Breaking Stock Market and Financial News

Zimbabwe's Mugabe resigns, ending four decades of rule

Top Reuters News - Tue, 11/21/2017 - 13:32
HARARE (Reuters) - Robert Mugabe resigned as Zimbabwe's president on Tuesday a week after the army and his former political allies moved to end four decades of rule by a man once feted as an independence hero who became feared as a despot.

FCC chief plans to ditch U.S. 'net neutrality' rules

Top Reuters News - Tue, 11/21/2017 - 13:31
WASHINGTON (Reuters) - The head of the U.S. Federal Communications Commission unveiled plans on Tuesday to repeal landmark 2015 rules that prohibited internet service providers from impeding consumer access to web content in a move that promises to recast the digital landscape.

CBS News fires Charlie Rose after sex harassment allegations

Top Reuters News - Tue, 11/21/2017 - 13:21
(Reuters) - CBS News said on Tuesday it had fired Charlie Rose, one of the most prominent American interviewers, the day after the Washington Post reported the television host had sexually harassed eight women.

U.S. threatens to sue Harvard over admissions policies

Top Reuters News - Tue, 11/21/2017 - 13:20
BOSTON (Reuters) - The U.S. Justice Department has threatened to sue Harvard University to force it to turn over documents as it investigates whether the Ivy League school's admission policies violate civil rights laws by discriminating against Asian-American applicants.

Republican-appointed judge to hear AT&T lawsuit, Time Warner shares rise

Top Reuters News - Tue, 11/21/2017 - 13:12
(Reuters) - A Republican-appointed judge with extensive antitrust experience was selected on Tuesday to preside over the U.S. government's lawsuit to block AT&T Inc's acquisition of Time Warner Inc, sending Time Warner shares higher as investors bet the judge would be more likely to allow the deal to proceed.

State Dept revolt: Tillerson accused of violating U.S. law on child soldiers

Top Reuters News - Tue, 11/21/2017 - 12:58
WASHINGTON (Reuters) - A group of about a dozen U.S. State Department officials have taken the unusual step of formally accusing Secretary of State Rex Tillerson of violating a federal law designed to stop foreign militaries from enlisting child soldiers, according to internal government documents reviewed by Reuters.

Russia finds 1,000-times normal level of radioactive isotope after nuclear incident claims

Top Reuters News - Tue, 11/21/2017 - 12:52
MOSCOW (Reuters) - Russia’s meteorological service said on Tuesday it had measured pollution of a radioactive isotope at nearly 1,000 times normal levels in the Ural mountains, the first official Russian data supporting reports that a nuclear incident had taken place.

CBS News fires journalist Charlie Rose following sexual harassment accusations

MarketWatch Market Pulse - Tue, 11/21/2017 - 12:50

CBS News said on Tuesday that it has fired TV host, and journalist Charlie Rose, effective immediately. The news, announced in a memo to staff from CBS News President David Rhodes, comes after eight women accused Rose of sexual harassment and sexual assault. In the memo Rhodes said that "Despite Charlie's important journalistic contribution to our news division, there is absolutely nothing more important, in this or any organization, than ensuring a safe, professional workplace--a supportive environment where people feel they can do heir best work. We need to be such a place."

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Russia moves to shelter banks funding arms makers from sanctions

Top Reuters News - Tue, 11/21/2017 - 12:36
MOSCOW (Reuters) - Russia has proposed ending the publication of the names of banks which finance Russian state-controlled arms producers, in a possible sign that Moscow is preparing for new U.S. sanctions.

Iranian man charged in HBO 'Game of Thrones' hacking case

MarketWatch Market Pulse - Tue, 11/21/2017 - 10:51

Federal prosecutors on Tuesday charged an Iranian man with the hack into Time Warner Inc.-owned HBO's computer system, that led to unaired episodes of the network's hit show "Game of Thrones" being leaked online, according to news reports. HBO's systems were hacked over the summer, and handfuls of TV episodes, documents and company emails were leaked online. The hacker, Behzad Mesri, according to reports, demanded $6 million in bitcoin at the time. According to reports, Mesri is a member of the Turk Black Hat Security hacking team and has ties to the Iranian military, however, it's not believed that the HBO hack was on behalf of the Iranian government. Shares of Time Warner have declined nearly 8% in the year to date, while the S&P 500 index is up more than 16% and the Dow Jones Industrial Average is up close to 19%.

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Law likely on AT&T's side in Time Warner battle: analysts

Top Reuters News - Tue, 11/21/2017 - 10:24
(Reuters) - AT&T Inc is likely to emerge victorious from a legal fight with the United States Department of Justice over its $85.4 billion acquisition of Time Warner Inc, analysts said in a series of research notes on Tuesday.

Goldman Sachs growth plan hasn't convinced Instinet analyst, who prefers Morgan Stanley

MarketWatch Market Pulse - Tue, 11/21/2017 - 09:42

In the wake of a September investor presentation from Goldman Sachs , Instinet analyst Steven Chubak remains tepid on the stock, and prefers Morgan Stanley , he said in a note Tuesday. It will take Goldman time to realize higher earnings from its new strategies, Chubak noted, and about half of the anticipated revenue lift comes from segments that face long-term, structural headwinds, such as the shift from active asset management to passive. Goldman's businesses are now skewed toward "lower-multiple areas," such as fixed income, commodities and currency trading and consumer lending, while Morgan Stanley's earning mix is "higher quality." Goldman shares are down about 0.6% for the year to date, while Morgan Stanley's are up 16.2%. The Dow Jones Industrial Average has gained 18.6% in that time and the S&P 500 is up 15.9%.

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U.S. threatens to sue Harvard over admissions policy probe

Top Reuters News - Tue, 11/21/2017 - 09:41
BOSTON (Reuters) - The U.S. Justice Department has threatened to sue Harvard University to force it to turn over documents as it investigates whether the Ivy League school's admission policies violate civil rights laws.

Iraq relocates hundreds of foreign wives and children of suspected Islamic State militants to Baghdad

Top Reuters News - Tue, 11/21/2017 - 09:36
ERBIL/BAGHDAD (Reuters) - Iraqi authorities have moved hundreds of foreign wives and children of suspected Islamic State militants from a detention center in northern Iraq to Baghdad, citing security concerns and the difficulties of keeping them in a remote location.

Zimbabwe's parliament starts impeachment process against Mugabe

Top Reuters News - Tue, 11/21/2017 - 09:35
HARARE (Reuters) - Zimbabwe's parliament began an impeachment process against President Robert Mugabe on Tuesday that looks set to bring his domination of a country he has ruled since independence nearly four decades ago to an ignominious end.

Nasdaq hits all-time high as stocks open higher

MarketWatch Market Pulse - Tue, 11/21/2017 - 09:34

Stocks opened higher higher Tuesday, with the Nasdaq hitting an all-time high and the Dow rising triple digits as investors focused on upbeat corporate earnings. The S&P 500 rose 0.4%, while the Dow advanced 112 points, or 0.5%. The Nasdaq rose 0.5%.

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Apple removes several apps, including Skype, in China

Top Reuters News - Tue, 11/21/2017 - 09:32
(Reuters) - Apple Inc said on Tuesday it has removed several apps including Skype, Microsoft Corp's internet phone call and messaging service, from its app store in China after the country's government pointed to violations of local laws.

Russia's Putin hosts Assad in fresh drive for Syria peace deal

Top Reuters News - Tue, 11/21/2017 - 09:03
MOSCOW/BEIRUT (Reuters) - Russian President Vladimir Putin hosted Syrian leader Bashar al-Assad late on Monday for three hours of talks to lay the groundwork for a new push by Moscow to end Syria's conflict now that Islamic State's territorial caliphate is overrun.

Stone Energy to merge with Talos Energy, to create a $1.9 billion market cap E&P company

MarketWatch Market Pulse - Tue, 11/21/2017 - 08:49

Stone Energy Corp. said Tuesday it will merge with privately held Talos Energy LLC, creating a company with an equity market capitalization $1.9 billion. The combined oil and gas exploration and production company will be named Talos Energy Inc., and is expected to be listed on the New York Stock Exchange with a stock ticker symbol of "TALO." Under terms of the deal, each Stone share outstanding will be exchanged for one share of Talos Energy Inc., and current Talos stakeholders will be issued a total of 34.2 million common shares. Talos stakeholders will own 63% of the combined company while Stone shareholders will own 37%. Talos Chief Executive Timothy Duncan will be CEO of the combined company. Stone's stock was halted for news. It has soared 40.6% over the past three months, but has shed 12.5% year to date. In comparison, the SPDR Energy Select Sector ETF has lost 10.7% this year and the S&P 500 has rallied 15.3%.

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.

Cytokinetics shares drop 31% on late-stage ALS drug failure

MarketWatch Market Pulse - Tue, 11/21/2017 - 08:46

Cytokinetics Inc. shares dropped 31% in premarket trade Tuesday after the company said its lead product candidate failed to meet primary or secondary endpoints in a late-stage clinical trial. The drug, tirasemtiv, was being developed for the progressive neurodegenerative disease amyotrophic lateral sclerosis (ALS); Cytokinetics said on Tuesday that it plans to suspend tirasemtiv's development. The company said it believes tirasemtiv's limitations "may be addressed with our next-generation fast skeletal muscle activator, CK-2127107," which is currently in mid-stage clinical trials, with phase 2 results expected next year. CK-212710, which is also called CK-107, is being developed to improve muscle function and physical performance for individuals with ALS, spinal muscular atrophy, chronic obstructive pulmonary disease and for elderly adults with limited mobility. Cytokinetics shares have declined 11.6% over the last three months, compared with a 6.3% rise in the S&P 500 and a 8% rise in the Dow Jones Industrial Average .

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.

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