MarketWatch.com - MarketPulseбез даты Текст источника в новой вкладке
MarketWatch, a leading publisher of business and financial news, offers users up-to-the minute news, investment tools, and subscription products.
Copyright 2019, MarketWatch, Inc.

 
 
1. British pound volatile after report says major Brexit-deal obstacle removed15:43[−]

The British pound was sent on a rollercoaster ride Wednesday, spiking briefly against the U.S. dollar on a report that a big obstacle to a Brexit deal has been removed. The pound briefly jumped to a session high of $1.2839, which would make for its best level since June, after RTE reported that Northern Ireland's Democratic Unionist Party was accepting the so-called consent element of the revised Brexit agreement, seen as the last big obstacle to a deal. The U.K. has said it's open to some flexibility on the mechanism that would allow Northern Ireland politicians to decide whether it remains in regulatory alignment with the European Union as set out in Britain's latest Brexit deal proposals. The pound has since fallen back after the DUP's leader Arlene Foster reportedly denied the report and said talks will continue. Markets have been on a knife-edge in the runup to a two-day European Union meeting that starts Thursday, seen as a deadline for a deal to get done. The pound has since drifted back to $1.2783.

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.


2. Canadian cannabis company Cronos says Australian joint venture is planning a November IPO15:39[−]

Canadian cannabis company Cronos Group Inc. said Wednesday its 50/50 joint venture with NewSouthern Capital Pty Ltd. called Cronos Australia is planning to offer 40 million shares in an initial public offering planned for November. The company is expected to price the deal at AUD$0.50 ($0.34) a share. The venture was formed in February of 2018. Once the deal has been completed, Cronos will own a 31% stake in Cronos Australia, which is expected to have an initial market capitalization of AUD$64.4 million. Cronos shares were up 1.6% in premarket trade, but have fallen 20% in 2019, while the ETFMG Alternative Harvest ETF has fallen 21% and the S&P 500 has gained about 20%.

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.


3. Tech Data's stock soars toward record high after report of Apollo buyout interest15:33[−]

Shares of Tech Data Corp. soared 13% toward a record high in premarket trading Wednesday, after Reuters reported that Apollo Global Management made a bid to buy the information technology company for nearly $5 billion. The report, out late Wednesday, said Apollo would pay $130 for each Tech Data share, which represents a 17% premium to Tuesday's closing price of $111.34, and imply a market capitalization of about $4.63 billion. On Wednesday, Stifel Nicolaus analyst Matthew Sheerin reiterated his hold rating but raised his stock price target to $125 from $105. "Although Tech Data's board is obligated to give serious consideration to any takeout offers, we would not be surprised to see the the company consider other, potentially higher offers, particularly considering the strong execution at the company in recent quarters," Sheerin wrote in a note to clients. The stock has rallied 7.9% amid a 5-day win streak to a record close Tuesday. It has climbed 36.1% year to date through Tuesday, while the S&P 500 has advanced 19.5%.

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.


4. European Commission orders Broadcom to halt anti-competitive practices15:21[−]

The European Commission said Broadcom , the world's leading supplier of chipsets used for TV set-top boxes and modems, is engaging in anti-competitive practices and ordered it to halt the practices. Broadcom is using clauses containing exclusive or quasi-exclusive purchasing obligations and granting customers commercial advantages conditional on the customer buying systems-on-a-chip for cable modems exclusively or quasi-exclusively, the regulator alleged. The Commission's use of injunction power was the first in 18 years, The Wall Street Journal reported. In a statement, Broadcom said it will appeal the ruling and that the ruling won't have a material impact on the set-top box or broadband modem businesses. "As we previously disclosed in an 8-K filing on June 26, 2019, Broadcom's contracts with the customers that the European Commission characterizes as exclusivity-inducing remain in force, other than the provisions at issue, and we intend to continue to support these customers going forward," the company said. (Updates with Broadcom's response.)

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.


5. Nio's stock drops after report that talks of funding for a new factory were halted15:17[−]

Shares of Nio Inc. dropped 5.2% in active premarket trading Wednesday, after a report that talks for a sizable investment to build a factory in China were called off. On Tuesday, the China-based electric car maker's stock rose 1.3% after the National Business Daily (NBD) reported that Nio was in talks with Wuxing District of Huzhou City on funding of over 5 billion renminbi, or about $704 million at current exchange rates, for a factory in the district with a capacity to make 200,000 vehicles a year. On Wednesday, NBD reported the talks were halted given the heavy risks, with no agreement of intent having been reached. Nio's stock has plunged 53.0% over the past three months through Tuesday, while U.S.-based rival EV maker Tesla Inc. shares have gained 2.2% and the S&P 500 has eased 0.3%.

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.


6. AMC streaming service may help company capture market share from rivals: analyst15:09[−]

Imperial Capital analyst David Miller said AMC Theatres new streaming service for its loyalty program members will likely spur more loyalty from those customers and may help the company take market share from competitors. "In general, more services tacked on to loyalty programs in price elastic businesses tend to, more often than not, foster more loyalty," Miller wrote in a note to clients. "That has been the case over the years in the airline industry as airline loyalty programs have grown more sophisticated." Miller said his initial reaction to the news was negative. AMC said the more than 20 million U.S. households that are AMC Stubs members can now stream more than 2,000 films on its mobile app, and/or a Roku device on demand and receive points against their Stubs memberships, that can be used in-theater. That seemed to encourage them to stay at home to watch films, the exact opposite of what cinemas are trying to persuade them to do. But he changed his view on seeing the positive market response and realizing that the company is using its loyalty program as a distribution network for the first time. "'AMC Theaters on Demand' now has the opportunity not only to promote various trailers for upcoming films in the theater, but also to promote new theater/re-seating renovations and/or MacGuffins Wine Bar features at select locations," he wrote. The analyst is sticking with his outperform rating on the stock and $21 price target. AMC shares were up 2% premarket, but have fallen 25% in 2019, while the S&P 500 has gained 19.5%.

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.


7. Incyte reports positive results in late-stage trial of treatment for GVHD14:59[−]

Incyte Corp. shares rose 1.2% in premarket trade Wednesday, after the biotech said a late-stage trial of a treatment for patients with steroid-refractory acute graft-versus-host disease, or GVHD, met its main goal of improving overall response rate. Wilmington, Delaware-based Incyte said there were no new safety signals in the phase 3 trial evaluating ruxolitinib (Jakafi). GVHD is a condition that can occur after the transfer of stem cells from a donor when the donated cells trigger an immune response and attack the recipient's organs. "GVHD is a challenging and serious disease, and physicians around the world need access to therapies that can improve outcomes for patients," said Peter Langmuir, M.D., group vice president, targeted therapies, at Incyte. The trial, which is sponsored by Novartis as well as Incyte, continues with results expected to be presented in 2020. Incyte shares have gained 23.5% in 2019, while the S&P 500 has gained 19.5%.

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.


8. Penske Automotive raises quarterly cash dividend to 41 cents a share14:46[−]

Penske Automotive Group In c. said Wednesday its board has approved another increase in its quarterly cash dividend, boosting it to 41 cents a share from 40 cents last quarter. The operator of commercial truck dealerships and parts maker said it's the 34th straight quarterly increase. The new dividend will be payable Dec. 3 to shareholders of record as of Nov. 8. Shares were not yet active premarket, but have gained 11.8% in 2019, while the S&P 500 has gained 19.5%.

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.


9. Abbott Labs stock falls after profit matches expectations, sales comes up a bit shy14:44[−]

Shares of Abbott Laboratories fell 2.7% in premarket trading Wednesday, after medical device, diagnostics and drug maker reported a third-quarter profit that was in line with expectations, while sales came up a bit shy. Net income rose to $960 million, or 53 cents a share, from $563 million, or 32 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to 84 cents from 75 cents, matching the FactSet consensus of 84 cents. Sales increased 5.5% to $8.08 billion, below the FactSet consensus of $8.11 billion. Within Abbott's business segments, revenue for medical devices was slightly above expectations, while nutrition, diagnostics and established pharmaceuticals was slightly below. Looking ahead, Abbott expects fourth-quarter adjusted EPS of 94 cents to 96 cents, surrounding the FactSet consensus of 95 cents, and narrowed its 2019 guidance range to $3.23 to $3.25 from $3.21 to $3.27. The stock has gained 13.3% year to date through Tuesday, while the SPDR Health Care Select Sector ETF has advanced 5.8% and the S&P 500 has climbed 19.5%.

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.


10. Achillion Pharmaceuticals' stock rockets after Alexion Pharmaceuticals $930 million buyout deal14:15[−]

Shares of Achillion Pharmaceuticals Inc. rocketed 82% in premarket trading Wednesday, after the biopharmaceutical company agreed to be acquired by Alexion Pharmaceuticals Inc. in a cash deal valued at $930 million. Alexion's stock slipped 0.1% ahead of the open. Under terms of the deal, Alexion will pay $6.30 for each Achillion share outstanding, which is 73% above Tuesday's closing price of $3.65 and implies a market-capitalization of $880.05 million. The deal also includes potential for an additional payment for Achillion shares in the form of contingent value rights (CVRs) to be paid if certain clinical and regulatory milestones are achieved. The CVRs include $1 a share for U.S. Food and Drug Administration approval of danicopan and $1 a share for ACH-5228 phase 3 initiation. Danicopan, Achillion's lead drug candidate, has received breakthrough therapy designation for treatment, in combination with a C5 monoclonal antibody, for patients with a rare blood disorder paroxysmal nocturnal hemoglobinuria (PNH). Over the past three months, Achillion's stock has rallied 47.8% and Alexion shares have dropped 14.7%, while the iShares Nasdaq Biotechnology ETF has slipped 2.9% and the S&P 500 has eased 0.3%.

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.


11. Bank of America's stock jumps after profit beats expectations, revenue surprisingly rises14:05[−]

Shares of Bank of America Corp. rose 1.8% in premarket trading Wednesday, after the bank reported a third-quarter profit that fell less than expected, while revenue surprisingly increased, as consumer and global banking and wealth and investment management revenue increased to offset a slight decline in global markets revenue. Net income fell to $5.78 billion, or 56 cents a share, from $7.17 billion, or 66 cents a share, in the year-ago period. Total revenue rose to $22.81 billion from $22.72 billion, while the FactSet consensus was for a decline to $22.58 billion. Net interest income grew to $12.19 billion from $12.06 billion, above the FactSet consensus of $12.15 billion, and non-interest income slipped to $10.62 billion from $10.66 billion but topped expectations of $10.38 billion. Average loans rose 5% to $9 billion, driven by residential mortgages. Equities revenue grew 13% to $1.1 billion, helped by growth in client financing activities, while fixed income, currency and commodities revenue was flat at $2.1 billion as improvement in mortgages and municipal products was offset by weaker trading in FX and credit products. The stock has gained 2.6% over the past three months through Tuesday, while the Dow Jones Industrial Average has slipped 1.1%.

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.


12. Eli Lilly says late-stage trial of pancreatic cancer treatment failed to meet its main goal of overall survival13:57[−]

Eli Lilly and Co. said Wednesday a late-stage trail of a treatment for pancreatic cancer did not meet its main goal of overall survival. The company said detailed results of the phase 3 trial called Sequoia evaluating pegilodecakin plus FOLFOX (folinic acid, 5-FU, oxaliplatin) compared to FOLFOX alone in patients with metastatic pancreatic cancer will be presented at a future medical meeting. Metastatic pancreatic cancer is one of the deadliest major cancers with just 3% of patients that are diagnosed in the U.S. surviving five years after being diagnosed. The disease is the third leading cause of cancer deaths and is expected to become the second leading cause in the next 10 years. "While we are disappointed by the outcome of the SEQUOIA study, we look forward to the upcoming results in lung cancer, learning from those results and increasing our understanding of pegilodecakin's novel mechanism of action in cancer immunotherapy," Maura Dickler, vice president of late phase development at Lilly Oncology said in a statement. Eli Lilly shares were not yet active premarket, but have fallen 5% in 2019, while the S&P 500 has gained 19.5%.

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.


13. Hexo to sell Original Stash cannabis flower at 'black market prices'13:39[−]

Hexo Corp. unveiled Wednesday its value cannabis brand Original Stash, which the Canada-based company said is priced at "black market prices." The company said adult-use consumers can buy 28 grams, or one ounce, of Original flash dried flower for C$125.70 ($95.11) including taxes, or the equivalent of C$4.49 a gram ($3.40). The first Original Stash product is OS.210, offered as a hybrid sativa dried flower blend at 12% to 18% THC, which will be available in retail stores on Oct. 17. "Our aim with Original Stash is to disrupt the illicit market, educate consumers about the value of a regulated and tested product, and drive them to purchase their cannabis legally," said Hexo Chief Executive Sebastien St-Louis. Hexo's stock has tumbled 49% over the past three months, while the ETFMG Alternative Harvest ETF has tumbled 35% and the S&P 500 has eased 0.3%.

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.


14. Pound slides after report EU refers to Brexit deal impossible without U.K. concession12:52[−]

The British pound came under pressure on Wednesday as concerns grew that EU and U.K. negotiators huddled in Brussels were at an impasse over an exit deal. The pound slid below $1.27 after Bloomberg reported an EU official said a Brexit agreement was impossible without more concessions from the U.K. The development comes after Democratic Unionist Party raised objections to Johnson's proposals. Negotiators working through the night were unable to reach a compromise, meaning talks could run into Thursday's European Union summit.

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.


15. British CPI stays at 1.7% in September, slightly below forecast11:33[−]

U.K. consumer price growth stayed at 1.7% in September, the Office for National Statistics said Wednesday. Economists polled by FactSet expected a 1.8% rise. While fuel prices, used cars and electricity prices fell, there were increases for furniture, household appliances and hotel stays.

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.


16. Alexandria Ocasio-Cortez to endorse Bernie Sanders for president06:46[−]

New York Rep. Alexandria Ocasio-Cortez will endorse Sen. Bernie Sanders for president during a rally Saturday. The Washington Post first reported her plans Tuesday night, and Sanders deputy communications director Sarah Ford later confirmed the news to the Associated Press. The endorsement from the influential young liberal is seen as a coup for Sanders, the Post said, and a blow to Sen. Elizabeth Warren as the two vie to win over the Democratic Party's left wing. Late Tuesday night, Rep. Ilhan Omar of Minnesota officially endorsed Sanders, calling him "the best candidate to take on Donald Trump in 2020." Separately, CNN reported a third "Squad" member, Rep. Rashida Tlaib of Michigan, will also back Sanders. Warren has gained -- and Sanders slipped -- in a number of recent polls, elevating her to front-runner status along with former Vice President Joe Biden. Warren, Sanders, Biden and nine other candidates squared off Tuesday night in Ohio for the fourth Democratic presidential debate.

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.


17. Pelosi holds off on House vote authorizing impeachment inquiry 'at this time'02:30[−]

House Speaker Nancy Pelosi said Tuesday the House will not hold a vote authorizing an impeachment inquiry into President Donald Trump "at this time." Speaking to reporters on Capitol Hill, Pelosi said there is no requirement to hold such a vote. The White House has criticized the lack of a vote, calling the Democrats' impeachment inquiry illegitimate. Pelosi, a California Democrat, said Republicans can't defend Trump so they are focusing on process.

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.


18. Natera stock falls after hours on secondary-offering announcement01:10[−]

Natera Inc. shares fell in the extended session Tuesday after the DNA test company announced a secondary offering of its stock. Natera shares fell 6% after hours, following a 2.7% gain to close the regular session at $39.22. The company said it plans to offer $175 million in shares, with underwriters getting an option for $26.3 million to cover overallotments. J.P. Morgan, Morgan Stanley, Cowen, and Piper Jaffray are among the underwriters. At Tuesday's closing price, about 5.1 million shares will be offered, compared with about 70 million shares currently outstanding.

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.


19. All Kitchen Collection stores will close by the end of 2019Вт., 15 окт.[−]

Hamilton Beach Brands Holding Co. announced Tuesday afternoon that it will close all 160 of its Kitchen Collection stores by the end of the year. Hamilton Beach said that it would commence sales at the stores in the next few days that will last into the holiday-selling season before the stores - which employ about 800 workers - shut down by the end of the year. "While operating losses have moderated from the prior year in the first half of 2019, Kitchen Collection continues to experience decreased comparable store sales as a result of declining foot traffic due to the consumer shift to e-commerce sales," Hamilton Beach Chief Executive Gregory Trepp said in an announcement Tuesday afternoon. Hamilton Beach shares have declined 29% so far this year, as the S&P 500 index has gained 18.3%.

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.


20. Interactive Brokers Q3 sales beat Wall Street expectationsВт., 15 окт.[−]

Shares of Interactive Brokers Group Inc. fell slightly in the extended session Tuesday after the brokerage reported third-quarter sales above Wall Street expectations and its quarterly per-share profit was in line with views. Interactive Brokers said it earned $36 million, or 45 cents a share, in the quarter, compared with $39 million, or 51 cents a share, a year ago. Revenue was $466 million, compared with $439 million a year ago. The company pinned the results in part on a 19% growth in net interest income and a 12% increase in commissions revenue from a year ago. Analysts polled by FactSet had expected earnings of 45 cents a share on sales of $461 million. Shares of Interactive Brokers ended the regular trading day up 0.9%. The company announced last month that it was rolling a "lite" version of its trading platform with free trading for U.S. equities, a move followed by similar announcements from companies such as Fidelity Investments, Charles Schwab Corp. and TD Ameritrade Holding Corp.

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.


21. United Airlines stock higher after company raises guidance, tops profit viewsВт., 15 окт.[−]

Shares of United Airlines Holdings Inc. rose 3% in the extended session Tuesday after the airline reported an adjusted third-quarter profit above Wall Street expectations and raised guidance for the year. United said it earned $1 billion, or $3.99 a share, in the quarter, compared with $833 million, or $3.05 a share, in the year-ago quarter. Adjusted for one-time items, United earned $4.07 a share, compared with $3.05 a share a year ago. The company reported operating revenue of $11.38 billion in the quarter, compared with $11.00 billion a year ago. Analysts polled by FactSet expected United to report adjusted earnings of $3.97 a share on sales of $11.42 billion. United raised its full year 2019 adjusted EPS guidance to a range between $11.25 and $12.25. The company is "ahead of pace" to reach its goal of an adjusted EPS between $11 and $13 by the end of 2020, Chief Executive Oscar Munoz said in a statement. Shares of United had ended the regular trading day up 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.


22. MGM selling Circus Circus, huge stake in BellagioВт., 15 окт.[−]

MGM Resorts International said late Tuesday it is selling its Circus Circus casino resort in Las Vegas and a huge interest in its Bellagio resort. MGM shares rose 0.5% after hours, following a 0.4% decline to end the session at $27.87. The company said it was entering a joint venture with Blackstone Group Inc.'s Real Estate Income Trust in a sale-leaseback deal for $4.25 billion, where MGM will have a 5% stake in the JV. The sale is expected to close by the end of the year. MGM also said it is selling Circus Circus for $825 million to an affiliate of Treasure Island owner Phil Ruffin. The deal is made up of $662.5 million in cash and a $162.5 million note due 2024.

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.


23. Stocks end with gains as Dow, S&P 500 turn positive for OctoberВт., 15 окт.[−]

Stocks ended higher Tuesday, with the Dow Jones Industrial Average and the S&P 500 turning positive for October as investors largely cheered a round of third-quarter corporate earnings. The Dow rose around 238 points, or 0.9%, to end near 27,025, according to preliminary figures, while the S&P 500 gained around 30 points, or 1%, to finish near 2,996. The Nasdaq Composite closed at 8,149, a gain of around 100 points, or 1.2%. The gains left the Dow up 0.4% for the month to date, with the S&P 500 gaining 0.6% over the same stretch. The Nasdaq Composite added to its October advance, up 1.9% so far. Shares of UnitedHealth Group Inc. led Dow and S&P 500 gainers, rising 8.2%, after topping Wall Street estimates, while shares of JPMorgan Chase & Co. , also a Dow component, advanced 3% after its results. Goldman Sachs Group Inc. , meanwhile, lagged the market, rising 0.3% after disappointing Wall Street with its third-quarter results.

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.


24. Giuliani says he won't comply with congressional subpoena: reportВт., 15 окт.[−]

Rudy Giuliani, President Donald Trump's personal lawyer, said Tuesday he won't comply with a congressional subpoena, ABC News reported. Tuesday was the deadline for the former New York mayor to comply with a wide-ranging subpoena from three House committees working on the impeachment inquiry into Trump. "If they enforce it then we will see what happens," Giuliani told ABC.

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.


25. Bank of America's stock surges ahead of earnings after report Buffett wants to boost stakeВт., 15 окт.[−]

Shares of Bank of America Corp. rallied 2.7% in afternoon trading, after Bloomberg reported that Warren Buffett's investment vehicle Berkshire Hathaway Inc. has asked the Federal Reserve for permission to boost its stake to above the 10% level, as holding a stake of more than 10% often triggers a regulatory review. Berkshire Hathaway is Bank of America's largest shareholder, with 950 million shares, or 10% of the shares outstanding, according to FactSet. The stock's rally comes a day before the bank is scheduled to report third-quarter results, before the stock market's opening bell. The stock has tacked on 2.4% over the past three months, while the SPDR Financial Select Sector ETF has slipped 0.1% and the Dow Jones Industrial Average has eased 1.1%.

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.


26. Westwater Resources stock more than doubles as graphite delivery spurs hopes for battery businessВт., 15 окт.[−]

Shares of micro-cap Westwater Resources Inc. rose about 100% in afternoon trade Tuesday, after the company said it has taken delivery of an initial batch of 20 metric tonnes of graphite concentrate and will now start to send samples to battery manufacturers for testing. Chief Executive Christopher Jones said battery companies will test samples of differing weights to make sure they are compatible with their equipment. "It's a big milestone," he said. Westwater was founded 40 years as a uranium producer but changed its name in 2017 to reflect a broader focus on energy materials, including lithium and graphite. In September, the company announced a long-term purchase agreement for high-purity, natural flake graphite concentrate for its planned Advanced Battery Materials Processing Facility at the Coosa Graphite Project in Alabama. The company posted a net loss of $2.8 million, or $1.81 a share, for its most recent quarter, down from $20.5 million, or $25.64 a share, in the year-earlier period, when it booked a nearly $18 million impairment charge for uranium mineral interests. On its second-quarter earnings call, Jones said a major battery manufacturer that was testing the company's ULTRA-Purified Micronized Graphite had requested a bulk sample 1 metric ton in size battery-grade graphite for further testing. "At the same time, we also have laboratory testing ongoing with additional potential customers. We are also among the first in the graphite development space who released long-term cycling performance results of our spheronized graphite materials from our Coosa Graphite Project," he told analysts, according to a FactSet transcript. "We're not aware of anyone to-date to report long-term cycling data for U.S.-sourced natural flake graphite materials." Shares have gained 75% in the past month, while the Russell 2000 small-cap index has fallen 3.3%.

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.


27. EIA forecasts U.S. shale oil output to climb by 58,000 barrels a day in NovemberВт., 15 окт.[−]

Crude-oil production from seven major U.S. shale plays is forecast to climb by 58,000 barrels a day in November to 8.971 million barrels a day, according to a report from the Energy Information Administration released Tuesday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the bulk of that increase, up 63,000 barrels a day in November from October. Shale oil output from the Anadarko and Eagle Ford regions, however, are expected to see monthly declines, the report showed. On Tuesday, uncertainty surrounding U.S.-China trade negotiations and lower global economic growth expectations by the International Monetary Fund contributed to losses in oil prices. The November contract for West Texas Intermediate oil fell 41 cents, or 0.8%, to $53.18 a barrel ahead of its 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.


28. Canopy Growth's sale of AusCann stake shows a focus shift to core assets and profitability: JefferiesВт., 15 окт.[−]

Canopy Growth Corp.'s announcement earlier Tuesday that it has sold its 13.2% stake in Australian producer AusCann for proceeds of C$6 million ($4.8 million) is a sign that the Canadian company is starting to clear its balance sheet to focus more on core assets and attaining profitability, according to Jefferies. Analysts Owen Bennett and Ryan Tomkins said the increased focus ins welcome, but "we do wonder how much more cleaning up may have to come." The deal is immaterial to either cash of international positioning, they wrote in a note to clients. Canopy had C$2.3 billion of cash as of last quarter, and the Australian market is expected to be just 1% of the Canadian market next year. Canopy Chief Executive Mark Zekulin told the analysts at a July meeting that with all the M&A deals Canopy had conducted, the complexity in the business had become significant. "With Bruce Linton (the old CEO) often saying in interviews past a key part of his and Canopy's strategy was "go into a market, spend and dominate, and then do the same again", we wonder how many assets that have been acquired are indeed non core, especially as the cash Constellation gave Canopy often meant money was no object," they wrote, referring to the $4 billion investment made last year by the brewer of Corona beer. "Further, we wonder how much Canopy would get for these assets when it sells them?" They noted that Hiku, an all-stock deal that closed in September at C$600 million, has still produced minimal revenue. U.S.-listed shares of Canopy were up 6.6% Tuesday, but have fallen 25% in 2019, while the ETFMG Alternative Harvest ETF has fallen 22%, and the S&P 500 has gained about 20%.

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.


29. Chinese education company Youdao to offer 5.6 million ADSs in IPO, priced at $15 to $18 eachВт., 15 окт.[−]

Chinese education company Youdao Inc. set terms for its planned initial public offering on Tuesday, saying in a regulatory filing that it expects to offer 5.6 million American Depositary Shares priced at $15 to $18 each. The company has applied to list on the New York Stock Exchange under the ticker symbol "DAO." Citigroup, Morgan Stanley, Credit Suisse, CICC and HSBC are underwriters on the deal. "For over a decade, Youdao has developed and used technologies to provide learning content, applications and solutions to users of all ages," the company says in its IPO documents. "We're the leading intelligent learning company in China with over 100.0 million average total MAUs* (monthly average users) in the first half of 2019." Proceeds of the deal will be invested in technology and product development, in branding and marketing, in efforts to further grow the company's user base and for other general corporate purposes.

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.


30. S&P 500 within 1% of all-time closing high, while Dow pushes back above 27,000Вт., 15 окт.[−]

Major stock indexes moved closer to record levels Tuesday, as investors cheered a raft of largely upbeat corporate earnings. The S&P 500 was up 1.1% at 2,998.81, leaving it around 1% below its record close of 3,025.86 set on July 26. The Dow Jones Industrial Average was around 242 points higher just after midday, a gain of 0.9%, at 27,030, leaving it around 1.2% below its record finish of 27,359.16 set on July 15. The Nasdaq Composite traded at 8,143, up 1.2% on the day and around 2.3% away from its record close of 8,330.21 scored on July 26.

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.



 
Каталог RSS-каналов (лент) — RSSfeedReader
Всего заголовков: 30
По категориям:
Все заголовки
По датам:
Все заголовки
2019-10-16, Ср. (18)
2019-10-15, Вт. (12)
По авторам:
Все заголовки