Tag: stock market

Alaska Air Group Inc. unit Horizon Air has agreed to buy 30 three-class Embraer E175 jets, in a deal valued at $2.8 billion. The order includes 33 options and is the airline’s biggest since it was founded in 1981, according to a statement. The jets will expand the Portland-based carrier’s fleet of Bombardier Q400 turobprops, it said. Horizon plans to start using the jets exclusively for Alaska Airlines under a capacity purchase agreement that will launch in Spring 2017. The jets “will allow the carrier to fly ‘long, thin routes’ — destinations that are too distant for a turboprop, but currently don’t have enough customer demand to fill a mainline jet,” said the statement. Alaska Air last week won the bidding for Virgin America over rival Jetblue Airways Corp. in a deal with an equity value of $2.6 billion. Shares were not yet active in premarket trade, but are down 2.5% in the year so far, while the S&P 500 is down 0.1%.

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Duke Energy announced Dhiaa Jamil as executive vice president and chief operating officer Tuesday. Jamil currently works at the company on sectors including nuclear, fossil and hydro fuels and operations. The company also announced Melissa Anderson as executive vice president of administration and chief human resources officer.

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Singapore-based Shanda Group has agreed with Trian Fund Management to purchase a 9.9% stake in asset manager Legg Mason Inc. , the companies said in a statement Tuesday. Legg Mason shares rose 1.7% in premarket trade, but are down 20% in the year so far, while the S&P 500 is down 0.1%.

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Market data firm International Data Corp. confirmed late Monday that Dell overtook HP Inc. as the market-share leader in the dwindling U.S. PC market, while Lenovo managed to hold onto its lead worldwide. IDC said that worldwide PC shipments for the first quarter declined 11.5% to 60.6 million units from a year ago, and by 5.8% to 13.6 million units in the U.S. Worldwide, Lenovo held onto the lead with 20.1% market share, followed by HP (19.2%) and Dell (14.9%). In the U.S., Dell overtook HP as the market-share leader, 25.6% vs 25.3%, while Lenovo held 14.1% of market share. Earlier, Gartner had reported similar figures with Dell overtaking HP in the U.S.

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Marathon Oil Corp. said Monday it plans to sell $950 million worth of assets, vowing to focus on lower-risk U.S. resources to protect its balance sheet amid falling oil prices. The company has sold a total of $1.3 billion in assets since August, going beyond its target of selling $750 million to $1 billion in assets. The largest transaction announced Monday is the selling of all of its Wyoming exploration and transportation and storage assets for $870 million, Marathon said. Shares of Marathon rose 2% in late trading Monday after ending the regular session down 0.9%.

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Dell surpassed HP Inc. to become the No. 1 vendor for PCs in the U.S. market during the first quarter, but the industry continues to bleed sales, according to new data from Gartner. Worldwide PC shipments fell 9.6% year-over-year during the first quarter, marking the sixth straight quarter of PC shipment declines, and the first time since 2007 that shipment volume fell below 65 million units. Lenovo maintained the No. 1 position in worldwide PC shipments, while Apple Inc. was No. 5, behind Asus.

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Oil production from members of the Organization of the Petroleum Exporting Countries rose by 40,000 barrels a day in March from a month earlier, to 32.38 million barrels a day, according to a Platts survey released late Monday. Platts attributed the increase to higher output from Iran, which climbed by 110,000 barrels a day to 3.23 million barrels a day. Iraqi output also rose by 30,000 barrels a day to 4.16 million barrels a day, according to the survey of OPEC and oil industry officials and analysts conducted by Platts.

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U.S. stocks finished lower, slipping into negative territory in the final hour of trading as concerns about lackluster quarterly earnings outweighed a rally in crude prices. Stock investors are looking ahead to Alcoa Inc.’s quarterly results, which are set to be released at the end of regular trading. The S&P 500 closed off 5.61 points, or 0.3%, at 2,041.99, the Dow Jones Industrial Average ended down 20.55 points, or 0.1%, at 17,556.41, while the tech-heavy Nasdaq Composite index ended 17.29 points, or 0.4%, lower at 4,833.40.

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Oil futures settled at their highest level in almost three weeks on Monday, buoyed by expectations for output declines and signs of stronger demand for crude. Prices also got a boost after a U.S. government report showed that domestic shale-oil production was forecast to fall by 114,000 barrels a day next month. May WTI crude rose 64 cents, or 1.6%, to settle at $40.36 a barrel on the New York Mercantile Exchange. That was the highest settlement since March 22.

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Oil production from seven major U.S. shale plays is expected to fall by 114,000 barrels a day in May from April, according to a monthly report from the Energy Information Administration released Monday. Oil output at the Eagle Ford shale play in south Texas is forecast to see the biggest decline, down 62,000 barrels a day in May. The Bakken shale play, which stretches from Canada into North Dakota and Montana, is expected to see output fall by 31,000 barrels a day, the report said. May oil continued to trade higher, up 56 cents, or 1.4%, to $40.28 a barrel on the New York Mercantile Exchange.

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