Breaking Stock Market and Financial News

API data show U.S. crude supplies fell 5 million barrels last week: sources

MarketWatch Market Pulse - 58 min 24 sec ago

The American Petroleum Institute late Wednesday reported a drop of 5 million barrels in U.S. crude supplies for the week ended Jan. 13, according to sources. Analysts polled by S&P Global Platts forecast a decline of 900,000 barrels. The API data also showed a jump of 9.8 million barrels in gasoline supplies and a rise of 1.2 million barrels in distillates, sources said. Supply data from the Energy Information Administration will be released Thursday morning, a day later than usual because of the Martin Luther King Jr. holiday. February crude was at $51.38 a barrel in electronic trading, up fromthe contract’s settlement of $51.08 on the New York Mercantile Exchange.

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BRIEF-Bega Cheese to buy most of Mondelz International's Aussie, NZ grocery cheese business

Reuters Us Markets - 58 min 32 sec ago
* Bega Cheese to acquire one of Australia's most iconic food brands-bga.ax

Puerto Rico oversight board favors more time for restructuring talks

Reuters Us Markets - 59 min 12 sec ago
Jan 18 (Reuters) - Puerto Rico's federal oversight board said on Wednesday it was willing to extend key deadlines that would give the debt-laden U.S. territory's government more time to negotiate...

US STOCKS-S&P 500 ends up slightly with boost from financials

Reuters Us Markets - 1 hour 40 sec ago
* Dow slips 0.1 pct, S&P rises 0.2 pct, Nasdaq firms 0.3 pct (Updates to close)

BRIEF-Zynerba Pharmaceuticals announces proposed public offering of common stock

Reuters Us Markets - 1 hour 2 min ago
* Zynerba Pharmaceuticals announces proposed public offering of common stock

BRIEF-Egalet closes second tranche of $80 million secured debt financing

Reuters Us Markets - 1 hour 3 min ago
* Egalet closes second tranche of $80 million secured debt financing

BRIEF-Canadian pacific railway reports Q4 earnings per share C$2.61

Reuters Us Markets - 1 hour 5 min ago
* CP reports record low operating ratio for fourth quarter and full year amid challenging conditions

BRIEF-Salesforce.Com to open its new office in Bellevue

Reuters Us Markets - 1 hour 5 min ago
* In coming months, salesforce plans to double its workforce in Bellevue to nearly 500 Source text for Eikon: Further company coverage:

BRIEF-Amcon Distributing quarterly earnings per share $1.52

Reuters Us Markets - 1 hour 6 min ago
* Amcon Distributing Company reports fully diluted earnings per share of $1.52 for the quarter ended December 31, 2016

FOREX-Dollar rises as Yellen remarks suggest quick rate hikes

Reuters Us Markets - 1 hour 7 min ago
* Sterling drops after largest one-day rise since at least 1998

BRIEF-Hercules Capital announces offering of $150 mln convertible senior notes

Reuters Us Markets - 1 hour 7 min ago
* Hercules Capital announces offering of $150.0 million convertible senior notes

Netflix blows past international subscriber estimates

Top Reuters News - 1 hour 11 min ago
(Reuters) - Netflix Inc's international and U.S. subscriber additions blew past analysts' estimates as the video streaming service released shows including the award-winning British drama "The Crown" and a revival of "Gilmore Girls".

Netflix shares pop after reporting improved earnings, subscriber growth

MarketWatch Market Pulse - 1 hour 12 min ago

Netflix Inc. shares were up more than 7% in after hours trade on Wednesday following the company's fourth-quarter earnings report. Netflix added 7.05 million subscribers in the quarter, much improved from the 3.57 million it added during the third quarter. Net income for the quarter was $66.7, million or 15 cents per share, compared with $43.2 million, or 10 cents per share, during the same quarter a year ago. FactSet's EPS consensus was 13 cents. Revenue for the quarter hit $2.48 billion, compared with $1.82 billion a year ago and just above FactSet's $2.47 billion revenue consensus. Shares of Netflix have gained 28% in the trailing 12-month period, outperforming the S&P 500 Index , which is up nearly 21% during the same time frame.

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La Quinta to explore split, shares up nearly 4%

MarketWatch Market Pulse - 1 hour 15 min ago

Shares of La Quinta Holdings Inc. rose nearly 4% late Wednesday after the hotel chain said it is pursuing to split its business in two stand-alone, publicly traded companies. The deal could involve "spinning off our owned real estate assets as a separate company," La Quinta said in a statement. There is "no assurance" the split will happen, the Irving, Texas, company said. J.P. Morgan is acting as financial advisor. Shares of La Quinta had ended the day up 1.4%, compared with gains of 0.2% for the S&P 500 index.

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Obama says reducing leaker Chelsea Manning's prison term serves justice

Top Reuters News - 1 hour 17 min ago
WASHINGTON (Reuters) - President Barack Obama said on Wednesday that former military intelligence analyst Chelsea Manning had served a tough prison term and his decision to commute her 35-year sentence to about seven years served would not signal leniency toward leakers of U.S. government secrets.

Rent-A-Center shares tank on sales, profit warning

MarketWatch Market Pulse - 1 hour 26 min ago

Shares of Rent-A-Center Inc. fell more than 16% late Wednesday after the rent-to-own retailer said it expects lower fourth-quarter sales and per-share losses. Quarterly sales are expected to be down about 14%, the Plano, Texas, company said in a statement. Per-share losses are seen between 20 cents a share and 30 cents a share in the quarter, it said. Rent-A-Center has not completed its financial statement reporting process, it said. "The fourth quarter proved to be more challenging than expected," interim CEO Mark E. Speese said. Its portfolio increased sequentially, as it typically does during the quarter, but the company was heavily promotional, impacting the period, he said. Rent-A-Center is expected to report full quarterly results Feb. 13. Shares of Rent-A-Center ended the regular trading day up 1.4%, in contrast with gains of 0.2% for the S&P 500 index.

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South Korean court dismisses arrest warrant for Samsung chief

Top Reuters News - 1 hour 27 min ago
SEOUL (Reuters) - A South Korean court on Thursday dismissed a warrant to arrest the head of the Samsung Group [SAGR.UL], the country's largest conglomerate, a court spokesman said, amid a graft scandal that led to the impeachment of President Park Geun-hye.

U.S. stocks rise moderately but Dow closes at 2017 low

MarketWatch Market Pulse - 1 hour 37 min ago

U.S. stocks rose moderately on Wednesday as gains in financials offset weakness in telecommunications shares but the Dow Jones Industrial Average bucked the trend to close at its lowest of 2017. The S&P 500 gained 4 points, or 0.2%, to close at 2,271. The Dow Jones Industrial Average shed 22 points, or 0.1%, to end at 19,804 while the Nasdaq Composite Index rose 16 points, or 0.3%, to close at 5,555. Major indexes traded within a tight range as sentiment remained subdued ahead of President-elect Donald Trump's inauguration on Friday.

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U.S. protest group vows to disrupt Trump inaugural festivities

Top Reuters News - 1 hour 37 min ago
WASHINGTON (Reuters) - Leaders of an ad hoc group of protesters enraged by Republican Donald Trump's election as president of the United States vowed on Wednesday to disrupt his inauguration this week by blocking public access to the event.

Mallinckrodt says it has settled with the FTC over allegedly using its monopoly to hike drug prices

MarketWatch Market Pulse - 1 hour 49 min ago

Mallinckrodt PLC said Wednesday afternoon that it had settled with the Federal Trade Commission over allegations that it used its monopoly to hike drug prices. The settlement is still subject to approval by the FTC, the company said. Earlier Wednesday, shares fell after the New York Post reported that the FTC was about to bring charges. Shares were down as much as 8% before a trading halt. Company shares have dropped 29.4% over the last three months, compared with a 6.1% rise in the S&P 500 .

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