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Defense and aerospace company Lockheed Martin Corp. said Thursday it is raising its quarterly dividend by 10% to $2.00 a share. The new dividend will be payable on Dec. 10 to shareholders of record as of December 1. Shares were down 0.2%, but have gained 24% in 2017, while the S&P 500 has gained 12%.
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.
From:: Stock Market News
Oil prices finished lower Thursday, pulling back after hefty month-to-date gains as traders take positions ahead of the conclusion of the third quarter. November WTI crude lost 58 cents, or 1.1%, to settle at $51.56 a barrel on the New York Mercantile Exchange. Prices looked poised for a weekly gain of about 2%, and a monthly rise of roughly 7.6%.
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Shares of McDonald’s Corp. climbed $3.65, or 2.4%, in afternoon trade Thursday, to pace the Dow Jones Industrial Average’s gainers, after an analyst upgrade. The price gain was adding about 25 points to the Dow’s price, which was up 37 points. Longbow Research analyst Alton Stump raised his rating on the fast-food giant to the equivalent of buy, according to FactSet. Stump’s price target of $183 is 16% above current levels, and 6.2% above the average target of $172.31 of the 32 analysts surveyed by FactSet. The stock, which is 2.4% below the Sept. 11 record close of $161.53, has soared 30% year to date, while the Dow has gained 13%.
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From:: Stock Market News
Gold prices end higher Thursday, edging up after notching a six-week low as the U.S. dollar retreated from its highest level in a month. “Futures and options traders may be running scared of the [Federal Reserve’s] sudden claim of getting sober and preparing to raise rates, but private investors in physical gold don’t believe it,” said Adrian Ash, head of research at BullionVault. “They’re using this price drop to rebuild positions after taking profits over the summer,” he said. December gold rose 90 cents, or less than 0.1%, to settle at $1,288.70 an ounce.
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.
From:: Stock Market News
Roku Inc. shares jumped more than 65% Thursday on their first day of trade after the company’s initial public offering, adding to an initial $1.3 billion valuation. The company, which makes devices that allow consumers to stream media to their televisions, priced its IPO at $14 a share Wednesday evening. Shares began trading Thursday morning on the Nasdaq at $15.78, 12.7% higher than the IPO price, then moved as high as $23.06 in afternoon trade. Roku raised $219 million in the IPO, with the company getting $126 million and selling stockholders Menlo Ventures and Sky Ventures Ltd. taking the rest. Underwriters have access to 2.35 million more shares, which would be split between the company and selling stockholders if they are sold.
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.
From:: Stock Market News
Home furnishing company Ikea Group has purchased TaskRabbit, a company that connects freelance workers with clients in need of services like furniture assembly, moving or handyman work. TaskRabbit operates in 40 cities in the U.S. and London, and will continue to operate as an independent company with the ability to partner with other companies. The deal is expected to close in October, according to a release. Ikea intends to learn from TaskRabbit’s digital expertise and use its marketplace to provide services to Ikea customers. Ikea launched a pilot with TaskRabbit in London in November 2016. Ikea Group owns and operates 357 Ikea stores in 29 countries as well as an e-commerce business. Financial details of the deal were not disclosed. The SPDR S&P Retail ETF is down 5.4% for the year to date while the S&P 500 index is up 12% for the period.
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.
From:: Stock Market News
GoPro Inc. showed off two new cameras Thursday as the company approaches an important holiday season. Chief Executive Nick Woodman took the stage at an event in San Francisco and showed off a new 360-degree camera called Fusion that can record spherical video and costs $699, with shipments starting in November. Woodman also introduced the new Hero 6 camera, the latest in GoPro’s core line of action cameras, and focused on the camera’s ability to quickly upload footage to a smartphone. The Hero 6 is available now for $499, and can be bundled with GoPro’s Karma drone for $1,199. GoPro has suffered in the last two holiday shopping seasons, after Woodman admitted to a poor pricing decision on the Hero 4 in 2015 and the company faced production issues with new products last year. GoPro stock, which topped $90 a share after its initial public offering, has dropped to lower than $10 a share at times in the past year amid the fallout from lackluster sales. Shares were down 1.4% at $11.53 as the consumer-facing product launch event ended Thursday; GoPro also planned a conference call with investors and analysts later in the day.
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.
From:: Stock Market News
Treasury Secretary Steven Mnuchin said Thursday the 20% corporate tax rate contained in a Republican tax-reform proposal is “not negotiable.” President Donald Trump had insisted on a 15% rate, down from the current 35%, before agreeing to the 20% outlined in the GOP framework. Congress will fill in details of the framework, released by the White House and top congressional Republicans, by writing legislation over the coming weeks.
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.
From:: Stock Market News
Roku Inc. jumped more than 30% in the first few minutes of trading after its initial public offering Thursday, adding to an initial $1.3 billion valuation. The company, which makes devices that allow consumers to stream media to their televisions, priced its IPO at $14 a share Wednesday evening. Shares began trading Thursday morning on the Nasdaq at $15.78, 12.7% higher than the IPO price, then quickly jumped as high as $18.28. Roku raised $219 million in the IPO, with the company getting $126 million and selling stockholders Menlo Ventures and Sky Ventures Ltd. taking the rest.
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.
From:: Stock Market News
Roku Inc. began trading 12.7% higher than its initial public offering price Thursday, adding to an initial $1.3 billion valuation. The company, which makes devices that allow consumers to stream media to their televisions, priced its IPO at $14 a share Wednesday evening. Shares began trading Thursday morning on the Nasdaq at $15.78. Roku raised $219 million in the IPO, with the company getting $126 million and selling stockholders Menlo Ventures and Sky Ventures Ltd. taking the rest.
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.
From:: Stock Market News