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IMF chief Christine Lagarde drops out of Saudi conference: reportExternal Link

Christine Lagarde, the managing director of the International Monetary Fund, will not attend an investment conference in Saudi Arabia later this month amid global condemnation over the disappearance and suspected murder of a Saudi journalist. An IMF spokesperson said Lagarde's trip "is being deferred," CNBC reported Tuesday night. The IMF did not give a reason for postponing the trip. Since the disappearance of Jamal Khashoggi two weeks ago, a number of prominent business leaders and media organizations have pulled out of the Future Investment Initiative conference in Riyadh. U.S. Treasury Secretary Steve Mnuchin is reportedly still planning to attend, though a final decision may be made this 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.


Wed, 17 Oct 2018 02:40:28 GMT
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SEC overturns NYSE, Nasdaq market data fee increases, Wall Street Journal reportsExternal Link

The Wall Street Journal reported Tuesday the Securities and Exchange Commission ruled on Tuesday that the country's largest stock exchanges didn't sufficiently justify increases in fees they charge for certain market-data products that brokers and traders consider to be essential to their business, according to a source. The SEC, in an order released late Tuesday, overturned prior fee increase approvals granted to the New York Stock Exchange and Nasdaq for specially designed data feeds they sell. Those data feeds reveal far more detail about market activity than the ticker tape that investors see on financial-news stations. The SEC's action now casts doubt on the ability of the big U.S. stock exchanges to extract additional profits from the rest of the financial industry by selling information on stock orders at ever-higher rates. The SEC's action comes in response to a long-running lawsuit that pitted Wall Street's largest brokerages against the exchanges selling market data.

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.


Tue, 16 Oct 2018 21:45:10 GMT
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Roku to resume sales in Mexico, stock gains in late tradingExternal Link

Roku Inc. shares gained almost 4% in late trading Tuesday after the company said it would resume sales in Mexico. Roku device sales had been banned in Mexico for more than a year amid a court battle resulting from hackers offering pirated content from HBO, ESPN and others through Roku devices. In an announcement Tuesday afternoon, Roku said that a ruling in the case opened the door for sales to resume. "We are grateful for our customers in Mexico who, despite the sales ban, continued to stream more and more hours; and for our retail partners and content providers who supported us throughout this past year," Roku General Counsel Stephen Kay said in the news release. "We look forward to launching the latest Roku devices in Mexico soon and giving customers an even richer streaming experience." Roku stock gained about 3.7% in late trading, which could have also been influenced by strong earnings results from Netflix Inc. , which helped develop Roku's streaming dongles before allowing the company to establish itself independently.

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.


Tue, 16 Oct 2018 21:26:58 GMT
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Oil futures climb in electronic trade as API data reportedly shows a decline in U.S. crude supplyExternal Link

Oil futures climbed in electronic trading late Tuesday after the American Petroleum Institute reported that U.S. crude supplies fell by 2.1 million barrels for the week ended Oct. 12, according to sources. The API data also showed supplies of gasoline declined by 3.4 million barrels, while distillates fell 246,000 barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday. Analysts polled by S&P Global Platts expect the EIA to report a climb of 1.88 million barrels in crude supplies. They also expect supply declines of 1.52 million barrels for gasoline, and 1.5 million barrels for distillates. November crude was at $72.23 a barrel in electronic trading, up from the $71.92 settlement on the New York Mercantile Exchange.

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.


Tue, 16 Oct 2018 20:42:10 GMT
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Lam Research stock gains on earnings optimismExternal Link

Lam Research Corp. shares gained in late trading Tuesday after the chip-equipment company forecast strong earnings to come despite doubts about the sector. The chip-equipment sector has been volatile for months due to concerns about chip makers' plans for production, with Lam Research stock falling more than 21% so far this year. Shares gained more than 4% in after-hours action Tuesday, though, after the company reported fiscal first-quarter results and said it expects to beat expectations in the current quarter. Lam claimed income of $533 million, or $3.23 a share, on revenue of $2.33 billion, down from $2.38 billion a year ago. After accounting for amortization and other effects, the company claimed profit of $3.36 a share, down from $3.46 a share a year ago. Analysts on average expected Lam to report adjusted earnings of $3.22 a share on sales of $2.66 billion, according to FactSet. For the fiscal second quarter, Lam predicted adjusted earnings of $3.45 a share to $3.85 a share, well higher than analysts' average expectations of $3.29 a share. Lam expects revenue of $2.35 billion to $2.65 billion, while analysts were expecting revenue of $2.49 billion.

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.


Tue, 16 Oct 2018 20:40:04 GMT
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