Posted on

Rambus shares rally on earnings beat, outlook

Rambus Inc. shares rallied in the extended session Monday after the semiconductor and IP products company’s quarterly results and outlook topped Wall Street estimates. Rambus shares jumped 11% to $12.48. The company reported adjusted fourth-quarter earnings of 18 cents a share on revenue of $76.8 million. Analysts surveyed by FactSet had forecast 8 cents a share on revenue of $74 million. Rambus estimated full-year 2016 revenue of $310 million and $325 million, while analysts expect $294 million. Rambus also said it acquired U.K. based Smart Card Software Ltd. for 64.7 million British pounds in cash, or about $92.2 million.

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

Posted on

Goldman’s stock tumble to blame for about one-fifth of Dow’s loss

Goldman Sach Group Inc.’s stock tumbled 3.7% in active trade Monday, to close at the lowest level since July 2013, amid broad weakness in the financial sector and the overall stock market. The stock’s price decline of $5.74 accounted for about 39 points, or 19%, of the Dow Jones Industrial Average’s 208-point drop. The SPDR Financial ETF shed 2% on Monday. Goldman’s stock has now lost 3.6% since Goldman reported fourth-quarter results ahead of the Jan. 20 open. The shares have lost 16% just this month, amid a 13% decline in the financial ETF and an 8.8% selloff in 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

Posted on

U.S. stocks sell off in late trade to end sharply lower

U.S. stocks accelerated declines in the last trading hour to finish the day sharply lower on Monday. A renewed rout in oil prices hit energy and materials shares, with the sectors losing 4.5% and 3.3% respectively. Financials also sold off on Monday, falling 2.3%. The S&P 500 closed 29.83 points, or 1.6%, lower at 1,877.07. The Dow Jones Industrial Average fell 208.29 points, or 1.3%, to 15,885.22. Meanwhile, the Nasdaq Composite ended the day down 72.69 points, or 1.6%, at 4,518.49.

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

Posted on

BlackRock boosts its stake in Apple to 5.7%

BlackRock Inc. has boosted its stake in Apple Inc. to about 315.4 million shares, or 5.7% of the technology giant’s shares outstanding, according to a regulatory filing. That’s up from the stake of about 217.1 million shares, or 3.9%, the investment company owned as of the end of the third quarter, according to filing data tracked by FactSet. Apple’s stock fell 0.9% in afternoon trade Monday, erasing an earlier intraday gain of as much as 0.1%. It has tumbled 19% over the past three months, while the Dow Jones Industrial Average has shed 8.8%. BlackRock’s stock, which fell 2.1% on Monday, has slid 14% in three months.

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

Posted on

International Paper and Packaging Corp. stock slumps after Citi downgrades to neutral

Shares of International Paper Co. and Packaging Corp. of America slumped Monday, after Citigroup downgraded them to neutral, after trade publication Pulp & Paper Week cut January prices for kraftliner and corrugated medium, two kinds of containerboard. “While the medium price erosion is not surprising, we were surprised by the kraftliner price cut given commentary on “stronger than expected” December box shipments, high op rates (95.6% in 2015), and recent supply discipline by major producers,” Citigroup analysts wrote in a note. Analysts lowered their 2016 to 2018 estimates for the two companies, as well as for rival WestRock Co. . IP shares fell 9.8% in afternoon trade, and Packaging Corp. was down 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.

…read more

From:: Stock Market News

Posted on

Under Armour partners with Dwayne “The Rock” Johnson

Under Armour has partnered with actor and professional wrestler Dwayne “The Rock” Johnson to create footwear, apparel and accessories based on his film projects. The first items will be a backpack and duffle bag, which will be available on the Under Armour website. The Rock will also create original content for Under Armour based on his fitness regimen, lifestyle and charitable work. Johnson will promote the company’s Connected Fitness platform, including the new Under Armour Health Box and Record application. And he will promote the company’s UA Freedom charity, which supports members of the military, first responders and public safety workers. Under Armour shares are down 2.3% in Monday trading and 24.8% for the past three months. The S&P is down 8.6% for the past three months.

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