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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
Shares eye record high as Fed heads for 2017 hat-trick
LONDON (Reuters) - Global shares were within a whisker of another record high on Wednesday as markets traded on expectations of a third U.S. interest rate hike this year and waited to hear from the Federal Reserve on how many more are likely in 2018.

Reuters Company NewsDec 13, 2017
GLOBAL MARKETS-Shares eye record high as Fed heads for hat-trick
LONDON, Dec 13 (Reuters) - Global shares were within a whisker of another record high on Wednesday as markets traded on expectations of a third U.S. interest rate hike of the year, and waited to hear from the Federal Reserve how many more are likely in 2018.

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GLOBAL MARKETS-Asian shares up, dollar dips as Republicans lose Alabama Senate race (Reuters Company News)

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)

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.

Google Business NewsDec 13, 2017
Shares in Australia's Westfield rise 15 percent after $16 billion Unibail bid - Yahoo Finance

USA TODAY


SYDNEY (Reuters) - Shares of Australian shopping mall giant Westfield Corp rose as much as 15 percent on Wednesday, their biggest single-day gain, after the company said it would accept a $16 billion takeover offer from France's Unibail
How two Holocaust survivors founded Westfield and what's next for the retail empireSBS
The entire future of shopping malls could be under question following Westfield saleNEWS.com.au
In Spending Spree, European Mall Operator Bets on WestfieldNew York Times
Los Angeles Times -Bloomberg -


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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