What’s new

Alliance HealthCare Services Inc. said late Wednesday that a majority of its outstanding shares will be purchased by Chinese investment holding company Fujian Thai Hot Investment Co. Fujian entered an agreement with Oaktree Capital Management LP, MTS Health Investors LLC, and Larry Buckelew to buy about 5.5 million Alliance shares for $102.5 million, or $18.50 a share. Alliance outsources healthcare services such as diagnostic radiology and cancer treatments. The stake represents 51.5% of the outstanding shares in the company, Alliance said. Oaktree owns 44.2% of outstanding shares and MTS owns a 4.3% stake, according to FactSet data. Alliance shares were unchanged after hours at $16.93.

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.

…read more

From:: Stock Market News

By Brian Bandell

There was a significant reduction in foreclosure filings in South Florida in August, according to RealtyTrac.

There were 1,481 foreclosing filings in the tri-county region, a 47 percent drop from July and a 38 percent reduction from August 2014. That means there are fewer foreclosure lawsuits, judgment and repossessions.

There was one foreclosure filing for every 568 homes in South Florida during August, ranking the Sunshine State 11th nationally. The region previously had the highest foreclosure… …read more

From:: biz journal foreclosures

Apple Inc. bought San Francisco mapping startup Mapsense for $25 million to $30 million, Recode reported Wednesday, part of an ongoing effort to build out its maps to challenge rival Google Inc. The two-year-old startup had raised $2.5 million in seed funding and had 12 employees, according to the report. Recode’s report arrives a day after The Register detailed a secretive 3-D-mapping effort Apple has reportedly built in Sweden. Apple launched its Apple Maps rival to Google Maps in 2012, but then-new CEO Tim Cook had to apologize to users for the app’s failures not long after it was released. Since then, Apple has tried to improve its mapping capabilities, including through other acquisitions like the purchase of GPS firm Coherent Navigation earlier this year. Apple shares closed with a 0.1% gain at $116.41, and that price did not change after the acquisition report landed during late trading.

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.

…read more

From:: Stock Market News

Aerie Pharmaceuticals Inc. shares skyrocketed late Wednesday after the drug developer said its glaucoma treatment met its primary endpoint in a late-stage clinical trial. Aerie shares surged 70% to $30.59 on heavy volume. The company said its glaucoma treatment Rhopressa worked just as well as another treatment, timolol. Aerie said it expects to file a marketing application for Rhopressa with the Food and Drug Administration in mid-2016.

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.

…read more

From:: Stock Market News

Herman Miller Inc. shares rallied in the extended session Wednesday after the furniture company’s quarterly results and outlook both topped Wall Street estimates. Herman Miller shares surged 7% to $29.82. The company reported fiscal first-quarter earnings of 56 cents a share on revenue of $565.4 million. Analysts surveyed by FactSet had estimated 46 cents a share on revenue of $554.4 million. Herman Miller said it expects second-quarter earnings of 52 cents to 56 cents a share on revenue of $570 million to $590 million. Analysts estimate 51 cents a share on revenue of $573.6 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.

…read more

From:: Stock Market News

Under Armour Inc. said Wednesday it forecast net revenue of $7.5 billion by 2018, a 25% compounded annual growth rate from the $3.1 billion in revenue the sports apparel and equipment maker reached last year. The company also plans to spend between 8% and 10% of its revenue every year, deploying capital “at an elevated rate” in order to position itself for “success well beyond our 2018 targets,” Under Armour said. Shares of Under Armour rose 0.2% in late trading Wednesday after ending the regular session up 4.7% at $103.36, a record close for the stock.

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.

…read more

From:: Stock Market News

The Justice Department on Wednesday said it won’t challenge travel-booking site Expedia’s purchase of competitor Orbitz . “We concluded that the acquisition is unlikely to harm competition and consumers,” said Assistant Attorney General Bill Baer in a statement. Baer said Justice found no evidence the merger would result in new charges being imposed directly on consumers for using either site.

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.

…read more

From:: Stock Market News

Oracle Corp. released quarterly earnings Wednesday that beat profit expectations but were light on revenue. The Silicon Valley software giant reported net income of $1.75 billion, or 40 cents a share, on sales of $8.45 billion; after adjustments, Oracle claimed profit of 53 cents a share. Analysts expected adjusted profit of 52 cents a share on sales of $8.53 billion, according to a FactSet survey. The company’s cloud revenue was disappointing, as Oracle looks to catch up to Salesforce and other software-as-a-service rivals: Oracle reported total cloud revenues of $611 million, while analysts expected $630 million on average. The company’s cloud business accounted for 7% of Oracle’s total sales, after being 5% in the same quarter last year. Shares bounced around in late trading immediately after the report, vacillating between gains and losses after closing with a 0.7% gain at $38.27.

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.

…read more

From:: Stock Market News

Economic growth mildly contracted in the first quarter of 2015, but will pick up in the second quarter and second half of the year. For the year as a whole, GDP will expand at 2.1 percent: not a bad number, but not great. The growth rate would also mark the tenth consecutive year of subpar […] …read more

From:: Finance and Economy

U.S. stocks closed higher for a second straight day, as the Federal Reserve kicked off its two-day meeting. Trading volumes were lower than usual, however, while investors seemed to wary of making big bets before the Fed decision. The S&P 500 closed 17.21 points, or 0.9%, higher at 1,995.30 with energy stocks leading the gains. The Dow Jones Industrial Average added 140.10 points, or 0.8%, to 16,739.95. The Nasdaq Composite ended the day up 28.72 points, or 0.6% at 4,889.24.

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.

…read more

From:: Stock Market News