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Nvidia stock rises after new graphics card announcementExternal Link

Nvidia Corp. stock rose more than 2% in afternoon trading Monday following the company's unveiling of its next-generation gaming graphics cards. Prior to the announcements from a gaming conference in Germany, Nvidia stock was down roughly 1%, as the S&P 500 index rose 0.3%. The new graphics cards that Nvidia is calling the "GeForce RTX" series range from $499 to $1,199 and deliver substantial performance improvements over the prior generation as well as additional ray tracing features, among other advances the company said Monday. Powered by the Turing GPU architecture, the three new cards unveiled by Nvidia will deliver six times the performance over prior models, the company said. Nvidia dropped nearly 5% after the company reported earnings last 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.


Mon, 20 Aug 2018 18:51:17 GMT
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Gold prices rose nearly 0.9% for biggest one-day gain month to dateExternal Link

Gold prices climbed Monday, bouncing back a bit after suffering from their worst weekly decline in more than year. December gold rose $10.40, or roughly 0.9%, to settle at $1,194.60 an ounce. That was the biggest single-session dollar and percentage gain since July 31, according to FactSet 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.


Mon, 20 Aug 2018 18:02:58 GMT
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DOE offers 11 mln barrels of SPR crude as part of previously planned salesExternal Link

The U.S. Energy Department's Office of Fossil Energy on Monday announced a notice of sale of 11 million barrels of sour crude oil from the Strategic Petroleum Reserve. The move is part of previously announced sales that are expected to draw down reserves by a total of 25 million barrels over three consecutive years, beginning this year. Bids for the 11 million barrels of crude must be received not later than Aug. 28, with delivery to take place in October and November, the government agency said. Sept. West Texas Intermediate crude briefly pared earlier gains as the market digested the news, then continued higher, tacking on 46 cents, or 0.7%, to $66.37 a barrel in afternoon dealings 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.


Mon, 20 Aug 2018 17:43:20 GMT
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SEC charges unregistered brokers who sold shares in fraud to retail investorsExternal Link

The Securities and Exchange Commission charged five individuals and four companies on Monday for allegedly selling shares of now-bankrupt Ponzi scheme Woodbridge Group of Companies LLC to retail investors even though they were not registered broker-dealers. The SEC previously charged Woodbridge Group, which filed for bankruptcy in December 2017, and its owner with operating a $1.2 billion Ponzi scheme. Barry M. Kornfeld, Ferne Kornfeld, Lynette M. Robbins, Andrew G. Costa, Albert D. Klager, and their companies, sold more than $243 million of Woodbridge Group unregistered securities to more than 1,600 retail investors. Barry Kornfeld also allegedly violated a prior SEC order which barred him from acting as a broker. The defendants allegedly touted Woodbridge as a "safe and secure" investment to potential investors at seminars and a "conservative retirement and income planning class" they taught at a Florida university as well as in newspaper ads and on one defendant's radio program. Once Woodbridge filed for bankruptcy, investors stopped receiving monthly interest payments and have not received a return of their investment principal. The SEC's investigation is continuing.

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.


Mon, 20 Aug 2018 16:17:57 GMT
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Nike upgraded on 'lean' inventory, direct-to-consumer shiftExternal Link

Nike Inc. was upgraded to overweight from neutral at Piper Jaffray on a number of factors including the company's "lean" inventory, its shift to direct-to-consumer sales, its product pipeline and expansion in China. Piper Jaffray raised its price target to $93 from $72. Analysts led by Erinn Murphy think the athletic category is an "extremely healthy" one with North America tracking for acceleration thanks to inventory improvements. "Consumer shift to digital commerce is a significant tailwind for athletic brands given low Amazon risk and the accelerating increase in revenue per unit it is driving," analysts wrote. Analysts think both Nike and Adidas AG can be winners, with both contributing equally to category growth and the shift to digital keeping Amazon.com Inc. at bay. Susquehanna Financial Group also upgraded Nike on Monday. Nike shares are up 3% in Monday trading, and 31.3% for the year to date. The S&P 500 index has gained nearly 7% for the period.

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.


Mon, 20 Aug 2018 16:15:44 GMT
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