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Shares of Applied Materials Inc. surged Wednesday on positive momentum in the chip sector and the chip materials company’s long-term forecast and share buyback program. Applied Materials shares rallied 6.9% to $49.09, helped in part by Micron Technology Inc.’s strong forecast for memory chips, and are up 52% year to date. Applied Materials forecast adjusted earnings of $5.08 a share in fiscal 2020 as Internet-of-things applications, Big Data and artificial intelligence drive computing demand. For the current year, analysts surveyed by FactSet expect fiscal earnings of $3.21 a share. The company also announced a new $3 billion share repurchase program in addition to the $995 million that remains on an earlier program.

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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Amazon.com Inc. has introduced a number of new Echo devices, including a less expensive version of the Echo, priced at about $100 versus the present price tag of nearly $180. The latest version of the Alexa-enabled device is smaller, provides improved sound, and can better pick up the users voice even in noisy situations. The Echo Plus, priced at $150, has a built-in smart-home hub that can find compatible lights, switches and more. It also has improved audio quality. Alexa also has a number of new features, including Alexa Routines that can perform a few functions with one command, such as turning off the lights and locking the door when the user says, “Goodnight.” Amazon has also launched a brand new Echo, the Echo Spot, that is equipped with a circular screen, many of the qualities of the other Echo devices, such as improved audio and smart home capabilities, and priced at about $130. The e-commerce giant has also unveiled a new Fire TV device with 4K Ultra HD, High Dynamic Range. Priced at about $70, the device will start shipping on Oct. 25. Finally, Amazon and BMW will make an updated version of the Alexa skill in the BMW and Mini vehicles starting mid-2018. Users will now be able to get direction, play music, control their smart home and have access to third-party developers like Starbucks Corp. and NPR. Amazon shares are up 1.6% in Wednesday trading and up 27.1% for the year so far. The S&P 500 index is up 12.2% for 2017 so far.

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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Delta Air Lines Inc. Chief Executive Edward Bastian said Wednesday in an interview with CNBC that the 220% tariff slapped on a new Bombardier Inc. jetliner to U.S. airlines was “absurd.” The U.S. International Trade Commission’s ruling late Tuesday that it would add a tariff comes after Boeing Co. filed a complaint after Bombardier sold CSeries jets to Delta last year; a final decision on the ruling is expected next year. Delta said the Boeing didn’t produce a product that was comparable to Bombardier’s C-series, and that Boeing had offered Delta used jets as an alternative, the CNBC report said. “We think it’s absurd,” Bastian told CNBC. Delta’s stock dropped 1.8% in afternoon trade, while Boeing shares gained 0.7% and the S&P 500 tacked on 0.5%. The Canada-listed shares of Bombardier tumbled 8.4%.

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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The Russell 2000 rallied on Tuesday, hitting an intraday record in what was on track to be its biggest one-day percentage gain since June. The index of small companies gained 1.5% to 1,479.32 and was set for its fourth straight daily rise, as well as its best day since June 28. The index was at an all-time high, bringing its year-to-date advance to 9%. While small-caps had been struggling, dropping between mid-July and mid-August, they have since staged a powerful rebound, gaining nearly 10% since that intraday low. The move eclipsed the gains in other major indexes; the S&P 500 rose 0.3% on Tuesday while the Dow was up 0.1%. The Nasdaq Composite Index added 1%. The iShares Russell 2000 ETF , an exchange-traded fund that tracks the index, has seen inflows of $1.3 billion thus far this year, making it one of the most popular U.S.-listed funds of 2017.

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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President Donald Trump said Wednesday he’s “not happy” with Health and Human Services Secretary Tom Price, whose use of private jets for official travel has drawn scrutiny. Asked by a reporter if he could fire Price, Trump replied “we’ll see.” Trump said “I’m not happy about it and I let him know it.”

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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