Foreclosures | Mortgages | Financing
The House Intelligence Committee has released a Republican memo that alleges the Federal Bureau of Investigation abused surveillance power during the Russia investigation. The release came shortly after President Donald Trump decided to allow its publication. Read the full text of the memo here.
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
The House Intelligence Committee has released a Republican memo that alleges the Federal Bureau of Investigation abused surveillance power during the Russia investigation. The release came shortly after President Donald Trump decided to allow its publication. Read the full text of the memo here.
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
Despite an ugly weekly decline for the Dow Jones Industrial Average, the blue-chip gauge has risen so far and so fast that it would require a roughly 900-point drop to push it below its 50-day moving average. The Dow presently sits at around 25,898, down about 278 points, or 1.1%, with a weekly decline of about 700 points or about 2.5%, representing its worst drop over such a period since Jan 8, 2016, according to FactSet data. However, the equity gauge would need to slump to 25,023.91, a decline of 886 points, of about 3.4%, from its current level. In order to slump under its longer-term, 200-day moving average it would need to plunge to 22,704, or a whopping 3,200 points, a drop of about 12%. Similarly, the S&P 500 index , which also is having a challenging week, after a stellar January, would require an 82.51 slump, or 3%, to hit its 50-day MA at 2,715, with it would need to tumble 265 points, or 9.5%, to reach its 200-day MA at 2,532. Market technicians look at short-term and long-term moving averages partly to gauge momentum in an asset.
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
Shares of Viavi Solutions Inc. soared 17% as William Blair analyst Dmitry Netis praised the company’s decision to acquire Cobham’s test and measurement business. “We view this transaction positively, given potential revenue and cost synergies and opportunity for EPS expansion,” he wrote. “We are particularly pleased with the added wireless test products (60%-70% of acquired assets’ revenue) and pan-European/Asia customer exposure ahead of 5G infrastructure buildouts.” Viavi also reported better than expected revenue and earnings for its December quarter on Thursday afternoon. Separately, Stifel analyst Patrick Newton upgraded Viavi shares to buy, citing “numerous levers to drive meaningful EPS growth.” He pointed to an inflection in the network enablement business and commented that the acquisition seemed like a “good use of cash.” Viavi shares are up 9.8% over the past 12 months, while the S&P 500 is up 23%.
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
Although stock market internals are showing broad-based selling, the Arms Indexes for both the NYSE and and Nasdaq suggest there is still no panic selling, and instead imply that buyers of rising stocks may be acting more aggressively than sellers of decliners. The Arms Index is a volume-weighted breadth measure, that is used by many to gauge the intensity of a broad market decline. The index tends to rise above 1.000 when the stock market declines, as the sellers of declining stocks tend to be more aggressive than buyers of advancing stocks. A rise to above 2.000 is viewed by many as a sign of panic selling. Although the Dow Jones Industrial Average is down 259 points, or 1%, and the S&P 500 is down 0.8%, the NYSE Arms Index has declined to 0.753. The number of declining stocks outnumbered advancers by a 2,497-to-374 margin on the NYSE, or about a 6.7-to-1 ratio, while declining volume leads advancing volume by 192.7 million shares to 37.7 million shares, or about a 5.1-to-1 ratio. The Nasdaq Composite was down 0.7%, but the Nasdaq Arms Index was down to 0.762.
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
The Dow Jones Industrial Average on Friday was set to shed about 740 points for the week, marking its worst weekly slide since Jan. 8, 2016, when it shed 1,078 points, according to FactSet data. The Dow was down 312 points, or 1.1%, on Friday as Treasury yields gathered steam following an upbeat jobs report. On a percentage basis, the weekly decline would also be the worst for the blue-chip gauge since the 6.2% weekly decline also since early January of 2016. Rising yields can undercut appetite for assets perceived as risky like stocks. The S&P 500 index , meanwhile, was down 1.1%, at 2,792, while the Nasdaq Composite Index gave up 1.1% at 7,301.
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
Blue Apron Holdings Inc. shares gained 0.7% in Friday morning trading after Gabelli & Company analyst Matthew Trusz initiated coverage of the company with a buy rating. He sees the company as “turning the corner on well-publicized operational issues,” namely its transition to a new facility in Linden, N.J. Trusz points to a couple indicators that suggest Blue Apron may be rebounding, including search trends. He figures that the meal-kit firm has an $8 billion total addressable market currently, representing 8.25 million households in the U.S. That could grow as more people become comfortable ordering groceries online, he wrote. Trusz also sees “good reasons” for Walmart Inc. to either partner with Blue Apron or buy it outright. He has a private market value of $6 on shares. Blue Apron shares have tumbled 79% from their June IPO price, while the S&P 500 has gained 17%.
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
Ralph Lauren Corp.’s price target was raised to $105 from $85 at Wells Fargo despite what analysts call “disappointing” third-quarter results. Analysts rate Ralph Lauren shares market perform. Expectations had been rising through the quarter, but sales were in-line with guidance and earnings were driven by the tax overhaul and currency exchange, analysts wrote in a note. Moreover, the fourth-quarter outlook is more “muted” than expected. Both the good news and bad news is that the quarter showed more of the same, as the company’s turnaround plan is creating fewer promotions and supply chain efficiency that helps margins, but investors want more. “[I]nvestors’ expectations continue to move higher in anticipation of a positive inflection in North America, and we believe there’s still improvements that need to be made before we see positive growth there,” wrote analysts led by Ike Boruchow. Wells Fargo says distribution pullback will continue to hurt sales, brand popularity needs to improve, and pricing will continue to have an impact as it works its way to target levels. Ralph Lauren shares are up 22.5% for the last three months, outpacing the S&P 500 index , which is up 8.6% for the period.
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
Stocks opened lower Friday after strong January jobs data, including a pickup in wage growth, stoked worries over a potential inflation pickup that could spur the Federal Reserve to quicken the pace of rate increases. The S&P 500 declined 0.6% to 2,805.45, while the Dow industrials were off 198.98 points, or 0.8%, at 25,987.39. The Nasdaq Composite declined 0.5% to 7,348.12.
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
Shares of VMware Inc. climbed 1.7% in premarket trade, after the cloud infrastructure company’s largest shareholder, Dell Technologies Inc., disclosed that it was evaluating a business combination with VMware. Dell said it was evaluation other business opportunities, including an initial public offering of common stock and “maintaining the status quo.” In response to Dell’s disclosure in a filing with the Securities and Exchange Commission, VMware Chief Executive Pat Gelsinger said, “We are not in a position to speculate on the outcome of Dell’s evaluation of potential business opportunities. Dell has been a tremendous partner since it became our majority owner and we’ve accelerated our growth.” VMware’s stock has gained 5.7% over the past three months through Thursday, while the S&P 500 has climbed 9.4%.
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