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Icahn has bought more Herbalife shares: CNBCExternal Link

Billionaire investor Carl Icahn told CNBC late Friday he has "bought another 2.3 million shares" of Herbalife Ltd. , the latest in a tug of war between Icahn and fellow billionaire investor Bill Ackman over the nutritional-supplement company. Earlier Friday, The Wall Street Journal reported Icahn recently discussed selling his Herbalife stake to a group of investors including Ackman. The report cited people familiar with the matter. Shares of Herbalife gained 4.1% in late Friday trading after ending the regular session down 2.3%.

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.


Fri, 26 Aug 2016 21:03:52 GMT
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Caesars shares fall after judge blocks shield from bondholder suitsExternal Link

Caesars Entertainment Corp. shares fell in the extended session Friday after a bankruptcy court judge refused to shield the company from bondholder lawsuits. Caesars shares dropped 12% to $6.60 after hours. Late Friday, a U.S. bankruptcy judge in Chicago said that Caesars Entertainment, the parent company of the bankrupt Caesars Acquisition Co., could not shield itself from about $11 billion in claims from bondholders, according to a Reuters report.

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.


Fri, 26 Aug 2016 20:50:55 GMT
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Stocks end volatile session lower after hawkish Yellen, Fischer statements External Link

U.S. stocks finished lower Friday after comments from Fed Vice Chairman Stanley Fischer doubled down on a speech by Federal Reserve Chairwoman Janet Yellen that asserted the case for a rate increase is gathering steam. The Dow Jones Industrial Average lost 53.01 points, or 0.3%, to end at 18,396.40, with the blue-chip gauge swinging in a more then 200-point range on the day in a choppy session. The S&P 500 index closed down 3.43 points, or 0.2%, at 2,169.04, but also pared its worst losses of the day. Meanwhile, the Nasdaq Composite Index bucked the trend, rising 6.71 points, or 0.1%, at 5,218.92. Elsewhere, the U.S. 10-year Treasury benchmark yield rose 5.9 basis points to its highest level since June 23, as government-bond traders appeared to take seriously the prospect of a rate hike as early as September. Higher rates tend to make existing bonds less attractive. In corporate news, Herbalife Ltd. ended the session down 2.3% lower on a report from The Wall Street Journal that Carl Icahn attempted to sell a large stake in the nutritional supplement company to parties including shortseller Bill Ackman. And St. Jude Medical Inc. closed in positive territory after the cardiovascular medical device maker refuted comments made by Muddy Waters Director of Research, Carson Block, who wrote in a research note that he believes "there is a strong possibility" that nearly half of St. Jude's revenue is about to disappear for about two years.

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.


Fri, 26 Aug 2016 20:10:13 GMT
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Oil futures gain for the session, but fall for the weekExternal Link

Oil futures settled higher for the session Friday, but suffered a decline of about 3% for the week. Prices found support from data revealing that the number of active U.S. oil rigs was unchanged for the week, following eight weeks of increases. Traders also assessed the likelihood of a interest-rate increase at the next Federal Reserve meeting September, following comments from the top two officials at the central bank. October WTI crude rose 31 cents, or 0.7%, to settle at $47.64 a barrel 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.


Fri, 26 Aug 2016 18:51:47 GMT
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BlackBerry restructures convertible debt to cut interest expenses; shares haltedExternal Link

BlackBerry Ltd. said it will notify holders of its 6% unsecured convertible debt that it will redeem all of the principal amount of the debt on Sept. 2. The debt will be redeemed at a price of 106.7212% of the outstanding principal amount. Prior to the redemption, the debt holders remain entitled to convert the debt to common stock at a price of $10.00 a share. The stock, which has been halted for news, last traded at $7.92, which is 21% below the conversion price. Separately, BlackBerry said it entered into an agreement with Fairfax Financial Holdings Ltd. and other institutional investors to issue 3.75% unsecured convertible debt for a total price of 4605 million. The deal is expected to close on Sept. 2. The debt will be convertible to common stock at $10.00 a share, and will be due Nov. 13, 2020. "The restructuring of our convertible debt will enable us to significantly reduce our interest expense and potential future dilution for our shareholders," said Chief Executive John Chen. The stock, which is slated to resume trading at 2:30 p.m. ET, has dropped 15% year to date, while the S&P 500 had gained 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.


Fri, 26 Aug 2016 18:10:48 GMT
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