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Apple’s stock ends seesaw session with a loss to snap win streak at 9 sessions

Apple Inc.’s stock ended a seesaw session Thursday in negative territory, snapping its win streak at nine sessions despite continued gains in the broader technology sector. The stock rallied as much as 0.5% to an intraday high of $151.74 in the opening minutes, then fell as much as 0.5% to an intraday low of $150.19 at about 10:40 a.m. ET, then turned positive again around midday before falling to close at $150.34. The nine-session losing streak was the longest since the nine-session stretch ending Aug. 25, 2014. Meanwhile, the tech-heavy Nasdaq 100 ticked up 0.1%, marking a 10th straight gain. Apple’s stock has rallied 29.8% year to date, while the Nasdaq 100 has climbed 21.8% and the Dow Jones Industrial Average has gained 9.4%.

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.

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Microsoft rises to record levels after earnings beat

Microsoft Corp. produced much better profit in its fiscal fourth quarter than expected, and shares rose to prices that would be records in late trading Thursday. The company reported net income of $6.5 billion, or 83 cents a share, on sales of $23.3 billion. After adjusting for Windows revenue deferrals and other effects, the company claimed earnings of 98 cents a share on sales of $24.7 billion. Analysts on average expected adjusted earnings of 71 cents a share on sales of $24.3 billion, according to FactSet. Microsoft shares hit an intraday record price of $74.30 and closed at an all-time high of $74.22 Thursday, then gained as much as 2% in immediate trading following the report’s release.

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.

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Aeglea Bio shares down 2% after CEO resigns

Shares of Aeglea Biotherapeutics Inc. fell 2% late Thursday after the company announced that Chief Executive David G. Lowe has resigned, effective immediately. Board member Anthony Quinn has been appointed to serve as interim chief executive officer while the company conducts a comprehensive search for a permanent chief executive officer, the company said in a statement. Shares ended the regular session up 2%.

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.

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AMC shares bounce following tough week of losses

Shares of theater operator AMC Entertainment Holdings Inc. were up 5% intraday on Thursday. AMC stock has been beaten up recently after Barclays downgraded the stock on Wednesday following a Wall Street Journal report earlier in the week saying Chinese regulators had warned that funding the company received from parent company Dalian Wanda Group violated government capital rules. AMC has since denied receiving funding for acquisitions. As this has unfolded, AMC and other cinema stocks have also been beaten up due to poor box office performance and the threat of collapsing theatrical windows. B. Riley analyst Eric Wold said AMC’s stock paring losses points to some rational thoughts coming back to AMC investors. “We believe that some of the sell-side concerns around [premium video on demand] have been stretch concerns without a basis in reality around both what is best for the industry or, more importantly, catering to what consumers actually desire,” Wold said in an email. “As for the Wanda situation, once AMC made it clear that Wanda has not been involved in the company’s financing or acquisition activity, the issues around Wanda should be centralized to Wanda and have no impact on AMC.” Shares of AMC have declined more than 38% in the year to date, while the S&P 500 index is up nearly 11%.

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House Republicans move to repeal new CFPB arbitration rule

In the wake of the Consumer Financial Protection Bureau unveiling a new rule to ban companies from using mandatory arbitration clauses, Sen. Tom Cotton, R-Ark., immediately announced that he was launching an effort in the Senate to rescind the rule, stating that the CFPB has “gone rogue again” and is “abusing its power.” Now, Republicans in the House of Representatives are joining their Senate colleagues in moving to repeal the CFPB’s controversial rule. …read more

From:: Real Estate Wire

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New Business Surges at MGIC, Defaults Sink

As quarterly earnings increased at MGIC Investment Corp., new business improved and the share of insured loans that were past due turned lower.

Income before income taxes at the Milwaukee-based mortgage insurance company worked out to $181 million during the three months ended June 30.

Earnings data, as well as other operational and financial performance metrics, were revealed by MGIC in its second-quarter 2017 earnings report.

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O.J. Simpson granted parole, could be released as early as October from Nevada prison

A Nevada parole board has granted former football star and celebrity O.J. Simpson an early release from Lovelock Correctional Center. The 70-year-old Simpson said during his parole hearing that he has “lived a conflict free” life since being convicted in 2008 of an armed robbery to regain sports memorabilia linked to the ex-athlete. Simpson could be released from the correctional facility as early as October after about nine years in prison. The celebrity appeared emotional after the board’s decision. Simpson, along with other men that he enlisted, tried to retrieve sports items that he claims were stolen from him. In 1994, Simpson was found not guilty in the 1994 murder of ex-wife Nicole Brown Simpson and Ronald Goldman. He later lost a civil suit related to that matter. That case has been the subject of a number of documentaries and movies.

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O.J. Simpson parole board begins deliberations on early release

A Nevada parole board has begun deliberating over the early release of former football star and celebrity O.J. Simpson from Lovelock Correctional Center. The 70-year-old Simpson said during his parole hearing that he has “lived a conflict free” life since being convicted in 2008 of an armed robbery to regain sports memorabilia linked to the ex-athlete. The parole board is expected to deliberate for about 20 or 30 minutes, according to reports. If approved, he could be released from the correctional facility as early as October after about nine years in prison. Simpson, along with other men that he enlisted, tried to retrieve sports items that he claims were stolen from him. In 1994, Simpson was found not guilty in the 1994 murder of ex-wife Nicole Brown Simpson and Ronald Goldman. He later lost a civil suit related to that matter. That case has been the subject of a number of documentaries and movies.

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.

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Oil prices retreat from six-week high

Oil finished lower Thursday, pulling back after a bigger-than-expected weekly drop in U.S. crude supplies sent prices to a six-week high a day earlier. Traders continued to fret over rising output from the U.S., Libya and Nigeria, ahead of a meeting of major oil producers set for Monday in Russia. August WTI crude , which expired at the day’s settlement, lost 33 cents, or 0.7%, to settle $46.79 a barrel on the New York Mercantile Exchange. September WTI oil, the new front-month contract, settled at $46.92, down 40 cents, or 0.9%.

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.

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From:: Stock Market News