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Shares of GoPro Inc. slumped on Friday after an analyst issued a downbeat outlook for the maker of action cameras. “Growth is seemingly becoming more difficult for GoPro, highlighted by comments [from the company] suggesting the HERO4 Session camera may require more education around its attributes,” analyst Jim Duffy at Stifel. Monetization of content has also yet to gain momentum, he added. GoPro shares fell 4.8% to $34.58. The stock is down more than 45% year to date and is off nearly 40% over the past month.

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. Environmental Protection Agency on Friday accused Volkswagen AG’s Volkwagen and Audi divisions of violating the Clean Air Act, alleging the German car maker equipped certain diesel cars sold in the U.S. with software that circumvented emissions standards. The allegations cover 482,000 cars sold since 2008, including Jettas, Beetles, Audis A3 and Golfs model years 2009 to 2015 and Passats model years 2014 and 2015. The software detected when the cars were undergoing official emissions testing and turned out full emission controls only during the test, not during normal driving conditions. Such cars would emit pollutants at up to 40 times the standard, the EPA said. The EPA said owners of the cars affected need to take “no immediate action” at this time, and that the cars are safe and legal to drive despite having emissions that exceed standards. Volkswagen Group of America Inc. could not immediately be reached for comment. Since civil penalties for each car in violation run about $35,500, Volkswagen could be on hook for more than $17 billion in penalties plus other fines.

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) — Businesses outside the financial sector racked up new debt at an annual rate of 8.3% in the second quarter, the Federal Reserve reported Friday. That was the fastest growth since the first quarter of 2008 and was driven mostly by corporate bond issuance, the Fed said. While issuing debt, the corporate stockpile of cash rose to $2.06 trillion from $1.99 trillion. The Fed report also shows that households and nonprofits saw their net worth increase by $695 billion in the second quarter, mostly due to the rise in home values but also due to the stock market. Household credit grew 3.9% in the second quarter, mostly due to student and auto loans. The total debt outside the financial sector — of households, businesses and all forms of government — rose to $43.98 trillion from $43.51 trillion.

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

Qualcomm Inc. is cutting 1,314 full-time jobs in San Diego and hundreds more in other centers in its latest cost-cutting, The San Diego Union-Tribune reported on Friday. The wireless chip maker sent 60-days notice warnings to laid-off workers, who will have their final day on Nov. 20, the paper reported. Qualcomm said in July that it was planning to cut its workforce by 15% in the next year as it seeks to cut costs by $1.4 billion annually. The company is regrouping to cope with a maturing smart phone market.

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) — The Conference Board’s leading economic index edged up 0.1% in August after a flat reading in June. “The U.S. LEI suggests economic growth will remain moderate into the New Year, with little reason to expect growth to pick up substantially,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board, in a statement.

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

By Eric Jay Toll

Home ownership in Phoenix plummeted by more than 12 percent between 2005 and 2014, according to the Census Bureau’s new American Community Survey.

In 2005, Phoenix was second in ownership tenancy to Riverside, California, with 68.1 percent of the Valley’s population owning homes. In Riverside, 69.7 percent of the population owned homes.

By the end of 2014, that number dropped to 59.6 percent in Phoenix, and only to 67.8 percent in Riverside. In a comparison of markets hard-hit by the Great… …read more

From:: biz journal foreclosures

Sealed Air Corp. said on Friday its 2015 sales would be hurt more than previously expected by unfavorable currency movements, according to a regulatory filing. The bubble wrap maker now expects currency movements to reduce sales to by nearly $800 million, compared with a previous forecast of about $700 million. The company expects currency translation to lower 2015 adjusted earnings before interest, taxes, depreciation and amortization by about $125 million, compared with a previous expectation of $110 million. The stock, which fell 1.3% in morning trade, has run up 19% year to date, while the S&P 500 has shed 4.4%.

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

U.S. stocks opened sharply lower on Friday as fears about global growth resurfaced a day after the Federal Reserve left its key borrowing rate unchanged. The main indexes looked set to erode weekly gains. The S&P 500 fell 18 points, or 0.9%, to 1,972. The Dow Jones Industrial Average dropped 188 points, or 1.1%, to 16,483 at the open. The Nasdaq Composite began the day down 56 points, or 1.1% at 4,838.

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) – The U.S. government announced Friday it is easing restrictions on Americans conducting business related to travel, telecommunications and Internet-based services in Cuba. The amendments to Cuba sanctions regulations will ease travel restrictions, allow firms to set up a business presence and offices in Cuba and allow them to open bank accounts. The new rules go in place Monday.

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

Stocks are heading into a seasonally weak period, particularly following September options expiration, said Jason Goepfert, president of Sundial Capital Research. Friday marks what is known as “quadruple witching,” which is the simultaneous expiration of stock-index futures, stock-index options, stock options and single-stock futures. Goepfert said over the last 25 years, the S&P 500 has declined in the week following September options expiration 21 times, with a median loss of 1.3%. S&P 500 futures were down 1% ahead of Friday’s 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