Tag: stock market

Kinder Morgan Inc.’s stock shot up 6% in after-hours trade Tuesday, after Warren Buffett’s Berkshire Hathaway Inc. disclosed in a regulatory filing that it owned a new 26.5 million share stake in the oil and gas pipeline company as of Dec. 31. The stock had tumbled 46% during the fourth-quarter, to end 2015 with a 65% loss on the year, as oil prices tumbled. So far this year, the stock closed has gained 4.7%, while the S&P 500 has lost 7.3%. The stock had closed at a record low of $12.01 on Jan. 20, then started rallying after the company had reported a surprise fourth-quarter loss and slashed its dividend. Late Friday, David Tepper’s hedge fund Appaloosa Management disclosed that it owned a new 10.9 million share stake in Kinder Morgan as of Dec. 31; the stock jumped 4.4% during Friday’s regular session.

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.

…read more

From:: Stock Market News

Kinder Morgan Inc.’s stock shot up 6% in after-hours trade Tuesday, after Warren Buffett’s Berkshire Hathaway Inc. disclosed in a regulatory filing that it owned a new 26.5 million share stake in the oil and gas pipeline company as of Dec. 31. The stock had tumbled 46% during the fourth-quarter, to end 2015 with a 65% loss on the year, as oil prices tumbled. So far this year, the stock closed has gained 4.7%, while the S&P 500 has lost 7.3%. The stock had closed at a record low of $12.01 on Jan. 20, then started rallying after the company had reported a surprise fourth-quarter loss and slashed its dividend. Late Friday, David Tepper’s hedge fund Appaloosa Management disclosed that it owned a new 10.9 million share stake in Kinder Morgan as of Dec. 31; the stock jumped 4.4% during Friday’s regular session.

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.

…read more

From:: Stock Market News

Elliott Management, the hedge fund founded by billionaire investor Paul Singer, disclosed in a regulatory filing that it owned 67.1 million shares of aluminum producer Alcoa Inc. as of Dec. 31, after owning just an option to buy 2 million shares at the end of September. Among other new stakes the hedge fund took during the fourth quarter, it now owns 8.94 million shares of CenterPoint Energy Inc. , and an option to buy 1.07 million more shares; it took a new 6.7 million share stake in Hewlett Packard Enterprises Co. ; it now holds just under 1 million shares of LivePerson Inc. and it took a new 5 million share stake in Symantec Corp. . Meanwhile, Elliott sold its entire 3.2 million share stake in Comcast Corp. ; sold off its 1.6 million shares of Juniper Networks Inc. ; and sold its 3.7 million share stake in 21st Century Fox Inc. .

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.

…read more

From:: Stock Market News

WASHINGTON (MarketWatch) – President Barack Obama called on lawmakers “to do their job” and take a vote on his expected nominee to the Supreme Court. “There is more than enough time for the Senate to consider, in a thoughtful way, the record of a nominee that I present, and make a decision,” Obama said. He said he would pick someone for the Supreme Court “with an outstanding legal mind.”

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.

…read more

From:: Stock Market News

Lumber Liquidators Holdings Inc. Chief Executive John Pressley said late Tuesday in a regulatory filing that he has been diagnosed with leukemia and will be entering a 30-day treatment program. Pressley said he will be able to stay actively involved in day-to-day operations. “If there is a change in my health in the future, I will let you know,” Pressley said in a statement to employees and shareholders. Lumber Liquidators shares rose 0.2% to $13.85 after hours.

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.

…read more

From:: Stock Market News

Potbelly Corp. shares rallied 7% Tuesday after the company reported fiscal fourth-quarter earnings that beat Wall Street expectations. Potbelly said it earned $1.2 million, or 5 cents a share, compared with $700,000, or 2 cents a share, in the fiscal fourth quarter of 2014. Adjusted for one-time items, the company earned $2.3 million, or 8 cents a share, from 6 cents a share in the year-ago period, Potbelly said. Revenue rose 12% to $95.1 million. Analysts polled by FactSet had expected the company to earn 6 cents a share on sales of $94.8 million in the quarter. Company-operated comparable-store sales rose 3.7%.

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.

…read more

From:: Stock Market News

U.S. stocks closed higher Tuesday despite a decline in oil prices. The S&P 500 finished 30.66 points, or 1.6%, higher at 1,895.43. The Dow industrials finished 220.72 points, or 1.4%, higher at 16,194.56. The Nasdaq Composite finished 98.44 points, 2.3%, higher at 4,435.96. Analysts said investors regained interest in U.S. stocks after they became oversold, helping to break a strong correlation between stocks and oil prices that became established in recent weeks.

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.

…read more

From:: Stock Market News

Gold prices tumbled on Tuesday as U.S. stocks drew bidders and after a prominent Wall Street firm offered a bearish outlook on the yellow metal. April gold fell $31.20, or 2.5%, to $1,208.20 an ounce. Renewed appetite for U.S. stocks diminished some of the appeal of the precious metal, which has enjoyed one of its best runs over the past two weeks. Adding to gold’s decline was a report from Jeffrey Currie, Goldman Sachs’s global head of commodities, who said in his most recent research note that it is time to bet against the traditional haven as investor fears are overdone and don’t justify the recent rally. Gold has gained almost 14% so far this year, compared with a decline in the S&P 500 index of 7.4%. The point loss for gold, based on a most-active contract, was the worst since March 6, 2015, according to Dow Jones data. On a percentage basis, it was the worst one-day fall in about three 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.

…read more

From:: Stock Market News

Gold prices tumbled on Tuesday as U.S. stocks drew bidders and after a prominent Wall Street firm offered a bearish outlook on the yellow metal. April gold fell $31.20, or 2.5%, to $1,208.20 an ounce. Renewed appetite for U.S. stocks diminished some of the appeal of the precious metal, which has enjoyed one of its best runs over the past two weeks. Adding to gold’s decline was a report from Jeffrey Currie, Goldman Sachs’s global head of commodities, who said in his most recent research note that it is time to bet against the traditional haven as investor fears are overdone and don’t justify the recent rally. Gold has gained almost 14% so far this year, compared with a decline in the S&P 500 index of 7.4%. The price decline loss for gold, based on a most-active contract, was the worst since March 6, 2015, according to Dow Jones data. On a percentage basis, it was the worst one-day fall in about three 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.

…read more

From:: Stock Market News

Ascent Capital Group Inc.’s stock shot up 30% in morning trade Tuesday, putting it on course for the biggest one-day percentage gain in its 7 1/2-year history, in the wake of buyout offer for rival home security company ADT Corp. . Last Thursday, the stock had closed at a record low of $7.99, or just 9% of the value at the Dec. 27, 2013 record close of $88.50. Ascent Capital began trading on Sept. 17, 2008, just two days after the Lehman Bros. bankruptcy. The surge in Ascent’s stock came as rival ADT’s stock soared 50%, after ADT agreed to be acquired by private-equity firm Apollo Global Management for a 56% premium. Ascent’s stock was still down 36% year to date after Tuesday’s jump, while the S&P 500 has lost 8.1%.

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.

…read more

From:: Stock Market News