Tag: stock market

Ford Motor Co., Alphabet’s Inc. Google, Lyft Inc., Uber Technologies and Volvo Cars announced Tuesday that they had formed a coalition to push for federal action on self-driving cars. The first act of the coalition will be working with city groups and businesses to promote self-driving infrastructure. Both ride-hailing companies, Uber and Lyft, as well as automakers Ford , Google , Volvo [STO: VOLV-B] have pushed for self-driving cars. “The best path for this innovation is to have one clear set of federal standards, and the Coalition will work with policymakers to find the right solutions that will facilitate the deployment of self-driving vehicles,” said David Strickland, the coalition’s spokesperson, in the press release.

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From:: Stock Market News

Market breadth data indicates that the stock market is acting a lot more bullish than the major market indexes might suggest. The Dow Jones Industrial Average inched up 0.1% and the S&P 500 ticked up 0.2%, while the Nasdaq Composite slipped 0.1%. But the number of advancing stocks on the NYSE was more than triple the number of decliners–2,234 to 668–while volume of advancing stocks was about 77% of total volume. And despite the Nasdaq Composite’s decline, there are more Nasdaq advancers than decliners, 1,595 to 930.

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Standard & Poor’s on Tuesday downgraded ratings on Exxon Mobil Corp. to AA-plus from AAA, stripping the oil giant of its pristine rating. The outlook is stable, meaning S&P does not expect to move on the rating again in the near term. S&P had placed the rating on CreditWatch negative in February in the face of persistent low oil prices. “We believe Exxon Mobil’s credit measures will be weak for our expectations for a ‘AAA’ rating due, in part, to low commodity prices, high reinvestment requirements, and large dividend payments,” S&P said in a statement. Exxon has more than doubled its debt burden in recent years as it has spent heavily on major projects and made dividend payments and share repurchases “that substantially exceeded internally generated cash flow.” The company has sharply cut its capital spending and is expected to benefit from near-term production gains as some of the projects reach completion. However, maintaining production and replacing reserves will require higher spending, said the agency. Shares were slightly higher in midmorning trade, but are up 12% in the year so far, while the Dow Jones Industrial Average is up about 3%.

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From:: Stock Market News

Apple Inc.’s stock slipped 0.2% in morning trade Tuesday, putting it in danger of suffering a fourth-straight loss, as investors prepare for fiscal second-quarter results after the closing bell. If the stock closes down, it would be the longest losing streak since the five-session stretch ending Nov. 13, 2015; there have been seven three-session losing streaks since then. It would also be the longest-losing streak heading into quarterly results since the stock fell for five-straight sessions ahead of second-quarter results in 2012. Back then, the results led to an 8.9% surge the next session, but then the stock fell the next four sessions, and closed back below the pre-earnings closing price by May 14.

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Honey Nut Cheerios, a General Mills Inc. cereal brand, said Tuesday that it will commit 3,300 acres of land used for oat farming to pollinator habitats by 2020. The effort is designed to save bee colonies, which have experienced widespread die-offs in recent years. Honey Nut Cheerios said the pollinator habitats will be spread across 60,000 acres of land, and will include food sources and homes for North American bees. The acreage will be on oat farms used to supply Honey Nut Cheerios. Earlier this month, Scotts Miracle Gro Co. said it had expanded its garden product offerings that don’t include neonicotinoids. There are concerns that these chemicals are harmful to bees. General Mills shares are up 0.2% in Tuesday trading, and up 8.6% for the past year. The S&P 500 is down 1% for the last 12 months.

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From:: Stock Market News

Honey Nut Cheerios, a General Mills Inc. cereal brand, said Tuesday that it will commit 3,300 acres of land used for oat farming to pollinator habitats by 2020. The effort is designed to save bee colonies, which have experienced widespread die-offs in recent years. Honey Nut Cheerios said the pollinator habitats will be spread across 60,000 acres of land, and will include food sources and homes for North American bees. The acreage will be on oat farms used to supply Honey Nut Cheerios. Earlier this month, Scotts Miracle Gro Co. said it had expanded its garden product offerings that don’t include neonicotinoids. There are concerns that these chemicals are harmful to bees. General Mills shares are up 0.2% in Tuesday trading, and up 8.6% for the past year. The S&P 500 is down 1% for the last 12 months.

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From:: Stock Market News

Honey Nut Cheerios, a General Mills Inc. cereal brand, said Tuesday that it will commit 3,300 acres of land used for oat farming to pollinator habitats by 2020. The effort is designed to save bee colonies, which have experienced widespread die-offs in recent years. Honey Nut Cheerios said the pollinator habitats will be spread across 60,000 acres of land, and will include food sources and homes for North American bees. The acreage will be on oat farms used to supply Honey Nut Cheerios. Earlier this month, Scotts Miracle Gro Co. said it had expanded its garden product offerings that don’t include neonicotinoids. There are concerns that these chemicals are harmful to bees. General Mills shares are up 0.2% in Tuesday trading, and up 8.6% for the past year. The S&P 500 is down 1% for the last 12 months.

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From:: Stock Market News

U.S. stocks on Tuesday opened modestly higher, putting the market on track to rebound somewhat after dropping in two of the past three sessions. Relatively strong oil prices and earnings helped lead early gains. Procter & Gamble Co. , 3M Co. and DuPont traded higher after their earnings reports, shares of Whirlpool Corp. and Eli Lilly & Co. are declining. The Dow Jones Industrial Average gained 44 points, or 0.2%, to 18,012, the S&P 500 index climbed 4 points, or 0.2%, at 2,092. Meanwhile, the Nasdaq Composite added 6 points, or 0.1%, to 4,902.

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From:: Stock Market News

U.S. stocks on Tuesday opened modestly higher, putting the market on track to rebound somewhat after dropping in two of the past three sessions. Relatively strong oil prices and earnings helped lead early gains. Procter & Gamble Co. , 3M Co. and DuPont traded higher after their earnings reports, shares of Whirlpool Corp. and Eli Lilly & Co. are declining. The Dow Jones Industrial Average gained 44 points, or 0.2%, to 18,012, the S&P 500 index climbed 4 points, or 0.2%, at 2,092. Meanwhile, the Nasdaq Composite added 6 points, or 0.1%, to 4,902.

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The 96 soccer fans who died in the 1989 Hillsborough stadium disaster were unlawfully killed as a result of errors by police, an inquest jury found by a 7-2 majority on Tuesday. The deaths at the FA Cup semifinal between Liverpool and Nottingham came after authorities let in crowds of people by opening extra gates, causing a crush in a spectators’ pen. The police official in charge of match security, Chief Superintendent David Duckenfield, was found to have behaved with “gross negligence” in his duties, the BBC reported. The verdict overturns the findings of accidental death at the original inquests into the 96 deaths, after a 27-year campaign by victims’ families. Liverpool football fans, who were initially accused of causing the crush by their behavior, were exonerated by the new jury. The court found that failures by police, defects in the stadium, a delay in the emergency response by ambulances and an issue in safety certification for the Sheffield stadium contributed to the disaster.

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From:: Stock Market News