Latest News

Asian shares flat as drop in S&P 500 futures weighs

reuters.com - Business News - 2 hours 53 min ago
Asian stocks were flat in early trade on Wednesday after Wall Street ended higher, with the S&P 500 index touching a record high on Tuesday, and as lower-level trade talks between the U.S. and China due this week boost hopes of easing trade tensions.
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Business groups urge Trump, Erdogan to meet as dispute hits investments

reuters.com - Business News - 3 hours 20 min ago
U.S.-Turkey business groups on Tuesday warned that a political dispute between the NATO allies was affecting investor confidence and had forced some firms to suspend investment plans.
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At T. Rowe Price, top Tesla funds offer split views

reuters.com - Business News - 4 hours 8 min ago
With a volatile chief executive and a potential breakthrough product starting production, Tesla Inc is a challenging stock to hold.
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U.S. airline Hawaiian to suspend its Beijing flight from October

reuters.com - Business News - 4 hours 23 min ago
Hawaiian Airlines said on Tuesday that it has decided to suspend its thrice-weekly non-stop flight between Honolulu and Beijing after the National Day Golden Week holiday in October.
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American cuts second U.S.-China flight on fuel cost, rivalry

reuters.com - Business News - 4 hours 54 min ago
American Airlines is cutting a route between Chicago and Shanghai, canceling the second direct flight from the U.S. city to China in four months, because of higher fuel costs and competition, the carrier said on Tuesday.
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S&P 500 touches record high, equals longest-ever bull run

reuters.com - Business News - 4 hours 55 min ago
The benchmark S&P 500 touched a record high on Tuesday and equaled its longest-ever bull-market run, buoyed by strong earnings reports in the consumer sector and relative calm in the trade dispute between the United States and China.
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Few thrills ahead for Trump from a Fed on a mission of its own

reuters.com - Business News - 5 hours 13 min ago
"Not thrilled" may become a regular state of mind for U.S. President Donald Trump in the months ahead, as the Federal Reserve is likely to press on with interest rate rises to recalibrate policy for an economy boosted by the president’s own tax cuts.
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U.S. stock futures open lower after Cohen pleads guilty

reuters.com - Business News - 5 hours 24 min ago
U.S. stock futures opened lower late on Tuesday after U.S. President Donald Trump's former personal lawyer Michael Cohen pleaded guilty to campaign finance violations and other charges.
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Trump economic adviser Larry Kudlow hosted publisher of white nationalists: report

MarketWatch.com - MarketPulse - 5 hours 27 min ago

Larry Kudlow, President Donald Trump's top economic adviser, hosted the publisher of a website that features white nationalist content at his Connecticut home last weekend, the Washington Post reported Tuesday. Peter Brimelow attended Kudlow's birthday party a day after a White House speechwriter was fired after it was discovered he had spoken alongside Brimelow at a 2016 conference attended by white nationalists, the Post reported. Brimelow, a former conservative columnist for Dow Jones, founded the anti-immigration website Vdare.com in 1999, which he has acknowledged publishes white-nationalist writers, the Post said. Kudlow told the Post that they have been friends for years and he was unaware of Brimelow's white-nationalist ties.

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Urban Outfitters stock gains after company earnings, sales growth

MarketWatch.com - MarketPulse - 6 hours 7 min ago

Shares of Urban Outfitters Inc. rose more than 5% in the late session Tuesday after the retailer reported earnings and sales above Wall Street expectations thanks to double-digit sales growth and fewer markdowns. Urban Outfitters said it earned $93 million, or 84 cents a share, in the quarter, compared with $50 million, or 44 cents a share, in the year-ago period. Sales rose 14% to a record $992 million, the company said. Analysts polled by FactSet had expected earnings of 77 cents a share on sales of $981 million. Comparable retail-segment net sales increased 13%, thanks to "strong, double-digit growth" in the digital sales and "positive" retail store sales, Urban Outfitters said. The stock ended the regular session up 0.5%.

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Zynga to partner with Disney for new 'Star Wars' mobile game

MarketWatch.com - MarketPulse - 6 hours 8 min ago

Zynga Inc. has signed a deal with Walt Disney Co. to develop and publish a new "Star Wars" mobile game, the company said late Tuesday. Zynga stock rose as much as 6% in the extended session; Disney stock was flat. The terms of the deal include an option for Zynga to produce another "Star Wars" title and assume the operation of the live service of "Star Wars: Commander," a free-to-play game launched in 2014. Zynga's NaturalMotion studio will run "Star Wars: commander" and develop the new mobile game, the company said. Zynga shares closed flat at $3.74 during regular trading, as the S&P 500 index gained 0.2%.

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United Airlines sees deal soon on Latin American joint ventures

reuters.com - Business News - 6 hours 17 min ago
United Continental Holdings Inc is eying joint ventures with three Latin American carriers in the near future, but a deal would not immunize the U.S. airline from the "ups and downs" of the region's volatile market, President Scott Kirby said on Tuesday.
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Stock market ETFs fall in after-hours trade as ex-Trump attorney implies he violated campaign law at behest of Trump

MarketWatch.com - MarketPulse - 6 hours 18 min ago

Popular exchange traded funds on Tuesday traded lower in after-hours action, following a series of stunning legal developments related to President Donald Trump's 2016 campaign. Former Trump campaign chairman Paul Manafort was found guilty on eight charges, including tax fraud, and the president's ex-personal attorney, Michael Cohen, said he violated campaign law at the direction of a candidate for federal office. The news comes as special counsel Robert Mueller is investigating allegations of collusion between officials connected to president Trump's 2016 president election and Russia. The ETF SPDR S&P 500 ETF , which tracks the S&P 500 index and the SPDR Dow Jones Industrial Average, which tracks the Dow Jones Industrial Average were both down 0.3% in after-hours trading, following a solid gains for all three benchmarks on Tuesday, where the S&P 500 touched an intraday record and the Nasdaq Composite Index led the benchmark's in to the green. The news may create some uncertainty on Wall Street about what happens next after officials closely tied to the Trump campaign have pleaded guilty.

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Keysight Tech's stock rallies as earnings, outlook top Street view

MarketWatch.com - MarketPulse - 6 hours 27 min ago

Keysight Technologies Inc. shares rallied in the extended session Tuesday after the maker of electronic measurement instruments topped Wall Street estimates for its quarterly results and outlook. Keysight shares surged 12% after hours, following a 0.4% gain to close the regular session at $60.44. The company reported fiscal third-quarter net income of $121 million, or 63 cents a share, compared with a loss of $18 million, or 10 cents a share, in the year-ago period. Adjusted earnings were 89 cents a share. Revenue rose to $1 billion from $832 million in the year-ago period. Analysts surveyed by FactSet had estimated 79 cents a share on revenue of $962.4 million. Keysight had estimated adjusted earnings of 72 cents to 82 cents a share on revenue of $942 million to $972 million. For the fourth quarter, Keysight estimates adjusted earnings of 85 cents to 91 cents a share on adjusted revenue of $1 billion to $1.02 billion. Analysts expect earnings of 85 cents a share on revenue of $988.3 million. At the close, Keysight shares were up 45% for the year, compared with a 7.1% gain on the S&P 500 index .

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API data reportedly show a sizable weekly decline in U.S. crude supplies

MarketWatch.com - MarketPulse - Tue, 2018-08-21 23:44

The American Petroleum Institute reported Tuesday that U.S. crude supplies fell by 5.2 million barrels for the week ended Aug. 17, according to sources. The API data also showed supplies of gasoline down 930,000 barrels, while distillate stockpiles rose 1.8 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday. Analysts polled by S&P Global Platts expect the EIA to report a fall of about 3.4 million barrels in crude supplies. They also forecast a supply decline of 400,000 barrels for gasoline and an increase of 2 million barrels for distillates. October crude , the new front-month futures contract, was at $66.05 a barrel in electronic trading, up from the contract's $65.84 settlement on the New York Mercantile Exchange.

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Former Trump campaign manager Paul Manafort found guilty on 8 charges

MarketWatch.com - MarketPulse - Tue, 2018-08-21 23:42

Former Trump campaign chairman Paul Manafort was found guilty on 8 counts, including five on tax fraud, but the jury could not reach a verdict on another 10 counts against him. One charge was on hiding foreign bank accounts and another two on bank fraud. The judge in the case declared a mistrial on those 10 counts where the jury couldn't reach a verdict.

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Trump administration imposes duties on pipes from Canada, China

MarketWatch.com - MarketPulse - Tue, 2018-08-21 23:37

The U.S. Commerce Department said Tuesday it will order duties on large diameter welded pipe from Canada, China, Greece, India, Korea, and Turkey. Those countries have sold that pipe at less than fair value in the U.S., the agency said in a statement. In the China case, Commerce assigned a preliminary rate of 133%.

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Pure Storage shares rally on surprise profit

MarketWatch.com - MarketPulse - Tue, 2018-08-21 23:37

Pure Storage Inc. shares rallied in the extended session Tuesday after the flash-based data storage company posted an unexpected adjusted profit for the quarter. Pure Storage shares surged 8.4% after hours, following a 1% gain to close the regular session at $22.01. The company reported a second-quarter loss of $60.1 million, or 26 cents a share, compared with a loss of $58.4 million, or 28 cents a share, in the year-ago period. Adjusted earnings were a penny a share. Revenue rose to $308.9 million from $224.7 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of 6 cents a share on revenue of $301.3 million. Pure Storage estimates revenue of $361 million to $369 million for the third quarter, and $1.35 billion to $1.38 billion for the year. Analysts expect revenue of $363 million for the third quarter, and $1.36 billion for the year. Pure Storage also announced it acquired privately-held, Sunnyvale, Calif.-based data-management software company StorReduce for an undisclosed amount.

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La-Z-Boy stock soars after company tops views

MarketWatch.com - MarketPulse - Tue, 2018-08-21 23:33

Shares of La-Z-Boy Inc. rallied more than 19% in the extended session Tuesday after the furniture maker reported fiscal 2019 first-quarter earnings and sales well above expectations. La-Z-Boy said it earned $18 million, or 39 cents a share, in the quarter, compared with $48 million, or 24 cents a share, in the year-ago period. Sales rose nearly 8% to $384.7 million, compared with $357.1 million a year ago. Analysts polled by FactSet had expected La-Z-Boy to report earnings of 25 cents a share on sales of $368 million for the quarter. "We are optimistic about the potential for La-Z-Boy Incorporated over the long term, although concerns relating to potential duties and tariffs that could impact the business persist," Chief Executive Kurt L. Darrow said in a statement. "At the same time, our brand is the strongest in the industry, we have a world-class supply chain, a vast distribution network, and we now own a leading online furniture brand that is poised for growth and returns." Shares of La-Z-Boy ended the regular session up 2.2%.

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S&P touches record high, equals longest-ever bull run

reuters.com - Business News - Tue, 2018-08-21 23:28
The benchmark S&P 500 touched a record high on Tuesday and equaled its longest-ever bull-market run, as U.S. stocks rose on earnings reports in the consumer sector and relative calm in the trade dispute between the United States and China.
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