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MarketWatch MarketPulseSep 17, 2019
Kraft Heinz's stock falls after 2nd-largest shareholder sells $713 million worth of shares
Shares of Kraft Heinz Co. slumped 4.2% in midday trading, enough to pace decliners among its consumer staples peers group, after the food and beverage company's second-largest shareholder cut its stake by more than 9%. In a Form 4 filing with the Securities and Exchange Commission, Kraft Heinz disclosed that private-equity firm 3G Capital sold 25.1 million Kraft Heinz shares on Monday at a price of $28.44, which values the shares sold at $712.95 million. That left 3G with a 245.03-million-share stake, or 20.1%, of the shares outstanding. 3G's stake is second to Warren Buffett's Berkshire Hathaway Inc.'s 325.6-million-share stake as of June 30, which is 26.7% of the shares outstanding. 3G and Berkshire orchestrated the creation of Kraft Heinz when Kraft Foods Group Inc. and H.J. Heinz Co. agreed in March 2015 to merge. Kraft Heinz's stock has tumbled 34.1% year to date, while the SPDR Consumer Staples Select Sector ETF has rallied 19.7% and the Dow Jones Industrial Average has climbed 15.8%.

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.



Reuters Company NewsSep 17, 2019
GLOBAL MARKETS-Oil down as Saudi output rebound seen soon; stocks weak as Fed meets
* Wall Street opens slightly weaker; dollar drifts lower (Updates throughout with open of U.S. markets, changes dateline; previous LONDON)

Reuters Company NewsSep 17, 2019
EMERGING MARKETS-Latam currencies slump, stocks teeter ahead of central bank meetings
Latin American currencies slumped on Tuesday as investors shied away from riskier assets ahead of key central bank meetings, while concerns over geopolitical tensions stemming from attacks on Saudi oil facilities lingered. Oil prices dropped sharply after a Saudi Arabian source told Reuters that production could be fully back on line within weeks, quicker than initially thought, but sentiment was still fragile over the threat of retaliation f

MarketWatch MarketPulseSep 17, 2019
General Motors stock gains as strike continues
Shares of General Motors Co. rebounded early Tuesday as the strike affecting the company entered its second day. The stock gained 0.5% in early trading, breaking a four-day losing streak and after closing down 4.3% on Monday. About 50,000 GM workers entered a strike this week, at a cost to the company of about $50 million a day, according to analyst estimates. The strike affects more than 31 GM plants, the majority of the company's North American production. Shares of GM have gained 12% this year, compared with gains of 16% for the S&P 500 index .

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.



MarketWatch MarketPulseSep 17, 2019
Datadog's expected IPO pricing increased, lifting value of share offering to up to $624 million
Datadog disclosed Tuesday that expected pricing of its initial public offering has increased to $24 to $26 a share from $19 to $22, which raises the value of its 24-million-share offering to up to $624 million from $528 million. If the underwriters exercise the options to buy up to an additional 3.6 million shares, the company could raise up to $717.6 million. The digital transformation and cloud migration software company's stock is expected to list on the Nasdaq under the ticker symbol "DDOG." The lead underwriters of the IPO are Morgan Stanley, Goldman Sachs, J.P. Morgan and Credit Suisse. For the six months ended June 30, Datadog recorded a net loss of $13.4 million on revenue of $153.3 million, after a profit of $498,000 on revenue of $85.4 million in the same period a year ago. The company is looking to go public at a time the Renaissance IPO ETF has rallied 44.2% year to date while the S&P 500 has gained 19.6%.

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.



MarketWatch MarketPulseSep 17, 2019
Stocks open slightly lower as Fed begins two-day meeting
Stocks opened slightly lower Tuesday as Federal Reserve policy makers were set to begin a two-day meeting expected to conclude with another quarter-point cut in interest rates. The Dow Jones Industrial Average fell 77 points, or 0.3%, to 27,000, while the S&P 500 declined 4 points, or 0.1%, to 2,994. The Nasdaq Composite was off 5 points, or 0.1%, at 8,148. Stocks ended lower Monday as oil prices surged in the wake of a weekend attack on Saudi Arabian oil-production facilities. Crude pulled back on Tuesday, while investors looked ahead to the outcome of the Fed meeting.

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.



Reuters Company NewsSep 17, 2019
RPT-U.S. value fund managers betting shift to value stocks won't last
The massive U.S. market rotation into value stocks over the last two weeks is finally giving value fund managers a reason to be hopeful after years of underperformance.
TRENDING TAGS
OilSaudi Attack stocks prices attacks
SaudiOil attack Attacks prices output
FedOil stocks Saudi meeting rates
StrikeGM UAW Workers General Motors
fundFiler D/A Ltd Fed LP
StocksOil Fed Saudi lower attack
streamingservice Amazon Peacock Bang Theory
WorkersGM Strike union talks likely
talksGM union workers health continue
StockOil Saudi Fed lower attack

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