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Air Lease Corp. said late Friday that its president John Plueger will take on the additional posotion of chief executive officer effective July 1. Current CEO and Chairman Steven Udvar-Házy will remain as executive chairman. Shares of the aircraft leasing company were unchanged after hours at $26.89.
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
Air Lease Corp. said late Friday that its president John Plueger will take on the additional posotion of chief executive officer effective July 1. Current CEO and Chairman Steven Udvar-Házy will remain as executive chairman. Shares of the aircraft leasing company were unchanged after hours at $26.89.
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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FedEx Corp. said late Friday the U.S. Justice Department has dismissed criminal charges against the logistics company stemming from its dealings with internet pharmacies. “The case should never have been brought. The government should take a very hard look at how they made the tremendously poor decision to file these charges. Many companies would not have had the courage or the resources to defend themselves against false charges,” FedEx said in a statement. The Justice Department alleged FedEx delivered packages from the online pharmacies even after authorities cracked down on the online businesses and after knowing the drugs were illegally prescribed. The company argued it couldn’t police its millions of packages for those that might contain illegal items. Shares of FedEx were flat in late trading after ending the regular trading session up 0.2%.
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From:: Stock Market News
U.S. stocks finished lower Friday, With the S&P 500 and Nasdaq Composite logging their largest weekly drops since late April, as the looming “Brexit” vote in the U.K. and lingering worries about the Federal Reserve’s reluctance to raise interest rates weighed on shares. The S&P 500 shed 6.78 points, or 0.3%, to 2,071.21, with health-care and technology shares leading the index lower. The Dow industrials slid 58.96 points, or 0.3%, to 17,674.14. Merck & Co. and Apple Inc. were the two biggest decliners on the blue-chip gauge. For the Dow, it was the largest drop since mid-May. The Nasdaq Composite shed 44.58 points, or 0.9%, to 4,800.34.
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Oil futures climbed on Friday, buoyed by weakness in the U.S. dollar as some concerns over the potential for the U.K. to exit the European Union eased. Prices for the week, however, declined on signs of a possible recovery in crude production. Baker Hughes on Friday reported a third-straight weekly climb in the U.S. oil-rig count. July WTI crude settled at $47.98 a barrel on the New York Mercantile Exchange, up $1.77, or 3.8%, for the session. It lost 2.2% for the week.
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
Oil futures climbed on Friday, buoyed by weakness in the U.S. dollar as some concerns over the potential for the U.K. to exit the European Union eased. Prices for the week, however, declined on signs of a possible recovery in crude production. Baker Hughes on Friday reported a third-straight weekly climb in the U.S. oil-rig count. July WTI crude settled at $47.98 a barrel on the New York Mercantile Exchange, up $1.77, or 3.8%, for the session. It lost 2.2% for the week.
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From:: Stock Market News
Gold futures settled lower on Friday, pulling back after gains over the past seven sessions in a row. But prices still tallied a climb of about 1.5% for the week ahead of next week’s U.K. referendum on whether to leave or stay in the European Union. August gold settled at $1,294.80 an ounce, down $3.60, or 0.3%, for the session.
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From:: Stock Market News
Oil futures pared their gains after Baker Hughes showed that the weekly number of active U.S. rigs drilling for crude rose for a third week in a row, by 9 to 337 as of Friday. The total U.S. rig count climbed by 10 to 424. July crude was at $47.52 a barrel on the New York Mercantile Exchange, up $1.31, or 2.8%, from Thursday’s settlement. It was trading at $47.57 before the data.
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From:: Stock Market News
Shares of Teekay Offshore Partners L.P. rocketed 20% in active midday trade, making them the second-biggest gainer on the NYSE, after the marine transportation and oil production company announced a private placement of $200 million worth of equity securities. Volume reached 2.4 million shares within two hours of trade, or close to triple the full-day average. As part of the private placement, Teekay said it issued $100 million worth of perpetual preferred units and $100 million worth of common stock units to a group of investors. The company plans to use the proceeds from the issuances, which are expected to close on or before the end of June, for general purposes such as funding its newbuilding installments and capital conversion projects. The stock was still down 16% year to date, while the S&P 500 has gained 1%.
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From:: Stock Market News
The major market indexes may be declining in morning trade Friday, but most stocks are trading higher, reversing the divergence witnessed in the previous session. The number of advancing stocks exceeded the number of decliners by an 1,817-to-942 score on the NYSE, and by a 1,225-to-1,036 margin on the Nasdaq. Advancing volume on the NYSE was about 66% of the total, while Nasdaq advancing volume was 49%. Meanwhile, the Dow Jones Industrial Average fell 17 points, with 16 of 30 components losing ground. The S&P 500 Index eased 0.2% and the Nasdaq Composite Index shed 0.5%. On Thursday, the indexes bounced sharply off early lows to close higher, but market breadth was negative.
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From:: Stock Market News