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The Securities and Exchange Commission charged research scientist Fei Yan on Wednesday with insider trading on confidential information about Mattress Firm Holding Corp. and Stillwater Mining Company following public announcements that they would be acquired by other companies. Yan allegedly searched the internet for “how sec detect unusual trade” before making a trade that the SEC identified as suspicious through new market surveillance tools. He also allegedly attempted to conceal the trades by using his mother’s brokerage account. She lives in China and Fan also had searched the internet for instructions on “insider trading in an international account.” In a parallel action, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges against Yan on Wednesday.

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From:: Stock Market News

Shares of Box Inc. were climbing 2% in after-hours trade Wednesday after the cloud storage company announced former Apple Inc. executive Stephanie Carullo as its new chief operating officer. Carullo will be taking over for Dan Levin, who has been in the position since 2010 and is also president of Box. He will remain on the board. Carullo comes to Box after leading U.S. sales for Apple’s education business. Before that, Carullo led the data center and virtualization architecture group at Cisco Systems Inc. . Shares of Box have gained 12% in the past three months, compared to the S&P 500’s gain of 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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From:: Stock Market News

Shares of Box Inc. were climbing 2% in after-hours trade Wednesday after the cloud storage company announced former Apple Inc. executive Stephanie Carullo as its new chief operating officer. Carullo will be taking over for Dan Levin, who has been in the position since 2010 and is also president of Box. He will remain on the board. Carullo comes to Box after leading U.S. sales for Apple’s education business. Before that, Carullo led the data center and virtualization architecture group at Cisco Systems Inc. . Shares of Box have gained 12% in the past three months, compared to the S&P 500’s gain of 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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From:: Stock Market News

Shares of PayPal Holdings Inc. were on track to close at a record high Wednesday after the company announced a partnership with Apple Inc . Under the partnership, consumers can use PayPal to pay for items in Apple’s App Store, Apple Music, iTunes and iBooks. The ability to pay with PayPal is available across 12 countries, including the U.S., UK and Australia. The option is available on all Apple devices. PayPal shares were climbing 4% Wednesday afternoon, reaching an intraday high of $57.44. PayPal’s highest close so far was $53.74 on June 26. PayPal shares have been on the uptick recently, with shares gaining 34% in the past three months, compared with the S&P 500’s gain of 4.3%.

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

Oil prices rose Wednesday, settling at their highest level in nearly a week after the Energy Information Administration reported a second-straight weekly drop in U.S. crude supplies. Prices, however, finished below the session’s best levels as the EIA data also showed a weekly rise in U.S. production and a monthly report from the Organization of the Petroleum Exporting Countries revealed a rise in member production in June. August WTI crude rose 45 cents, or 1%, to settle $45.49 a barrel on the New York Mercantile Exchange, following gains in each of the last two sessions.

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

Gold ended higher Wednesday, buoyed by U.S. political uncertainty fueled by Donald Trump Jr.’s release of email exchanges linked to a meeting with a Russian lawyer last year. Investors also digested Congressional testimony from Federal Reserve Chairwoman Janet Yellen, who reiterated the central bank’s “gradual” approach to raising interest rates. August gold rose $4.40, or 0.4%, to settle at $1,219.10 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.

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From:: Stock Market News

Corn prices fell Wednesday, set to mark their lowest settlement in the month to date, after the U.S. Department of Agriculture raised its U.S. production outlook for the commodity. In its July report, the USDA said it expects domestic output of nearly 14.1 billion bushels for 2017/2018 crop year, up 190 million bushels from the forecast a month earlier. September corn fell 4% to $3.85 a bushel in Chicago. A settlement around this level would be the lowest since June 30, 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.

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From:: Stock Market News