Breaking Stock Market and Financial News

BRIEF-Tortoise Energy Infrastructure unaudited NAV $28.83 per share as of Nov. 30

Reuters Us Markets - Thu, 12/01/2016 - 20:13
* Tortoise energy infrastructure corp. Provides unaudited balance sheet information and asset coverage ratio update as of Nov. 30, 2016

PRESS DIGEST- British Business - Dec 2

Reuters Us Markets - Thu, 12/01/2016 - 20:12
Dec 2 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

Trump supports completion of Dakota Access Pipeline

Top Reuters News - Thu, 12/01/2016 - 18:55
WASHINGTON (Reuters) - U.S. President-elect Donald Trump on Thursday said for the first time that he supports the completion of a pipeline project near a North Dakota Indian reservation, which has been the subject of months of protests by tribes and environmentalists.

UPDATE 3-Starbucks CEO steps down to focus on high-end coffee, shares fall

Reuters Us Markets - Thu, 12/01/2016 - 18:49
Dec 1 (Reuters) - Starbucks Corp co-founder Howard Schultz will step down as chief executive to focus on new high-end coffee shops, handing the top job to Chief Operating Officer Kevin Johnson, a...

UPDATE 4-U.S. veterans arrive at pipeline protest camp in North Dakota

Reuters Us Markets - Thu, 12/01/2016 - 18:42
CANNON BALL/WEST FARGO, N.D., Dec 1 (Reuters) - U.S. military veterans were arriving on Thursday at a camp to join thousands of activists braving snow and freezing temperatures to protest a pipeline...

Obama, trying to protect legacy, unlikely to act on Mideast peace

Top Reuters News - Thu, 12/01/2016 - 18:40
WASHINGTON (Reuters) - U.S. President Barack Obama, keen to preserve his legacy on domestic health care and the Iran nuclear deal, is not expected to make major moves on Israeli-Palestinian peace before leaving office, U.S. officials said on Thursday.

Ontario health ministry to probe alleged Costco pharmacy kickbacks

Reuters Us Markets - Thu, 12/01/2016 - 18:38
Dec 1 (Reuters) - Costco Wholesale Corp said on Thursday that Ontario's health ministry would launch a probe into allegations it got illegal kickbacks from drugmakers, becoming the Canadian...

UPDATE 2-Pimco to pay $20 mln over misleading investors about ETF performance

Reuters Us Markets - Thu, 12/01/2016 - 18:36
WASHINGTON/NEW YORK, Dec 1 (Reuters) - Pacific Management Investment Co (Pimco) will pay $20 million to settle charges it misled investors about the performance of a top exchange-traded fund it...

UPDATE 1-Three killed as pickup truck crashes into Walmart store in Iowa

Reuters Us Markets - Thu, 12/01/2016 - 18:31
Dec 1 (Reuters) - Three people were killed and two injured on Thursday when a pickup truck crashed through the front of a Wal-Mart store in central Iowa, a state police spokesman said.

Trump supports completion of Dakota Access Pipeline

Reuters Us Markets - Thu, 12/01/2016 - 18:29
WASHINGTON, Dec 1 (Reuters) - U.S. President-elect Donald Trump on Thursday said for the first time that he supports the completion of a pipeline project near a North Dakota Indian reservation, which...

Highland Capital seeks to unmask author of 'defamatory' post on Dealbreaker

Reuters Us Markets - Thu, 12/01/2016 - 18:27
NEW YORK, Dec 1 (Reuters) - Highland Capital Management LP on Thursday asked a New York state judge to order the operator of Dealbreaker.com to disclose information that could help it identify...

BRIEF-Big Rock Brewery says Barbara Feit appointed interim CEO

Reuters Us Markets - Thu, 12/01/2016 - 18:23
* Big Rock Brewery Inc. announces appointment of interim chief financial officer

BRIEF-Strike Minerals Inc. Files a notice of intention to make a proposal to creditors

Reuters Us Markets - Thu, 12/01/2016 - 18:23
* Strike Minerals Inc. Files a notice of intention to make a proposal to creditors

Gap says impact of New York distribution center fire felt most in November

MarketWatch Market Pulse - Thu, 12/01/2016 - 18:03

Gap Inc. shares fell 1% in late Thursday trading after the retail company reported a decline in revenue and same-store sales for the month of November. Gap said sales for the four weeks ending Nov. 28 totaled $1.53 billion, down from $1.57 billion last year. Same-store sales for the month fell 1%. Gap said an August fire in its Fishkill, NY distribution center hurt November's results the most of its fiscal fourth quarter, with same-store sales negatively impacted by three percentage points. Analysts say not all of the impacts from the fire have been negative. Same-store sales for the namesake Gap brand fell 3%, and same-store sales at Old Navy fell 2%. Banana Republic, which has been plagued by declining same-store sales results, reported a same-store sales increase of 5% for the month. Gap shares are up 1.4% for the year so far while the S&P 500 index is up 7.2% for the same period.

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Johnson & Johnson hit with over $1 billion verdict on hip implants

Top Reuters News - Thu, 12/01/2016 - 17:59
(Reuters) - A federal jury in Dallas on Thursday ordered Johnson & Johnson and its DePuy Orthopaedics unit to pay more than $1 billion to six plaintiffs who said they were injured by Pinnacle hip implants, a lawyer for the plaintiffs said.

Twitter lands former Google exec as head of product through acquisition

MarketWatch Market Pulse - Thu, 12/01/2016 - 17:56

Twitter Inc. announced a new head of product Thursday after acquiring the executive's social-networking-app startup for an undisclosed amount. Keith Coleman, who was director of product management for Google Inc. for a decade before leaving in 2014, was named the permanent replacement for Kevin Weil as vice president of product at Twitter. Weil left in a January exodus of top Twitter executives, and was the fifth person to lead the product team at Twitter in six years, according to Bloomberg News. Coleman founded Yes Inc. after leaving Google, now known as Alphabet Inc., in 2014; Twitter acquired Yes and its team, according to a post on the Yes site.

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.

A year after San Bernardino attack, investigators still seek answers

Top Reuters News - Thu, 12/01/2016 - 17:33
LOS ANGELES (Reuters) - One year after two Islamic militants shot dead 14 people in a massacre in Southern California, FBI investigators are still seeking to answer key questions such as the location of the married couple's computer hard drive and whether anyone helped them, an official said.

Pimco to pay $20 million to settle SEC charges it misled investors about ETF performance

MarketWatch Market Pulse - Thu, 12/01/2016 - 16:49

The Securities and Exchange Commission said Thursday that Pimco would pay $20 million to settle charges that it misled investors about the performance of the Pimco Total Return Active ETF . The SEC said that for the first four months that the exchange-traded fund traded, it outperformed its flagship mutual fund through an "odd lot" strategy, where the company bought smaller-sized bonds to boost performance. This strategy resulted in the ETF overvaluing its portfolio, while the SEC also said that Pimco didn't disclose this practice as unsustainable as the fund grew in size. "PIMCO misled investors about the true long-term impact of its odd lot strategy and denied them the opportunity to make fully informed investment decisions about the Total Return ETF," Andrew J. Ceresney, director of the SEC's enforcement division, said in a statement. Under terms of the settlement, Pimco agreed to censure under the SEC's order without admitting to or denying the findings.

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Five Below shares up 9% on company's earnings beat

MarketWatch Market Pulse - Thu, 12/01/2016 - 16:37

Shares of Five Below Inc. jumped more than 9% late Thursday after the discount retailer reported fiscal third-quarter earnings above Wall Street expectations and sales slightly under forecast. Five Below said sales rose by 18% to $199.5 million in the quarter, from the $169.7 million in year-ago period. It earned $5.4 million, or 10 cents a share, in the quarter, compared with $4.3 million, or 8 cents a share, in the third quarter of fiscal 2015. Analysts polled by FactSet had expected earnings of 9 cents a share on sales of $201 million. Shares had ended the regular trading day up 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.

Smith & Wesson shares fall after fiscal Q2 earnings

MarketWatch Market Pulse - Thu, 12/01/2016 - 16:27

Shares of Smith & Wesson Holding Corp. fell more than 6% late Thursday after the gun maker reported fiscal second-quarter earnings and sales above Wall Street expectations. Smith & Wesson said it earned $32.5 million, or 57 cents a share, in the quarter, compared with $14.2 million, or 22 cents a share, in the year-ago quarter. Adjusted for one-time items, the gun maker reported a net income of $39.1 million, or 68 cents a share, compared with $14.2 million, or 25 cents a share, a year ago. Net sales reached $233.5 million, from $143.2 million a year ago, Smith & Wesson said. Analysts polled by FactSet had expected adjusted earnings of 57 cents a share on sales of $228 million. The company tweaked higher its sales expectations to a range of $230 million and $240 million for the three months to end Jan. 31; in September, the company had predicted sales in a range of $220 million to $230 million for the quarter. The shares ended the regular trading day up 2.8%.

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