margin on the Nasdaq. Advancing volume on the NYSE was about 66% of the total, while Nasdaq advancing volume was 49%. Meanwhile, the Dow Jones Industrial Average fell 17 points, with 16 of 30 components losing ground. The S&P 500 Index eased 0.2% and the Nasdaq Composite Index shed 0.5%. On Thursday, the indexes bounced sharply off early lows to close higher, but market breadth was negative.

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From:: Stock Market News

The major market indexes may be declining in morning trade Friday, but most stocks are trading higher, reversing the divergence witnessed in the previous session. The number of advancing stocks exceeded the number of decliners by an 1,817-to-942 score on the NYSE, and by a 1,225-to-1,036 margin on the Nasdaq. Advancing volume on the NYSE was about 66% of the total, while Nasdaq advancing volume was 49%. Meanwhile, the Dow Jones Industrial Average fell 17 points, with 16 of 30 components losing ground. The S&P 500 Index eased 0.2% and the Nasdaq Composite Index shed 0.5%. On Thursday, the indexes bounced sharply off early lows to close higher, but market breadth was negative.

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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From:: Stock Market News

U.S. stocks opened slightly lower on Friday as investors remained cautious ahead of the looming vote in the U.K. on whether or not to remain in the European Union. The campaigning has been on hold for a second day following an attack that killed British lawmaker Jo Cox on Thursday. The S&P 500 opened 4 points, or 0.2%, lower at 2,073. The Dow Jones Industrial Average slipped 21 points, or 0.1%, to 17,713. Meanwhile, the Nasdaq Composite began the session down 14 points, or 0.3%, at 4,830.

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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The British Parliament will be recalled on Monday to pay tribute to murdered U.K. lawmaker Jo Cox, media reports said on Friday. Labour’s Jeremy Corbyn had asked for the recall of the House of Commons, and the opposition leader confirmed during a speech in Cox’s West Yorkshire constituency that his request was granted. Speaking alongside Prime Minister David Cameron, Corbyn said Cox was an extraordinary that is “a tragedy beyond tragedy” what happened to her, according to local media reports. Corbyn and Cameron were in Birstall, where Cox was killed, to pay tribute to the rising Labour politician. Meanwhile, the ruling Conservative party issued a statement saying it won’t put up a candidate in the election for Cox’s Batley and Spen seat. “Following the tragic killing of Labour MP Jo Cox, the Conservative party has decided not to contest the forthcoming byelection as a mark of respect to a much-loved and respected politician,” the Conservative party said.

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Viacom Inc. on Friday issued a profit warning to investors on the heels of a continued disappointing film performances. The media and entertainment company said it expects per-share earnings for the third quarter to land in the range of $1 to $1.05. The FactSet consensus on earnings is $1.38 per share. Viacom’s third quarter results are impacted by the underperformance of “Teenage Mutant ninja Turtles: Out of the Shadows,” according to a news release. The film has pulled in $122.7 million worldwide, according to Box Office Mojo. The company also said domestic advertising sales to drop 4% in the quarter. The profit warning comes just a day after Sumner Redstone’s holding company National Amusements, which controls nearly 80% of Viacom’s voting shares, moved to replace five of the company’s board members including Viacom Chairman and CEO Philippe Dauman. Shares of Viacom were down nearly 2% in premarket trade.

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Valeant Pharmaceuticals International Inc. said Friday it is investing $27.5 million in its Canadian manufacturing and export capacity with plans to upgrade facilities in Steinbach, Manitoba and Laval, Quebec. The investments include $8 million to cover the costs of the transfer of North American production of Xifaxan (rifaximin) and Apriso (mesalamine). Xifaxan is a treatment for hepatic encephalopathy and irritable bowel syndrome and Apriso is used to treat ulcerative colitis. Another $12.5 million will be invested to transfer production of Arestin (minocycline hydrochloride) to Laval. Arestin is an antibiotic treatment for periodontal disease. Shares were up 1.2% in premarket trade, but are down 78% in the year to date, while the S&P 500 has gained 1.7%.

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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From:: Stock Market News

Valeant Pharmaceuticals International Inc. said Friday it is investing $27.5 million in its Canadian manufacturing and export capacity with plans to upgrade facilities in Steinbach, Manitoba and Laval, Quebec. The investments include $8 million to cover the costs of the transfer of North American production of Xifaxan (rifaximin) and Apriso (mesalamine). Xifaxan is a treatment for hepatic encephalopathy and irritable bowel syndrome and Apriso is used to treat ulcerative colitis. Another $12.5 million will be invested to transfer production of Arestin (minocycline hydrochloride) to Laval. Arestin is an antibiotic treatment for periodontal disease. Shares were up 1.2% in premarket trade, but are down 78% in the year to date, while the S&P 500 has gained 1.7%.

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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Albermarle Corp. announced Friday an agreement to sell its Chemetall Surface Treatment business for $3.2 billion in cash to Germany-based BASF SE. The sale of the business, which Albermarle acquired as part of its purchase of Rockwood Holdings in January 2015, is expected to be completed by the end of the year. Chemetall is a supplier of surface treatments for metal, plastic and glass substrates. Albermarle’s stock, which was still inactive in premarket trade, has run up 43% year to date, while the S&P 500 has gained 1.7%.

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Mobile telecoms equipment maker Ericsson is under a corruption investigation by U.S. authorities over its activities in China, Swedish newspaper Svenska Dagbladet reported Thursday, citing unnamed sources. The Swedish company has confirmed the investigation by the U.S. Securities and Exchange Commission and the Department of Justice, the newspaper said Friday. Ericsson, the DOJ and SEC had not responded to requests for comment at the time of writing. Ericsson shares fell 1.7% on Friday.

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Rock singer Meat Loaf collapsed during a performance in Canada on Thursday, according to media reports. The 68-year-old dropped on stage shortly after 9:30 p.m. in Edmonton at the Jubilee Auditorium, according to an Edmonton Journal report. He was rushed to the hospital, reports said. There was no public update on his condition early Friday. Meat Loaf, whose birth name is Marvin Lee Aday, earlier this week postponed a concert in Calgary due to illness, according to his Facebook page.

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From:: Stock Market News