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Reuters BusinessDec 13, 2017
Wall Street rises at open as technology stocks gain
(Reuters) - Wall Street opened higher on Wednesday on gains in technology stocks while investors awaited the Federal Reserve's decision on an interest rate hike due later in the day.

MarketWatch MarketPulseDec 13, 2017
Nordic American Tankers stock slides 26% on news of share offering
Shares of Nordic American Tankers Ltd. , which operates a trading fleet of 20 vessels, slid 26% Wednesday, after the company announced a to recapitalization program with an underwritten offering of $110 million of common shares, priced at $2.75 a pop. The proceeds of the deal will be used to pay down a credit facility stemming from 2004, finance growth and for general corporate purposes. Evercore ISI analysts said the plan was 'more punitive than expected.' If it is successful, the company can return to paying up to 50% of its cash flow as dividends, although until then, the dividend will be capped at 3 cents a share. If the recap is not successful, there is a backstop facility in place at an interest rate of at least 78.4% and a dividend cap of 3 cents a share, they wrote in a note. 'In the end, although the recap was necessary it is more costly than we had expected and until the Backstop Facility is cancelled the stock may remain under pressure. As such, we are lowering our price target to $3 (from $4) and we maintain our underperform rating,' they wrote. Shares are down 67% in 2017, while the S&P 500 has gained 19%

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 MarketPulseDec 13, 2017
U.S. stocks open slightly higher; Dow, S&P could post fifth straight daily gain
U.S. stocks opened modestly higher on Wednesday, with major indexes trading near record levels and both the Dow and the S&P 500 on track for their fifth straight daily advance. The Dow Jones Industrial Average rose 27 points, or 0.1%, to 24,532. The S&P 500 was up 3 points to 2,667, a gain of 0.1%. Both ended at records on Tuesday. The Nasdaq Composite Index was up 20 points, or 0.3%, at 6,883. Trading was somewhat subdued as investors waited for a Federal Reserve policy decision, with the central bank widely expected to raise interest rates. In company news, Proteostasis Therapeutics Inc. slumped 8% after it said it would sell 7 million shares of its common stock. Nordic American Tankers Ltd. was down 26% a day after it said it would sell $100 million shares via a public offering as part of its recapitalization plan.

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 MarketPulseDec 13, 2017
JD.com stock rises after Stifel resumes coverage with a buy
Shares of JD.com rose 1% in premarket trading Wednesday after analysts at Stifel resumed coverage of the stock with a buy rating. In a note entitled 'one big market, two big winners,' the analysts, led by Scott Devitt, argued that there's room for both JD.com and Alibaba Group Holding to capture growth in China. Devitt sees growth opportunities stemming from better payment and delivery options, expansion to more rural markets, and better integration between online and offline operations. 'JD is the more structured player with controlled logistics and an initial first-party model that has grown into a first-party/third-party hybrid,' he wrote. Devitt predicts that JD.com will grow its market share to 18% by the end of 2017, up from about 6% in 2013. 'We expect JD to continue to gain share of the retail market it serves for years to come,' he added. JD.com shares are up 52% so far this year, compared with a 99% gain for Alibaba's stock and a 19% rise for the S&P 500.

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 BusinessDec 13, 2017
Oil up on U.S. crude stocks draw, Forties outage supports
LONDON (Reuters) - Oil prices rose on Wednesday as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles, while expectations for an extended shutdown of a major North Sea crude pipeline also continued to bolster markets.

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MarketWatch MarketPulseDec 13, 2017
Jones's Alabama win doesn't change prospects for tax bill passage, analyst says
Doug Jones's victory in the Alabama Senate election Tuesday night does not change prospects for the Republican tax bill, said Brian Gardner of Keefe, Bruyette & Woods in a note Wednesday. 'We expect the tax bill will probably be passed by Congress before Christmas,' Gardner said. He noted Jones won't be sworn in until the Senate receives certification from Alabama. Alabama's secretary of state estimates certification will be between Dec. 26 and Jan. 3. The election 'should not impact the tax bill unless some other factor(s) derail the tax bill and push the issue into 2018,' Gardner said.

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 BusinessDec 13, 2017
Futures flat ahead of Fed's decision on interest rate hike
(Reuters) - U.S. stocks futures pointed to a flat open for Wall Street on Wednesday as investors awaited the Federal Reserve's announcement on benchmark interest rate and assessed the Democratic win in the Alabama Senate election.

MarketWatch MarketPulseDec 13, 2017
Stemline Therapeutics shares jump 4% premarket after positive trial of leukemia treatment
Shares of biotech Stemline Therapeutics Inc. jumped 4% premarket Wednesday, after the company said a trial of a treatment for acute myeloid leukemia met its main goal. Stemline said data from the trial of its SL-401 therapy in blastic plasmacytoid dendritic cell neoplasm (BPDCN), a highly aggressive, lethal malignancy of unmet medical need, with no approved therapies, showed it met its primary endpoint. The trial involved 45 patients and data was presented at this week's American Society of Hematology annual meeting. 'The remarkable data presented at ASH from our pivotal trial with SL-401 in BPDCN sets the stage for our upcoming BLA submission and a successful 2018,' Stemline Chief Executive Ivan Bergstein said in a statement. Shares have gained 43% in 2017, while the S&P 500 has gained 19%.

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.



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This Electric Truck Will Probably Beat Tesla's to Market - Bloomberg (Google Business News)

Reuters Company NewsDec 13, 2017
CANADA STOCKS-TSX hits all-time high in broad rally
TORONTO, Dec 13 (Reuters) - Canada's main stock index hit an all-time high in early trade on Wednesday, boosted by broad gains led by its heavyweight financial and natural resources sectors.

The Motley FoolDec 13, 2017
3 Top Energy Stocks to Buy in December
Despite a tough year for energy stocks, shares of Buckeye Partners, Pattern Energy, and Marathon Petroleum look compelling.

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10 Losers That Will Be 2018's Best Stocks to Buy (Kiplinger)

MarketWatchDec 13, 2017
NewsWatch: How investors can still fatten their portfolios with these tax-friendly stocks
Some will say this stock market has all but priced in any tax-reform benefit, but our call of the day flags one sector that still has some room to run — think obesity.

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Need to Know: How investors can still fatten their portfolios with these tax-friendly stocks (MarketWatch)

The Motley FoolDec 13, 2017
Simpler? This Senate Move Would Make Selling Stocks More Taxing
Find out how a new rule could hit you in the wallet.

Reuters Company NewsDec 13, 2017
UPDATE 3-Oil up on U.S. crude stocks draw, Forties outage supports
* Britain's biggest pipeline likely to be shut for several weeks

MarketWatch MarketPulseDec 12, 2017
Facebook to direct fewer ad sales through low-tax Ireland
Facebook Inc. said Tuesday that it will record advertising revenue in countries where it sells ads instead of at its Dublin, Ireland, headquarters. The company said in a blog that it aims to complete the transition by the first half of 2019 and anticipates that it will require significant resources to implement around the world. 'We believe that moving to a local selling structure will provide more transparency to governments and policy makers around the world who have called for greater visibility over the revenue associated with locally supported sales in their countries,' Facebook Chief Financial Officer Dave Wehner said in the blog post. While it's unclear from the blog exactly how much revenue Facebook is talking about, the company records 47% of its revenue in the U.S., according to FactSet. The change would significantly boost Facebook revenue recorded in 27 countries including Germany, Japan and Argentina likely increasing the tax bill in those countries, according to The Wall Street. Facebook shares have gained 54% this year, with the S&P 500 index gaining 19%.

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.



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Lawmakers settling on corporate rate of 21% in tax bill: report (MarketWatch MarketPulse)

Google Business NewsDec 12, 2017
What Is Litecoin, and Why Is It Beating Bitcoin This Year? - Fortune

Fortune


With digital currency Bitcoin taking the spotlight in 2017, it's hard to remember the other cryptocurrencies that have been growing in its shadow. An increasingly-prominent example: Litecoin. The fourth largest digital currency by market capitalization
Bitcoin Rally Boosts Smaller Cryptos Litecoin, Ether to RecordsBloomberg
Coinbase halts ether and litecoin trading as cryptocurrency market approaches $500 billionBusiness Insider
Price Analysis, Dec. 12: Bitcoin, Ethereum, Bitcoin Cash, IOTA, Litecoin, Dash.Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
CNNMoney -Forbes -Yahoo Finance -


The Motley FoolDec 12, 2017
These 3 Stocks Just Raised Their Dividends
There isn't much time left for companies to get in their last payout hikes of 2017. This trio made it with only weeks to spare.

NYTimes BusinessDec 12, 2017
S&P, Dow Rise With Help From Banks; Nasdaq Lags
The S&P 500 and the Dow industrials registered record closing highs on Tuesday with a boost from bank stocks as investors eyed a potential cut in U.S. corporate taxes and continued economic growth after strong inflation data.

Google Business NewsDec 12, 2017
Oil hits two-year-and-a-half year high on pipeline shutdown, stocks take breather - Reuters

Reuters


LONDON (Reuters) - Oil prices jumped to their highest in more than two years on Tuesday after the shutdown of a North Sea pipeline knocked out significant supply from an already tightening market. A pedestrian stands to look at an electronic board
North Sea Oil Producers Brace for Forties Pipeline ShutdownBloomberg
Here's Why Oil Prices Just Spiked Above $65 for First Time Since 2015Fortune
Oil tops $65, first time since 2015, on UK pipeline outageYahoo Finance
Wall Street Journal -Seeking Alpha -

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