Category: Stock Market News

Shares of A.P. Moeller-Maersk AS rallied 5.1% in Copenhagen on Monday after the Danish oil and shipping giant said it has agreed to sell its oil and gas unit to French energy major Total SA for $7.45 billion. Total will pay for Maersk Oil with a mix of $4.95 billion worth of shares and $2.5 billion in short-term debt, giving the Danish conglomerate a 3.76% stake in Total. With the sale, Maersk has now started the process of divesting its energy units and will instead focus on its transport business. Maersk is the world’s biggest shipping company. Shares of Total were down 0.6% in early European trade.

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

Sempra Energy has reached a $9.45 billion deal to buy Texas utility Oncor Electric Delivery Co., the Wall Street Journal reported Sunday night. Earlier Sunday, Bloomberg News reported the deal was imminent. Oncor’s parent is the bankrupt Energy Future Holdings Corp., and rumors have been flying for months over who might buy the unit. In July, Warren Buffett’s Berkshire Hathaway was said to be near a $9 billion deal, and hedge fund Elliott Management Corp. has also been in the mix. The Journal said the deal was sealed Sunday, and will be announced soon. The purchase still needs to be approved by a bankruptcy judge. San Diego-based Sempra emerged as a “mystery bidder” Friday.

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

The USS John S. McCain collided with a merchant ship near Singapore early Monday, and U.S. Navy officials said search and rescue operations are underway for 10 missing sailors. The guided-missile destroyer reportedly suffered damage to its port side, and officials with the U.S. 7th Fleet said five people suffered minor injuries. CNN reported parts of the ship were battling flooding, and the ship’s power and propulsion were limited. Officials said the incident happened around 6:24 a.m. local time in the Strait of Malacca as the ship was headed for Singapore for a routine port visit. The ship was commissioned in 1994 and is named for both the father and grandfather of Sen. John McCain, both of whom were onetime U.S. Navy admirals. In June, seven U.S. sailors were killed when another destroyer, the USS Fitzgerald, crashed into a merchant ship off Japan. Last week, the Navy relieved that ship’s top commanders from their posts, citing “serious mistakes.”

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

The USS John S. McCain collided with a merchant ship near Singapore early Monday, and U.S. Navy officials say search and rescue operations are underway for missing sailors. The guided-missile destroyer reportedly suffered damage to its port side. Officials said the incident happened around 6:30 a.m. local time in the Strait of Malacca as the ship was headed for Singapore for a routine port visit. The ship was commissioned in 1994 and is named for both the father and grandfather of Sen. John McCain, both of whom were onetime U.S. Navy admirals. In June, seven U.S. sailors were killed when another destroyer, the USS Fitzgerald, crashed into a merchant ship off Japan. Last week, the Navy relieved that ship’s top commanders from their posts, citing “serious mistakes.”

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

The USS John S. McCain collided with a merchant ship near Singapore early Monday, and U.S. Navy officials say search and rescue operations are underway for missing sailors. The guided-missile destroyer reportedly suffered damage to its port side. Officials said the incident happened around 6:30 a.m. local time in the Strait of Malacca as the ship was headed for Singapore for a routine port visit. The ship was commissioned in 1994 and is named for both the father and grandfather of Sen. John McCain, both of whom were onetime U.S. Navy admirals. In June, seven U.S. sailors were killed when another destroyer, the USS Fitzgerald, crashed into a merchant ship off Japan. Last week, the Navy relieved that ship’s top commanders from their posts, citing “serious mistakes.”

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

Sempra Energy is close to a $9.3 billion deal to buy Texas utility Oncor Electric Delivery Co., Bloomberg News reported Sunday. Oncor’s parent is the bankrupt Energy Future Holdings Corp., and rumors have been flying for months over who might buy the unit. In July, Warren Buffett’s Berkshire Hathaway was said to be near a $9 billion deal, and hedge fund Elliott Management Corp. has also been in the mix. Bloomberg said the deal is not yet compete, but may be announced as soon as Monday. San Diego-based Sempra is apparently the mystery buyer that emerged Friday.

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

Billionaire investor Carl Icahn said Friday he’s stepping down as a special adviser to President Donald Trump on regulatory-reform issues. Icahn said in a letter he and the president agreed that he would cease the role. He wrote that he didn’t want “partisan bickering about my role” to cloud the administration or the work of Neomi Rao, who has been appointed Trump’s regulatory czar. Icahn didn’t mention Trump’s reaction to the violence at a white-supremacist rally in Charlottesville, Va., but his resignation comes after several executives abandoned White House business councils after Trump said “both sides” were to blame.

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

Fitch Ratings late Friday upgraded its rating on Greece’s sovereign debt one notch to B-, from CCC, with a positive outlook, saying that country’s economy is “gradually recovering” and public finances are improving. The country’s debt sustainability “will steadily improve,” underpinned by on-going compliance with the terms of the European Stability Mechanism program, and reduced political risk, sustained GDP growth, and additional fiscal measures to take effect through 2020, Fitch said in a statement. The B-rating is “highly speculative.” Greece last month returned to the bond market for the first time since 2014, selling 3 billion euros of five-year bonds, on offer that was oversubscribed. Ratings agency Moody’s Investors Service in June also upgraded Greece’s debt.

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

U.S. stock-market indexes ended the second straight week with losses after lackluster performance on Friday following White House Chief Strategist Stephen Bannon’s ouster from the administration. The S&P 500 closed 4.46 points, or 0.2%, lower at 2,425.55 and booked a 0.7% weekly loss. The top loser on the S&P 500, Foot Locker, Inc. plunged 28% on Friday following earnings that missed expectations. The Nasdaq Composite index , which traded in positive territory most of the session, ended 5.39 points, or 0.1%, lower at 6,216.53, and booked a 0.6% loss over the week. The Dow Jones Industrial Average declined 76.22 points, or 0.4%, to 21,674.51 and fell 0.8% over the week. Weighing on the blue-chip index, Nike, Inc. fell more than 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

The Dow Jones Industrial Average Friday afternoon was being dragged lower by shares of Nike and Home Depot, as blue chips looked to close out another downbeat week, its fourth in succession, in negative territory. Shares of Nike Inc. , off 2.34, or 4.1%, and Home Depot Inc. , down $2.16, or 1.5%, together were weighing the Dow down by more than 30 points. Each $1 move in any of the price-weighted Dow’s components its equivalent to a 6.84-point swing in the equity average. Overall, the Dow was off 33 points, or 0.2%, adding to Thursday’s drop, which was the worst for the gauge since May 17; and snapped a 63-session streak without a decline of at least 1%. The Dow is set to end the week down about 0.6%, marking its fourth straight weekly drop since June 30, a sign that the industrials are losing momentum after a run of repeated all-time highs. Friday’s trade was volatile as the market, during a thinly traded August session, reacted to political news events, notably the announcement that White House adviser Stephen Bannon was ousted amid a fervor of President Donald Trump’s reaction to a white-supremacist rally over the weekend. The rest of the market was fighting to post slight gains. The S&P 500 index was trading up less than 0.1% at 2,431, while the Nasdaq Composite Index was up 0.2% at 6,232.

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