Tag: stock market

A 39-year-old engineering professor at the University of California, Los Angeles, was the victim of a murder-suicide shooting on campus Wednesday, according to media reports. William S. Klug, an associate professor of mechanical and aerospace engineering, was identified as the man who was shot, according to the Los Angeles Times newspaper, citing several sources. Various news reports have said the shooter was a still-unnamed male student who was upset by receiving poor grades. The campus was locked down for several hours after the Los Angeles Police Department responded to reports of a shooting around 10 a.m. local time.

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From:: Stock Market News

The global oil market is set to become more balanced in the second half of the year, as production from non-OPEC countries is falling fast, the Organization of the Petroleum Exporting Countries said on Thursday. In the opening address for its bi-annual meeting in Vienna, Qatar’s oil minister Mohammed Bin Saleh Al-Sada said 2016 supply forecasts for non-OPEC output has been revised down and the cartel now anticipates a contraction of 740,000 barrels per day this year. That is more than 2 million barrels a day lower than the growth seen in 2015, Al-Sada said. “This trend stems mainly from reduced cashflows, investment cutbacks and the deferral or cancellation of projects,” he said. The oil official also raised concern about a 20% drop in global exploration and production spending seen last year, with a further 15% drop forecast for 2016. “This is a major concern for an industry that generally sees investments increasing year on year to sustain production. It is important to keep in mind the link between the marginal cost of production, the oil price and investments,” he said. OPEC is meeting in Vienna on Thursday to discuss the oil outlook for 2016. A press conference is expected around 4 p.m. local time, or 10 a.m. Eastern Time. Oil prices were higher as the cartel kicked off the meeting, with Brent up 0.3% at $49.89 a barrel and crude oil 0.4% higher at $49.18.

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From:: Stock Market News

Iran is aiming for a significant increase in oil production to reach an output of 4.8 million barrels a day within five years, according to Dow Jones Newswires. In April, the Middle Eastern country produced 3.38 million barrels a day, an increase of 150,000 barrels over March, according to Platts. Speaking to journalists ahead of the closely watched OPEC meeting in Vienna, the country’s oil minister Bijan Namdar Zangeneh hinted Iran won’t agree to a deal to cap production, seen as a measure to boost oil prices, the report said. Ahead of Thursday’s meeting, media reports suggested the cartel would agree to a new output ceiling after it scrapped its 30-million-barrel-day cap at its December meeting. However, without the consent of Iran, an production deal looks unlikely. The Venezuelan oil minister stressed that Iran must be included in any OPEC production agreement, according to DJ. Crude oil was up 0.3% at $49.16 a barrel, while Brent rose 0.4% to $49.90.

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From:: Stock Market News

Iran is aiming for a significant increase in oil production to reach an output of 4.8 million barrels a day within five years, according to Dow Jones Newswires. In April, the Middle Eastern country produced 3.38 million barrels a day, an increase of 150,000 barrels over March, according to Platts. Speaking to journalists ahead of the closely watched OPEC meeting in Vienna, the country’s oil minister Bijan Namdar Zangeneh hinted Iran won’t agree to a deal to cap production, seen as a measure to boost oil prices, the report said. Ahead of Thursday’s meeting, media reports suggested the cartel would agree to a new output ceiling after it scrapped its 30-million-barrel-day cap at its December meeting. However, without the consent of Iran, an production deal looks unlikely. The Venezuelan oil minister stressed that Iran must be included in any OPEC production agreement, according to DJ. Crude oil was up 0.3% at $49.16 a barrel, while Brent rose 0.4% to $49.90.

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From:: Stock Market News

Houston-based Moleculin Biotech Inc. closed its initial public offering Wednesday, raising more than $9.2 million on 1.5 million shares priced at $6 each, the upper end of its pricing range. The company had hoped to raise as much as $12 million, according to its S-1 filing in March. Moleculin will start public trading Thursday on the Nasdaq under the symbol “MBRX.” The company says it intends to use the IPO proceeds for further clinical trials of its leukemia-treatment drug, Annamycin. Bonwick Capital Partners and Network 1 Financial Securities underwrote the offering.

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From:: Stock Market News

Oil futures fell in electronic trading Wednesday after the American Petroleum Institute reported that U.S. crude supplies rose by 2.4 million barrels for the week ended May 27, according to sources who reviewed the report. Analysts polled by S&P Global Platts forecast a decline of 3.1 million barrels for crude inventories. The closely watched Energy Information Administration report will be released Thursday. July crude was at $48.91 a barrel in electronic trading, down from the contract’s settlement of $49.01 on the New York Mercantile Exchange.

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From:: Stock Market News

Uber Technologies Inc., the ride-hailing company, has received a $3.5 billion investment from Saudi Arabia’s Public Investment Fund, according to The New York Times. The investment is part of an existing funding round and keeps the company’s valuation at $62.5 billion, according to the Times. Uber did not immediately respond to a request for comment.

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From:: Stock Market News

Uber Technologies Inc., the ride-hailing company, has received a $3.5 billion investment from Saudi Arabia’s Public Investment Fund, according to The New York Times. The investment is part of an existing funding round and keeps the company’s valuation at $62.5 billion, according to the Times. Uber did not immediately respond to a request for comment.

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

Uber Technologies Inc., the ride-hailing company, has received a $3.5 billion investment from Saudi Arabia’s Public Investment Fund, according to The New York Times. The investment is part of an existing funding round and keeps the company’s valuation at $62.5 billion, according to the Times. Uber did not immediately respond to a request for comment.

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

Uber Technologies Inc., the ride-hailing company, has received a $3.5 billion investment from Saudi Arabia’s Public Investment Fund, according to The New York Times. The investment is part of an existing funding round and keeps the company’s valuation at $62.5 billion, according to the Times. Uber did not immediately respond to a request for comment.

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