Tag: stock market

North Korea has fired six short-range projectiles into the sea off its east coast, South Korean officials said Thursday, according to media reports. The projectiles were either rockets or guided missiles, and were launched at around 10 a.m. local time from Wonsan on the east coast, the BBC reported. The launches came just a few hours after the United Nations imposed unprecedentedly harsh new sanctions on Pyongyang. The UN move, led by the U.S. and China, was prompted by North Korea’s recent nuclear test and missile launch in defiance of existing sanctions.

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From:: Stock Market News

Shares of SunEdison Inc. skidded late Wednesday after the solar developer said it has suspended quarterly dividends on its preferred shares. The payments will accrue in arrears and the board will reassess its dividend policy going forward, SunEdison said in a statement. The company had announced plans to restructure its business last month amid an ongoing weakness in the energy market. Shares plunged 12% in after-hours trading after jumping 19% in the regular session.

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Sina Corp. late Wednesday reported its fourth-quarter earnings fell to $14.6 million, or 21 cents a share, from $59.8 million, or 90 cents a share, a year earlier. On an adjusted basis, the Chinese online company would have earned 35 cents a share. Revenue rose 21% to $256.2 million. Analysts surveyed by FactSet had forecast earnings of 35 cents a share on revenue $244 million. For 2016, Sina projected revenue in a range of $850 million to $950 million, based on the assumption that the yuan will depreciate against the dollar by 8.5%. The company also plans to buy back up to $500 million of its shares by the end of June 2017. Shares of Sina fell 4.9% in after-hours trading.

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Hess Corp. said late Wednesday that Chairman Mark Williams has retired effective immediately due to health reasons. To succeed Williams, the board chose James Quigley, former chief executive of Deloitte and current board member, as chairman. Shares of Hess rose 0.2% to $47 in after-hours activity.

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From:: Stock Market News

Hess Corp. said late Wednesday that Chairman Mark Williams has retired effective immediately due to health reasons. To succeed Williams, the board chose James Quigley, former chief executive of Deloitte and current board member, as chairman. Shares of Hess rose 0.2% to $47 in after-hours activity.

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

Hess Corp. said late Wednesday that Chairman Mark Williams has retired effective immediately due to health reasons. To succeed Williams, the board chose James Quigley, former chief executive of Deloitte and current board member, as chairman. Shares of Hess rose 0.2% to $47 in after-hours activity.

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Oil futures finished higher on Wednesday, rising for a third session in a row. After falling in the immediate wake of weekly U.S. government data showing a 10.4 million-barrel climb in crude inventories, prices turned higher, buoyed by the fall in domestic output and expectations for further production declines. “The fundamentals remain poor, but sentiment is a bit more focused upon the future, for now,” said Richard Hastings, macro strategist at Seaport Global Securities. April West Texas Intermediate crude rose 26 cents, or 0.8%, to settle at $34.66 a barrel on the New York Mercantile Exchange, holding ground at the highest levels since early January.

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Ben Carson, the retired neurosurgeon running for the Republican presidential nomination, will skip Thursday’s scheduled GOP debate, he said Wednesday. Carson has not won any states in this year’s primary season and continues to poll low compared to his rivals. He said in a statement he does not see a political path forward after Super Tuesday. In his statement he does not say he is suspending his campaign.

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Gold futures climbed Wednesday to settle at their highest level in nearly three weeks. The U.S. stock market struggled for direction despite upbeat U.S. data on jobs in the private sector, helping to support prices for the metal. The market awaited cues on gold’s next move in the aftermath of monthly U.S. jobs data due out Friday. April gold rose $11, or 0.9%, to settle at $1,241.80 an ounce. That marked the highest settlement since Feb. 11, according to FactSet data.

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Don’t read a market by its cover, as Wednesday’s decline in the major market index’s belied positive market internal reading. The Dow Jones Industrial Average and the S&P 500 Index were both down 0.3%, while the Nasdaq Composite Index was shedding 0.4%, in midday trade. But the number of advancing stocks outnumbered declining stocks by about a 15 to 14 score on the NYSE and a 13 to 11 margin on the Nasdaq exchange. Separately, the NYSE’s Arms Index, which is volume-weighted measure of market breadth, dipped below 0.5, which usually only occurs during broad and sharp market rallies. The last two times the NYSE’s Arms Index closed below 0.50 was Feb. 22, when the S&P 500 shot up 1.4%, and Dec. 23, when the S&P 500 climbed 1.2%.

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From:: Stock Market News