Category: Stock Market News

Oil prices rose in electronic trading Wednesday after the American Petroleum Institute reported a drop of 8.7 million barrels in U.S. crude supplies for the week ended May 26, according to sources. The report was issued a day later than usual due to Monday’s Memorial Day holiday. The API data also showed a fall of 1.7 million barrels in gasoline supplies, while inventories of distillates were up 124,000 barrels, sources said. Supply data from the Energy Information Administration will be released Thursday morning. Analysts polled by S&P Global Platts forecast a fall of 3.2 million barrels in crude inventories. July crude was at $48.79 a barrel in electronic trading, up from the contract’s settlement of $48.32 on the New York Mercantile Exchange.

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

PG&E Corp. has increased its quarterly dividend by 4 cents a share to 53 cents a share, the utility said in a statement late Wednesday. The dividend is payable on July 15 to shareholders of record on June 30. In the same statement, the company said Chief Executive and President Geisha Williams was elected to the PG&E board, alongside former U.S. Secretary of Homeland Security Jeh C. Johnson. Shares of PG&E were flat after hours and ended the regular session up 0.7%.

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.

…read more

From:: Stock Market News

Marathon Petroleum Corp. said late Wednesday its board of directors approved an additional $3 billion share buyback program. The previous authorization has about $2.14 billion remaining as of late March, the refiner said. Shares of Marathon were flat in after hours trading, and ended the regular session down 0.7%.

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.

…read more

From:: Stock Market News

Apple Inc. has begun manufacturing a virtual-assistant speaker similar to Amazon.com Inc.’s Echo device and Alphabet Inc.’s Google Home that will use its Siri voice-controlled assistant, according to a Wednesday report. Bloomberg News reporter Mark Gurman, citing anonymous sources, said the device could be unveiled as early as Apple’s annual developer conference next week, but would not be available to the public until later this year. The report said Apple’s product would differ from rivals because of virtual surround sound technology and deep integration with Apple’s other gadgets, such as the iPhone and HomeKit, Apple’s smart-home software platform. Apple employees have reportedly been testing the device at their own homes for months. Apple stock was headed for a slight decline before the report was released Wednesday, with shares down about 0.5%.

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. taxpayers may have overpaid for EpiPen by as much as $1.27 billion from 2006 through 2016, U.S. Sen. Chuck Grassley said Wednesday, citing an estimate from the Department of Health and Human Services Office of Inspector General. The Iowa Republican said that’s far more than the $465 million that EpiPen maker Mylan agreed to in settlement negotiations with the Justice Department.

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 dropped Wednesday to tally a decline of more than 2% for the month. Traders continued to fret over the potential for further growth in U.S. crude production following the Organization of the Petroleum Exporting Countries’ decision last week to extend the existing production-cut agreement. July WTI crude lost $1.34, or 2.7%, to settle $48.32 a barrel on the New York Mercantile Exchange.

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

White House press secretary Sean Spicer said Wednesday questions about ongoing probes into possible Trump campaign contacts with Russian officials should be directed to President Donald Trump’s private lawyer. Last week, Trump retained attorney Marc Kasowitz to represent him in matters related to Russian interference in the election. Spicer said the White House is focused on Trump’s agenda.

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

Audi of America Inc. has received the green light from the state of New York to test driverless vehicles on the state’s public roads, the state said Wednesday. The company, an arm of Volkswagen Grup AG’s [s:xe: vow] Audi, is the first to receive approval under a year-long pilot program the state announced earlier this month. Audi plans to conduct its first test and demo on June 13 in Albany, the state said.

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

Comcast Corp-owned NBC News on Wednesday said it has made a significant investment in international news network Euronews. The dollar amount of the acquisition was not disclosed, but NBC News will acquire 25% of Euronews with the funding going to support expanded news coverage and programming across Europe, according to a news release. “Euronews has unmatched scale as well as the unique ability to offer international coverage rooted in sensibility in every country and language it spans,” NBC News Chairman Andrew Lack said in a statement. He also said the partnership is perfect as NBC News looks to strengthen its reach globally. Deborah Turness, who serves as president of NBC News International, will head the NBC side of the operation and will work in partnership with Euronews Chief Executive Michael Peters. Euronews employs nearly 500 journalists and reaches 434 million homes across 158 countries in 12 languages on both TV and digital platforms. Shares of Comcast are up more than 20% in the year to date, while the S&P 500 index is up nearly 8%.

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 prices settled higher Wednesday, then pulled back in electronic trading shortly after the release of the U.S. Federal Reserve’s Beige Book. The report, which offers a snapshot of domestic economic activity, appeared to strengthen the case for a Fed interest-rate hike in June. August gold was at $1,273.70 an ounce in electronic trading. Prices gained $9.70, or 0.8%, to settle at $1,275.40 an ounce for the session. For the month, prices, tracking the most-active contracts, rose about 0.6%, according to FactSet 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