Category: Stock Market News

General Electric Co. announced details of its new quarterly dividend, which the industrial conglomerate said last month it would cut in half to 12 cents a share. The new dividend will be payable Jan. 25 to shareholders of record on Dec. 27. The stock edged up 0.1% in afternoon trade to $17.73. At current prices, the new annual dividend rate implies a dividend yield of 2.71%, compared with the implied yield for the Dow Jones Industrial Average of 2.11%. GE shares have plunged 25.6% over the past three months and 43.9% year to date, while the Dow has rallied 11.4% over the past three months and 22.9% this year.

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

Oil prices climbed Friday, buoyed by supply risks tied to geopolitical tensions in the Middle East and the potential for an oil-workers’ strike in Nigeria, as well as signs of higher demand following a rise in November Chinese crude imports. Prices, however, fell for a second-straight week on concerns over rising U.S. oil production. January West Texas Intermediate crude rose 67 cents, or 1.2%, to settle at $57.36 a barrel on the New York Mercantile Exchange. It lost roughly 1.7% for the week.

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

Honeywell International Inc. disclosed Friday that it set a new $8 billion stock repurchase program. The new program includes the $1.5 billion remaining in the previously announced $5 billion program, the aerospace and industrial company said. The stock was up 0.2% at $153.59 in afternoon trade. At current prices, the new buyback program could repurchase up to 6.9% of the 756.81 million shares outstanding, as of Nov. 25. The stock has run up 32.6% year to date, while the SPDR Industrial Select Sector ETF has climbed 20.0% and the S&P 500 has gained 18.4%.

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

Facebook Inc. released its sexual harassment policy Friday, including its reporting procedures and steps the company will take to investigate a complaint. Facebook stock is down a fraction to $180.10 in afternoon trading. In a blog, Facebook Chief Operating Officer Sheryl Sandberg wrote that the company decided to make the policy public “not because we think we have all the answers, but because we believe that the more companies are open about their policies, the more we can all learn from one another.” Sandberg said that the company goes beyond what is required by law and the policies prohibits “intimidating, offensive, and sexual conduct even when that conduct might not meet the legal standard of harassment.” The company published the policy in full on its “People Practices” website. The company did not immediately respond to a request for comment. Facebook stock has gained 57% this year, as the S&P 500 index rose 18%.

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

Gold fell on Friday, as strength in the U.S. dollar and stocks, and a recent rally in bitcoin, combined to lure investors away from the yellow metal and push prices to their lowest finish since July. December gold lost $4.70, or 0.4%, to settle at $1,248.40 an ounce. That was the lowest finish since July 20, according to FactSet data. Futures prices fell roughly 2.6% for the week.

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

Deputy national security adviser Dina Powell plans to leave the White House and return to New York early next year, the Washington Post reported Friday. Administration officials told the Post Powell is exiting on good terms with President Donald Trump. Powell, previously a Goldman Sachs partner, has had a particular focus on Middle East issues.

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

While 22 of the Dow Jones Industrial Average’s 30 components are contributing to the Dow’s rise Friday into record territory, more than half the gain is coming from just two stocks. UnitedHealth Group Inc.’s stock rose $3.93, or 1.8%, in afternoon trade, to add about 27.1 points to the Dow’s price, while the $2.60, or 0.9%, climb in Boeing Co. shares would add 17.9 points. The combined add of 45 points was a little more than half the Dow’s current gain of 85 points. The next biggest contributor was Microsoft Corp.’s stock , which was up $1.67, or 2.0%, to contribute about 11.5 points. The biggest weight were the shares of 3M Co. , which fell $2.25, or 0.9%, to shave about 15.5 points off the Dow.

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

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up 2 at 751 this week. The number of U.S. oil rigs has now climbed for three weeks in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, added 2 to 931, according to Baker Hughes. January West Texas Intermediate crude was up 57 cents, or 1%, from Thursday, to $57.26 a barrel–little changed from shortly before the rig data.

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

Tesla Inc. Chief Executive Elon Musk told academics and researchers at an event Thursday that the Silicon Valley car maker is working on its own artificial-intelligence chip, according a report on CNBC that cited one person at the event. Software related to Tesla’s Autopilot, a suite of advanced driver assistance systems, runs on supercomputers by Nvidia Corp. in Tesla vehicles. Musk last month hinted that Tesla could sever that relationship, on grounds that the hardware might not be robust enough to satisfy future regulation on driverless cars. Musk then promised news on the “hardware front” soon. Nvidia shares have gained nearly 80% this year, while Tesla shares have risen 47% and the S&P 500 index is up 18%.

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 biotech Denali Therapeutics Inc. soared more than 20% in their trading debut Friday, after the company priced its initial public offering at the midpoint of its $17 to $19 price range. The company sold 13.9 million shares at $18 each to raise $250 million, giving it a valuation of $1.7 billion, according to Renaissance Capital, a manager of IPO-focused ETFs like the Renaissance IPO ETF . Goldman Sachs, Morgan Stanley and J.P. Morgan were lead managers on the deal. The stock is trading on Nasdaq under the ticker symbol “DNLI”.

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