Tag: stock market

Shares of Qualcomm Inc. rallied Friday following a report that Broadcom Ltd. was interested in acquiring the chipmaker. Qualcomm shares jumped 14% to $62.59 in recent activity, its biggest one-day surge since October 2008, while shares of Broadcom rose 5% to trade at $272.51. The share moves followed a report from Bloomberg that Broadcom was exploring what would be the biggest chipmaker acquisition ever, according to people familiar with the matter. Broadcom made big news Thursday after announcing that it was moving its headquarters back to the U.S. from Singapore.

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Gold prices declined Friday to mark their lowest settlement since early August, pressured by strength in the U.S. dollar, which put pressure on the dollar-denominated yellow metal. The ICE U.S. Dollar Index was poised to log a seventh weekly climb in eight weeks, up Friday as the ISM nonmanufacturing index for October rose to the highest level since Aug. 2005. December gold fell $8.90, or 0.7%, to settle at $1,269.20 an ounce, the lowest since Aug. 8, according to FactSet data. It lost about 0.2% for the week.

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Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 8 to 729 this week. The figure had climbed by just 1 rig last week after three-consecutive weeks of declines. The total active U.S. rig count, which includes oil and natural-gas rigs, also declined by 11 to 898, according to Baker Hughes. December West Texas Intermediate crude rose 46 cents, or 0.8%, from Thursday, to $55 a barrel. It traded at $54.96 shortly before the rig data.

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Shares of Aquantia Corp. edged higher in their public debut Friday, as the opening price of $9.31 was 3.4% above the initial public offering price of $9. The maker of high-speed communications integrated circuits for Ethernet connections’ IPO priced below the previously expected per-share range of $10 to $12. The stock was recently up 2.8% at $9.25, and has traded in a range of $9.05 to $9.40 since the open. The company raised $59.6 million in the IPO, before options granted to underwriters. The bookrunners for the IPO were Morgan Stanley, Barclays Capital and Deutsche Bank. Aquantia’s IPO comes at a time when the Renaissance IPO ETF has gained 8.2% over the past three months and the S&P 500 has tacked on 4.4%.

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General Electric Co.’s stock slipped 0.3% in morning trade Friday, putting it on track to suffer a 10th-straight loss, and to close at the lowest level since July 20, 2012. A 10-session losing streak would be the longest since the 10-day stretch ending Oct. 28, 2009. The has shed 16.6% during its current streak; during the October 2009 streak, it lost 14.4%. The stock has continued to fall since GE reported disappointing earnings, and amid uncertainty over what new CEO John Flannery will announce at the investor gathering scheduled for Nov. 13. The stock plunged 37.1% year to date, while the Dow Jones Industrial Average has rallied 19.0%.

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WASHINGTION (MarketWatch) – U.S. factory orders rose 1.4% in September to mark the third gain in the last four months, the Commerce Department reported Friday. Economists polled by MarketWatch had expected a gain of 1.3%. Orders for durable goods, about half of all orders, rose 2%. Orders for non-defense capital goods excluding aircraft advanced 1.7%.

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U.S. stock benchmarks gave up slight opening gains on Friday, following a jobs report that was slightly cooler than Wall Street expected but solid enough to keep intact the Federal Reserve’s plan to lift interest rates in December. The Dow Jones Industrial Average fell 0.1% at 23,487, the S&P 500 index gave up 2 points, or 0.1% at 2,578. Meanwhile, the Nasdaq Composite Index held on to a less-than 0.1% rise at 6,720, as the technology-heavy index scored a bump from better-than-expected corporate results from iPhone-maker Apple Inc. . The Cupertino, Calif., company is set to become the first company with a $900 billion valuation. The October payroll report showed 261,000 jobs added over the month, below the 325,000 that had been expected. However, the unemployment rate dipped to 4.1% from 4.2% and the September report was raised to show a gain, compared with the initial read of job losses. The October report suggests that there are still lingering effects from Hurricanes Harvey and Irma, which had muddled September’s labor-market results. The dollar and benchmark 10-year yields fell slightly after the jobs reading.

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Apple Inc. was within $5.2 billion of becoming the first $900 billion company by market capitalization in the first minute after the open, before the technology giant’s stock pared some gains. Apple said in its annual 10-K filed Friday morning with the Securities and Exchange Commission that it had 5,134,312,000 billion shares outstanding as of Oct. 20, down from 5,165,228,000 shares outstanding as of July 21, according to the fiscal third-quarter 10-Q filing. At the stock’s all-time intraday high Friday of $174.26, Apple’s market cap was $894.71 billion. It would take a $7.18, or 4.3%, gain Friday to $175.29 for Apple to reach the $900 billion market. Teh stock has las up $3.4, or 2.2%. It has run up 48% year to date, while the Nasdaq Composite has climbed 25% and the Dow Jones Industrial Average has gained 19%.

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The Dow Jones Industrial Average flipped into negative territory in early trade as declines in Goldman Sachs and Boeing Co. helped to offset a record rally in Apple’s stock. Goldman Sachs Group Inc. , Boeing Co. and International Business Machines Corp. were combining to exact a more than 30-point tax on the price-weighted Dow . Those declines were putting pressure on gains from Apple Inc., which was contributing about 25 points to the blue-chip gauge. Meanwhile, the S&P 500 index was down less than 0.1% at 2,578, also slipping into the red after opening gains as the financial sector retreated . The technology-laden Nasdaq Composite Index was holding on to slight gains on the back of Apple’s rising shares, which took it to a valuation at $900 billion for the first time.

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Paramount Pictures, the film division of Viacom Inc. that is currently in turnaround mode, said on Friday that it has extended its exclusive partnership with Hasbro Inc. to produce and distribute content based on Hasbro brands. The five-year deal expands on the two companies’ current relationship. Terms of the deal were not disclosed. Paramount’s relationship with Hasbro has gifted it five “Transformers” films, which have grossed $4.4 billion worldwide, as well as two “G.I. Joe” films and a “Transformers” spin off, “Bumblebee,” set for a December 2018 theatrical release. Under the agreement, Paramount and Hasbro will co-finance projects, including TV programming, and Paramount will serve as distributor. Shares of Viacom have declined nearly 26% in the year to date, while Hasbro shares are up more than 15%. By comparison, the S&P 500 index is up more than 15% and the Dow Jones Industrial Average is up 19%.

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