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Pizza Hut, a subsidiary of Yum Brands Inc. serving pizza, pasta and wings, said it broke its all-time digital sales record by halftime of Super Bowl 50 on Sunday. It had nearly $12 million in digital sales by day’s end, the company said in a Monday release. The previous record was nearly $10 million. More than 60% of digital orders were placed on a mobile device, exceeding orders placed on desktop computers for the first time. Yum Brands shares are down 3.7% in Monday trading and 9% for the past 12 months. The S&P 500 is down 10.2% for the past year.

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Oil futures fell Monday to settle below $30 a barrel, pressured by ongoing fears about the global oversupply of crude and a lack of action among major producers to cut output. March West Texas Intermediate crude finished at $29.69 a barrel on the New York Mercantile Exchange, down $1.20, or 3.9%. That was the lowest finish since Jan. 21.

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Gold futures jumped 3.5% on Monday to settle at their highest level since June as sharp losses in the U.S. stock market helped to lift the metal’s investment appeal. April gold rose $40.20 to settle at $1,197.90 an ounce on Comex, after tapping an intraday high of $1,201.40. The settlement was the highest since June 19, 2015, when prices settled above $1,201.90.

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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Shares of GoPro Inc. soared as much as 16% on Monday, bucking a huge market selloff. The rally is extended from news late Friday that the company struck a patent licensing agreement with Microsoft Corp. . The two were very secretive about the details of the partnership, saying only that the deal includes “certain file storage and other system technologies.” The rest of it has been deemed confidential. Shares of GoPro are still down 55% over the last three months and 76% on the year. They traded around $11.44 in early-afternoon trade. Shares of Microsoft fell 2.1% to $49.07 in afternoon trade. The Dow Jones Industrial Average was down 300 points.

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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Chesapeake Energy Corp. sought to reassure investors Monday with a short statement clarifying that it is not planning to pursue bankruptcy. The statement came as the stock was halted down 50.7% at $1.51. The company said Kirkland & Ellis LLP is advising it on ways to strengthen its balance sheet, but added that the firm has acted as counsel since 2010 and is not a new hire. “Chesapeake currently has no plans to pursue bankruptcy and is aggressively seeking to maximize value for all shareholders,” said the statement. The second-largest producer of natural gas and 12th largest producer of oil and natural gas liquids in the U.S. has been battered by the falling oil price. Its shares have fallen 92% in the last 12 months, while the S&P 500 is down 10.5%.

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.

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From:: Stock Market News

U.S. stocks opened sharply lower on Monday, led by losses in technology and consumer discretionary sectors. The Nasdaq Composite began the day with sharp losses, down 82 points, or 1.9%, at 4,530. Meanwhile, weaker oil prices put pressure on energy companies. The S&P 500 opened 22 points, or 1.2%, lower at 1,857. The Dow Jones Industrial Average was down 185 points, or 1.2%, at 16,014 at the open.

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