Slip into the fall state of mind with this cozy color …read more
From:: DIY this old house
U.S. stock futures drop as China’s post-holiday gains disappoint
U.S. stock futures fell in early trading on Thursday, reflecting some disappointment in the performance of equities in China, where trading resumed after a multi-day holiday break. Futures for the Dow industrials fell 107 points, or 0.6%, to 16,707, while those for the S&P 500 slipped 12.95 points, or 0.7%, to 1,974. Futures for the Nasdaq 100 dropped 30.5 points, or 0.7%, to 4,293.25. Those losses come on the heels of a higher close for U.S. stocks on Wednesday, driven by gains for health-care stocks. The Shanghai Composite Index was last up 3.3% to 3,165.74. But those gains paled in comparison to gains for the Hong Kong Hang Seng index over the last several days as China markets have been closed, noted Angus Nicholson, market analyst at IG. “Given the HSCEI rallied 11.5% in that time, for mainland shares only to rise 3%-4% since their last close is pretty disappointing,” he said in an emailed response to a question.
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.
From:: Stock Market News
Is Colorado plagued by ‘zombie’ foreclosures?
They are known as zombie foreclosure and in some cities they plague neighborhoods.
But not in Denver or Colorado. In Colorado, where there are 1.6 million residential properties, only 85 are considered “zombie” foreclosure — that means the legal process has started but the bank has not yet repossessed the home, and the home is vacant.
Across the country, about 20,000 U.S. residential properties are in the foreclosure process — but not yet repossessed by the foreclosing lender — those are… …read more
From:: biz journal foreclosures
Stock future drop as China’s post-holiday gains disappoint
U.S. stock futures fell in early trading on Thursday, reflecting some disappointment in the performance of equities in China, where trading resumed after a multi-day holiday break. Futures for the Dow industrials fell 107 points, or 0.6%, to 16,707, while those for the S&P 500 slipped 12.95 points, or 0.7%, to 1,974. Futures for the Nasdaq 100 dropped 30.5 points, or 0.7%, to 4,293.25. Those losses come on the heels of a higher close for U.S. stocks on Wednesday, driven by gains for health-care stocks. The Shanghai Composite Index was last up 3.3% to 3,165.74. But those gains paled in comparison to gains for the Hong Kong Hang Seng index over the last several days as China markets have been closed, noted Angus Nicholson, market analyst at IG. “Given the HSCEI rallied 11.5% in that time, for mainland shares only to rise 3%-4% since their last close is pretty disappointing,” he said in an emailed response to a question.
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.
From:: Stock Market News
CytomX prices IPO below range at $12 a share
CytomX Therapeutics Inc. announced Wednesday afternoon that it would charge $12 a share in its initial public offering, bringing in at least $80 million. The Silicon Valley biopharmaceutical company expected to price its initial batch of shares in a range of $14-$16, but instead priced 6.67 million shares lower amid turbulence in the IPO market. Medical-device company NovoCure Ltd. — which, like CytomX, fights cancer — priced its IPO well below the initial range last week and received a lower valuation than its last venture round, and Pure Storage Inc. fell below its latest private valuation in a Wednesday debut. The South San Francisco, Calif., company said in its federal filing that an existing investor had expressed interest in buying up to $15 million of the IPO shares, and 5% would be reserved for purchase by directors, employees and others in a reserved share program; another 1 million shares are available to the underwriters if demand exists. CytomX sold all the shares in its offering, with venture investors holding their stakes, and is expected to begin trading Thursday morning on the Nasdaq exchange under the ticker CTMX.
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.
From:: Stock Market News
EMC jumps after report of Dell merger interest
The Wall Street Journal reported Wednesday afternoon that Dell Inc. is in talks with EMC Corp. about a potential merger, sending EMC shares flying higher in late trading. Sources told the Journal that Dell, which founder and CEO Michael Dell took private with the help of Silver Lake Partners two years ago, is seeking to buy all or part of the large data-storage company. EMC ended trading Wednesday with a market capitalization just short of $50 billion, which would make a deal for all of the company potentially the largest tech takeover of its kind. The Massachusetts company has faced pressure from activist investor Elliott Management Corp., and the Journal previously reported that EMC was undergoing a strategic review. EMC shares jumped as much as 9.3% after the report hit, touching $28 after closing with a 0.6% advance at $25.96.
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.
From:: Stock Market News
Cardiovascular Systems shares fall on disappointing outlook
Cardiovascular Systems Inc. shares dropped in the extended session Wednesday after the medical device company forecast quarterly results below the Wall Street consensus. Cardiovascular Systems shares fell 20% to $13.35. The company reported a preliminary fiscal first-quarter loss of 41 cents to 43 cents a share on revenue of about $43.9 million. Analysts surveyed by FactSet had forecast a loss of 39 cents a share on revenue of $49.4 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.
From:: Stock Market News
Amazon shares rebound after report of live TV service ambitions
Amazon.com Inc. shares bounced back in afternoon trade on Wednesday, following a Bloomberg report that the retail giant may be exhibiting interest in launching a live online TV service. The report, citing people familiar with the situation, said Amazon has reached out to CBS Corp. and Comcast Corp.’s NBCUniversal. The service would reportedly look like Dish Network Corp.’s Sling TV or Sony Corp.’s Playstation Vue. A spokeswoman from Amazon had no comment on the reports. The company’s shares dropped a little more than 2% in intraday trade as investors did not seem excited about the retail giant’s announcements during its Amazon Web Services (AWS) conference. Amazon announced new database services, upgrades and a partnership with Accenture for a new business group to help clients move their operations to the cloud. Amazon shares are up 74% in the year, while the S&P is down 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.
From:: Stock Market News
Ann brands CEO Kay Krill to step down, replaced by Gary Muto
Women’s apparel company Ascena Retail Group Inc. said late Wednesday Kay Krill is stepping down as president and chief executive of Ann Inc., a subsidiary of Ascena, to join the parent company’s board of directors. Gary Muto will replace Krill as CEO of Ann, the Ascena unit behind the Ann Taylor, Loft and Lou & Grey brands. Muto has been president of Ann brands since 2014. Shares of Ascena were flat in late trading Wednesday after ending the regular trading session up 3.7%. Ascena, which bought Ann earlier this year for about $2 billion, is one of the largest women’s clothing retailers with brands such as Dressbarn, Justice and Lane Bryant.
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.
From:: Stock Market News
Lumber Liquidators stock rallies after company announces DOJ settlement
Flooring retailer Lumber Liquidators Holdings Inc. said Wednesday it has settled with the Justice Department in case related to certain foreign suppliers of the Toano, Va., company harvesting more timber than their permits allowed, and the imports of flooring products made from that timber. As part of the settlement, the company has agreed to plead guilty to violations of customs laws and to pay $10 million in fines, community contributions, and other payments. Lumber Liquidators said it set money aside for the settlement in the first quarter. Shares of Lumber Liquidators have lost 78% so far this year. In March, a TV news magazine “60 Minutes” report alleged that Lumber Liquidators was selling Chinese-made laminates that contained higher-than-accepted levels of formaldehyde, a chemical known to cause cancer. The products were falsely labeled as compliant to California standards on formaldehyde emissions, “60 Minutes” said, but testing found alarmingly high levels of the chemical. Wednesday’s settlement is unrelated to those products, Lumber Liquidators said. Shares rose 10% in after-hours trading Wednesday after ending the regular trading session up 3.6%.
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.
From:: Stock Market News