Breaking Stock Market and Financial News

Trump says he'd tax Toyota if it builds plant in Mexico instead of U.S.

MarketWatch Market Pulse - Thu, 01/05/2017 - 13:24

President-elect Donald Trump threatened Toyota Motor Corp. with a "big border tax" if the company builds a plant in Mexico instead of the U.S. In a tweet, Trump said Toyota is planning to build a new plant in Baja, Mexico, to build its Corolla cars for the U.S. market. "No way!," Trump said. "Build plant in U.S. or pay big border tax." Toyota's shares were off about 0.4% after Trump's tweet.

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Fire breaks out at Vale fertilizer unit, production halted

Reuters Us Markets - Thu, 01/05/2017 - 13:22
SAO PAULO, Jan 5 (Reuters) - A fire broke out on Thursday at a Vale fertilizer unit in Sao Paulo state, the company confirmed. It was not immediately clear what, if any, damage, there was, but...

Comey defends actions during 'challenging' U.S. election year

Top Reuters News - Thu, 01/05/2017 - 13:20
WASHINGTON (Reuters) - FBI Director James Comey on Thursday defended his handling of Democratic presidential candidate Hillary Clinton's email investigation during the contentious U.S. presidential election, according to a message to FBI staff reported by ABC News.

BRIEF-San Francisco Fed appoints Green Dot CEO to Los Angeles branch board

Reuters Us Markets - Thu, 01/05/2017 - 13:19
* Appointed Steven Streit, CEO of Green Dot Corp, to Los Angeles branch board of directors for a 3-year term

UPDATE 1-Corzine settles with CFTC over MF Global collapse, to pay $5 mln

Reuters Us Markets - Thu, 01/05/2017 - 13:17
Jan 5 (Reuters) - Jon Corzine has agreed to pay a $5 million civil fine to settle a lawsuit by the U.S. Commodity Futures Trading Commission over the 2011 collapse of the former New Jersey governor's...

BRIEF-Suffolk County awards New Flyer contract for up to 73 Xcelsior buses

Reuters Us Markets - Thu, 01/05/2017 - 13:17
* Suffolk County awards New Flyer a contract for up to 73 Xcelsior buses

Mexico does not rule out further dollar sales to prop up peso

Reuters Us Markets - Thu, 01/05/2017 - 13:16
MEXICO CITY, Jan 5 (Reuters) - Mexico's financial authorities do not rule out future discretionary interventions to boost the country's slumping currency, the currency commission said on Thursday,...

US STOCKS-Dow, S&P set for first day of losses this year

Reuters Us Markets - Thu, 01/05/2017 - 13:09
* Department store stocks fall on Macy's, Kohl's forecast cut

BRIEF-Viacom names Sarah Levy COO of Global Entertainment Group

Reuters Us Markets - Thu, 01/05/2017 - 13:07
* Viacom names Sarah Levy Chief Operating Officer of Global Entertainment Group

BRIEF-EquipmentShare.com Inc says raised $28.4 mln in equity financing- SEC filing

Reuters Us Markets - Thu, 01/05/2017 - 13:01
* EquipmentShare.com Inc - Disclosed in Form D to U.S. SEC that it has raised $28.4 million in equity financing -SEC filing Source text: (http://bit.ly/2ifBKbi)

Verizon executive says company unsure about Yahoo deal

Top Reuters News - Thu, 01/05/2017 - 11:59
(Reuters) - A senior executive of Verizon Communications Inc said on Thursday the company was unsure about its planned acquisition of Yahoo Inc's internet business.

KaloBios stock jumps on news of positive guidance from FDA on rare disease drug

MarketWatch Market Pulse - Thu, 01/05/2017 - 11:33

Shares of biotech KaloBios Pharmaceuticals Inc. surged 8% Thursday, after the company reported positive guidance from a meeting with the U.S. Food and Drug Administration regarding its benznidazole, a treatment for the neglected rare tropical illness, Chagas disease. The company, which was headed by investor Martin Shkreli until his arrest on fraud charges in late 2015, said the FDA will accept its approach to showing safety and efficacy using data drawn from previous studies. The regulator said benznidazole is expected to be eligible for a priority review voucher, which is given to sponsors of treatments for certain neglected tropical diseases. "This guidance makes it clear that we are on the right track with our development of benznidazole for Chagas disease, and we expect we will progress expeditiously toward a submission," Chief Executive Cameron Durrant said in a statement. Shares, which trade over-the-counter, are down 82% in the last 12 months, while the S&P 500 has gained about 12%.

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Twilio shares climb after upgrade to overweight at Pacific Crest

MarketWatch Market Pulse - Thu, 01/05/2017 - 11:12

Shares of Twilio gained 2% after the stock was upgraded to overweight from sector weight at Pacific Crest Securities Thursday. The analysts upgraded the company, saying they believe the core business of Twilio, which makes programmable cloud software for developers and enterprises and makes up 90% of revenue, is in a position to see continued steady growth. That growth could lead Twilio to profitability by the end of the year, they said. Additionally, they say a 55% stock drop in the fourth quarter of 2016 has created "an increasingly favorable risk/reward" for investors. They established a price target of $36. Shares of Twilio have fallen 10% in the past month, compared to the S&P 500's gain of 3%.

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EIA reports big decline in U.S. oil supplies, along with jump in product stocks

MarketWatch Market Pulse - Thu, 01/05/2017 - 11:08

Oil futures pared earlier gains Thursday after the U.S. Energy Information Administration reported that domestic crude supplies fell much more than expected, but stocks of gasoline and distillates spiked higher. Crude stockpiles declined by 7.1 million barrels for the week ended Dec. 30. The American Petroleum Institute late Wednesday reported a fall of 7.4 million barrels, though analysts polled by S&P Global Platts forecast a decline of 1.7 million barrels. Gasoline supplies, however, rose 8.3 million barrels while distillate stockpiles jumped up by 10.1 million barrels, according to the EIA. Reports on supplies this week were delayed by a day because of the New Year's Day holiday. February crude traded up 7 cents, or 0.1%, to $53.33 a barrel on the New York Mercantile Exchange, down from $53.90 before the data.

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EIA reports smaller-than-expected fall in U.S. natural-gas supplies

MarketWatch Market Pulse - Thu, 01/05/2017 - 10:37

Natural-gas futures turned lower Thursday after the U.S. Energy Information Administration reported that supplies of natural gas fell by 49 billion cubic feet for the week ended Dec. 30. That was well below the 106 billion cubic feet expected by Citi Futures. Total stocks now stand at 3.311 trillion cubic feet, down 364 billion cubic feet from a year ago and 21 billion cubic feet below the five-year average, the government said. February natural gas lost 9.1 cents, or 2.8%, to $3.176 per million British thermal units. It traded at $3.288 before the data.

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Trump presses Democrats on Obamacare, urges bipartisan fix

Top Reuters News - Thu, 01/05/2017 - 10:32
WASHINGTON (Reuters) - U.S. Republican President-elect Donald Trump kept up his attacks on Democrats and Obamacare on Thursday while calling for a bipartisan congressional effort to come up with a healthcare alternative that would lower costs and improve care.

BRIEF-Carnegie Technologies Holdings to submit $8.50/share proposal to buy Magicjack

Reuters Us Markets - Thu, 01/05/2017 - 10:29
* Announced nomination of five candidates for election to Magicjack's board of directors

BRIEF-Fossil to double wearables in 2017 to more than 300 products

Reuters Us Markets - Thu, 01/05/2017 - 10:28
* Doubling wearables in 2017 to more than 300 products, adding new brands, new designs and smaller hybrid smartwatches Source text for Eikon: Further company coverage:

Fossil says to double wearables offering in 2017, stock slumps

MarketWatch Market Pulse - Thu, 01/05/2017 - 10:20

Watch maker Fossil Group said Thursday it is planning to double its wearables product line-up in 2017 to more than 300 new products and will add extra brands to its stable. These include Armani Exchange hybrid smartwatches, and Misfit's Vapor, the first touchscreen smartwatch featuring a heart rate, GPS and standalone music functions. The company said it launched more than 140 new wearables in 2016 across 40 countries. Shares fell 6% in early trade, and are down 24% in the last 12 months, while the S&P 500 has gained 12%.

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.

U.S. 30-year mortgage rates post 1st fall since U.S. election - Freddie

Reuters Us Markets - Thu, 01/05/2017 - 10:14
NEW YORK, Jan 5 (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages posted their first weekly decline since the U.S. presidential election on Nov. 8 which Donald Trump won, mortgage...

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