Tag: stock market

Buffalo Wild Wings Inc. shares shot more than 25% higher in late trading Monday after a report that a private-equity firm had bid more than $2.3 billion for the restaurant chain. The Wall Street Journal reported that Roark Capital Group made an offer of more than $150 a share for the company in recent weeks. The stock closed Monday at $117.25, then jumped to $150 in after-hours action following the report. The franchise has been hurt by increasing prices for its core product, chicken wings, and had been targeted by activist investor Marcato Capital Management, but bounced back in the most recent quarter by switching one of its most popular promotions to boneless wings.

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

Amazon.com Inc. opened the first of its device pop-up shops in Whole Foods Market locations on Monday in Chicago and Rochester Hills, MI. On Tuesday, shops will open in Davie, FL and Pasadena, CA, and on Wednesday, stores will open in the Union Station store in Denver. An Amazon spokesperson said the company does not have an end date for the pop ups to share. Amazon began selling Amazon devices like the Echo, Fire TV and Kindle e-readers at more than 100 Whole Foods stores last week. Amazon shares are up more than 50% for the year so far while the S&P 500 index is up 15.5% 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.

…read more

From:: Stock Market News

General Electric record its worst daily decline since April 2009 but that didn’t stop the Dow Jones Industrial Average from booking a gain on Monday. That’s because the the more than 7% drop in shares of GE , the 125-year-old conglomerate, equates to about a 10-point drop in the price-weighted Dow . In other words, a $1 move in anyone of the Dow’s 30 components equates to a 6.89-point swing in the equity benchmark. That price weighting places emphasis on a company’s share price– $19.02 for GE- rather than, say, market value. GE boasts a market value of about $165 billion, after shedding about $10 billion in Monday trade. It also is the worst performer so far this year among the Dow’s components. GE’s downturn on Monday, however, was outweighed by gains in McDonald’s Corp. , Home Depot Inc. and Boeing Co. , which all trade at a share price well over $100. GE’s decline come as the company undergoes a drastic restructuring, including cutting its divided in half, under new CEO John Flannery. Overall, the Dow ended the session up about 17 points, or 0.1%, at 23,439, snapping a two-session skid. The S&P 500 index gained 0.1% at 2,584, while the Nasdaq Composite Index advanced 0.1% at 6,757.

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

Shares of Amazon.com Inc. surged 1.2% in afternoon trade toward its 38th record close of 2017, after the ecommerce giant said it acquired the TV rights to “The Lord of the Rings” for a multi-season series. The stock has how rocketed $166.30, or 17.1%, since Amazon reported third-quarter results, which has increased Amazon’s market capitalization by about $80.1 billion to $548.7 billion. That makes Amazon the S&P 500’s fourth-most valuable company, behind Apple Inc. at $894.8 billion, Google parent Alphabet Inc. at $722.9 billion and Microsoft Corp. at $646.8 billion, and ahead of Facebook Inc. at $520.0 billion.

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

Shale crude-oil production from seven major U.S. oil plays is expected to see a monthly climb of 80,000 barrels a day in December to 6.174 million barrels a day, according to a report from the Energy Information Administration released Monday. The report has forecast increases in shale-oil output every month so far this year. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the largest climb among the big shale plays, with an increase of 58,000 barrels a day. December West Texas Intermediate oil rose 7 cents, or 0.1%, to trade at $56.81 a barrel, a few minutes before the settlement on the New York Mercantile Exchange.

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

MiTio Inc., a medical interpreting and translation training institute, on Monday filed for an initial public offering that will raise $10 million. The company filed a Regulation A form, a provision of the Jumpstart Our Business Act, or JOBS Act, that helps smaller companies tap the public markets. MiTio is offering 5 million shares at $2 a pop. The McDonough, Georgia-based company offers a certificate/diploma program in interpreting and translation. Proceeds of the deal will be used to expand growth, for marketing and to hire sales reps, according to the company’s prospectus. The company is not planning to list the shares on an exchange and its two principal officers will retain majority stakes. MiTio was incorporated in Delaware in May of this year. The company will sell the shares on a “best effort” basis and is not planning to use underwriters.

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

Shares of Madison Square Garden Co. turned lower in afternoon trade Monday, after the live sports and entertainment company (MSG) said Chief Executive David O’Connor was stepping down, effective immediately, after 2 1/2-years in the role. The company did not give an explanation. MSG said Executive Chairman James Dolan has assumed the additional role of interim CEO. Dolan has been executive chairman of MSG since March 2015, and is also executive chairman of MSG Networks Inc. , since July 2009. MSG’s stock was down 0.9% in recent trade; it was about flat just before the CEO transition announcement. MSG’s stock has run up 33% year to date, while MSG Networks shares have tumbled 22% and the S&P 500 has gained 15%.

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

CME Group CEO Terry Duffy said futures contracts pegged to bitcoin on its exchange could be ready as soon as the second week of December. The CME boss made his comments during a Monday interview on CNBC, where he also discussed the inherent volatility in the worlds’ No. 1 digital currency, which has seen its value soar in value in 2017, fueling outsize interest from average investors and Wall Street players alike. Bitcoin has soared more than 500% year to date, compared with a roughly 15% climb for the S&P 500 index , an 18% rally for the Dow Jones Industrial Average , so far in 2017, and a nearly 26% return for the Nasdaq Composite Index over the same period. The CME kicked off a product to reference bitcoin prices a year ago, and late last month announced a plans to launch futures contracts, which could pave the way for investment funds and other investors to make big bets on the vagaries of the popular, and very volatile, cybercurrency.

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

Amazon.com Inc. said Monday that it has acquired the television rights to J.R.R. Tolkien’s “The Lord of the Rings” fantasy stories for a multi-season series. “The Lord of the Rings” have been made into award-winning movies directed by Peter Jackson. The series will delve into new storylines that precede “The Fellowship of the Ring,” and the deal could include spin-offs. Amazon shares are up 1.2% in Monday trading, and up 54% for the past year. The S&P 500 index is up 19.4% for the last 12 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

Although the Dow Jones Industrial Average and S&P 500 are gaining ground, internal market data shows breadth is fairly negative, particularly on the NYSE. The number of declining stock outnumbered advancers by a 1,643-to-1,184 score on the NYSE and by a 1,486-to-1,210 margin on the Nasdaq exchange. The volume of declining stocks was represented 63.2% of total volume on the NYSE, according to FactSet, and 465.9% of the total volume on the Nasdaq. Meanwhile, the Dow was up 14 points and the S&P 500 was up 0.1%. The Nasdaq Composite was also up, but less than 0.1%.

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