Latest News In Stock Market Investment Research – June 18, 2010

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BP siphons 25,000 barrels from leak in last day

18 Jun 2010 at 8:31am

NEW YORK (MarketWatch) — BP PLC managed to increase the amount of oil collected from the leaking Macondo well in the Gulf of Mexico to 25,290 barrels on Thursday, eclipsing its earlier pace of 15,000 barrels a day, the oil major said in its latest update. BP ramped up use of the Q4000 semi-submersible rig to draw oil from the well’s blow-out preventer. BP also continues to draw oil from a containment cap system put in place in early June. BP flared 9,270 barrels of oil from the Q4000. BP continues to install a new free standing riser pipe system for implementation in July.

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.


Motricity shares fall 2.5% in IPO

18 Jun 2010 at 8:24am

SAN FRANCISCO (MarketWatch) – Shares of Motricity Inc. fell more than 2.5% Friday as the provider of Web-based mobile data services debuted on the Nasdaq Global Market. The Bellevue, Wash.-based company had offered to sell 6 million shares at $10 a share. Initially, the company had offered to sell 6.8 million shares at a price range of $14 to $16 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.


Mexico peso, stocks up after key rate held steady

18 Jun 2010 at 8:04am

LOS ANGELES (MarketWatch) — Mexico’s currency rose against the U.S. dollar Friday morning after the Bank of Mexico met market expectations by leaving the country’s key interest rate unchanged at 4.5%. The decision comes amid a slower pace of inflation and soft growth in Latin America’s second-largest economy. The currency recently traded at 12.523 pesos per greenback, compared with 12.592 pesos on Thursday. The IPC equity index was up 0.4% at 32,893. Mexican stocks on Thursday snapped a seven-session winning streak.

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.


Bank of Mexico keeps rates at 4.5%

18 Jun 2010 at 8:03am

NEW YORK (MarketWatch) — The Bank of Mexico kept its overnight interbank funding rate at 4.5% on Friday, as widely expected by currency analysts. “Mexico’s downturn was notably stronger and the recovery is slightly weaker,” strategists at Commerzbank said before the decision. “We expect the central bank to take its first rate step next year.”

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.


Canadian stocks lifted by gold

18 Jun 2010 at 7:39am

SAN FRANCISCO (MarketWatch) — Canadian stocks rose Friday as gold lifted Toronto’s main index and financial stocks traded heavily. The S&P/TSX Composite Index [CA: ISPTX] increased 0.2% to 11,965. Canada’s largest gold companies — Barrick and Goldcorp — were both up more than 1%. The S&P/TSX Capped Financials index was up 0.2% and trading well above average daily volume. The S&P/TSX Capped Diversified Metals index was up 0.3%, with Hudbay Minerals as the top advancer and Inmet Mining Corp. as the main decliner.

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.


Crude oil reverses to gains, tracking stocks

18 Jun 2010 at 7:36am

SAN FRANCISCO (MarketWatch) — Crude oil futures shook off initial weakness on Friday, reversing to gains as stocks also stood on positive territory. The thinly traded front-month July contract added 16 cents, or 0.2%, to $76.93 a barrel. The most-active August contract still on the red, down 7 cents to $77.96 a barrel but paring losses from open.

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.


Retail stocks edge up; Walgreen, CVS make up

18 Jun 2010 at 7:05am

NEW YORK (MarketWatch) — Retail stocks edged up on Friday as pharmacy chains Walgreen Co. and CVS Caremark Corp. made up their differences and reached an agreement under which participants in CVS pharmacy benefit management plans can continue to fill their prescriptions at Walgreen. The S&P Retail Index rose 0.3% to 433.92. Walgreen was up 5.7%. CVS rose 4.4%. Among the decliners, Kroger Co. was down 1.5% while rival Safeway Inc. fell 2% after both supermarket chains’ stocks were cut to underperform by Bank of America-Merrill Lynch.

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.


HCP announces $445 mln stock offering

18 Jun 2010 at 6:44am

NEW YORK (MarketWatch) — HCP announced Friday it priced a 13.5 million common stock offering at $33.00 a share. The health-care real estate investment trust intends to use the $445.5 million in proceeds to pay down the company’s revolving credit facility, $102 million of which was borrowed for the acquisition of four senior homes. The deal was originally set to issue 12 million shares, but expanded due to investor demand. HCP opened down nearly 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.


Tech stocks claim slight early edge

18 Jun 2010 at 6:44am

SAN FRANCISCO (MarketWatch) — Technology stocks looked to close the week on an upbeat note Friday, as bellwethers such as Cisco Systems Inc. , Hewlett-Packard Co. and Adobe Systems Inc. all advanced. The Nasdaq Composite Index rose 2.5 points to 2,309 and the Philadelphia Semiconductor Index also posted a small 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.


Airline stocks mixed with range-bound Dow

18 Jun 2010 at 6:40am

NEW YORK (MarketWatch) — Airline stocks were mixed Friday on light trading with American parent AMR Corp. and Delta Air Lines down slightly. The NYSE Arca Airline Index slipped a fraction to 41.06 with eight of its 13 components trading down. For the week, the sector is heading for a gain of nearly 4%. Shares of AMR slipped a fraction to $8.68, Delta slipped less than 1% to $14.07 and Continental rose a fraction to $24.79. Volume was light except for SkyWest , JetBlue Airways and Alaska Air . The Dow Jones Industrial , meanwhile, was up 0.1% to 10,442.

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 higher with weekly gains in sight

18 Jun 2010 at 6:41am

NEW YORK (MarketWatch) — U.S. stocks edged higher at Friday’s start, with all three major indexes poised for weekly gains, with choppy trade likely due to a quarterly expiration of options and futures contracts. The Dow Jones Industrial Average rose 18.29 points to 10,452.46. The S&P 500 gained 1.2 points to 1,117.24. The Nasdaq Composite added 3.06 points to 2,310.22.

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.


Gold ETF rises to new all-time high

18 Jun 2010 at 6:39am

BOSTON (MarketWatch) — The $52.3 billion SPDR Gold Shares was up about 1% early Friday and traded above $123 a share for the first time in its history. The exchange-traded fund’s previous all-time high was $122.45 set earlier this month on June 8. The ETF is up roughly 14% so far in 2010 as a result of the strength in gold prices.

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.


Energy stocks edge down in early trades

18 Jun 2010 at 6:36am

NEW YORK (MarketWatch) — Energy stocks traded little-changed in early action on Friday. The NYSE Arca Oil Index dipped fractionally to 969. The NYSE Arca Natural Gas Index fell 0.2% to 542. The Philadelphia Oil Service Index dipped fractionally to 180.

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.


Serbia defeats Germany 1-0 in World Cup shock

18 Jun 2010 at 6:25am

LONDON (MarketWatch) — In one of the biggest upsets in recent World Cup history, Serbia defeated Germany 1-0. Germany was playing with ten men after Miroslav Klose picked up his second yellow card in the first half. Germany also missed a penalty kick in the second half — their first missed penalty since 1982.

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.


Military spending rose to $1.53 trillion in 2009

18 Jun 2010 at 6:18am

NEW YORK (MarketWatch) — World governments ramped up their military spending in 2009 despite a financial crisis and the looming threat of recession, according to a Friday release from the Stockholm International Peace Research Institute. For 2009, military spending rose 6% in real terms to $1.53 trillion, and is 49% above spending in 2000, the research firm said. Of the top 15 military buyers, 14 increased military spending in 2009, though the U.S. alone accounts for 43% of total military-related purchases. “Over the past year, 17 major armed conflicts carried on in such places as Colombia, the Democratic Republic of the Congo, the Palestinian territories, the Philippines and Somalia,” the research center said. “While some greater stability came to Iraq, conditions worsened in Afghanistan and violence in Pakistan’s Swat Valley region escalated in 2009.”

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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June 18 2010 07:53 am | Stock Market News

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