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House intelligence panel chair: Probe of Russia continues

Reuters US Politics - 18 min 49 sec ago
WASHINGTON (Reuters) - House Intelligence Committee Chairman Devin Nunes on Tuesday said his panel's probe into Russian interference in the 2016 U.S. election would continue to move forward.

CryoPort's stock tumbles on heavy volume after share offering prices at deep discount

MarketWatch Market Pulse - 19 min 17 sec ago

Shares of CryoPort Inc. plunged 44% to a 4 1/2-month low in active morning trade Tuesday, after the company announced that pricing of a relatively-large share offering at a deep discount. Volume topped 1.9 million shares within the first 15 minutes after the open, compared with the full-day average of about 30,500 shares. The life sciences commodities delivery company said it priced the public offering of 5.5 million newly issued common shares at $2 a share, which was 47% below Monday's closing price of $3.75. The offering represents an 31% increase to the number of shares outstanding, based on FactSet data. The company plans to use the proceeds from the offering, which it expects to be $9.9 million after fees, to grow its business. The stock had rallied 16% year to date through Thursday, but was now shedding 36% so far this year, while the S&P 500 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.

U.S. stocks open slightly lower, politics remain in focus

MarketWatch Market Pulse - 35 min 7 sec ago

U.S. stocks opened slightly lower on Tuesday, putting the Dow on track for a ninth straight daily decline as investors continued to grapple with the uncertain legislative outlook in Washington. The Dow Jones Industrial Average fell 27 points, or 0.1%, to 20,529. The blue-chip average is coming off eight straight down days, its longest streak since 2011. The S&P 500 dipped 2.5 points to 2,339, a drop of 0.1%. The Nasdaq Composite Index slid 3 points to 5,828, a slide of less than 0.1%. Recent market losses have been fueled by the failure of House Republicans and President Donald Trump to pass an overhaul of the health care system, which has been read as a litmus test for how easily the Trump administration can enact other economic legislation. Markets have rallied since the election, in large part on bets that Trump's proposals on taxes and regulation would accelerate economic growth if enacted. A failure to sign them into law could put those gains at risk. Among the most active stocks of the day, both utilities and telecom shares fell 0.4%. Both sectors are considered defensive plays. On the upside, energy rose 0.4% alongside a 0.9% rise in the price of crude oil.

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.

Carnival shares rise after earnings beat estimates

MarketWatch Market Pulse - 35 min 35 sec ago

Carnival Corp. shares rose 1.5% in Tuesday trading after the cruise company reported first-quarter earnings that beat estimates. Net income was $352.0 million, or 48 cents per share, up from $142.0 million, or 18 cents per share, for the same period last year. Adjusted EPS was 38 cents, beating the 35-cent FactSet consensus. Revenue was $3.8 billion for the quarter, up from $3.7 billion last year and meeting the FactSet consensus. Passenger ticket sales totaled $2.8 billion, up from $2.7 billion last year and in line with the FactSet consensus. Onboard and other revenue was $978.0 million, up from $923.0 million and ahead of the $962.0 million FactSet consensus. The company expects second-quarter adjusted EPS of 43 cents to 47 cents, compared with the 46-cent FactSet consensus. The company also raised the full-year outlook to a range of $3.50 to $3.70 from December guidance of $3.30 to $3.60. The FactSet consensus is $3.61. Carnival shares are up 20.1% for the past year, while the S&P 500 index is up 15% for the last 12 months.

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.

Trump to sign order sweeping away Obama-era climate policies

Top Reuters News - 54 min 59 sec ago
WASHINGTON (Reuters) - U.S. President Donald Trump will sign an executive order on Tuesday to undo a slew of Obama-era climate change regulations that his administration says is hobbling oil drillers and coal miners, a move environmental groups have vowed to take to court.

Trump to sign order sweeping away Obama-era climate policies

Reuters US Politics - 54 min 59 sec ago
WASHINGTON (Reuters) - U.S. President Donald Trump will sign an executive order on Tuesday to undo a slew of Obama-era climate change regulations that his administration says is hobbling oil drillers and coal miners, a move environmental groups have vowed to take to court.

Exclusive: As Democratic attorneys general target Trump, Republican AGs target them

Top Reuters News - 1 hour 4 min ago
(Reuters) - For years the national political organizations of both Democratic and Republican state attorneys general observed an agreement not to target the other party's incumbent office-holders in elections.

Exclusive: As Democratic attorneys general target Trump, Republican AGs target them

Reuters US Politics - 1 hour 4 min ago
(Reuters) - For years the national political organizations of both Democratic and Republican state attorneys general observed an agreement not to target the other party's incumbent office-holders in elections.

Power Solutions stock rockets after China-based Weichai makes equity investment

MarketWatch Market Pulse - 1 hour 15 min ago

Shares of Power Solutions International Inc. rocketed 52% in premarket trade Tuesday, after the maker of alternative-fuel power systems announced a $60 million equity investment by Weichai America Corp. As part of the deal, Weichai, which is a subsidiary of China-based diesel-engine maker Weichai Power Co. Ltd., will buy 2.7 million newly issued shares at $8 a share, representing a 25% premium to Monday's closing price of $6.40. Weichai will also buy 2.4 million shares of preferred stock, which will be convertible into 4.8 million shares of common stock. "Through this alliance, we will dramatically expand adoption of our engines and technologies for transportation, power generation, and industrial applications within our current markets, including China, the world's largest market opportunity," said Power Solutions Chief Executive Gary Winemaster. The stock has tumbled 15% year to date through Monday, while the S&P 500 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.

Square launches readers in the United Kingdom

MarketWatch Market Pulse - 1 hour 30 min ago

Shares of Square Inc. were up 2% in premarket trade Tuesday after the company announced a launch in the United Kingdom. With Square in the United Kingdom, business owners can use Square's readers for transactions. The is the fifth country for Square, alongside Canada, Japan, Australia and the U.S. Shares of Square have gained 24% in the past three months, compared to the S&P 500's gain of 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.

Rent-A-Center adopts 'poison pill' to help fend off unsolicited acquirer

MarketWatch Market Pulse - 1 hour 48 min ago

Rent-A-Center Inc. said Tuesday that it adopted a shareholder rights plan, also known as a "poison pill," to reduce the likelihood that an investor would gain unsolicited control of the company. The rent-to-own operator declared on March 25 a dividend of one preferred stock purchase right for each outstanding common stock, payable on April 14 to shareholders of record on April 7. The right allows shareholders to buy one-thousandth of a share of newly created Class D preferred stock for $25, which can be exercised if an investor acquires a stake of 15% or more of outstanding common stock. If exercised, the right entitles its holder to buy a number of common shares. The rights plan comes after Engaged Capital Holdings LLC disclosed in a filing on March 23 that it now owns about 9 million shares, or 16.9% of the shares outstanding. Rent-A-Center's stock, which edged up 0.9% in premarket trade, has tumbled 19% year to date through Monday, while the S&P 500 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.

Battle for west Mosul: At least 300 civilians killed in last month, says UN

MiddleEasteye - 2 hours 4 min ago
Language Undefined

The US says it is investigating what would be one of the highest civilian casualties since the 2003 Iraq war

Germany accuses Turkey of 'intolerable' spying as diaspora heads to polls

MiddleEasteye - 2 hours 22 min ago
Language Undefined

Turks across Europe began voting on the constitutional referendum on Monday

Tencent amasses 5% stake in Tesla for about $1.8 billion

MarketWatch Market Pulse - 2 hours 31 min ago

Tencent Holdings Ltd. amassed a 5% stake in electric carmaker Tesla Inc. in March, according to a filing with the Securities and Exchange Commission on Tuesday. The Hong Kong-based Internet company said it bought about 8.2 million shares in an offering and on the open market for about $1.8 billion. Tesla shares jumped 3% premarket after the filing was published, and are up 26% in the year so far, while the S&P 500 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.

Amazon's stock gains as another analyst sets price target above $1,000

MarketWatch Market Pulse - 2 hours 33 min ago

Shares of Amazon.com Inc. edged up 0.3% in premarket trade Tuesday, after Stifel Nicolaus boosted its price target by 12%, saying the company is in position to be the prime beneficiary of the carnage it has created in ecommerce. Analyst Scott Devitt raised his stock price target to $1,025, which is 21% above Monday's closing price of $846.82, from $912. Of the 44 analysts surveyed by FactSet, Devitt now has the fourth highest price target, behind the $1,250 at Susquehanna and the $1,050 at both Cowen & Co. and Deutsche Bank. Devitt also raised his long-term revenue outlook given his belief that the momentum in ecommerce will accelerate in the U.S., that Prime membership will continue to grow, that Amazon Web Services business will keep growing and because of the emergence of non-retail lines of business. Devitt said that while continued investment in areas including logistics, cloud services, video and Alexa could weigh on margin growth, he supports Amazon's investment strategies as he believes there is a "strong likelihood for successful outcomes." Separately, Amazon said Tuesday it was buying Dubai-based ecommerce company Souq.com for about $700 million. The stock has rallied 13% year to date through Monday, while the S&P 500 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.

Cara Therapeutics shares surge 16% on positive results in trial of UP treatment

MarketWatch Market Pulse - 2 hours 41 min ago

Cara Therapeutics Inc. shares surged 16% in premarket trade Tuesday, after the biotech reported positive results in a trial of a treatment for uremic pruritus, or UP. UP is a debilitating systemic itch condition that affects patients with chronic kidney disease, the company said in a statement. There are currently no approved therapies for the condition in the U.S. The results from Part A of a phase 2 to 3 trial of I.V. CR845 met primary and secondary endpoints for efficacy, said Cara. The company is planning to meet with the U.S. Food and Drug Administration to finalize the design of Part B of the study and to start recruiting patients later this year. CR845 is being developed for the treatment of acute and chronic pain as well as UP. Cara shares have gained 95% in the year so far, while the S&P 500 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.

Uber to pull out of Denmark in April because of new taxi law

MarketWatch Market Pulse - 2 hours 58 min ago

Ride-hailing company Uber Technologies is planning to pull out of Denmark on April 18, because of a taxi law that includes the requirement that drivers use mandatory fare meters, according to media reports Tuesday. The company has been active in Denmark since 2014 but has faced opposition from local taxi driver unions, companies and politicians, who have argued that if offers unfair competition. "For us to operate in Denmark again the proposed regulations need to change. We will continue to work with the government in the hope that they will update their proposed regulations and enable Danes to enjoy the benefits of modern technologies like Uber," Uber said in a statement quoted by Reuters.

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.

Yext sets terms for IPO pricing to raise up to $105 million

MarketWatch Market Pulse - 3 hours 6 min ago

Yext disclosed Tuesday that it expects its initial public offering of 10.5 million shares to price between $8 and $10 a share. The company would raise up to $105 million before fees. The location-synching company granted the underwriters of the IPO options to buy up to an additional 1.585 million shares to cover overallotments. Yext has applied to have its shares listed on the NYSE and to trade under the symbol "YEXT." Morgan Stanley, J.P. Morgan and RBC Capital Markets are the lead underwriters of the IPO. The company reported revenue for the fiscal year ended Jan. 31, 2017 of $124.3 million, up from $89.7 million the previous year, while reporting net losses that widened to $43.1 million from $26.6 million.

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.

Tesla EPS estimates trimmed, revenue raised at Pacific Crest

MarketWatch Market Pulse - 3 hours 7 min ago

Telsa Inc.'s first-quarter deliveries are tracking in line to slightly below expectations, according to Pacific Crest, where analysts trimmed earnings-per-share estimates on Tuesday. "While Model 3 remains the sizzle in the stock for now, our longer-term bias remains more negative given that Model X demand continues to show up soft (>30% of future profit), Model S deliveries appear to be down y/y for three of the past four quarters, and Model 3 production ramp remains fraught with risk," analysts wrote in a note. Pacific Crest is raising its revenue estimates as it expects the number of total cars that are not subject to lease accounting has risen. But its core unit volume expectations have not changed and it lowered its EPS estimates due to higher research & development spending and higher interest expense from the company's recent convertible debt offering. The brokerage is now expecting fiscal first quarter EPS of 43 cents, down from a previous 50 cents. Revenue is expected to come to $2.277 billion, up from a previous $2.137 billion. Shares were down 0.5% premarket, but have gained 26% in the year so far, outperforming the S&P 500's 4.6% gain.

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.

Poll shows Macron win in French election in shadow of 'Penelopegate'

Top Reuters News - 3 hours 16 min ago
PARIS (Reuters) - Centrist Emmanuel Macron would trounce far-right leader Marine Le Pen in France's presidential election if, as seems increasingly likely, the two face off in the second and final round of the contest on May 7, a poll showed on Tuesday.

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