Tag: stock market

Box Inc. shares fell in the extended session Wednesday as the business cloud-storage company’s billings for the quarter fell short of Wall Street estimates. Box shares fell 9.5% to $11.60 after hours. While the company reported an adjusted first-quarter loss of 18 cents a share on revenue of $90.2 million, billings came in at $75.9 million. Analysts surveyed by FactSet had forecast a loss of 24 cents a share on revenue of $88.7 million but billings of $84.1 million. For the second quarter, Box sees an adjusted loss of 19 cents to 20 cents a share on revenue of $94 million to $95 million. Analysts expect a loss of 22 cents a share on revenue of $94.8 million.

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From:: Stock Market News

A number of stock market indexes produced bullish technical patterns by closing above their April highs Wednesday, joining the Russell 2000 Index which accomplished the feat on Tuesday. What makes the higher closing highs bullish is that the Dow Theory, which has remained relevant among market watchers for over a century, defines an uptrend as a pattern of higher peaks and higher lows. And the more broader-market indexes that have entered uptrends, the more confidence investors can have in buying into pullbacks. The Russell 2000 was down as much 0.5% at its intraday low Wednesday, before bouncing sharply to close up 0.7% at a six-month high. Other indexes that made higher highs Wednesday, to go with higher lows, include the Dow Jones U.S. Total Market Index , the Russell 3000 Index , the S&P Small Cap 600 Index and the S&P 400 Mid Cap Index . Meanwhile, the S&P 500 Index is about 0.1% away from a higher high, the Nasdaq Composite Index is about 0.2% away and the Dow Jones Industrial Average is 307 points away.

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Shares of Ocean Power Technologies Inc. blasted off to a near four-fold price increase in very active afternoon trade Wednesday, after the ocean wave power generation company said it entered into its first commercial PB3 PowerBuoy agreement with Japan’s Mitsui Engineering and Shipbuilding. The stock was trading at a 10-month high of $5.86, up 283% from Tuesday’s closing price of $1.53. Volume was 19.9 million shares, compared with the full-day average over the past 30 days of about 12,700 shares, according to FactSet. Ocean Power said the lease agreement is valued at $975,000. “We believe that the deployment under this Agreement could provide access to a potentially huge market in Japan and the surrounding areas, and we’re looking forward to potentially leveraging these events with other interested parties,” said Chief Executive George Kirby. Prior to Wednesday’s surge, the stock had tumbled 27% year to date, while the S&P 500 had gained 2.6%.

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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Oil futures settled narrowly lower on Wednesday, with prices paring most of their earlier losses. Members of Organization of the Petroleum Exporting Countries talked about the potential for a crude production ceiling at a gathering ahead of the group’s official biannual meeting Thursday, according to The Wall Street Journal. July WTI crude settled at $49.01 a barrel on the New York Mercantile Exchange, down 9 cents, or 0.2%.

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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Apple Inc. announced Wednesday that the keynote for WWDC, which is typically filled with software announcements and product updates, will take place at the Bill Graham Civic Auditorium in San Francisco on June 13 at 10 a.m. PT. The company will live stream the event and post videos of all sessions throughout the conference, held from June 13th through June 17th. Unlike the hardware events Apple typically hosts in March and September, WWDC is focused on the latest version of iOS and other software. According to 9to5Mac, among the upgrades will be Mac S X 10.12, with features designed to better support Siri. Shares of Apple fell 0.9% to $98.94 in afternoon trade. They’ve declined by roughly 24% over the last year, versus a 5% improvement for the Dow Jones Industrial Average.

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The campus of UCLA is on lockdown amid multiple reports of a shooting with two victims. The FBI and ATF are responding, according to KCBS. The Los Angeles Police Department tweeted that there’s an active shooter in an academic building identified as Engineering IV.

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 campus of UCLA is on lockdown amid multiple reports of a shooting with two victims. The FBI and ATF are responding, according to KCBS. The Los Angeles Police Department tweeted that there’s an active shooter in engineering building number four.

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 campus of UCLA is on lockdown amid multiple reports of a shooting with two victims. The FBI and ATF are responding, according to KCBS. The Los Angeles Police Department tweeted that there’s an active shooter in engineering building number four.

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. said Wednesday that it has introduced The Mark Cuban Collection, an online shop featuring new brands, including more than 100 items that were on the television program “Shark Tank.” The collection will be housed on Amazon Exclusives, a store that launched last year and sells about 20,000 items that are unique to either Amazon or the new brand’s website. These items are eligible for free two-day Prime delivery. Items available in The Mark Cuban Collection include Nuts ‘n More high-protein peanut butter, The Dirty Dunk, an over-the-door basketball hoop laundry hamper, and Mark Cuban’s book “How to Win at the Sport of Business: If I Can Do It, You Can Do It.” Amazon shares are about flat in Wednesday trading, but up 68% for the past year. The S&P 500 is down 1% for the last 12 months.

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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Shares of Whole Foods Market Inc. ran up 5.1% in morning trade Wednesday, after Credit Suisse turned bullish on the specialty grocery store chain, citing an attractive risk-versus-reward scenario for investors. Analyst Edward Kelly raised his rating to outperform, after being at neutral since July 31, 2013. He raised his stock price target to $40, which is 18% above current levels, from $30. Kelly said Whole Foods has gone on the offensive by cutting prices, accelerating private brand sales through the rollout of 365 stores, cutting costs, increasing marketing and investing in technology. He said he believes same-store sales are near a bottom, and means the downside to the stock price, which has lost about half its value from its October 2013 record close of $65.24, should be limited. “We see a unique opportunity to own this leading specialty food player while still in the early stages of a repositioning that should reinvigorate growth,” Kelly wrote in a note to clients. “A 50% drop in the stock from its peak provides an attractive entry point.”

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