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GameStop Corp.’s stock tumbled 12% in morning trade Friday, putting it on track to close at a six-month low, after the videogame retailer was downgraded at Pacific Crest, which cited valuation and an uncertain growth outlook. Analyst Evan Wilson cut his rating to sector weight, after being at overweight for the last 10 months. Wilson said he had turned bullish on the stock given the possibility of a return to new software growth this year, and further potential for growth in 2016. Given recent industry data, which showed software sales declining in October, he said his hope for a return to new physical software growth “looks more risky.” With the stock’s appreciation this year–it has soared 32% year to date through Thursday while the S&P 500 had lost 0.6%–“and a smaller chance for growth, we think due largely to digital, we’re downgrading it to sector weight,” Wilson wrote in a note to clients.

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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WASHINGTON (MarketWatch) – The U.S. economy can handle a rate hike, said Cleveland Fed president Loretta Mester, on Friday. In a speech prepared for delivery to The City Club of Cleveland, Mester said history will ultimately judge the Fed’s unconventional actions since the financial crisis based on the U.S. central bank’s ability to demonstrate that there is a way out. “The time to start that demonstration is quickly approaching,” Mester said. Economic growth should rebound to a 2.5%-2.75% annual rate over the next 15 months, from the 1.5% rate in the third quarter, the Cleveland Fed President said. The labor market will continue to improve although the big 271,000 gain in October payrolls is unlikely to be repeated. Mester, who will be a voting member next year, also said she is reasonably confident inflation will move up to the Fed’s 2% target.

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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WASHINGTON (MarketWatch) — Consumer sentiment took an upward turn for the second month, with the preliminary reading of the University of Michigan index rising to a reading of 93.1 in November from 90 in October. That’s above the 91 reading expected in a MarketWatch-compiled economist poll, and the November result puts it back on par with July’s levels.

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

The U.S. Food and Drug Administration said Friday it has granted accelerated approval for Tagrisso as a treatment for patients with advanced non-small cell lung cancer. The drug is marketed by AstraZeneca Plc . The approval is for patients whose tumors have an epidermal growth factor receptor mutation (EGFR) T790M, and who have deteriorated after being treated with other EGFR-blocking therapy, the FDA said in a statement. Lung cancer is the leading cause of death by cancer in the U.S., with about 158,040 deaths in 2015 so far, and about 221,200 new diagnoses. AstraZeneca ADRs were trading up 0.2%.

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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From:: Stock Market News

U.S. stocks opened lower on Friday with the main benchmarks on track to record their first weekly loss in seven weeks. Weak earnings results and downbeat outlooks from retailers weighed on sentiment, while weaker-than-expected retail sales added to selling pressure. The S&P 500 opened 5 points, or 0.2%, lower at 2,041. The Dow Jones Industrial Average shed 42 points, or 0.2%, to 17,412. The Nasdaq Composite began the day down 19 points, or 0.4%, at 4,986.

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

WASHINGTON (MarketWatch) – U.S. producer prices fell 0.4% in October, reflecting lower revenues generated by retailers and wholesalers. Economists surveyed by MarketWatch had predicted a seasonally adjusted 0.3% increase. Excluding the volatile categories of food, energy and trade, core prices fell a smaller 0.1%. The price of services dropped 0.3% while goods declined 0.4%. Over the past year overall producer prices have fallen 1.6% in unadjusted terms. Core wholesale prices are up 0.4% in the same span, however.

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

WASHINGTON (MarketWatch) – Sales at U.S. retailers rose just 0.1% in October, held down by lower spending at gas stations, auto dealers and grocery stores. Economists polled by MarketWatch had forecast a seasonally adjusted 0.4% increase. Although the number of autos sold last month was quite strong, sales fell a seasonally adjusted 0.5%, perhaps suggesting heavier discounting. Sales at gas stations also fell again, but that’s a good thing for consumers. Stripping out gas and autos, sales rose a somewhat better 0.3%, the Commerce Department said Friday. So-called control group sales that factor into GDP rose 0.2%. In September, sales were revised lower to show no gain.

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

Yelp Inc.’s stock surged 4.6% in premarket trade Friday, after the online business review service was upgraded at RBC Capital, which cited a “highly attractive” risk-versus-reward investment scenario. Analyst Mark Mahaney raised his rating to outperform after being at sector perform for the last 6 1/2 months. He raised his stock price target to $42, which is 62% above Thursday’s closing price of $25.90, from $34. That compares to his assessment of downside risk in the stock of 20%. Mahaney said he believes that after the stock “dramatically underperformed”–it had tumbled 53% year to date through Thursday while the S&P 500 has slipped 0.6%–valuations are now “very close to trough multiples.” And following a meeting with management, he sees “unique core and strategic value” in the stock. “Overall, we still view Yelp has a top-of-funnel, strong-brand unique asset with downstream transaction capability,” Mahaney wrote in a note to clients.

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

J.C. Penney’s Co. reported on Friday a fiscal third-quarter loss that narrowed to $137 million, or 45 cents a share, from $188 million, or 62 cents a share, in the same period a year ago. The FactSet consensus was for a per-share loss of 56 cents. Revenue rose 4.8% to $2.897 billion, just above the FactSet consensus of $2.884 billion. The stock slumped 5.6% in premarket trade. On Wednesday, the department store chain’s stock had lost 1.8% after the company reported better-than-expected same-store sales and said earnings and gross margin were above forecasts, but also said it would make $50 million available as part of a settlement of a class action lawsuit. For fiscal 2015, the company expects same-store sales growth in the range of 4% to 5%, surrounding the FactSet consensus of 4.4%, and expects gross margin to improve by 100 to 150 basis points. The stock has soared 36% year to date through Thursday, while the S&P 500 has slipped 0.6%.

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

Add a festive, seasonal touch with soft paint hues, real greenery, and a perch with patina …read more

From:: DIY this old house