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Carnival Corp.'s Chinese joint venture to order first cruise ships built in ChinaExternal Link

Carnival Corp. said Wednesday that its joint venture in China has agreed to order the first cruise ships built in China for use in the Chinese market. The agreement is an update to terms of the September 2016 agreement between Carnival and China State Shipbuilding Corp. (CSSC) The deal is for two ships, which will be built by CSSC and Italy-based Fincantieri S.p.A. with the first expected to deliver in 2023. There's an option for four additional ships. The joint venture, announced in 2015, includes plans to launch a cruise brand in China using ships purchased from Carnival's existing fleet and then to add Chinese-built ships to accelerate growth and meet increasing demand. Carnival holds a minority interest in the venture. Carnival Corp. shares are little changed in premarket trading, and up 16.4% for the last year. The S&P 500 index is up 21.6% 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.


Wed, 22 Feb 2017 13:15:38 GMT
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Argos Therapeutics cancer treatment study recommended to be discontinued for futilityExternal Link

Argos Therapeutics Inc. said an independent data monitoring committee recommended the Phase 3 trial of its treatment for renal cell carcinoma be "discontinued for futility," based on an interim data analysis. The committee said the study as unlikely to demonstrate a statistically significant improvement in overall survival, which is the study's primary endpoint. "We are extremely disappointed with these results, which included seventy-five percent of the targeted events needed to permit the primary analysis and assessment of overall survival in the study," said Argos Chief Executive Jeff Abbey. Argos said it will determine the next steps for the treatment after it discusses the data with the Food and Drug Administration. The stock, which is currently halted for news until 8:30 a.m. ET, has lost 12% over the past 12 months, while the S&P 500 has gained 7.4%.

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.


Wed, 22 Feb 2017 13:10:31 GMT
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Facebook may stream some MLB games this seasonExternal Link

Facebook Inc. is in discussions with Major League Baseball to stream some games in the upcoming season, according to reports from Bloomberg and Reuters citing people close to the matter. The deal would mark the latest effort by sports leagues to use social media as a way to reach new viewers, particularly those in younger demographics who continue to cut the proverbial cable cord. In 2016, Twitter Inc. struck a similar deal to stream NFL Thursday Night Football games. According to Bloomberg, the MLB deal would also include one game a week. Shares of Facebook traded around $133.60 in premarket trade Wednesday, outperforming the S&P 500 . They've gained 10% in the past three months and 25% in the past year, while the index has increased 7% in three months and 22% in a 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.


Wed, 22 Feb 2017 13:00:21 GMT
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Aetna enters $3.3 billion accelerated share buyback programExternal Link

Aetna Inc. said Wednesday it has entered an accelerated share buyback with two dealers to repurchase shares worth $3.3 billion. The health insurer said it will execute the deal under its existing authorization and fund it with available cash. The company will pay $1.65 billion to each dealer on Wednesday and will receive an initial delivery of 10.4 million shares of its common stock. Shares were not yet active in premarket trade, but have gained 18% in the last 12 months, while the S&P 500 has gained 21.6%.

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.


Wed, 22 Feb 2017 12:51:30 GMT
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Parker Drilling's stock sinks after public stock offeringExternal Link

Shares of Parker Drilling Co. plunged 13% in premarket trade Wednesday, after the provider of drilling services to the energy industry launched a public offering of 12 million shares of common stock. That would boost the number of shares outstanding, currently at about 125.2 million, by nearly 10%. The company said it also granted the underwriters of the offering options to buy up to an additional 1.8 million shares, and that it launched a public offering of $50 million worth of convertible preferred stock. Parker Drilling plans to use the proceeds from the offerings for general corporate purposes. On Tuesday, the company said it ended 2016 with $210 million in total liquidity. The stock has soared 90% over the past 12 months, while the SPDR Energy Select Sector ETF has climbed 24% and the S&P 500 has rallied 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.


Wed, 22 Feb 2017 12:49:00 GMT
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