Category: Stock Market News

Danish renewable energy group Dong Energy AS on Thursday completed its long-awaited initial public offering, with shares rallying almost 10% in the first 30 minutes of trading. The stock rose to 258 Danish kroner, up 9.8% from its IPO price of 235 kroner. The IPO price values the company at $15 billion, setting it on course for being one of the biggest European stock-market listings of the year. The indicative price range for the IPO had been set at 200 kroner to 255 kroner a share.

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From:: Stock Market News

Danish renewable energy group Dong Energy AS on Thursday completed its long-awaited initial public offering, with shares rallying almost 10% in the first 30 minutes of trading. The stock rose to 258 Danish kroner, up 9.8% from its IPO price of 235 kroner. The IPO price values the company at $15 billion, setting it on course for being one of the biggest European stock-market listings of the year. The indicative price range for the IPO had been set at 200 kroner to 255 kroner a share.

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

Danish renewable energy group Dong Energy AS on Thursday completed its long-awaited initial public offering, with shares rallying almost 10% in the first 30 minutes of trading. The stock rose to 258 Danish kroner, up 9.8% from its IPO price of 235 kroner. The IPO price values the company at $15 billion, setting it on course for being one of the biggest European stock-market listings of the year. The indicative price range for the IPO had been set at 200 kroner to 255 kroner a share.

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

Boston Scientific Corp. said late Wednesday it is restructuring to save the medical-device maker up to $150 million a year by 2020. The company said that it expects the number of employees to remain “relatively unchanged” as new jobs are created as obsolete ones are shed. Boston Scientific said it expects to spend $175 million to $225 million on the restructuring, which is expected to be completed by the end of 2018. Shares of Boston Scientific were unchanged at $22.80 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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From:: Stock Market News

Boston Scientific Corp. said late Wednesday it is restructuring to save the medical-device maker up to $150 million a year by 2020. The company said that it expects the number of employees to remain “relatively unchanged” as new jobs are created as obsolete ones are shed. Boston Scientific said it expects to spend $175 million to $225 million on the restructuring, which is expected to be completed by the end of 2018. Shares of Boston Scientific were unchanged at $22.80 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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The New Zealand dollar rose to 0.709 against the U.S. dollar on Wednesday, the highest in a year as the New Zealand central bank kept its official rate unchanged at 2.25%. “There continue to be many uncertainties around the outlook. Internationally, these relate to the prospects for global growth and commodity prices, the outlook for global financial markets, and political risks,” said the Reserve Bank of New Zealand in a statement following its decision. It also cited stable inflation, continued inflow of immigration and pressures in the housing market for standing pat on the monetary policy.

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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Insmed Inc. shares dropped in the extended session Wednesday after the biotech said it had withdrawn a European marketing application for a lung disease drug. Insmed shares fell 18% to $9.80 after hours. The company said the marketing application for the drug Arikayce was based on data from a mid-stage clinical study that didn’t support enough evidence for an approval from the European Medicines Agency. Insmed is trying to get the drug approved to treat nontuberculous mycobacteria lung disease, a rare and chronic infection that can cause potentially fatal lung damage. Insmed said it will resubmit the application when data is available from a later study.

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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Shares of Restoration Hardware Holdings Inc. fell more than 14% late Wednesday after the retailer unexpectedly swung to a first-quarter loss and lowered its outlook for 2016, casting doubts about the luxury-goods market and citing potential product delays, among other issues. Restoration Hardware said it lost $2.1 million, or 5 cents a share, in the first quarter, versus a net income of $9.8 million, or 23 cents a share, in the year-ago period. Sales rose to $455.5 million in the quarter, from $422.4 million a year ago. Analysts polled by FactSet had expected the retailer to report earnings of 5 cents a share in the quarter on sales of $452 million. Restoration Hardware expects adjusted earnings between $1.60 a share and $1.80 a share for the year, a reduction of 90 cents to $1 a share, due to what it called “short-term” difficulties. For the second quarter, it forecast earnings between 28 cents and 33 cents a share on revenue in the range of $505 million to $520 million. The analysts surveyed by FactSet had expected adjusted earnings of 79 cents a share on sales of $532 million for current quarter. Restoration Hardware shares ended Wednesday up 2%.

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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U.S. stocks closed higher Wednesday as oil prices settled at their highest levels in nearly a year. The Dow Jones Industrial Average rose 66.77 points, or 0.4%, to close at 18,005.05. The S&P 500 Index advanced 6.99 points, or 0.3%, to finish at 2,119.12, a new closing high for the year. The Nasdaq Composite Index gained 12.89 points, or 0.3%, for a close of 4,974.64. Oil for July delivery settled at $51.23 a barrel, its highest level since July 2015.

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Oil futures ended solidly higher Wednesday, with the U.S. benchmark closing above $51 a barrel for the first time since July 2015. West Texas Intermediate crude for July delivery rose 87 cents, or 1.7%, to finish at $51.23 a barrel. Oil was buoyed by a drop in weekly crude inventories, continued supply disruptions in Nigeria, and strong data on oil imports by China.

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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