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Market Watch
Morgan Stanley buys stake in Hainan resort project
Friday, July 4, 2008
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HONG KONG (MarketWatch) -- Morgan Stanley will partner with mainland property firm Agile Property to develop a holiday resort in Hainan Island, seeking to benefit from the growing tourism boom in China's southernmost province.
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Merrill said in talks to sell Bloomberg stake back to mayor
Friday, July 4, 2008
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LONDON (MarketWatch) -- Merrill Lynch is in talks to sell its minority stake in financial news group Bloomberg L.P. back to New York City Mayor Michael Bloomberg, according to a published report on Friday.
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Irish live register data shows unemployment rate at 5.7%
Friday, July 4, 2008
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LONDON (MarketWatch) -- The Irish Central Statistics Office said Friday that its seasonally adjusted live register showed the standardised unemployment rate rose to 5.7% in June. The number on the register increased 10,100 to hit 217,400 at the end of June. This compares with a rate of 4.6% at the end of 2007. Rossa White, economist at Davy Stockbrokers noted that the rise represented the biggest jump in claimants in any half-year since 1975.
"Unemployment claimants have spiked in the last six months, driven by housing-related layoffs - both direct and indirect," he said. However, White also noted that the true unemployment rate is probably lower because data on how fast labour force growth is slowing isn't yet available. 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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Oil down as Iran prepares response to nuclear proposal
Friday, July 4, 2008
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LONDON (MarketWatch) -- Oil futures turned lower Friday after Iran signaled it would soon respond to an international proposal on its nuclear program. Nymex crude oil futures for August delivery were down $1.18 to $144.11 in electronic trading. The contract closed Thursday at $145.29 a barrel -- the loftiest closing level ever for the exchange -- after hitting a record, intra-day high of $145.85. Iranian state radio said the country's top nuclear negotiator told European Union foreign policy chief Javier Solana by phone that Iran would present its response Friday, the Associated Press reported. The EU has offered Iran incentives to stop uranium enrichment.
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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Goldman: European banks could need another $94 billion
Friday, July 4, 2008
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LONDON (MarketWatch) -- Goldman Sachs said Friday that European banks could need to raise around 60 billion euros ($94 billion) in additional capital, or withhold dividend payments for a year, if recent moves by several banks to strengthen their balance sheets set a new benchmark for capital levels. The broker added that figure could rise to over 90 billion euros if a turn in the European credit cycle triggered losses in line with those seen in the early 1990s. The broker made several rating changes, including downgrading Swedbank , Carnegie and Bankinter to sell from neutral, cutting Banco Santander to neutral from buy on valuation grounds and upgrading Handelsbanken to neutral from sell. Goldman said it's cut earnings estimates through 2010 for over 40 banks and its forecasts now stand, on average, 12% below consensus. 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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Air France mulling train joint venture: report
Friday, July 4, 2008
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LONDON (MarketWatch) -- Air France is mulling a joint venture that could see it offer high-speed rail travel, the BBC reported on its Web site on Friday. The airline is studying a possible tie-up with Veolia , a French utility that also runs several rail services. Under the plans, the BBC reported, Veolia would run trains from Air France's hub airport in Paris to other destinations. 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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J Sainsbury shares rise after Qatar ups stake to 26%
Friday, July 4, 2008
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LONDON (MarketWatch) -- Shares in British supermarket group J Sainsbury rose 1.7% in London on Friday after Qatar Holding upped its stake in the firm to 26%. Qatar Holding increased its shareholding by 12.37 million shares to 454.5 million shares. 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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Bradford & Bingley shares drop after TPG backs out
Friday, July 4, 2008
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LONDON (MarketWatch) -- Shares in Bradford & Bingley dropped sharply Friday after private equity group TPG Capital backed out of a deal to pump cash into the struggling U.K. mortgage bank.
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London Markets: Marks & Spencer touches multi-year lows as London drops
Friday, July 4, 2008
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Shares in retailer Marks & Spencer fell to a level not seen since late 2001 on Friday, amid continuing gloom about how retailers are going to cope as growth in the U.K. economy slows.
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Europe Markets: Banks, miners pull Europe lower; UBS surges
Friday, July 4, 2008
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European shares drifted lower on Friday in subdued trade as banks declined and miners also lost ground, though UBS rallied after the Swiss bank quelled fears that it would have to make another major fund raising effort.
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UBS expects to roughly break even, doesn't need more cash
Friday, July 4, 2008
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Swiss banking giant UBS said Friday that it expects to roughly break even in the second quarter, after a 3 billion Swiss franc ($2.93 billion) tax credit helped offset further write-downs, and added it doesn’t need to raise more capital.
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Taiwan, China resume flights for first time since 1949
Friday, July 4, 2008
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Taiwanese and Chinese airline shares traded mixed Friday after the resumption of direct travel links across the Taiwan Straits, the first since the Kuomintang fled to the island in 1949 after losing the civil war to the Communist Party.
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Currencies: Dollar holds gains but doesn't extend them against rivals
Friday, July 4, 2008
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The dollar held steady but took no new ground against major rivals in Friday’s Asian trading, with major currency pairs expected to remain range-bound since U.S. markets are closed for a holiday.
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Merrill said in talks to sell Bloomberg stake to NYC Mayor
Friday, July 4, 2008
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LONDON (MarketWatch) -- Merrill Lynch is in talks to sell its stake in financial news service Bloomberg to a blind trust run by New York City Mayor Michael Bloomberg, according to a report in The New York Post, citing unnamed sources. The sale is part of a broader plan by cash-strapped Merrill to raise approximately $50 billion through an array of asset sales, the newspaper reported, citing bankers who have looked at marketing materials. The two sides are in active negotiations, sources said. Merrill also is working on selling its 49% stake in BlackRock and looking at ways to shore up its balance sheet.
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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Ryanair's passenger traffic rose 19% in June
Friday, July 4, 2008
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LONDON (MarketWatch) -- Ryanair Holdings , Europe's largest low-cost airline, on Friday said it carried 5.17 million passengers in June, up 19% from the year-ago period. Load factor, a measure of how full an airline's planes are, slipped to 84% from 85% in June 2007. 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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FL Group to take 39% stake in retail investor Baugur
Friday, July 4, 2008
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LONDON (MarketWatch) -- FL Group said that it will take a 39% stake in Baugur Group and change its name to Stodir. The transaction was conducted by means of a share swap and issuance of new shares in Stodir. Prior to this transaction, Baugur divested all its Icelandic assets and will now solely focus on retail investments in the U.K., Scandinavia and the U.S. Baugur's core operations will be managed out of London. Its retail investments include in the U.K. include frozen food store operator Iceland, department store chain House of Fraser, toy store Hamley's, fashion retailer Whistles and jewelery store operator Goldsmiths. It also holds investments in Danish department stores Magasin du Nord and Illum and U.S. department store Saks. 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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John Lewis sales down 1.9% in week to June 28
Friday, July 4, 2008
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LONDON (MarketWatch) -- Sales at privately-owned British retail chain John Lewis fell 1.9% to 130.14 million pounds in the week ended June 28, compared to the same point a year ago. "There is no doubt that trade in our shops proved challenging when compared to exceptional results last year," said Phil Hullah, commercial director. Sales for the John Lewis department store part of the business fell 8.3% to 53.01 million pounds, while sales at the firm's Waitrose food business advanced 3% to 77.13 million pound, in part due to better weather. 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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ITV cut to sell at ABN Amro on dividend fears
Friday, July 4, 2008
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LONDON (MarketWatch) -- ITV was cut to sell from hold by ABN Amro, as the broker sees further downside risk facing a deteriorating U.K. ad market, a potential dividend cut and further analyst downgrades. "Our recent channel checks with major U.K. media buyers have indicated the TV ad
market is starting to deteriorate, with the UK market seen down 2.5% to September 2008, from 1% previously," the broker said. 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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Marks & Spencer cut to sell from buy at Citigroup
Friday, July 4, 2008
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LONDON (MarketWatch) -- Marks & Spencer was downgraded to sell from buy at Citigroup after the U.K. retailer's warning on Wednesday. "At
this early point in the current U.K. consumer down cycle, with growing input cost pressures across both the general merchandise and food businesses, the M&S profit and loss outlook still remains opaque and earnings forecast confidence low," the broker said. 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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Nomura Securities to improve training, screen staff: report
Friday, July 4, 2008
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HONG KONG (MarketWatch) -- Nomura Securities Co., the securities unit of Nomura Holdings Inc. , will place more emphasis upon ethical standards when hiring new staff, strengthen training, and make other improvements to its information systems, as part of improvements to its business practices in the wake of an insider-trading scandal in April. Nomura Securities will submit the plan today, almost a week ahead of Thursday's deadline set by the financial regulator, the Financial Services Agency, the Nikkei newspaper reported Friday. 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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European shares in tight range, banks extend gains
Friday, July 4, 2008
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LONDON (MarketWatch) -- European shares held in a tight range on Friday with trading likely to be subdued with the U.S. closed for a holiday. Still, banks extended the previous session's gains after UBS unveiled a better-than-expected likely second-quarter result and said it won't need to raise new capital. UBS shares jumped 7% in Swiss trading. The U.K. FTSE 100 index fell 0.4% to 5,457.00, the German DAX 30 index traded flat at 6,355.00 and the French CAC-40 index inched down 0.2% at 4,337.08. 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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India's inflation surges 11.63% on-year
Friday, July 4, 2008
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HONG KONG (MarketWatch) -- India's inflation reportedly soared to 11.63% in the week to June 21 from the same period a year-ago, strengthening chances of more policy measures by the country's central bank to control prices. The wholesale price index-based inflation measure stood at 11.42% in the preceding week. The latest WPI reading is more than double the Reserve Bank of India's stated comfort level of 5.5%. 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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J.P. Morgan reportedly to complete European jobs cuts in Q3
Friday, July 4, 2008
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LONDON (MarketWatch) -- J.P. Morgan is expected to cut up to 10% of its European investment banking staff by the end of the third quarter, the Financial Times reported on Friday. Staff reductions have been taking place in mergers and acquisitions and equity and debt capital markets businesses, especially at vice-president level, the paper reported, citing people familiar with the process. The jobs cuts started several months ago, the paper said. 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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Jon Friedman's Media Web: Baseball's dream: Cubs win the World Series!
Thursday, July 3, 2008
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Much of the baseball world is praying for the Chicago Cubs to reach the World Series for the first time since 1945 -- and go on to win the Fall Classic for the first time since 1908.
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Bradford & Bingley to enlarge rights issue as TPG withdraws
Thursday, July 3, 2008
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LONDON (MarketWatch) -- Stricken U.K. mortgage bank Bradford & Bingley said late Thursday that private equity group TPG Capital has withdrawn from a deal to inject cash, but that major shareholders will still back a 400 million pound ($793 million) capital raising. The bank said TPG withdrew after rating agency Moody's downgraded the group's long-term debt ratings to Baa1 from A3. The private equity firm had been planning to inject 179 million pounds in return for a 23% stake, with a rights issue bringing the total cash injection to 400 million pounds. But Bradford & Bingley said the cash shortfall will be covered through an enlarged rights issue, which is supported by a number of its largest shareholders, including M&G Investment Managers, Legal & General Investment Management and Standard Life. The price of the rights issue will be unchanged at 55 pence a share. 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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UBS sees Q2 result around break-even, no need for new equity
Thursday, July 3, 2008
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LONDON (MarketWatch) -- Swiss investment bank UBS said Friday that second-quarter results to be released on Aug. 12 are likely to be at or slightly below break-even. At the end of the quarter, UBS expects its Tier 1 capital ratio to be approximately 11.5% and has no need to raise new equity. UBS said that positive contributions from global wealth management and business banking and from global asset management were offset by a loss in its investment bank operations. Further market deterioration led to writedowns and losses on previously disclosed risk positions, in particular credit valuation adjustments on monoline insurance exposures. Group net new money was negative for the period, UBS added. 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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Mark Hulbert: What Dow Theory says about recent market action
Thursday, July 3, 2008
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ANNANDALE, Va. (MarketWatch) -- When the Dow ended the trading session this past Wednesday 20.8% below its close of Oct. 10, it did more than officially confirm that we're in a bear market.
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Asia Markets: Nikkei 225 moves in a range as region mixed
Thursday, July 3, 2008
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HONG KONG (MarketWatch) -- Asian markets were mixed Friday, with Sydney shares rising as high crude-oil prices lifted resource firms such as BHP Billiton, while Samsung Electronics Co. and Hynix Semiconductor Inc. dropped in Seoul after U.S. technology stocks dropped overnight.
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Origin Energy rejects BG Group's $13.3 billion takeover bid
Thursday, July 3, 2008
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HONG KONG (MarketWatch) -- Origin Energy Ltd. [s; au:org], Australia's largest coal seam gas producer, said Friday it board will recommend shareholders reject BG Group's A$13.8 billion takeover bid ($13.3 billion), saying the offer does not adequately reflect the company's assets and business prospects. In June Britain's BG brought forward an A$15.50-per share hostile takeover bid, the same price it had offered in friendly talks held in May. Origin's board rejected that earlier offer May 30 and invited proposals on how to develop the company's coal seam gas reserves. Origin said in a statement to the Australian Stock Exchange Friday its gas reserves estimates have risen significantly, crude oil prices have jumped 10% and higher valuations have been assigned to liquid-natural-gas projects since the original BG offer. 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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TaxWatch: New rule makes filing easier for those in partnerships, estates
Thursday, July 3, 2008
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Investors and beneficiaries should be jubilant about the Internal Revenue Service’s recent announcement that it’s cutting to five months from six the extension of time to file certain business and trust tax returns
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Thomas Kostigen's Ethics Monitor: Logic of off-coast oil drilling is deeply flawed
Thursday, July 3, 2008
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Coastal drilling for oil is mindless, not only from a supply perspective but from an environmental perspective.
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Top Ten: The week's top news and analysis, June 30-July 3
Thursday, July 3, 2008
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The U.S. market week may have been truncated by Independence Day, but it emphasized instead interdependence, whether between E.U. monetary policy and U.S. stocks; or Wall Street and Washington; or Israel's foreign policy and the price of crude oil; or, staying in the commodities sphere, between the prices of sugar, corn and soybeans and, again, that of crude; or even Dick Grasso and the ultimate ignominy of his wayward foes.
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Realty Q&A: Direction of interest rates critical factor in refinancing
Thursday, July 3, 2008
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I am about to refi my mortgage, which is going to switch to an adjustable rate in the next 60 days. I plan to remain in my house for the next10 years. I am looking for an intelligent and independent view of the current rate situation and I believe you would have that.
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After rough first half, the dollar is down, but not out
Thursday, July 3, 2008
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At the beginning of the second half of 2008, the dollar is mostly down but it remains above its lows against major rivals, signaling potential for a rebound.
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Canadian Markets: Majority of Canadian stocks fall, but market rises
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) -- Most Canadian stocks posted losses Thursday, but advancers rose enough to erase shortcomings as equities finished up more than 100 points in Toronto.
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Vital Signs: Makers of high fructose corn syrup want to sweeten its image
Thursday, July 3, 2008
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Check the label of even a mildly sweet packaged food product these days and you’re likely to find an ingredient called high fructose corn syrup.
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Stocks to Watch: Stocks in focus for Monday
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Monday's session are Marshall & Ilsley Corp., VeriSign Inc., and certain airlines.
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Bear portfolio worth $28.9 billion, down $1.1 billion, Fed says
Thursday, July 3, 2008
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The Bear Stearns portfolio that’s being mostly financed by the Federal Reserve was worth $28.89 billion at the end of June, down from $30 billion in mid-March.
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Asian markets mixed in early trading
Thursday, July 3, 2008
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HONG KONG (MarketWatch) -- Asian markets were mixed early Friday, with Japanese indexes wavering between positive and negative territories as gains in energy producers such as Inpex Holdings Inc. were countered by losses in shipping and airline stocks. The Nikkei 225 Average slipped 0.1% to 13,254.26, after dropping in the previous 11 sessions. The broader Topix index rose 0.2% to 1,300.58, after flirting with losses earlier. Elsewhere, South Korea's Kospi fell 0.5% to 1,599.27 and Australia's S&P/ASX 200 rose 0.8% to 5,032.50, while New Zealand's NZX 50 index gained 0.9% to 3,121.83. 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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Marshall & Ilsley warns of big loss from housing market woes
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) -- Marshall & Ilsley Corp. issues surprise profit warning as the lender sets aside more money to cover loan losses from the slumping housing market.
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Internal Facebook valuation points to strategic merit
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) -- Court documents have revealed an internal valuation at Facebook Inc. far below the $15 billion cited publicly at the time Microsoft Corp.'s investment in the popular social networking site, reflecting its immense strategic value in the eyes of the software giant.
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NewsWatch: U.S. stocks advance as employment report comes as expected
Thursday, July 3, 2008
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NEW YORK (MarketWatch) -- U.S. stocks end mostly higher, offering a benign reaction to the government's report on employment, which fell only slightly more than expected in June, offsetting worries that the ailing economy is getting worse.
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Ambac plans buyback after stock offering from March is complete
Thursday, July 3, 2008
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Ambac Financial says that an offering of new shares that was supposed to raise more than $1 billion in March hasn't closed yet.
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Discuss
Washington Calendar: Washington events for July 7 - 11
Thursday, July 3, 2008
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House and Senate resume session.
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Discuss
U.S. energy outlays fall to 1971 pace, S&P says
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) -- Even as oil prices mark new records, a Standard & Poor's report said Wednesday it expects Americans to spend the same portion of their household income on energy as they did the year the Ed Sullivan Show went off the air.
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Health insurers tumble after analyst's dire note
Thursday, July 3, 2008
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The nation's health insurers tumble into the red after an analyst issues dire warnings about the industry's prospects.
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Radian jumps; insurer pays fewer quarterly claims than expected
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) - Radian Group Inc. shares jumped 32% on Thursday after the mortgage insurer said it paid fewer claims than expected during the second quarter.
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Discuss
Crude futures close in uncharted territory
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) -- August crude closed at $145.29 a barrel Thursday in New York, up $1.72 for the session. It's up 3.6% from Friday's closing level as traders continued to show concern over global production. Crude is "finding support here as it pushes higher towards $150," said Zachary Oxman, a senior trader at Wisdom Financial. "Watch for higher lows as crude moves up towards $150 within the next week." 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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Northwest Airlines total June traffic, capacity rises
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) -- Northwest Airlines Corp. said Thursday its total June traffic rose 4.4% to 7.26 billion revenue passenger miles from a year ago. A revenue passenger mile equals one passenger flown one mile. June capacity rose to 8.37 billion available seat miles from last year. Load factor, or the percentage of available seats filled with passengers, dropped to 86.8% from 88% a year ago. 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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3,600 hours in Beijing: NBC's Games coverage to raise the bar
Thursday, July 3, 2008
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It could be the most grueling marathon in Olympic history -- and that’s before you throw in Beijing’s feared summertime heat and smog.
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Latin American Markets: Chile falls 2% after stronger-than-expected inflation report
Thursday, July 3, 2008
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LOS ANGELES (MarketWatch) -- Latin American stocks lose, led by a more than 2% drop in Chilean stocks after a jump in consumer prices strengthened the prospect that the central bank will raise its key interest rate.
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Movers & Shakers: Thursday's biggest gaining and declining stocks
Thursday, July 3, 2008
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Among the companies whose shares are expected to see active trade in Thursday’s abbreviated session are Abbott Labs, AirTran, Nvidia, Toyota, UBS, UnitedHealth and Yahoo.
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Discuss
Metals Stocks: Gold closes almost $13 lower as dollar rises after jobs data
Thursday, July 3, 2008
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Gold futures close with a loss of more than 1%, pressured as the U.S. dollar gains ground, but the precious metal still posts a gain of more than $2 an ounce for the holiday-shortened week.
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Nvidia warning clouds outlook for chips sector
Thursday, July 3, 2008
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A cautionary tone prevails across the chips sector after Nvidia Corp. lowers its forecast and reports a production glitch charge, sending the chipmaker's stock plummeting and pulling the entire sector down with it.
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Biotech Stocks: Euro stocks push drug indexes higher
Thursday, July 3, 2008
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The benchmark drug-stock indexes rise for a second day, boosted once again by strong buying of shares of European drug makers such as Sanofi-Aventis.
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Financial Stocks: Stocks end lower on jobs data, European rate hike
Thursday, July 3, 2008
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NEW YORK (MarketWatch) - U.S. financial stocks finished lower Thursday in a holiday-shortened session, unable to shake off worries about higher-than-expected job losses and a rate hike by the European Central Bank.
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Marshall & Ilsley sees second-quarter loss on housing market
Thursday, July 3, 2008
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SAN FRANCISCO (MarketWatch) -- Marshall & Ilsley Corp. said Thursday it expects to take a higher-than-expected provision for loan and lease losses in the second quarter because of the poor housing market. The financial services firm said it expects to take a provision of at least $900 million in the second quarter, up from a previously expected second-quarter charge of $415 million. Marshall & Ilsley said it expects a second-quarter loss of $1.50 to $1.60 a share, but expects a profit in the third quarter. Analysts surveyed by FactSet Research estimated a second-quarter profit of 37 cents a share. 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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Soleil upgrades Alcoa to hold from sell
Thursday, July 3, 2008
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Soleil Equity Research on Thursday upgraded its rating on shares of aluminum giant Alcoa Inc. to hold from a sell rating the broker placed on the stock at the end of May. Alcoa's shares have fallen more than 20% to $32.78 in the past five weeks against close-to-9% drop in S&P 500, and "the new, lower price justifies a hold rating, not a sell," Soleil said in a note to clients. The researcher's target price for Alcoa shares remains at $40. The Dow Jones Industrial Average component is slated to report second-quarter earnings on Tuesday. Soleil expects earnings per share of 65 cents. On Thursday, Alcoa shares closed a short trading session on the NYSE up 2.1%. 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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