|
 Stocks in Asia were able to hold their own in early Friday trading following a big down day Thursday that was triggered by jitters over the spread of a coronavirus strain that has killed at least 17 people.
|
|
 * Too early to declare China virus a global health emergency
-WHO
|
|
John Stumpf: Ex-Wells Fargo boss pays $17.5m to settle charges BBC NewsFormer Wells Fargo CEO John Stumpf barred from industry, to pay $17.5 million for sales scandal CNBCFormer Wells Fargo CEO banned from banking industry and fined $17.5 million CNNWells Fargo Ex-CEO Banned, to Pay $17 Million in Fake-Account Scandal The Wall Street JournalUS Stock Market Overview - Stocks Close Mix
|
|
 Broadcom Inc. disclosed Thursday afternoon new deals with Apple Inc. worth $15 billion, and shares moved higher in extended trading. In a filing with the Securities and Exchange Commission, the chip maker said that it had signed two multiyear statement of work agreements with the iPhone manufacturer for components that will be included in Apple products beginning this month. The two deals are in addition to an agreement to supply RF chips that Broadcom disclosed last summer. Broadcom said that the two new deals as well as the rest of the previously disclosed contract would lead to, in aggregate, $15 billion in revenue for the company. Broadcom shares gained about 2% in the after-hours trading session Thursday, while Apple supplier Skyworks Solutions Inc.'s shares declined despite a strong earnings report released Thursday afternoon.
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.
|
|
E-Trade Financial Corp. late Thursday reported mixed fourth-quarter earnings, missing per-share expectations but beating revenue forecast, and the stock fell in the extended session. E-Trade said it earned $172 million, or 76 cents a share, in the quarter, compared with $270 million, or $1.06 a share, in the year-ago quarter. Revenue fell to $679 million, from $735 million. Analysts polled by FactSet had expected the discount brokerage to report a profit of 81 cents a share on sales of $671 million. The company also declared a dividend of 14 cents, payable March 2 to shareholders of record on Feb. 25. E-trade "generated our best year ever for customer trading, growth in customer cash, and stock plan implementations," the company said in a statement. E-Trade and other brokerages late last year dropped commission fees on some trades.
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.
|
|
Oil futures fell sharply on Thursday, sending U.S. prices to their lowest settlement since late November, as the spread of coronavirus raised worries about the global economy and energy demand. "All markets are watching the situation with China" and the coronavirus, said Tariq Zahir, managing member at Tyche Capital Advisors. "Energy markets could see a rather [large] impact on demand, especially if this virus gets worse." March West Texas Intermediate oil fell $1.15, or 2%, to settle at $55.59 barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since Nov. 29, according to Dow Jones Market Data.
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.
|
|
KushCo Holdings Inc. said late Thursday that the Securities and Exchange Commission has decided not to pursue an enforcement action against the company, potentially paving the way for the cannabis-focused vape and package maker to list its stock on the Nasdaq.
|
|
IMAX Corp. said Thursday it supports the decision to postpone the Chinese New Year film slate in China because of the outbreak of a new coronavirus in the city of Wuhan that has sickened more than 500 people and killed 17. "The safety of Chinese audiences is our top priority," the operator of big screen cinemas said in a statement. "IMAX supports the decision to postpone the release of the Chinese New Year film slate and believes it to be the best course of action in an unfortunate situation."
The news comes as Wuhan remains in a state of lockdown as the Chinese authorities work to contain the virus, which has been compared to SARS and MERS, two other coronaviruses. Cases of the illness have been confirmed in the U.S., Japan, Thailand and Singapore and the World Health Organization is holding a meeting to decide whether to declare a global health emergency. The virus is understood to be passed from human to human. The outbreak has come on the cusp of Chinese New Year, when millions of Chinese people travel around the country to be with family. IMAX shares were down 3.6% and have fallen 10% in the last 12 months, while the S&P 500 has gained 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.
|
|
Grubhub Inc. announced Thursday that it has launched technology called Ultimate that brings the meal ordering system to one comprehensive channel. The new system will give restaurants of every size digital pickup capability, give order status updates, and more. Grubhub also sees opportunity at stadiums and other event venues where long lines for food and drink are common. Order pickup is a $250 billion U.S. business, according to data provided by Grubhub. The Ultimate technology rollout starts in New York City and Chicago at 100 locations. Late last year, Grubhub announced that it would focus the coming months on efforts to create customer loyalty and build business with small- and medium-sized companies. Grubhub stock is up 2.1% in Thursday trading, but down 22.7% over the last year. The S&P 500 index is up 25.7% for the past 12 months.
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.
|
|
Private Label