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MarketWatch MarketPulseJun 26, 2019
Pier 1 stock falls after earnings
Pier 1 Imports Inc. shares were down 16% in after-hours trading Wednesday after the retailer reported fiscal-first quarter earnings. Pier 1 reported a net loss of $81.7 million, or $19.97 a share, compared with a loss of $28.5 million, or $7.11 a share, a year earlier. The company completed a 1-for-20 reverse stock split on June 20. Net sales for the quarter fell to $314 million from $371 million in the year-earlier period. Analysts surveyed by FactSet expected $330 million in revenue. The company posted a 13.5% drop in comparable-store sales compared with a year prior. Pier 1 shares have gained 44% so far this year, as the S&P 500 has risen 16%.

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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Reuters Company NewsJun 26, 2019
US STOCKS-Wall St gains on tech rally, trade hopes rekindled
Technology shares led the S&P 500 and the Nasdaq higher on Wednesday after remarks by Treasury Secretary Steven Mnuchin rekindled hopes for a de-escalation of U.S.-China trade tensions and brought buyers back from the sidelines.

CNBC FinanceJun 26, 2019
Stocks making the biggest moves after hours: Rite Aid, Herman Miller and more
See which stocks are posting big moves after the bell.

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EMERGING MARKETS-Most Latam currencies firm on trade optimism, stocks largely down (Reuters Company News)
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Reuters Company NewsJun 26, 2019
US STOCKS-S&P 500 dips as healthcare declines counter tech gains
* Trade hopes muddied after mixed messages from Mnuchin, Trump

MarketWatchJun 26, 2019
Futures Movers: U.S. oil, gasoline futures post highest settlements in 5 weeks
U.S. oil prices climb sharply Wednesday after the U.S. government reported a weekly drop of nearly 13 million barrels in domestic crude stocks, while gasoline futures rally by 5% on news a planned refinery closure.

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Gasoline, WTI oil futures settle at 5-week highs (MarketWatch MarketPulse)
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MarketWatchJun 26, 2019
Market Snapshot: S&P 500 logs longest losing skid in about 7 weeks
U.S. stocks closed mostly lower as investors grew nervous about the state of global trade.

Reuters BusinessJun 26, 2019
S&P 500 dips as healthcare declines counter tech gains
The S&P 500 ended slightly lower on Wednesday as gains in technology stocks were offset by a drop in healthcare shares, and investors parsed mixed messages regarding the state of ongoing U.S.-China trade talks.

MarketWatch MarketPulseJun 26, 2019
Investors should 'tread somewhat lightly' on Nvidia shares, says Bernstein
Bernstein analyst Stacy Rasgon wrote Wednesday that while investors may see Nvidia Corp. shares as attractively valued given that they are off about 50% from their 52-week high, he is "growing nervous" on the stock. "Given recent events, Nvidia's stock for now likely depends on hope for cyclical datacenter recovery," he wrote. "This is fine as it is, but appears well incorporated into numbers already (with consensus modeling a substantial datacenter snapback as early as FQ3 to levels well above the prior peak, which itself now appears clearly inflated) into an environment that may still not be hugely supportive." Rasgon maintained a market-perform rating on the stock, writing that he recommends investors "tread somewhat lightly." The stock is still up 2.8% in premarket trading after Micron Technology Inc.'s earnings report helped lift chip shares more broadly. Nvidia shares have fallen 37% over the past 12 months, as the S&P 500 has gained 7.2%.

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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Chip stocks in broad rally after Micron beats on earnings, resumes some shipments to Huawei (MarketWatch MarketPulse)

MarketWatch MarketPulseJun 26, 2019
Nasdaq snaps 3-day skid as Micron's stock jumps but trade-hope rally falters in late trade
The Nasdaq Composite Index registered a modest gain on Wednesday, buoyed by a Micron Technologies-led rebound in chip makers, but the broader market finished slightly lower to flat, as selling in real estate, utilities and consumer staples weighed. The Nasdaq finished up 25 points, or 0.3%, at 7,910 (on a preliminary basis), halting three straight days of losses as upbeat quarterly results by Micron helped to inspire a rally in the semiconductor sector . However, gains faded in the last two hours of trade as investors wrestled with the coming G-20 gathering in Japan, where President Donald Trump and his Chinese counterpart, Xi Jinping, are expected to discuss a cease-fire in tariff tensions. Markets were higher in early trade after investors interpreted a CNBC interview of Treasury Secretary Steven Mnuchin in Bahrain as signaling hope for a Sino-American trade deal. Mnuchin said that an accord was 90% complete. The Dow Jones Industrial Average closed down 11 points, or less than 0.1%, at 26,536, while the S&P 500 index shed 0.1% to end at 2,914.

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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MarketWatch MarketPulseJun 26, 2019
Bitcoin price dives $1,700 in minutes as Coinbase website goes down
The price of bitcoin plunged more than $1,700 in 15 minutes Wednesday afternoon after the website of cryptocurrency exchange Coinbase apparently crashed. After topping a 17-month high above $13,700 earlier Tuesday, bitcoin sank below the $12,000 level, and was last trading around $12,400. A notice on Coinbase's website read "An error has occurred. We've been notified about the issue and are taking a look." The website appeared to be working again by 5:15 p.m. Eastern. According to the site's status page, the issue was "resolved" around 5:40 p.m. Eastern and all functions appeared operational. The digital currency is up 60% this month, and more than 230% year to date.

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 MarketPulseJun 25, 2019
Apple buys autonomous-car startup Drive.ai: reports
Apple Inc. acquired autonomous-driving startup Drive.ai on Tuesday, according to multiple reports. Apple confirmed the deal to both Axios and the San Francisco Chronicle. The startup was once valued at around $200 million and will cease operations Friday, the Chronicle reported. Apple has hired dozens of Drive.ai hardware and software engineers, Axios said, but a filing with the state of California said 90 employees would be laid off. The startup had offices in California and Texas. A purchase price was not disclosed. The Information reported that the deal was in the works earlier this month. The deal could signal a renewed driverless-car push by Apple. Earlier this year, CNBC reported about 190 workers in Apple's autonomous-car unit, mostly hardware and software engineers, had been laid off.

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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