NEWS: MARKETWATCH MARKETPULSE
Setup News Ticker
   NEWS: MARKETWATCH MARKETPULSE
MarketWatch MarketPulse
Sep 30, 2020

Yalla Group prices IPO at $7.50 per ADS
Yalla Group Ltd. , a social networking and entertainment platform active in the Middle East and North Africa, priced its initial public offering at $7.50 per American Depositary Share on Wednesday, the lower end of its $7 to $9 price range. The company sold 18.6 million shares to raise about $139.5 million. The shares will start trading on the New York Stock Exchange later in the day, under the ticker "YALA." Morgan Stanley and Haitong International Securities Company Limited were joint bookrunners for the offering, with Tiger Brokers (NZ) Limited acting as co-manager. Proceeds will be used to finance product development, marketing and for general corporate purposes.

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 MarketPulse
Sep 30, 2020

ConocoPhillips to resume share buybacks in Q4 with plans to repurchase $1 billion of its own stock
ConocoPhillips said Wednesday it is planning to resume share buybacks in the fourth quarter with plans to repurchase $1 billion worth. The Houston-based oil and gas company made the announcement as it offered updated guidance for the third quarter. The company expects production volumes of 1,050 thousands barrels of oil equivalent per day, or MBoed, to 1,070. "This estimate reflects the impact of third-quarter curtailments and planned seasonal turnaround activity," the company said in a statement. It expects average realized prices of $30 to $32 per barrel of oil equivalent. ConocoPhillips expects adjusted operating costs to range from $1.180 billion to $1.250 billion, and capex excluding acquisitions of $750 million to $820 million. The company will release third-quarter earnings on Oct. 29. Shares were up 0.4% premarket, but have fallen 50% in the year to date, while the S&P 500 has gained 3.2%.

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.



MarketWatch MarketPulse
Sep 30, 2020

NYSE sets $7.25 reference price for Palantir's direct listing, and $21 for Asana
The New York Stock Exchange set a so-called reference price of $7.25 a share for data-mining-software company Palantir Technologies' direct listing Wednesday. In a statement, the exchange said the reference price is not the opening price, but rather a guide for investors. Asana , a work collaboration software company which is also going public via a direct listing on Wednesday, has a reference price of $21, according to the New York Stock Exchange.

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 MarketPulse
Sep 30, 2020

Elanco Animal Health to cut 900 jobs in 40 countries in restructuring following acquisition of Bayer Animal Health
Elanco Animal Health Inc. said Wednesday it is restructuring its business just two months after closing the acquisition of Bayer Animal Health. The Greenfield, Indiana-based company said it expects to cut 900 jobs across nearly 40 countries, mostly in sales and marketing, but also in R&D, manufacturing and quality, and back office support. The company is aiming to generate at least $100 million in annual savings, and will start to de-lever, by paying $100 million on its term loan. Elanco is aiming to capture initial synergies from the deal, despite the challenges presented by the coronavirus pandemic. "After our early view of the combined business, we have full confidence in delivering $275 million to $300 million in synergies, with the first two-thirds coming in the first 30 months," Chief Executive Jeff Simmons said in a statement. The restructuring is expected to cost $190 million to $210 million, and the company will book a restructuring charge of $130 million to $145 million in the third quarter, followed by $40 million to $45 million in the fourth quarter. Shares were not active premarket, but have fallen 9% in the year to date, while the S&P 500 has gained 3.2%.

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.



MarketWatch MarketPulse
Sep 30, 2020

Coronavirus tally: Global cases of COVID-19 top 33.6 million, 1.008 million deaths and Trump blames China for outbreak
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 33.6 million on Wednesday, according to data aggregated by Johns Hopkins University, while the death toll rose to 1.008 million. The U.S. has the highest case tally at 7.2 million, and highest death toll at 205,998. In the first of three planned presidential debates, President Donald Trump blamed China for the outbreak, while rival Democrat Joe Biden slammed Trump's handling of the crisis. "It is what it is because you are who you are," Biden said, parotting the phrase Trump used in a recent Axios interview regarding the U.S. death toll. Brazil has the second-highest death toll at 142,921, but third-highest case tally at 4.8 million. India is second to the U.S. by case tally at 6.2 million, and has the third-highest death toll at 97,497. Mexico is fourth with 77,163 deaths and seventh with 738,163 cases. The U.K. has 42,162 deaths and 448,734 cases, the highest death toll in Europe and fifth-highest in the world.

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 MarketPulse
Sep 30, 2020

Oasis Petroleum files for prepackaged Chapter 11 with plan to reduce debt by $1.8 billion
Oasis Petroleum Inc. shares slid 26% in premarket trade Wednesday, after the company said it is filing for Chapter 11 bankruptcy with a prepackaged plan with creditors, aiming to reduce its debt by $1.8 billion. The company is the latest energy company to collapse beneath the weight of a weak oil price and constrained demand during the coronavirus pandemic. "In light of a volatile market environment that drove a severe downturn in oil and gas prices, as well as the unprecedented impact of the COVID-19 pandemic, Oasis Petroleum engaged with its lenders and an ad hoc committee of noteholders regarding restructuring alternatives to reduce debt, increase financial flexibility and position the business for long-term success," the company said in a statement. Oasis has secured a $450 million debtor-in-possession loan and has sufficient liquidity to maintain operations. The company expects to emerge from bankruptcy in November, subject to court approval, and expects to have about $340 million of borrowings under a credit facility. Shares have fallen 87% in the year to date, while the S&P 500 has gained 3.2%.

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.



MarketWatch MarketPulse
Sep 30, 2020

Pulmonx upsizes IPO to 10 million shares and lifts price range
Pulmonx, a maker of treatments for lung diseases including emphysema, upsized its planned initial public offering on Wednesday and raised the proposed price range, saying in a regulatory filing it will now offer 10 million shares priced at $17 to $18 each. The company has previously said it would offer 6.7 million shares priced at $14 to $16 each. Pulmonx has applied to list on Nasdaq, under the ticker "LUNG." BofA, and Morgan Stanley are lead underwriters on the deal, with Stifel, Wells Fargo and Canaccord acting as co-managers. Proceeds of the deal will be used to hire sales and marketing people, fund R&D, to pay a success fee to Oxford of $1.9 million and for working capital. "We are a commercial-stage medical technology company that provides a minimally invasive treatment for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD)," the company says in its prospectus.

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 MarketPulse
Sep 30, 2020

Chinese pet products online platform Boqii Holding prices IPO at $10 per ADS
Boqii Holding Ltd. , a Chinese pet products online platform, priced its initial public offering at $10 per American Depositary Share on Wednesday, selling 7 million ADS to raise $70 million. The stock will start trading on the New York Stock Exchange later Wednesday, under the ticker "BQ." Roth Capital Partners, CMB International Capital Limited and Valuable Capital Limited were underwriters on the deal.

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 MarketPulse
Sep 30, 2020

Dow to book Q3 restructuring charges of $500 million to $600 million as it cuts costs during pandemic
Dow Inc. said Wednesday it expects to book restructuring charges of $500 million to $600 million in the third quarter, as the materials science company, which makes plastics and paints among other products, pushes ahead with a cost cutting program during the pandemic. The company said the charges will consist of severance and related benefit costs, exit and disposal activity costs and asset write-downs and write-offs. The company is on track to achieve its reduced target for capex of $1.25 billion in 2020, down from $2.0 billion in 2019. "Given the expected gradual and uneven global economic recovery from COVID-19, we announced in July that we are taking necessary actions to continue to optimize our asset footprint, reduce structural costs and enhance the competitiveness of our business over the long-term," Chief Executive Jim Fitterling said in a statement. The company is expecting to close the dale of rail infrastructure assets at six North American sites to Watco three months earlier than planned for cash proceeds or more than $310 million. Shares were not active premarket, but have fallen 15% in the year to date, while the S&P 500 has gained 3.2%.

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.



MarketWatch MarketPulse
Sep 30, 2020

Moderna climbs after saying COVID-19 vaccine generates antibodies in older adults
Moderna rose 4% in early premarket trade as it said late Tuesday that early-stage data suggests its COVID-19 vaccine can generate neutralizing antibodies in older and elderly adults at levels comparable to those in younger adults. The study was published in The New England Journal of Medicine. Moderna's stock has surged 251% this year.

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 MarketPulse
Sep 30, 2020

Apple CEO Cook awarded stock grants with current valuation of up to $114 million
Apple said in a Securities and Exchange Commission filing that it will give its chief executive, Tim Cook, stock currently valued at $114 million. The biggest portion of the restricted stock is eligible for distribution on Oct. 1, 2023, and is based on Apple shareholder performance between fiscal 2021 and fiscal 2023. Cook also is due to receive further grants in April 2023, April 2024 and April 2025. Apple stock ended Tuesday down 87 cents to $114.09, but has surged 55% this year.

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 MarketPulse
Sep 29, 2020

API data reveal a modest weekly decline in U.S. crude supplies, sources say
The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 831,000 barrels for the week ended Sept. 25, according to sources. The API data also reportedly showed gasoline stockpiles climbed by 1.6 million barrels, while distillate inventories fell by 3.4 million barrels. Crude stocks at the Cushing, Okla., storage hub, meanwhile, added 1.6 million barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. The EIA data are expected to show crude inventories up by 1.9 million barrels last week, according to analysts polled by S&P Global Platts. They also forecast supply declines of 1.3 million barrels for gasoline and 1.7 million barrels in distillates. November West Texas Intermediate crude was at $39.19 a barrel in electronic trading, down from Tuesday's settlement at $39.29 on the New York Mercantile Exchange.

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 MarketPulse
Sep 29, 2020

Progress Software stock falls after fiscal Q3 earnings
Progress Software Corp. shares fell by as much as 11% in the extended session Tuesday after the company reported fiscal third-quarter earnings and raised its outlook for the year. Progress said it earned $24 million, or 53 cents a share, in the quarter, compared with 30 cents a share in the year-ago quarter. Adjusted for one-time items, Progress earned 78 cents a share, compared with 75 cents a share a year ago. Revenue rose 3% to $109.7 million, Progress said. Analysts polled by FactSet had expected progress to report an adjusted profit of 77 cents a share on sales of $110.1 million. "Our success in Q3 was driven by the incredible work and dedication of our employees under the challenging circumstances created by the continuing COVID-19 crisis," Chief Executive Yogesh Gupta said in a statement. The company upped its revenue guidance for fiscal 2020 to between $438 million and $442 million, or for EPS between $1.63 and $1.66. The shares ended the regular trading day up 4%.

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 MarketPulse
Sep 29, 2020

Regeneron says that trial coronavirus drug cocktail cut virus load, aided patient recovery
Shares of Regeneron Pharmaceuticals Inc. were halted in late trading Tuesday after the drug maker said its trial antiviral drug cocktail reduced the coronavirus load and the time needed to ease symptoms in non-hospitalized patients with COVID-19. The cocktail, named REGN-COV2, also showed "positive trends in reducing medical visits," the company said. The drug cocktail is under an ongoing, randomized trial that measures the effect of adding it to usual COVID-19 standard-of-care compared with adding a placebo. The "greatest improvements" were in patients "who had not mounted their own effective immune response prior to treatment," Regeneron said. This trial is part of a larger program that also includes studies of REGN-COV2 for the treatment of hospitalized COVID-19 patients, and for prevention of infection in people exposed to COVID-19, the company said. Regeneron said it plans to "rapidly to discuss results with regulatory authorities." Shares of Regeneron ended the regular trading session up 0.3%.

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 MarketPulse
Sep 29, 2020

Stock market ends lower, halts 3-session string of gains as Wall Street awaits Trump-Biden face-off later Tuesday
U.S. stocks snapped a three-session mini streak of gains on Tuesday, as investors found few reasons to push equity benchmarks to further gains ahead of a key debate between President Donald Trump and Democratic challenger, former Vice President Joe Biden. The Dow Jones Industrial Average closed off 0.5% at around 27,453, the S&P 500 index closed down 0.5% at 3,335, while the Nasdaq Composite Index finished off 0.3% at 11,085, on a preliminary basis. All three major indexes had risen for three consecutive days before this pullback and are still holding onto solid weekly gains. Investors will focus on the Trump-Biden debate for clues about policy and gauge the trajectory of the 2020 election race for the White House. Biden currently leads the president by around 8 percentage points, according to an average of national polls by RealClearPolitics. The debate is set to take place at 9 p.m. Eastern in Cleveland.

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 MarketPulse
Sep 29, 2020

Dick's Sporting Goods to eliminate single-use plastic bags by 2025
Dick's Sporting Goods Inc. announced Tuesday its goal to eliminate single-use plastic bags from its stores by 2025. Dick's has partnered with Closed Loop Partners' Center for the Circular Economy and joined the Consortium to Reinvent the Retail Bag, working with other retailers like Target Corp. and Walmart Inc. to find sustainable solutions. Dick's stock is up 15.7% for the year to date while the S&P 500 index is up 3.4% for the period.

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 MarketPulse
Sep 29, 2020

Oil falls as demand concerns send U.S. prices to lowest finish in 2 weeks
Oil futures fell on Tuesday, as growing concerns over a coronavirus-fueled slowdown in energy demand sent prices for the U.S. benchmark to their lowest settlement in two weeks. November West Texas Intermediate crude declined by $1.31, or 3.2%, to settle at $39.29 a barrel on the New York Mercantile Exchange. That was the lowest finish for a front-month contract since Sept. 15, according to FactSet 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.



MarketWatch MarketPulse
Sep 29, 2020

Gold futures end above $1,900 at highest in a week
Gold futures climbed above $1,900 an ounce Tuesday to score their highest finish in a week as a decline in the U.S. dollar continued to provide support for the dollar-denominated precious metal. December gold rose $20.90, or 1.1%, to settle at $1,903.20 an ounce. That was the highest finish for a most-active contract since Sept. 22, according to FactSet 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.



MarketWatch MarketPulse
Sep 29, 2020

Joe Biden paid nearly $300,000 in taxes in 2019, returns show
Democratic presidential candidate Joe Biden and his wife Jill paid nearly $300,000 in federal taxes in 2019, returns released hours before the first presidential debate showed. The couple had an income of $944,737, and paid $346,204 in taxes. After a refund of $46,858, the Bidens paid $299,346 in taxes. The Bidens' release of their tax documents comes just days after the New York Times reported President Donald Trump paid just $750 in federal income taxes the year he ran for office, and none in several other years. Trump and Biden are scheduled to debate for the first Tuesday night at 9 p.m. Eastern.

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 MarketPulse
Sep 29, 2020

RH shares rise after analyst upgrade on potential for high-end home investments
Shares of home design retailer RH rose 5.4% in Tuesday trading after the company was upgraded to outperform from market perform at Cowen and raised its price target to $435 from $370. Analysts led by Max Rakhlenko think the company is on the path towards a "multi-year transformation" that has the benefit of more affluent consumers making home investments. RH also stands to gain from average unit retail (AUR) growth and migration to the suburbs. RH is expanding into Europe, with a store launch in England planned for next summer. During the most recent call, Chief Executive Gary Friedman said the company is planning to head to France over the coming years, and "throughout Europe." Cowen estimates the total addressable market (TAM) in the top 10 European economies at $40 billion to $43 billion. Analysts estimate revenue could reach $160 million in the U.K. in the first year, and $450 million after a second U.K. location launches. RH stock has gained 78.3% for the year to date while the S&P 500 index is up 3.3% for the period.

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 MarketPulse
Sep 29, 2020

J.P. Morgan to pay $920 million to DoJ after probe of precious metals and Treasury trading
J.P. Morgan Chase & Co. said Tuesday it has agreed to pay $920 million in a deferred prosecution agreement with the Department of Justice, as part of an agreement with regulators after a probe of trading practices by former employees in the precious metals and U.S. Treasurys markets. "The conduct of the individuals referenced in today's resolutions is unacceptable and they are no longer with the firm," said Daniel Pinto, co-president of JPMorgan Chase and CEO of the Corporate & Investment Bank. The agreement fully resolves investigations that were carried out by the DOJ, Commodity Futures Trading Commission and the Securities & Exchange Commission of trades made between 2008 and 2016. J.P. Morgan shares were down 1.4% Tuesday, and have fallen 32% in the year to date, while the Dow Jones Industrial Average has fallen 3% and the S&P 500 has gained 3%.

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 MarketPulse
Sep 29, 2020

VMware, Nvidia forge partnership to make AI chips easier for business use
VMware Inc. and Nvidia Corp. on Tuesday announced a partnership to make VMware's software for managing data centers work more smoothly with Nvidia's artificial intelligence chips. The companies said they would give some customers early access to the technology but did not say when it would go on sale. For years, much of VMware's work focused on making software work better with processors from Intel Corp. , which had a dominant market share of data centers.

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 MarketPulse
Sep 29, 2020

New York City's COVID-19 infection rate above 3% for the first time since June
The percentage of people who tested positive for COVID-19 in New York City surged above 3% on Monday for the first time since early June, as a cluster of cases emerged in a handful of Brooklyn ZIP codes, Mayor Bill de Blasio said on Tuesday. The city will begin issuing tickets to people who defy the state's mask mandate and could close some non-essential businesses down again in an effort to stop the cluster from becoming more widespread. -- Beckie Strum

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 MarketPulse
Sep 29, 2020

Facebook says it has helped 100,000 people sign up as poll workers
Facebook Inc. , which finds itself in the pangs of another controversial presidential election that has placed enormous pressure on its platform and how it handles information, on Tuesday said it has helped about 100,000 people sign up as poll workers. Among the highlights, North Carolina election officials said more than 11,000 people signed up from Saturday to Monday morning, according to Facebook. State officials have said they need at least 25,000 poll workers this year. Iowa reported a 15-time surge in poll worker sign ups over the weekend, while Michigan saw a 12- to 16-time jump in poll worker sign ups. Facebook Chief Executive Mark Zuckerberg shared the information in a blog post on Tuesday.

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 MarketPulse
Sep 29, 2020

Financial ETFs slide on JPMorgan fine, fizzling rotation
Financial-sector exchange-traded funds were on the back foot Tuesday, one day after notching their best session since July. The Financial Select Sector SPDR Fund slipped 1.3% while the Invesco KWB Bank ETF was 1.9% lower. JPMorgan Chase & Co. , which makes up 11% of the Sector SPDR fund and 8% of the Invesco fund, was 1.5% lower after a regulator announced the bank would pay $920 million to resolve allegations of manipulating markets. But other bank stocks fell more sharply: Wells Fargo & Co. lost 2.3%, and Citigroup Inc. shares were down 2.8%. Throughout 2020, investors have anticipated a stronger economic rebound and "rotated" exposure to sectors like financials that haven't appreciated as much as high-flyers like technology, only to rotate back shortly after.

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 MarketPulse
Sep 29, 2020

Beyond Meat stock jumps more than 10% after announcing Walmart expansion to more than 2,400 stores
Beyond Meat Inc. stock jumped 10.6% in Tuesday trading after the plant-based meat company announced that the availability of the Beyond Burger is expanding to 2,400 Walmart Inc. stores from 800 currently. The move follows the launch of Cookout Classic, a more affordable version of the Beyond Burger. Beyond Meat products are now available at 112,000 retail and foodservice outlets in 85 countries. Beyond Meat stock has soared 121.2% for the year to date while the S&P 500 index is up 3.3% for the period.

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 MarketPulse
Sep 29, 2020

Nio stock jumps more than 5% after Deutsche Bank praises company's technology
Nio Inc. American depositary receipts jumped more than 5% Tuesday after Deutsche Bank said the Shanghai-based electric-car maker commands loyalty in China and is on track to develop an autonomous car in the next couple of years. Analyst Edison Yu started covering Nio's ADRs at a buy rating earlier this month, and said in a note Tuesday that the "main pushback" on that bullish view was that Nio's brand "does not create the same level of excitement and loyalty" in China as Tesla Inc. and German luxury auto makers. "While there is some truth to that given Nio is an upstart, we continue to see compelling evidence that Nio is increasingly perceived by customers as a high-quality premium brand with best-in-class technology and service," Yu said. Investors also expressed concerns about Nio's autonomous-car technology, where local competitor XPeng Inc. "appears to be taking a lead," he said. "We expect Nio to officially unveil its all-electric sedan later this year (EE7) with a revamped hardware sensor suite that will enable L4 autonomy by 2022, which should alleviate concerns about the R&D roadmap," Yu said. Shares of Nio have gained 390% this year, which compares with a 3.4% advance 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 MarketPulse
Sep 29, 2020

Stocks slightly lower at the open, with all eyes on debate and stimulus
U.S. stocks opened modestly lower Tuesday after a big rally Monday as Wall Street awaited the presidential debate scheduled for Tuesday evening. The Dow Jones Industrial Average slipped 27 points, 0.1%, to open near 27557, while the S&P 500 lost 2 points or 0.1%, and traded near 3,349. The Nasdaq Composite was off by 7 points, 0.1%, near 11,110. In addition to the first presidential debate, investors are watching signs of progress toward an additional round of stimulus from Washington. Shares of discount retailer Big Lots Inc jumped nearly 7% after the bell, after the company raised its guidance on earnings and same-store sales.

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 MarketPulse
Sep 29, 2020

Smith & Nephew buying Integra LifeSciences unit
Smith & Nephew said it's buying the extremity orthopedics unit of Integra LifeSciences for $240 million in cash. Smith & Nephew said the deal will provide entry into the shoulder replacement and foot and ankle segment. The business generated revenue of $90 million in 2019 and traded at a small loss, and is expected to be slightly dilutive to trading profit in 2021 and 2022. Integra LifeSciences said the deal will help it focus its portfolio on neurosurgery, surgical instrumentation and regenerative medicine products. Integra will pay $41.5 million to the Consortium of Focused Orthopedists as part of the deal.

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 MarketPulse
Sep 29, 2020

Coronavirus tally: Global deaths from COVID-19 top 1 million, 33.4 million cases and U.S. counts more than 205,000 deaths
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 33.4 million on Tuesday, according to data aggregated by Johns Hopkins University, while the death toll rose to 1.002 million. The U.S. has the highest case tally at 7.1 million, and highest death toll at 205,085. The White House pressured the Centers for Disease Control and Prevention to play down the risk of sending children back to school, the New York Times reported, citing documents and interviews with current and former government officials. Brazil has the second-highest death toll at 142,058, but third-highest case tally at 4.7 million. India is second to the U.S. by case tally at 6.1 million, and has the third-highest death toll at 96,318. Mexico is fourth with 76,603 deaths and seventh with 733,717 cases. The U.K. has 42,090 deaths and 441,573 cases, the highest death toll in Europe and fifth-highest in the world.

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 MarketPulse
Sep 29, 2020

Papa John's continues run of double-digit comparable sales in September
Papa John's International Inc. said Tuesday that September systemwide North American comparable sales rose 18.4%, bringing the number of consecutive months in which the pizza delivery company reached double-digit comparable sales growth to six. Domestic company-owned restaurants were up 14.3% and international restaurants were up 23.3%. Papa John's has been providing a monthly business update during the coronavirus due to the uncertainty created by the pandemic. For the three months ending Sept. 27, North American systemwide comparable sales rose 23.8%, while international systemwide sales were up 20.6%. About 90 of 2,100 international Papa John's franchised locations are temporarily closed in accordance with government rules, while nearly all North American locations are open. "Non-traditional" locations in places like universities are closed. Papa John's says these non-traditional locations are not material to revenue. Papa John's shares have gained 32.1% for the year to date while the S&P 500 index is up 3.7% for the period.

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 MarketPulse
Sep 29, 2020

Universal Health Services reports IT breach
Universal Health Services Inc. said Tuesday there had been "an information security incident" on Sunday, and the King of Prussia, Pa.-based hospital company had since suspended user access as a result. Its stock was not active in premarket trading on Tuesday. It said in a news release that there is no evidence at this time that personal employee or patient information had been breached. "This matter may result in temporary disruptions to certain aspects of our clinical and financial operations," the company said. "Our acute care and behavioral health facilities are utilizing their established back-up processes including offline documentation methods." Universal Health Services' stock is down 27.2% for the year, while the S&P 500 is up 3.7%.

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 MarketPulse
Sep 29, 2020

Big Lots shares jump 5.7% premarket after retailer says it expects Q3 EPS to top estimates
Shares of discount retailer Big Lots Inc. jumped 5.7% in premarket trade Tuesday, after the company said it expects a big jump in third-quarter same-store sales and guided for per-share earnings that are well above the consensus. The Columbus, Ohio-based company said it expects same-store sales to come in in the mid teens. Based on that outlook, the company is expecting per-share earnings to range from 50 cents to 70 cents, compared with a FactSet consensus of 29 cents. The company posted a loss per share of 18 cents in the year-earlier period. Chief Executive Bruce Thorn said the company is on track to meet customer demand, "and early reads on Christmas are very encouraging. Shares have gained 66% in the year to date, boosted by pandemic-related demand, while the S&P 500 has gained 3.7%.

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 MarketPulse
Sep 29, 2020

UPDATE: McCormick beats third-quarter estimates, resumes guidance and unveils 2-for-1 stock split
McCormick & Co. Inc. posted better-than-expected earnings for its fiscal third quarter, resumed guidance and announced a 2-for-1 stock split, saying it is still benefiting from dining at home during the pandemic. The Hunt Valley, Md.-based maker of spices and flavorings said it had net income of $206.1 million, or $1.53 a share, in the quarter to Aug. 31, up from $191.9 million, or $1.43 a share, in the year-earlier period. Adjusted per-share earnings came to $1.53, a penny ahead of the $1.52 FactSet consensus. Sales rose to $1.430 billion from $1.329 billion, also ahead of the $1.396 billion FactSet consensus. "Our results for the third quarter continued to be significantly impacted by the sustained consumer preference for cooking more at home," Chief Executive Lawrence Kurzius said in a statement. "..Our updated 2020 outlook reflects the strength of these year-to-date results and our confidence in the sustainability of higher at home consumption trends," he said. The company is now expecting fiscal 2020 sales to grow at the upper end of its up 4% to 5% range. The company expects adjusted per-share earnings to range from $5.64 to $5.72, compared with a current FactSet consensus of $7.75. Its board has approved a 2-for-1 stock split to be conducted on Nov. 20. Shares were up 1.5% premarket and have gained 15% in the year to date, while the S&P 500 has gained 3.7%.

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 MarketPulse
Sep 29, 2020

Coronavirus tally: Global cases of COVID-19 top 1 million, 33.4 million cases and U.S. counts more than 250,000 deaths
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 33.4 million on Tuesday, according to data aggregated by Johns Hopkins University, while the death toll rose to 1.002 million. The U.S. has the highest case tally at 7.1 million, and highest death toll at 205,085. The White House pressured the Centers for Disease Control and Prevention to play down the risk of sending children back to school, the New York Times reported, citing documents and interviews with current and former government officials. Brazil has the second-highest death toll at 142,058, but third-highest case tally at 4.7 million. India is second to the U.S. by case tally at 6.1 million, and has the third-highest death toll at 96,318. Mexico is fourth with 76,603 deaths and seventh with 733,717 cases. The U.K. has 42,090 deaths and 441,573 cases, the highest death toll in Europe and fifth-highest in the world.

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 MarketPulse
Sep 29, 2020

Uber may buy ride-hailing app from Daimler and BMW: report
Uber Technologies is considering buying the ride-hailing app Free Now to boost its presence in Europe and Latin America, Bloomberg News reported, citing people familiar with the matter. Free Now is a venture of Daimler and BMW . The venture's efforts to attract more investors recently struggled to gain traction amid the coronavirus pandemic, the report 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.



MarketWatch MarketPulse
Sep 29, 2020

Wizz Air initiated at outperform by Bernstein
Wizz Air Holdings , the U.K.-listed, Central European airline, was initiated at outperform by Bernstein with a £45 price target. Analyst Daniel Roeska called Wizz Air the last great growth story in European airlines, and noted Wizz Air's home markets in Central and Eastern Europe have about 25% of the short-haul flights per capita of Western European markets. Wizz Air is "low cost to its core" and has demonstrated its ability to compete profitably wing-to-wing with Ryanair , the analyst added. Wizz Air closed Monday at £31.34 and has lost nearly 20% this year.

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 MarketPulse
Sep 28, 2020

United Natural Foods stock falls after CEO announces retirement, Q4 profit
United Natural Foods Inc. shares fell more than 3% in the extended session Monday after the food wholesaler beat Wall Street expectations for its fiscal fourth quarter but it is losing its CEO. United Natural Foods said that Chief Executive Steven L. Spinner is to retire after July 31, when his employment contract expires, or earlier if a successor is found. Spinner will remain on the board as executive chairman after the retirement, the company said. United Natural Foods' board has started a CEO search, and has hired an executive-search firm to assist. Both internal and external candidates will be considered, the company said. Shortly after the CEO retirement announcement, United Foods reported better-than-expected fiscal fourth-quarter results, pinning it on "strong customer demand as well as the benefits from cross selling." United Foods said it earned $52 million, or 89 cents a share, in the quarter, compared with 36 cents a share in the year-ago period. Adjusted for one-time items, the company earned $1.06 a share. Sales rose 0.4% to $6.75 billion. Analysts polled by FactSet had expected adjusted profit of 74 cents a share on sales of $6.6 billion for the quarter. It forecast "continued momentum" next fiscal year, saying that "food-at-home consumption remains elevated" due to the pandemic. It guided for fiscal 2021 sales between $27 billion and $27.8 billion, and adjusted EPS between $3.05 and $3.55.

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 MarketPulse
Sep 28, 2020

Hertz CFO steps down, finance VP Cheung takes on role
Hertz Global Holdings Inc. said late Monday that Kenny K. Cheung, recently promoted to executive vice president of finance, took on the role of chief financial officer last week. Cheung succeeded R. Eric Esper, promoted to CFO in August. Esper resigned to pursue a new opportunity, the company said in a statement, and he will remain with Hertz as chief accounting officer until Nov. 1 to assist in the transition. Esper had succeeded Jamere Jackson, who took the reins in August 2018. The car-rental company filed for bankruptcy in May, hit by coronavirus-related travel and business restrictions and under the weight of previous debt. Hertz in June floated a plan to sell potentially worthless stock, but later backed off after the proposal drew scrutiny from securities regulators.

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 MarketPulse
Sep 28, 2020

Dow books roughly 410-point gain to start the week, boosted by energy, industrials and financials
U.S. stocks closed sharply higher Monday, starting the week on a higher note as investors bought shares of banks, energy companies, as well as materials and industrials firms. Talk of some progress toward a fresh coronavirus aid package, however unlikely to gain much traction on Washington, and bargain hunting by investors betting on happier economic times in the throes of a global viral outbreak, helped to revive some degree of the bullish sentiment. The Dow Jones Industrial Average closed up 410 points, or 1.5%, at 27,583, the S&P 500 index finished the session up 1.6% at 3,352, powered by a 2.3% gain in financials and a 2.3% in the energy sector . The Nasdaq Composite Index , meanwhile, closed 1.9% higher at 11,117, retaking a psychological perch above 11,000. All closing numbers are on a preliminary basis. Shares of Citigroup and Morgan Stanley and Wells Fargo & Co. closed up 2.9% and 3.1%, and 3.5% respectively, helping to lead the charge higher for the economically sensitive banking sector, underscoring some bets for an improved economy by investors and efforts by investors to find value in beaten down sectors that have not enjoyed the run-up in stocks to the same degree as the highflying technology-related and work-from-home shares. Investors are also focused on the looming 2020 presidential election, with a debate between President Donald Trump and former Vice President Joe Biden set for Tuesday, which could also influence investment behavior in the short term. Last week, stocks took a hit amid rising concerns of a renewed spread of the novel strain of coronavirus that causes COVID-19. Markets got off to a strong start on Monday partly due to solid economic data out of China, which appeared to overshadow reports of fresh lockdowns and growing cases of COVID-19 in parts of Europe.

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 MarketPulse
Sep 28, 2020

Trump says 150 million Abbott rapid coronavirus tests will be distributed in 'the coming weeks'
President Donald Trump on Monday announced plans to distribute 150 million rapid COVID-19 tests made by Abbott Laboratories , in "the coming weeks." Speaking at the White House, Trump said 100 million of the tests would go to states and territories to support efforts to allow schools to reopen, while 50 million would go to nursing homes, hospices and other institutions that serve the most vulnerable. The White House announced the government's purchase of the tests from Abbott in late August.

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 MarketPulse
Sep 28, 2020

Oil futures end higher, even as demand concerns grow
Oil futures ended higher on Monday on the heels of last week's loss, finding some support as a possible oil workers' strike in Norway may lead to lower production, analysts said. Oil firms in Norway plan to close down 22% of the nation's oil and gas output if workers go on strike on Wednesday, Reuters reported Friday. Price gains for oil, however, were modest as traders continued to fret over the rise in global cases of COVID-19 and outlook for energy demand. November West Texas Intermediate crude rose 35 cents, or 0.9%, to settle at $40.60 a barrel on the New York Mercantile Exchange.

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 MarketPulse
Sep 28, 2020

Financial ETFs head for best day since July as investors rotate to deep values
Financial sector exchange-traded funds outperformed Monday as investors rotated their exposure to segments of the market that have been left behind in the big run-up in stock prices since the March bottom. The Financial Select Sector SPDR Fund was up 2.8% in the early afternoon, on track for its best daily performance since July and beating the broad S&P 500 , which was up 1.8%. The Invesco KBW Bank ETF gained 3.5%. The SPDR fund is still down more than 21% in the year to date, making it a better value proposition than sectors that have benefitted in the aftermath of the COVID-19 shock: the Technology Select Sector SPDR Fund is up more than 21% so far this year. Other beaten-down segments of the market also got more attention on Monday: the Energy Sector SPDR Fund gained more than 3% and is still down nearly 50% in 2020.

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 MarketPulse
Sep 28, 2020

Gold futures settle higher as dollar weakens
Gold futures settled higher on Monday, with the dollar-denominated precious metal buoyed by weakness in the U.S. dollar after posting a loss last week. "With the first U.S. presidential debate scheduled tomorrow, Brexit negotiations over the week and the non-farm payroll due on Friday, the markets are likely to remain very cautious and large-scale positioning is unlikely at least until the first debate is out of the way," said Rhona O'Connell, head of market analysis, EMEA and Asia regions at StoneX, in a daily note. December gold rose $16, or 0.9%, to settle at $1,882.30 an ounce.

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 MarketPulse
Sep 28, 2020

Virgin Galactic's best day in 6 months boosts space ETFs
Exchange-traded funds holding shares of Virgin Galactic Holdings Inc. took flight Monday as the stock price soared 20% after positive analyst coverage, on track for its best day since April 14. The Procure Space ETF , with 5.2% of its portfolio in the stock, was up 3.1% in the late morning, while the SPDR S&P Aerospace & Defense ETF , which has a 4.3% share, also gained 3.1%. The SPDR S&P Kensho Final Frontiers ETF , which has 4.7% in the company, had not traded Monday morning. "We see SPCE as an innovator of space technology with a truly unique offering that will allow civilians and professionals alike to access space for entertainment and research purposes," wrote SIG analysts as they initiated coverage with a positive rating. The company is one of the only true space plays in ETFs like these, which also contain many stocks that invest in the infrastructure to enable space travel.

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 MarketPulse
Sep 28, 2020

Stocks jump at the open on stimulus hopes
U.S. stocks opened sharply higher Monday on hopes for an additional coronavirus stimulus package and after strong Chinese economic data overnight. The Dow Jones Industrial Average gained 1.4%, 367 points, to open near 27,540, while the S&P 500 was up 1.4%, 47 points, near 3,345. The Nasdaq Composite started trading near 11,087, up 173 points or 1.6%. While Washington seems as divided as ever on the outlines of an aid package, investors may be taking heart in weekend discussions between the White house and congressional Democrats. Meanwhile, even as coronavirus cases continue to grow in Europe and the U.S., the Chinese national statistics office said industrial profits surged in August, signaling the world's second-largest economy was moving past the effects of the downturn. Shares of Amazon.com Inc. were higher in the morning, after the retailer announced it would hold its popular "Prime Day" over two days in October.

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 MarketPulse
Sep 28, 2020

Hologic shares gain on authorization of COVID-19 test for asymptomatic people
Shares of Hologic Inc. were up 3.6% in premarket trading on Monday after the company said it had received emergency use authorization from the Food and Drug Administration for a diagnostic test specifically aimed at people with asymptomatic COVID-19 infections. Hologic said it is the first company to offer a test screening asymptomatic individuals. This test, which is also authorized to test symptomatic people for COVID-19 infections, originally received authorization in March. Hologic's stock is up 23.2% this year, while the S&P 500 has gained 2.1%.

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 MarketPulse
Sep 28, 2020

UPDATE: Caesars Entertainment to offer 30 million shares in syndicated deal
Caesars Entertainment Inc. said Monday it has commenced an offering of 30 million shares in a syndicated deal, joining the many companies issuing record levels of debt and equity during the pandemic. Proceeds will be used for general corporate purposes, including potentially the previously announced possible cash offer for William Hill Plc. Caesars said earlier that it is in advanced talks over a possible 2.9 billion pounds ($3.7 billion) cash offer for the U.K. betting company. Deutsche Bank and J.P. Morgan are underwriting the share offering. Caesars shares rose 4% premarket, but have fallen 4.3% in the year through Friday, while the S&P 500 has gained 2.1%.

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 MarketPulse
Sep 28, 2020

Inovio's shares tumble 33% as COVID-19 vaccine trial is put on hold
Shares of Inovio Pharmaceuticals Inc. were halted and then fell 33.6% when they resumed premarket trading on Monday when the company said the Phase 2/3 clinical trial for its COVID-19 vaccine candidate was in a "partial clinical hold" while it answered additional questions from the Food and Drug Administration. The hold is not due to an adverse event, which is what paused the Phase 3 study for AstraZeneca and the University of Oxford's experimental coronavirus vaccine. Inovio said in a news release that it is working on answering the regulator's questions, it plans to respond to the FDA in October, and then the agency has 30 days to issue its decision about whether the trial can move forward. The Phase 1 trial is still underway. Inovio's stock has soared 413.3% so far this year, while the S&P 500 is up 21.%.

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 MarketPulse
Sep 28, 2020

Biotech Oncorus to offer 5.8 million shares in planned IPO, priced at $14 to $16 each
Biotech Oncorus Inc. set terms for its initial public offering on Monday with plans to offer 5.8 million shares priced at $14 to $16 each. The company has applied to list on Nasdaq, under the ticker "ONKR." Jefferies, Evercore ISI and Piper Sandler are underwriting the deal with proceeds earmarked for clinical trials, to expand manufacturing capabilities and for working capital. "We are a clinical stage biopharmaceutical company focused on developing next-generation viral immunotherapies to transform outcomes for cancer patients," the company saysin its prospectus.

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 MarketPulse
Sep 28, 2020

Devon Energy and WPX to combine in all-stock merger of equals with enterprise value of about $12 billion
Devon Energy Corp. and WPX Energy Inc. said they have agreed to combine in an all-stock merger of equals with an enterprise value of about $12 billion. The deal was reported earlier by the Wall Street Journal. Under the terms of the deal, WPX shareholders will receive 0.5165 shares of Devon common stock for each share owned. Devon shareholders will own about 57% of the new entity and WPX shareholders will own about 43%. The deal is expected to close in the first quarter of 2021. "The strategic combination will create a leading unconventional oil producer in the U.S., with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin," the companies said in a joint statement. The combined company will be named Devon Energy, and will enjoy "enhanced scale, improved margins, higher free cash flow and the financial strength to accelerate the return of cash to shareholders through an industry-first "fixed plus variable" dividend strategy," said the statement. The deal is expected to immediately boost all relevant per-share metrics in the first year, including earnings, cash flow, free cash flow, and net asset value, and to be accretive to return on invested capital. It will have about $1.7 billion of cash on hand and $3 billion of capacity on a credit facility expected at closing. Devon shares jumped 11% premarket on the news, while WPX was up 18%.

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 MarketPulse
Sep 28, 2020

Coronavirus tally: Global cases top 33 million, death toll edges toward 1 million and U.S. death toll tops 204,000
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 31.1 million on Monday, according to data aggregated by Johns Hopkins University, while the death toll rose to 998,074. The U.S. has the highest case tally at 7.1 million, and highest death toll at 204,758. Brazil has the second-highest death toll at 141,741, but third-highest case tally at 4.7 million. India is second to the U.S. by case tally at 6.1 million, and has third-highest death toll at 95,542. Mexico is fourth with 76,430 deaths and seventh with 730,317 cases. The U.K. has 42,077 deaths and 437,517 cases, the highest death toll in Europe and fifth-highest in the world.

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 MarketPulse
Sep 28, 2020

Cal-Maine Foods shares jump 3.9% premarket after egg producer posts smaller-than-expected loss
Cal-Maine Foods Inc. shares rose 3.9% in premarket trade Monday, after the egg producer posted a smaller-than-expected loss for its fiscal first quarter and sales that topped estimates. Jackson, Miss.-based Cal-Maine said it had a net loss of $19.4 million, or 40 cents a share, in the quarter to Aug. 29, after a loss of $45.8 million, or 94 cents a share, in the year-earlier period. Sales rose to $292.8 million from $241.2 million. The FactSet consensus was for a loss of 53 cents a share and sales of $284 million. "Our results for the first quarter of fiscal 2021 reflect continued challenging market conditions as we proactively monitor and manage our operations in the face of the COVID-19 pandemic," Chief Executive Dolph Baker said in a statement. Total dozens of eggs sold rose 3.8% in the period, he said, due to continued strong retail demand as consumers still eat more at home. While demand from food service customers is improving as more restaurants reopen, food service demand is still far below pre-quarantine levels, weighing on egg prices. "Market prices for eggs remained volatile over the first quarter and decreased overall compared to prices at the end of fiscal 2020, which reflected increased consumer purchases due to the COVID-19 pandemic and seasonal demand due to Easter falling in the fourth quarter," said Baker. The company will not pay a dividend for the quarter. Shares have fallen 9% in the year to date, while the S&P 500 has gained 2.1%.

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 MarketPulse
Sep 28, 2020

MobileIron to be acquired by Ivanti in all-cash deal valued at about $872 million
MobileIron, a mobile security platform serving the work-from-home market, said Monday it has agreed to be acquired by Ivanti Inc. in an all-cash deal valued at about $872 million. Under the terms of the deal, MobileIron shareholders will receive $7.05 in cash per share, equal to a 27% premium over the closing price on Friday. The deal is expected to close late in the fourth quarter. "By bringing MobileIron and Pulse Secure into the Ivanti portfolio, organizations will be able to manage and secure users, devices, data, and access to ensure that every device in an organization is covered, while delivering a contextual personalized employee experience," the companies said in a statement. MobileIron shares jumped 6% premarket on the news and are up 37% in the year to date, while the S&P 500 has gained 2.1%.

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 MarketPulse
Sep 28, 2020

CarMax resumes share buybacks after suspending program in April due to pandemic
CarMax Inc. said Monday it has resumed its share buyback program after suspending it in April due to the coronavirus pandemic. The retailer of new and used cars said in a regulatory filing that it has $1.51 billion left in its share buyback authorization. Shares were not active premarket but have gained 7% in the year to date, while the S&P 500 has gained 2.1%.

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 MarketPulse
Sep 25, 2020

Online marketplace Poshmark confidentially files for IPO
Poshmark Inc. said late Friday it confidentially submitted to securities regulators a draft registration statement for its initial public offering. The number of shares to be offered and the price range are yet to be determined, the Redwood City, Calif., company said in a press release. The IPO is expected to start after the Securities and Exchange Commission completes its review process, subject to market conditions. Poshmark is an online marketplace for new and used clothing and other fashion items.

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 MarketPulse
Sep 25, 2020

Trump has picked Amy Coney Barrett as Supreme Court nominee: report
President Donald Trump has selected Amy Coney Barrett to succeed the late liberal Supreme Court Justice Ruth Bader Ginsburg, said a New York Times report on Friday citing unnamed sources close to the process. But the report also said aides have cautioned that Trump sometimes upends his own plans. CNN in a separate report said Trump intends to choose Barrett. The president is slated to announce his pick at 5 p.m. Eastern Time Saturday.

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 MarketPulse
Sep 25, 2020

Dow industrials, S&P 500 rally mightily on Friday but fail to avoid longest weekly losing streak in over a year
U.S. stocks finished a weekly trading stretch, marked by wild swings, on a higher note, shrugging off uncertainty about additional coronavirus stimulus from Washington, rising cases of coronavirus and a stall-out in some components of economic data. Investors still turned to the perceived safety of technology stocks, helping the Nasdaq Composite avoid a fourth consecutive weekly slide, but the S&P 500 and the Dow Jones Industrial Average booked their fourth weekly drop, matching their longest such losing skid since Aug. 23, 2019, FactSet data show. The Dow finished the session up by about 360 points, or 1.3%, at about 27,174, while the S&P 500 closed 1.6% higher at around 3,298, on a preliminary basis. For the week, the Dow booked a 1.8% decline while the S&P 500 lost 0.6% over the five-session stretch. The Nasdaq Composite, however, closed up 2.3% on the session to reach 10,913, on a preliminary basis. That helped the tech-laden benchmark record a 1.1% weekly gain erasing a fall of that magnitude, from which it started Friday trade.

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 MarketPulse
Sep 25, 2020

Friday's stock market rally in final hour of trade helping Nasdaq erase over 1% weekly skid
U.S. stocks on Friday were ending a choppy week on a high note, which was helping the technology-laden Nasdaq Composite Index wipe out a more than 1% weekly drop in the final hour of trading. The Nasdaq Composite Index on Friday afternoon was up 2.4% on the day, which was putting it in position to notch a weekly gain of about 1.2%, an accomplishment for the benchmark which had begun the session in a 1.1% hole. The moves on the day highlight a volatile period for stocks as investors fret about the lack of further stimulus from Washington to help out-of-work Americans during the COVID-19 crisis, viewed as a key pillar to helping equities take another leg higher from the financial and public health crisis that reached a peak for the stock market in March. Rising cases of coronavirus and a looming 2020 presidential election also contributed to the turbulence. The Dow Jones Industrial Average, meanwhile, was up more than 400 points on Friday at 27,227, while the S&P 500 index was up 1.8% at 3,304. Although the Nasdaq looked likely to avoid a fourth straight weekly decline, the S&P 500 was still on track for a weekly declined of 0.5% and the Dow was set for a 1.6% weekly skid, despite the late-session advance.

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 MarketPulse
Sep 25, 2020

SPAC Yellowstone Acquisition files to go public, to raise $200 million
Blank check company Yellowstone Acquisition Co. has filed to go public to raise $200 million. The Nebraska-based special purpose acquisition company (SPAC) said it is offering 20 million units at $10 per unit. Each unit will consist of one share of Class A common stock, and one-half of one warrant; a whole warrant entitles the holder to buy one Class A share for $11.50 each. The Class A shares are expected to list on the Nasdaq under the ticker symbol "YSU." Yellowstone's sponsor is a subsidiary of Boston Omaha Corp. . Wells Fargo Securities is the sole bookrunner. SPACs raise money through an IPO, then place it in a trust while the sponsor searches for a business or businesses to acquire, usually within a two-year period. The companies then complete what is in effect a reverse merger, as the combined company takes on the name of the acquiree. Yellowstone is looking to go public during a big year for SPACs, and a good year for IPOs, with the Renaissance IPO ETF rallying 65.2% year to date while the S&P 500 is gaining 2.3%.

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 MarketPulse
Sep 25, 2020

Oil futures end lower for the week
Oil futures were slightly lower on Friday, posting a loss for the week as some signs of tighter supplies, including a second weekly decline in U.S. crude inventories, failed to offset pressure from expectations of weaker energy demand on the back of the rise in COVID-19 cases. "The oil market is sensitive to the perceived health of the world economy and there were already signs that the rebound was cooling before the recent jump in new cases of coronavirus in Europe," said David Madden, market analyst at CMC Markets UK. Meanwhile, data from Baker Hughes Friday showed that the number of active U.S. oil-drilling rigs climbed by 4 this week to 183, marking the first increase in three weeks. November West Texas Intermediate crude fell 6 cents, or nearly 0.2%, to settle at $40.25 a barrel on the New York Mercantile Exchange. For the week, prices for the most-active contract lost 2.6%, 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.



MarketWatch MarketPulse
Sep 25, 2020

Gold futures lose nearly 5% for the week
Gold futures declined Friday to post a loss of nearly 5% for the week-the largest weekly percentage loss since mid-March. Analysts attributed losses for the precious metal to strength in the U.S. dollar this week. The longer-term outlook remains positive for gold, however, "as the global economic recovery will warrant more stimulus as the Northern Hemisphere battles the winter wave of the virus," said Edward Moya, senior market analyst at Oanda. "Gold will likely attract buyers from here on out as investors start scaling back their bullish bets." December gold fell $10.60, or 0.6%, to settle at $1,866.30 an ounce. For the week, prices based on the most-active contract lost 4.9%, according to FactSet 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.



MarketWatch MarketPulse
Sep 25, 2020

Neiman Marcus emerges from bankruptcy
Luxury retailer Neiman Marcus Holdings Co. Inc. said Friday that it has emerged from bankruptcy, which "full support" of its creditors and new equity shareholder. The new owners include PIMCO, Davison Kempner Capital Management and Sixth Street. They are funding a $750 million exit financing package. "With the successful implementation of our restructuring, Neiman Marcus and Bergdorf Goodman will continue to be the preeminent luxury shopping destinations for years to come," said Neiman Chief Executive Geoffroy van Raemdonck. "While the unprecedented business disruption caused by COVID-19 has presented many challenges, it has also given us the opportunity to reimagine our platform and improve our business." Neiman had filed for bankruptcy in May, and was the first department store chain to succumb to the COVID-19 pandemic. Among others that went bankrupt are J.C. Penney and Lord & Taylor.

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 MarketPulse
Sep 25, 2020

Cruise stocks surge, lead the S&P 500's gainers after Barclays turns bullish
Cruise operator stocks surged Friday, to pace the S&P 500's gainers, after Barclays analysts turned bullish on the group, saying the industry has reached a post-COVID-19 inflection point. Shares of Norwegian Cruise Line Holdings Ltd. shot up 11.5% to be the top S&P 500 gainer, Carnival Corp. was second with an 8.9% rally and Royal Caribbean Group's stock was third with 7.4% gain. Barclays analysts led by Felicia Hendrix raised the the ratings of all three stocks to overweight from equal weight. Hendrix said the industry could get a nice boost within the next few days when the Centers for Disease Control and Prevention (CDC) addresses its order to suspend cruises through Sept. 30. Even if the CDC extends the order, Hendrix said she thinks the worst is behind the sector. "While we see a high likelihood that the CDC will extend the date again (likely into 4Q20), we expect comments from the agency to be positive and potentially signal a near-term return to cruise, which could be a catalyst for the shares," Hendrix wrote in a note to clients. Year to date, shares of Norwegian have plunged 72.1%, Carnival have tumbled 70.6% and Royal have dropped 51.8%, while the S&P 500 has gained 1.3%.

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 MarketPulse
Sep 25, 2020

Timber, materials ETFs higher on paper demand
Paper and packaging stocks jumped Friday, buoying exchange-traded funds that focus on timber and materials. WestRock Company gained nearly 7% midday, making it one of the biggest movers in the S&P 500 , with International Paper Company , up 5%, and Packaging Corporation of America , up 4.1%, not far behind. The Invesco MSCI Global Timber ETF gained more than 1% midday, while the iShares Global Timber & Forestry ETF was up 0.5%. The broad sector ETF that covers the industry, the SPDR Select Materials fund is the best performer of the 11 sector SPDRs over the past month, as investors have rotated away from pricey tech and consumer names toward stocks that are better value, and which stand to benefit from the new business cycle.

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 MarketPulse
Sep 25, 2020

Graybug Vision's stock open up 19%, then pares some gains
Graybug Vision Inc.'s stock started its public life with a rally, as it opened 18.8% above its initial public offering price. The first trade was at $19.00 at 12:15 p.m. Eastern for 293,572 shares, above the upsized IPO price of $16 a share. At the IPO price, the California-based biopharmaceutical company raised $90 million and was valued at $306.5 million. The stock has pared some gains since it opened, to be trading 7.5% above its IPO price. The company went public at a time that the Renaissance IPO ETF has rallied 63.0% year to date, while the S&P 500 has edged up 1.1%.

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 MarketPulse
Sep 25, 2020

PMV Pharmaceutical's stock nearly doubles in its debut
PMV Pharmaceuticals Inc.'s stock debuted with a bang Friday, as the the stock opened at nearly double the initial public offering price. The first trade was at $35.00 at 12:09 p.m. Eastern for 346,817 shares, or 94.4% above the IPO price of $18 a share. The New Jersey-based oncology company raised $211.8 million in the IPO, and was valued at $774 million at the IPO price. The stock has mostly held its gains since the open, to be trading 93.6% above its IPO price The company went public at a time that the Renaissance IPO ETF has rallied 23.3% over the past three months, while the S&P 500 has gained 5.8%.

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.



MarketWatch MarketPulse
Sep 25, 2020

J&J: most Phase 1/2a participants in COVID-19 vaccine developed neutralizing antibodies
Shares of Johnson & Johnson were up 0.1% in trading on Friday after data from the Phase 1/2a clinical trial for its COVID-19 vaccine candidate was published as a preprint. A preprint is not a peer-reviewed study, long considered the gold standard in medical research; however, some drugmakers developing vaccines and treatments are publishing clinical-trial findings on preprint servers during the coronavirus pandemic. The study evaluated a one-dose and two-dose regimen in two cohorts of participants: healthy adults between the ages of 18 and 55 years old and those between the ages of 65 and 75 years old. Interim results reported by J&J in the preprint indicate that 99% of the adult participants who received the vaccine developed neutralizing antibody titers, and all of the 65-and-older participants did, as well. Both groups had binding and neutralizing antibody levels that were in "the same range" as people who have recovered from COVID-19 infections. "Based on similar immunogenicity of both dose levels, we have selected the lower dose for further clinical evaluation," the researchers said. Earlier this week J&J had announced that it had initiated a Phase 3 trial in the U.S. utilizing a single dose. J&J's stock is 0.7% so far this year, while the S&P 500 is up 0.5%.

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 MarketPulse
Sep 25, 2020

Amesite's stock opens below IPO price, than rallies above it
Amesite Inc.'s stock stumbled out of the gate, as it opened 1% below its initial public offering price, but then righted itself to trade higher. The first trade was at $4.95 at 11:39 a.m. Eastern for 162,143 shares, below the IPO price of $5. The stock was last trading 10% above its IPO price. The company's IPO priced at the midpoint of the expected range of $4.50 to $5.50. The company sold 3 million shares to raise $15 million. With 20.4 million shares outstanding after the IPO, the artificial-intelligence driven platform and course designer was valued at $102.1 million. Laidlaw & Co. was the sole book-running manager. The company went public at a time that the Renaissance IPO ETF has rallied 23.5% over the past three months, while the S&P 500 has gained 5.6%.

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 MarketPulse
Sep 25, 2020

Honeywell raises dividend by 3.3%, starting with its fourth-quarter payout
Honeywell International Inc. said Friday it was raising its annual dividend by 3.3%, to $3.72 a share from $3.60. The new dividend rate will be effective in the fourth quarter, when it a quarterly dividend of 93 cents will be payable on Dec. 4 to shareholders of record on Dec. 13. Based on the software industrial company's current stock price -- it is up 0.4% at $159.42 in midday trading -- the new annual dividend rate implies a dividend yield of 2.33%, which compares with the implied yield for the S&P 500 of 1.73%. "Honeywell remains focused on providing value to our shareowners despite the current challenging economic environment, and today we announced an increase to our dividend for the 11th consecutive year," said Chief Executive Darius Adamczyk. The stock has rallied 11.9% over the past three months, while the Dow Jones Industrial Average has gained 4.6%.

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 MarketPulse
Sep 25, 2020

Stocks open mostly lower on rising case counts, stimulus stalemate
U.S. stocks opened mostly lower Friday morning as investors hunted for a positive catalyst amid an array of headwinds. The Dow Jones Industrial Average lost about 135 points or 0.5% to open near 26,680, while the S&P 500 slipped 10 points, 0.3%, opening near 3,237. The Nasdaq Composite was about 10 points higher, near 10,680, a gain of 0.1%. Stock benchmarks are on track to mark a fourth straight week of losses as concerns grow over the U.S. election, the lack of additional stimulus to support the economy, and rising COVID-19 case counts around the globe. Orders for durable goods rose 0.4% in August, the Commerce Department said Friday, signaling slowing momentum in the economy. Shares of NVIDIA Corporation rose in early trade after a price-target increase. The chipmaker is the S&P 500 component that's gained the most in the year to date - 110%.

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 MarketPulse
Sep 25, 2020

Hawaiian Airlines to offer travelers drive-through COVID-19 testing in LA, San Francisco
Hawaiian Airlines parent Hawaiian Holdings Inc. said Friday that it will offer travelers from some U.S. mainland cities drive-through COVID-19 tests, so those how test negative can be exempt from Hawaii's 14-day quarantine requirement. The air carrier said the tests will be available near the international airports in Los Angeles and San Francisco. For results within 36 hours, the tests will cost $90 and will cost $150 for "day-of-travel" express service. "As Hawai'i's leading airline, it is critical to ensure that access to testing does not impede travel to Hawai'i, for visitors or our kama' ina (residents)," said Avi Mannis, senior vice president of marketing at Hawaiian. The stock, which rose 3.8% in premarket trading, has tumbled 57.7% year to date through Thursday, while the U.S. Global Jets ETF has shed 47.4% and the S&P 500 has edged up 0.5%.

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 MarketPulse
Sep 25, 2020

Spirit AeroSystems terminates Asco acquisition deal, more than 2 years after it was announced
Spirit AeroSystems Holdings Inc. disclosed Friday that ihas reached an agreement to terminate the deal to buy Asco Industries N.V. parent, S.R.I.F. NV. The termination comes after Spirit said earlier this week that the deal may be terminated because conditions of the deal had not been satisfied. The deal was first announced in May 2018 for $650 million, then the purchase price was lowered to $420 million in October 2019. Spirit's stock, which rose 1.1% in premarket trading Friday, has plunged 74.8% year to date through Thursday, while the S&P 500 has gained 0.5%.

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 MarketPulse
Sep 25, 2020

Sunworks stock pulls back, after disclosing delisting notice received just before the recent rally
Sunworks Inc. stock's recent rocket ride higher came at a good time for the photovoltaic-based power systems company. The stock tumbled 18.6% in premarket trading Friday, after the company disclosed that on Sept. 22, it has received a delisting notice from the Nasdaq, because it has failed to comply with the minimum bid price requirement, which states companies must maintain a minimum closing bid price for its stock of at least $1 a share. "The company is monitoring the bid price of its common stock and will consider options available to it to achieve compliance," Sunworks said in a statement. But after the stock closed at 77 cents on Sept. 22, it soared 50.4% on Wednesday to $1.16 and 238.8% on Thursday to close at $3.93. The rally came after the shares of SPI Energy Co. Ltd. , which also operates in the photovoltaic market, blasted 1,236.5% higher on Wednesday after the company announced it was starting an electric-vehicle subsidiary. Sunworks shares have more than tripled (up 214.4%) year to date through Thursday, while the S&P 500 has inched up 0.5%.

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 MarketPulse
Sep 25, 2020

Zillow raises home price growth outlook even as sales are set to 'gradually decline'
Zillow Group Inc. raised on Friday its outlook for home price growth over the next year, as sales and prices have stayed strong through the summer given increasingly short inventory and continued strong demand. The online real estate services company said it expects adjusted home prices to increase 1.2% from August to November. From August 2020 to August 2021, Zillow now expects adjusted home prices to rise 4.8%, up from a previous forecast of a 3.8% increase. The raised price outlook comes despite expectations for adjusted home sales to peak this fall and "gradually decline" through 2021, although sales volumes overall are expected to remain above pre-pandemic levels throughout this year and next. Zillow's Class C shares, which were little changed in premarket trading, have more than doubled (up 112.9%) year to date, while the S&P 500 has inched up 0.5%.

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 MarketPulse
Sep 25, 2020

Unity Software coverage on Wall Street started with a bullish call, $100 price target
D.A. Davidson analyst Franco Granda kicked off Wall Street coverage of Unity Software Inc. will a bullish rating, and a price target that was nearly double the initial public offering price. The videogame software company went public on Sept. 18, with the stock closing that day at $68.35, or 31.4% above its IPO price of $52; the stock closed Thursday at $83.20. Garda initiated Unity with a buy rating and $100 stock price target, saying he believes "this growth story has legs," as he expects a "meaningful revenue ramp" in the years ahead. " We like Unity for four reasons: exposure to the entire gaming market; significant growth opportunities in applications beyond gaming; a hybrid revenue model with plenty of upside; and potential beneficiary of the Epic Games vs. Apple feud (call option)," Granda wrote in a note to clients. He's the only analyst covering the stock that is followed by FactSet. Unity's stock fell 1.9% in premarket trading, after rising 21.7% over the past four days, while the S&P 500 has lost 2.2% over the same time.

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 MarketPulse
Sep 25, 2020

Novavax stock rises as it announces vaccine manufacturing deal with Endo
Shares of Novavax Inc. jumped 6.8% in premarket trading on Friday after the company announced a COVID-19 vaccine manufacturing deal with Endo International . Endo's stock is up 7.3%. One of Endo's subsidiaries will provide fill-finish manufacturing services at a factory in Rochester, Mich.; the product being produced is expected to be used in the company's Phase 3 trials for NVX-CoV2373 in the U.S. as well as for potential general distribution to the public if the vaccine candidate receives any type of regulatory approval or authorization. Novavax CEO Stanley Erck said in the news release that the company is preparing for its pivotal Phase 3 clinical trial in the U.S. "to get underway very soon." On Thursday Novavax had announced that its vaccine candidate had entered Phase 3 clinical trials in the U.K. So far this year Novavax's stock is up 2,473.9%, shares of Endo are down 35.6%, and the S&P 500 is up 0.5%.

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 MarketPulse
Sep 25, 2020

Goldman's currency analysts say market is fearing Election Night uncertainty too much
Goldman Sachs currency analysts say the market is fearing uncertainty over the U.S. election too much. "We think the market appears to be pricing too high of a probability that it will take a long time to sort out the winner. We agree this is certainly a tail risk, but a number of states-including some key Battlegrounds-allow votes to be processed and counted well before Election Day. Taken together with cross-state correlation on many sources of polling errors, it seems likely that markets will have enough information on Election Night or soon thereafter to gauge the likely winner, even if the race takes longer to be officially called," said analysts Michael Cahill and Alec Phillips.

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 MarketPulse
Sep 25, 2020

Coronavirus tally: U.S. case tally jumps to over 45,000 in a day as deaths rise by nearly 900
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 32.26 million as of Friday morning, according to data aggregated by Johns Hopkins University, while the death toll rose to 983,417. The U.S. was the world's leader with 6.98 million cases and 202,819 deaths. There were at least 885 new deaths in the U.S. on Thursday, up from 1,091 the day before, while new cases reported increased to 45,176 from 41,481, according to New York Times data. The new case tally compares with the daily average 41,859 over the past week, which is up 17% from the average two weeks earlier. Brazil has the second highest death toll in the world at 139,808 and third highest case tally at 4.66 million, JHU data show. India is third with 92,290 deaths and second with 5.82 million cases. Mexico is fourth with 75,439 deaths and seventh with 715,457 cases. The U.K. has 41,991 deaths and 418,889 cases, the highest death toll in Europe and fifth-highest in the world.

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 MarketPulse
Sep 25, 2020

VIA Optronics prices IPO at low end of expectations, raises $93.8 million
VIA Optronics AG's initial public offering priced at $15 per American depositary share, which was at the low end of the expected range of $15 to $17 per ADS. The Germany-based provider of interactive displays said late early Friday that it sold 6.25 million ADS in the IPO to raise $93.8 million. With 7.57 million ADS outstanding after the IPO, the pricing valued that company at $113.5 million. Berenberg was the sole book-running manager. The stock is expected to begin trading Friday on the NYSE under the ticker symbol "VIAO." The company is going public at a time that the Renaissance IPO ETF has rallied 58.7% year to date, while the S&P 500 has gained 0.5%.

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 MarketPulse
Sep 25, 2020

Graybug Vision prices upsized IPO at midpoint of expected range, raises $90 million
Graybug Vision Inc. said early Friday that its upsized initial public offering priced at $16 a share, in the middle of the expected range of $15 to $17 a share. The California-based biopharmaceutical company focused on retina and optic never disease treatments sold 5.625 million shares in the IPO, up from previous expectations of 4.79 million shares, to raise $90 million. With 19.16 million shares outstanding, the IPO pricing values that company at $306.5 million. The stock is expected to begin trading Friday on the Nasdaq under the ticker symbol "GRAY." SVB Leerink and Piper Sandler are acting as joint book-running managers. The company is going public at a time that the Renaissance IPO ETF has gained 20.1% over the past three months while the S&P 500 has edged up 5.3%

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 MarketPulse
Sep 25, 2020

PMV Pharmaceuticals prices IPO at top end of expectations, raises $211.8 million
PMV Pharmaceuticals Inc.'s initial public offering priced at $18 a share, which was at the top of the expected range of $16 to $18 a share. The oncology company said late Thursday that it sold 11.765 million shares in the IPO, which was recently upsized from 7.35 million shares, to raise $211.8 million. With 43 million shares outstanding after the IPO, the pricing valued that company at $773.99 million. Goldman Sachs, BofA Securities, Cowen and Evercore are the joint book-running managers. The stock is expected to begin trading Friday on the Nasdaq under the ticker symbol "PMVP." The company is going public at a time that the Renaissance IPO ETF has rallied 20.1% over the past three months, while the S&P 500 has gained 5.3%.

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 MarketPulse
Sep 25, 2020

Johnson Outdoors raises dividend by 23.5%
Johnson Outdoors Inc. said Friday that it is raising its quarterly dividend on its Class A shares by 23.5%, to 21 cents a share from 17 cents. The outdoor recreation products seller said the new dividend will be payable Oct. 23 to shareholders of record on Oct. 9. Based on Thursday's stock closing price of $80.36, the new annual dividend rate implies a dividend yield of 1.05%, compared with the implied yield for the S&P 500 of 1.74%. The stock, which is still inactive in premarket trading, has gained 4.8% year to date, while the S&P 500 has edged up 0.5%.

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 MarketPulse
Sep 24, 2020

SEC fines BMW, U.S. subsidiaries for 'misleading' bond investors
The Securities and Exchange Commission has slapped Germany's BMW AG and two of the company's U.S. subsidiaries with a $18 million penalty for allegedly fudging U.S. sales numbers to mislead bond investors. The SEC said late Thursday it has settled charges against the auto maker for disclosing "inaccurate and misleading information" about retail sales volume in the U.S. while raising about $18 billion from investors in several corporate bond offerings. BMW "inflated" its U.S. retail sales from 2015 to 2019, helping to close the gap between actual retail sales volume and internal targets "and publicly maintain a leading retail sales position relative to other premium automotive companies," the SEC alleged. BMW of North America LLC kept a reserve of unreported retail vehicle sales it internally referred to as the "bank," the SEC said in a press release. That was used to meet internal monthly sales targets "without regard to when the underlying sales occurred," the SEC said. BMW North America also paid dealers to designate vehicles as test-driving vehicles or loaners so that the company could count them as having been sold to customers. Additionally, BMW North America "improperly" adjusted its retail sales reporting in 2015 and in 2017 to meet internal sales targets or bank excess retail sales for future use, the SEC said. As a result, the information that the company provided to investors looking at bond offerings through a BMW U.S. financing subsidiary as well as to credit ratings agencies "contained material misstatements and omissions regarding BMW's U.S. retail vehicle sales," the SEC said. BWM cooperated with the investigation, which was taken into consideration in imposing the penalty, the SEC said. The three companies agreed to pay a joint penalty of $18 million and "to cease and desist from future violations of these provisions," the SEC said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.

MarketWatch MarketPulse
Sep 24, 2020

Colony Capital stock jumps after company agrees to sell hotel assets for $2.8 billion
Shares of Colony Capital Inc. rose nearly 20% in the extended session Thursday after the real-estate investment firm said it has agreed to sell six of its hospitality portfolios to Highgate, a real-estate investment and hospitality management company. The deal is valued at $2.8 billion, including $67.5 million of gross proceeds and the assumption of $2.7 billion in debt. The six portfolios consist of 22,676 rooms across 197 hotel properties, Colony said. Colony is aiming "to focus exclusively on digital infrastructure assets," it said. "We are thrilled to be delivering on our commitment to dispose of non-core assets and harvest positive value for our hospitality business," Chief Executive Marc Ganzi said in a statement. "The sale of our legacy hospitality assets is a significant milestone in Colony's digital transformation as we pivot to focus exclusively on our fast-growing digital businesses that generate superior returns for Colony shareholders." The deal is expected to close in the first quarter of 2021. Shares of Colony ended the regular trading day down 1.3%.

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 MarketPulse
Sep 24, 2020

: Vail Resorts stock falls on wider-than-expected loss
Vail Resorts Inc. MTN shares declined in the extended session Thursday after the ski resort operator reported a wider-than-expected loss. Vail shares fell as much as 6% after hours, following a 1.9% decline in the regular session to close at $224.23. The company reported a fiscal fourth-quarter loss of $153.6 million, or $3.82 a share, compared with $89.5 million, or $2.22 a share, in the year-ago period. Revenue fell to $77.2 million from $244 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of $3.47 a share on revenue of $138.3 million. "Given the uncertainty across the economy and the challenge COVID-19 has created for travel demand and specifically our assessment of the ultimate visitation to our resorts with evolving demand and capacity dynamics, the company will not be providing full year guidance for fiscal 2021 at this time," said Rob Katz, Vail chief executive, in a statement.

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 MarketPulse
Sep 24, 2020

Dow trades in nearly 560-point range before eking out slight gain in choppy Thursday action
U.S. stocks traded on an unsteadily Thursday, with the major benchmarks swinging from solid gains to losses within minutes, at times, reflectin signs of softening economic data and a raft of uncertainties ahead, including a lack of additional economic stimulus and expected volatility from the 2020 presidential election. The Dow Jones Industrial Average closed up by about 52 points, or 0.2%, at 26,815, but not before trading within a 560-point range on the day. The Dow was down 226.12 points at the day's nadir and 331.72 at the session high. The S&P 500 index finished up 0.3% at 3,246, but momentarily traded beneath its correction level--defined as a drop of at least 10% from recent peak--at 3,222.76. Gains were aided by a rise in consumer staples and utilities , considered safety plays during times of uncertainty. The Nasdaq Composite Index advanced 0.4% to finish around 10,672, after touching a high at 10,799, and a low at 10,520. Investors parsed a report that House Democrats were putting together another coronavirus stimulus plan that would come in at $2.4 trillion, with a possible vote on the legislation, which would include unemployment benefits, direct payments, small business loans and airline aid, as soon as next week, CNBC reported. Meanwhile, weekly labor figures showed that some aspects of the coronavirus recovery are stalling out. Jobless claims rose 4,000 to 870,000, the Labor Department said Thursday, reflecting that slightly more Americans applied for state unemployment benefits in the week ended Sept. 19 than in the prior week. Economists surveyed by MarketWatch had been looking for claims to decline to 850,000.

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 MarketPulse
Sep 24, 2020

House Democrats prepare new $2.4 trillion coronavirus aid bill
House Democratic lawmakers are preparing a new $2.4 trillion coronavirus aid package, according to multiple published reports on Thursday. The measure would have a lower price tag than the $3.4 trillion relief package that the Democratic-run House passed in May, and it comes as analysts have predicted that a divided Washington won't deliver another aid bill before the Nov. 3 elections.

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 MarketPulse
Sep 24, 2020

Tesla's stock bounces sharply after brief early dip below key technical level
Shares of Tesla Inc. surging 3.2% in afternoon trading to $392.54, as they bounced sharply following a brief intraday dip below a key technical level. The stock was down as much as 7.6% to its intraday low of $351.30, which was hit soon after the open, before recovering. At the intraday low, the stock traded below the 50-day moving average, which currently extends to $364.18, for the first time since April 13. By 9:47 a.m. Eastern, the stock had climbed back above the 50-day, according to FactSet data, and hasn't been back there since. From the intraday low, the stock has now bounced 12%. The stock had previously come as close as 25 cents to the 50-day moving average without falling below it on Sept. 8, when it hit an intraday low of $329.88 versus a 50-day at the time of $329.63. Many technicians on Wall Street use the 50-day moving average line has a guide to the intermediate-term trend, so they suggest a stock's outlook remains positive as long as it holds above that line. Tesla's stock has now run up 369% year to date, while the S&P 500 has ticked up 0.6%.

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 MarketPulse
Sep 24, 2020

Oil futures log third straight session climb; natural-gas prices up nearly 6%
Oil futures rose on Thursday to tally a third straight session gain, finding support from signs of tighter crude supplies, even as concerns that rising cases of COVID-19 will lead to weaker energy demand remained. Natural-gas futures, meanwhile, stretched their rally to a second session, tacking on nearly 6%, with forecast for colder weather boosting demand prospects for the fuel. November West Texas Intermediate crude climbed 38 cents, or nearly 1%, to settle at $40.31 a barrel on the New York Mercantile Exchange. October natural gas settled at $2.248 per million British thermal units, up 12 cents, or 5.8%.

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.



MarketWatch MarketPulse
Sep 24, 2020

Gold miner ETFs bounce higher as bullion notches its first daily gain in four days
Gold miner exchange-traded funds surged Thursday as the yellow metal price rose and the dollar softened further. The iShares MSCI Global Gold Miners ETF was up 2.6% at midday, while the VanEck Vectors Gold Miners ETF jumped more than 3%. The Sprott Gold Miners ETF jumped 3.4%. December gold rose 0.3% to settle at $1,874.30 an ounce Thursday, notching its first gain in four sessions. The gold price has dropped about 10% from its early August peak of $2,069.40. Miner stocks tend to move more dramatically than the price of the underlying metal.

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 MarketPulse
Sep 24, 2020

Senate panel wants CEOs of Facebook, Google, Twitter to testify Oct. 1: report
The Republican-led Senate Commerce Committee plans to subpoena the CEOs of Facebook , Alphabet's Google and Twitter to testify at an Oct. 1 hearing if the three execs don't agree by Thursday night to requests to appear, according to a Politico report citing an internal committee email. The hearing is expected to cover Big Tech's liability protections. The news comes as the Trump administration pushes for curbs to longstanding legal protections for internet companies that would force them to shoulder more responsibility for managing content on their sites.

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 MarketPulse
Sep 24, 2020

PMV Pharma upsizes IPO by 60%, to now raise up to $211.8 million
PMV Pharmaceuticals Inc. has upsized its initial public offering by 60%, as the oncology company now looks to raise up to $211.8 million. The company is now offering 11.765 million shares in the IPO, up from 7.350 million, while the IPO's expected pricing range remains at between $16 and $18 a share. If the underwriters of the offering exercise options to buy up to an additional 1.76 million shares to cover overallotments, the company could raise up to $243.5 million. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 60.7% year to date, while the S&P 500 has gained 1.4%.

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 MarketPulse
Sep 24, 2020

Gold futures score first gain in 4 sessions
Gold futures climbed Thursday to post their first gain in four sessions. Analysts attributed the rise to a bounce back in the wake of oversold conditions as the U.S. dollar weakened a bit for the session. Gold prices, however, remained sharply lower week to date as overall strength in the dollar, with the ICE U.S. Dollar Index up 1.5% for the week, dulling the appeal for the dollar-denominated precious metal. December gold tacked on $8.50, or nearly 0.5%, to settle at $1,876.90 an ounce.

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 MarketPulse
Sep 24, 2020

Immunome sets IPO terms, to raise up to $32.5 million
Immunome Inc. set terms for its initial public offering, in which the Pennsylvania-based biopharmaceutical company focused on oncology looks to raise up to $32.5 million. The company is offering 2.5 million shares in the IPO, which is expected to price between $11 and $13 a share. With 9.3 million shares outstanding after the IPO, the pricing values the company at up to $120.7 million. The stock is expected to list on the Nasdaq under the ticker symbol "IMNM." The book-running managers are Ladenburg Thalmann and Chardan. For the six months ended June 30, the company recorded a net loss of $5.4 million on no revenue, after a loss of $4.8 million on no revenue in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF IPO has rallied 23.2% over the past three months, while the iShares Nasdaq Biotechnology ETF has declined 3.7% and the S&P 500 has gained 7.5%.

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 MarketPulse
Sep 24, 2020

White House spokeswoman says Trump 'will accept the results of a free and fair election'
White House Press Secretary Kayleigh McEnany on Thursday addressed President Donald Trump's refusal on Wednesday to commit to a peaceful transition of power in the event of his defeat in the Nov. 3 election. "The president will accept the results of a free and fair election," she said during a news conference. "He will accept the will of the American people."

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 MarketPulse
Sep 24, 2020

Blue Cross Blue Shield insurers reach $2.7 billion settlement deal of antitrust suit--WSJ
Blue Cross Blue Shield has reached a tentative agreement, which would require the insurance group to pay $2.7 billion, to settle an antitrust suit filed on behalf of its customers, according to a report in The Wall Street Journal. Citing people with knowledge of the matter, the agreement would also require the insurance group to curtail practices that allegedly limited competition among its three dozen member companies, the WSJ report said. Although the Blue Cross Blue Shied Association has signed off on settlement deal, it has not yet been approved by the boards of all 36 Blue Cross Blue Shield insurers, the report 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.



MarketWatch MarketPulse
Sep 24, 2020

Gap gives each of its core brands its own loyalty program
Gap Inc. said Thursday that it has revamped its Bright Rewards loyalty program ahead of the holiday season in order to give each brand its own members. Gap Good Rewards will serve shoppers at the namesake label; Navyist Rewards will be for Old Navy fans; Banana Republic Rewards and Athleta Rewards are live now for enrollment in stores or online. Bright Rewards members, which total 9.5 million, have been moved to the program at the store in which they originally signed up. Members get two points for every $1 they spend. New members will get 250 points for enrolling through Oct. 31. Gap stock is down 6.4% for the year to date while the S&P 500 index is up 1% for the period.

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 MarketPulse
Sep 24, 2020

Pulmonx sets terms for IPO, which value med-tech company at more than $490 million
Pulmonx Corp. set terms for its initial public offering, in which the California-based medical technology company that provides treatment for emphysema looks to raise up to $106.7 million. The company is offering 6.67 million shares in the IPO, which is expected to price between $14 and $16 a share. With 30.72 shares outstanding after the IPO, the pricing values the company at up to $491.5 million. The stock is expected to list on the Nasdaq under the ticker symbol "LUNG." The lead underwriters are BofA Securities and Morgan Stanley. For the six months ended June 30, the company recorded a net loss of $19.1 million on revenue of $12.3 million, after a loss of $11.7 million on revenue of $13.1 million in the same period a year ago. Pulmonx is looking to go public at a time that the Renaissance IPO ETF has rallied 22.9% over the past three months, while the S&P 500 has gained 7.0%.

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 MarketPulse
Sep 24, 2020

Owens & Minor's stock soars to pace NYSE gainers after boosting profit outlook, again
Shares of Owens & Minor Inc. shot up 57.4% on heavy volume in midday trading Thursday, enough to pace all of the NYSE's gainers, after the maker of medical surgical products raised its full-year profit outlook for the second time in two months, citing better-than-expected manufacturing output. Trading volume swelled to 11.7 million shares, compared with the full-day average of about 1.1 million shares. The stock was on track for the highest close since January 2018, and the biggest one-day gain since it rocketed 81.4% on July 27, when it more than doubled its 2020 earnings outlook. The company said earlier Thursday that it now expects 2020 adjusted earnings per share of $1.75 to $1.90, up from previous guidance of $1.00 to $1.20. Besides better-than-expected manufacturing output, the company said deployment of personal protective equipment (PPE) was ahead of schedule, elective procedure volume was slightly above previously expected levels and demand for PPE continued to be strong. The stock has rocketed more than fourfold (up 319.9%) year to date, while the SPDR Health Care Select Services ETF has slipped 0.3% and the S&P 500 has tacked on 0.9%.

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.



TRENDING TAGS
DebatePresidential Trump Biden Futures Election
stocksdebate making biggest moves Buy
Trumpdebate Biden tax Trump-Biden Presidential
Coronaviruslatest million Futures Debate Dow
StockDebate Futures market Presidential Markets
PresidentialDebate Biden Futures Trump Stock
fallFutures debate Dow presidential Stock
BusinessCoronavirus Debate Trump-Biden Insider Dow
FuturesDebate Stock fall Presidential Dow
COVID-19cases million NFL outbreak deaths

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC