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  • 09/25/2017 08:52:58

    Apple's 4-day stock tumble has been biggest drag on Dow industrials

    The Dow Jones Industrial Average on Monday, trying to avoid a three-session skid, will need help from shares of Apple which has been the biggest drag over the past several sessions. Dow component Apple Inc.'s shares have fallen for four straight sessions and has knocked off more than 50 points from the blue-chips gauge over that period, exacting the biggest toll on the price-weighted benchmark of any of its 30 components, according to WSJ Market Data Group. Apple pared its earlier Monday morning drop, but is still off about 1.2%, or $1.84, and looking at falling below $150.05, which would mark its lowest level since Aug. 1. A $1 move in any one of the Dow's components is equal to a 6.89-point swing in the average. In most recent trade, the Dow was trading off 44 points, or 0.3%, at 22,293, the S&P 500 index was down 8 points, or 0.3%, at around 2,494, while the Nasdaq Composite Index was down 0.9% at 6,368, as technology shares were under pressure from Apple's stock decline. Apple's retreat on Monday comes as Digitimes reported that Apple has told component suppliers to withhold part of the shipments of parts used in production of its iPhone X handset, citing sources from Taiwan-based upstream component suppliers. 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.

  • 09/18/2017 15:10:37

    Wall St. clings to records, helped by banks; tech falters

    (Reuters) - The S&P 500 ended slightly higher on Monday as financial stocks rose ahead of a Federal Reserve meeting, but the Nasdaq pared gains sharply as technology stocks lost ground late in the session.

  • 09/18/2017 14:03:54

    Wall St. edges higher, led by financials

    NEW YORK (Reuters) - The S&P 500 clung to a small gain on Monday, led by financial stocks ahead of a Federal Reserve meeting, while Nasdaq pared gains sharply as technology stocks lost ground late in the day.

  • 09/12/2017 21:22:47

    WhatsApp co-founder Brian Acton leaving Facebook

    WhatsApp co-founder Brian Acton announced his departure from the company Tuesday, three years after Facebook Inc. bought the messaging app for $22 billion. "After 8 years at WhatsApp, I have decided to move on and start a new chapter in my life," he said in a Facebook post. Acton said he intends to start a foundation "focused at the intersection of nonprofit, technology and communications." Acton ran WhatsApp's engineering team. His fellow co-founder, CEO Jan Koum, will remain at the company. Last week, Facebook said it would eventually start charging companies for some of WhatsApp's features as it seeks a path to monetization. In July, Facebook said WhatsApp had reached 1 billion daily active users, but that it will take a few years to start making money from the app. Facebook shares are up 17% in the past three months, and up 50% year to date, compared to compared to the S&P 500's gains of 3% and 12%, respectively.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.

  • 09/11/2017 14:07:38

    S&P 500 logs 31st closing record of 2017 as stock market bounces in 'relief rally'

    U.S. stocks on Monday kicked off the first full week of trading in September with a bang, underlined by the S&P 500 ending at a record, as a raft of meteorological and geopolitical jitters gave way to a re-emergence of appetite for assets perceived as risky. The S&P 500 index closed up 1.1% at 2,488, marking its first record close since Aug. 7, buoyed by gains in the technology and financials sectors. Financials, as gauged by the PowerShares KBW Bank Portfolio and the Financial Select Sector SPDR ETF booked their best daily rises since June 9, according to FactSet data. Bank stocks benefited from a resurgence in benchmark Treasury yields, with the 10-year Treasury note rising to 2.13%, compared with 2.05% late Friday. Higher yields support a banks's business models. The Dow Jones Industrial Average , meanwhile, jumped about 260 points, retaking is perch above 22,000, while the Nasdaq Composite Index closed up 1.1%. The technology sector has often been viewed as a gauge of Wall Street's tolerance for risk, seeing heavy bidding when investors feel bullish on the market. Monday's bounce was attributed to Hurricane Irma hitting Florida with less force than feared and North Korea refraining from conducting another missile test in the Korean Peninsula, factors that last week had helped push stocks and bonds mostly lower. The relatively milder impact of Hurricane Irma helped insurers, bracing for bigger liabilities from the storm, rally, highlighted by a 3.1% advance in the PowerShares KBW Property & Casualty Insurance Portfolio , a popular exchange-traded fund used to invest in the in the sector. Art Cashin, UBS's director of floor operations, on CNBC described Monday trading as a two-pronged "sigh of relief rally." In corporate news, shares of Apple Inc. bounced 1.8% ahead of what is expected to be the debut of a fresh lineup of iPhones and other products from the Cupertino, Calif.-based tech giant. 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.

  • 09/07/2017 14:09:52

    Markets Right Now: Banks, insurers weigh on stock market

    Stocks are closing mixed as steep losses for banks and insurance companies are partly offset by gains in health care and technology companies.

  • 09/05/2017 15:55:53

    GoDaddy slips as investors seek to sell shares in secondary offering

    GoDaddy Inc. shares slipped in the extended session Tuesday after the domain name company announced that several investors were selling shares in a secondary offering of its shares. GoDaddy shares declined 2.5% to $44.05 after hours, after closing up 0.5% during the regular session. GoDaddy said the offering consists of 20 million shares held by Kohlberg Kravis Roberts & Co., Silver Lake Partners, Technology Crossover Ventures, and YAM Special Holdings Inc., which is owned by GoDaddy founder Bob Parsons. GoDaddy has about 165 million shares outstanding. Morgan Stanley and Goldman Sachs are the bookrunners for the offering. GoDaddy will not receive proceeds from the offering but the company is also offering 50,000 shares to pay for transaction expenses. 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.

  • 09/05/2017 11:47:28

    BRIEF-Via, Daimler to design shared ride vehicle

    * Via and Daimler announce strategic investment and partnership to bring Via's technology to Europe and develop future mobility solutions

  • 09/05/2017 06:46:25

    Cellectis's stock plunges after leukemia treatment trials were put on hold

    Shares of Cellectis S.A. plunged 31% in active premarket trade Tuesday, after the company said two phase 1 trials of its leukemia treatment were put on hold after a fatality was reported. Volume was 194,000 shares about 45 minutes before the open, already more than the full-day average of about 131,000 shares. The Paris-based biopharmaceutical company said it was working closely with the Food and Drug Administration to resume the trials with an amended protocol, including a lower dosing. The stock, which had closed Friday at a 15-month high, had soared 90% year to date through Friday, while the iShares Nasdaq Biotechnology ETF had rallied 27% and the S&P 500 had climbed 11%.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.

  • 08/30/2017 14:31:43

    Stocks climb as stronger economic growth cheers investors

    US stocks rise after the Commerce Department raised its estimate for second-quarter economic growth with technology companies, retailers and travel providers, health care companies and banks leading the way

  • 08/30/2017 14:02:46

    U.S. stocks end higher; Nasdaq boosted by biotech gain

    U.S. stocks ended higher on Wednesday, with the Nasdaq seeing a particular gain on the strength of biotechnology companies, while the S&P 500 closed higher for a fourth straight session. The Dow Jones Industrial Average rose 25 points, or 0.1%, to 21,890. The S&P 500 added 11 points to 2,457, a gain of 0.5%. The Nasdaq Composite Index advanced 66 points to 6,368, a rise of 1.1%. The biotechnology sector was one of the strongest of the day, with the iShares Nasdaq Biotechnology ETF up 1.9%, boosted by Gilead Sciences , which surged 7.3%, and Incyte Corp. , up 10.6%. Markets were also supported by strong economic data, including better-than-expected reads on economic growth and private-sector employment. The Dow was pressured by Travelers Companies Inc. , which fell 1%, and by Verizon Communications , which was off 0.8%.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.

  • 08/25/2017 13:43:10

    Dow holds on to gains as Draghi talks global economic stability at Jackson Hole

    U.S. stock benchmarks were trading higher Friday afternoon, and looked set to book weekly advances as Mario Draghi delivered a highly anticipated speech at Jackson Hole, Wyo. Although Draghi didn't offer clues about monetary policy, he did say that recoveries taking place in global economies are firming, though he said it was "at an earlier stage" in Europe and Japan. The statement was enough to send the euro surging against the dollar up at $1.1925, compared to $1.18 late Thursday in New York. U.S. equity markets, meanwhile, climbed and have traded higher throughout the session on the back of the possibility of tax reform following remarks made by Gary Cohn, the president's economic adviser. The Dow Jones Industrial Average rose about 61 points, or 0.3%, at 21,847. Dow components Boeing Co. and Intel Corp. were helping to limit gains for blue chips. The S&P 500 index climbed 8 points, or 0.3%, at 2,446, while the Nasdaq Composite Index was flat at 6,271. Still, the technology laden gauge was on track to halt a dubious streak of four consecutive weekly declines, with a roughly 1% gain. Earlier in the session, Federal Reserve Chairwoman Yellen said that the economy was stabilizing but made no specific remarks about monetary policy during her speech at the gathering of central bankers in Wyoming. Meanwhile, investors were also Cohn's interview with the Financial Times, where he said the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of catalyst for stocks's rise to records after Trump's election victory in November. In that interview, Cohn also said he seriously considered resigning in response to Trump's reaction to a Charlottesville, Va., white-supremacist rally, however, the adviser and former Goldman Sachs executive decided against leaving. In other news, investors may also be watching developments in the Gulf Coast after Hurricane Harvey was upgraded to a Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 9% after the retailer's results late Thursday showed second-quarter sales growth slowed. Check out a live blog of the Jackson Hole symposium here.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.

  • 08/14/2017 15:26:44

    Tepper's Appaloosa dumps Snap Inc., stake, loads up on tech, health care

    David Tepper's hedge fund Appaloosa Management unloaded its position in Snapchat-parent Snap Inc., and disclosed increases in the tech and health-care sectors at the end of the second quarter. As of June 30, Tepper's fund showed that his fund dumped 100,000 shares of of Snap Inc. , which has lost more than a third of its value since it debuted as a public entity in early March. Tepper had been one of a number of prominent investors who had vocally expressed support of the social-messaging company. On Monday, Snap's shares were among the most active, gaining about 6.5% to start the week. Elsewhere, Appaloosa showed new positions in the PowerShares QQQ Trust Series 1 , which mimics the technology laden Nasdaq-100 , purchasing 1.8 million shares of the so-called QQQs, valued at $249 million, representing about 3.7% of his overall portfolio, according to data from research provider Whalewisdom.com. The fund also more than doubled its Apple Inc. position to 625,000 shares worth about $90 million and those of Altaba Inc. , which he boosted to 5.1 million shares valued at $280 million. Appaloosa showed a fresh stake in Alibaba Group Holding Limited , scooping up 3.6 million shares worth $520 million. Tepper's investment vehicle added a new position in exchange-traded IBB , a prominent ETF tracking the biotech sector, and SPDR S&P Biotech ETF , which closely mimics the S&P 500's health-care sector. Tepper's firm bought 235,000 shares of IBB worth about $73 million and 330,000 shares of XBI valued at $34 million, as of the end of June. In other sales, Tepper & Co. unloaded all of its position in Teva Pharmaceutical Industries , Energy Transfer Partners L.P. and Pfizer Inc. among others. Related: Active-managers have a new favorite toolMarket Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/14/2017 15:14:19

    Tepper's Appaloosa dumps Snap Inc. stake, loads up on tech, health care

    David Tepper's hedge fund Appaloosa Management unloaded its position in Snapchat-parent Snap Inc., and disclosed increases in the tech and health-care sectors at the end of the second quarter. As of June 30, Tepper's fund showed that his fund dumped 100,000 shares of of Snap Inc. , which has lost more than a third of its value since it debuted as a public entity in early March. Tepper had been one of a number of prominent investors who had vocally expressed support of the social-messaging company. On Monday, Snap's shares were among the most active, gaining about 6.5% to start the week. Elsewhere, Appaloosa showed new positions in the PowerShares QQQ Trust Series 1 , which mimics the technology laden Nasdaq-100 , purchasing 1.8 million shares of the so-called QQQs, valued at $249 million, representing about 3.7% of his overall portfolio, according to data from research provider Whalewisdom.com. The fund also more than doubled its Apple Inc. position to 625,000 shares worth about $90 million and those of Altaba Inc. , which he boosted to 5.1 million shares valued at $280 million. Appaloosa showed a fresh stake in Alibaba Group Holding Limited , scooping up 3.6 million shares worth $520 million. Tepper's investment vehicle added a new position in exchange-traded IBB , a prominent ETF tracking the biotech sector, and SPDR S&P Biotech ETF , which closely mimics the S&P 500's health-care sector. Tepper's firm bought 235,000 shares of IBB worth about $73 million and 330,000 shares of XBI valued at $34 million, as of the end of June. In other sales, Tepper & Co. unloaded all of its position in Teva Pharmaceutical Industries , Energy Transfer Partners L.P. and Pfizer Inc. among others.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.

  • 07/31/2017 05:09:48

    Etsy hires consultant Mike Fisher as chief technology officer

    Etsy, Inc. has appointed Mike Fisher, a former consultant, as its new chief technology partner, the company announced Monday. Fisher starts immediately and is charged with furthering the company's technology strategy and machine learning capabilities. Fisher comes to Etsy after working as managing partner of consulting firm AKF Partners, where he advised Etsy on several projects. Shares of Etsy have lost 2.4% in the past month, while the S&P 500 has gained 2%.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.

  • 07/27/2017 11:56:35

    Nasdaq Composite pivots sharply lower in afternoon trade

    The Nasdaq on Thursday afternoon turned sharply lower. The Nasdaq Composite Index was most recently down 70 points, or 1%, as the index was jolted suddenly lower, with some investors and traders citing a combination of concerns about valuations and traders taking some money off the table following a brisk run for the high-flying sector. The abrupt retreat for the tech-centric gauge came as the other main equity benchmarks pared an earlier advance. All three equity gauges notched all-time intraday trading highs at the open, but the S&P 500 index was most recently down 0.4% at 2,466 and the Dow Jones Industrial Average trading flat at 21,724, buoyed by gains in Verizon Communication , while Dow component and tech-giant Apple Inc. , sold off by 2.8%, cutting about 30 points from the blue-chip gauge. The popular tech-focused exchange-traded fund, the Technology Select Sector SPDR ETF , was trading down 1.1% in recent trade. 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.

  • 07/27/2017 11:43:53

    Nasdaq Composite on track for worst one-day tumble since June 9

    The Nasdaq on Thursday afternoon turned sharply lower. The Nasdaq Composite Index was most recently down 89 points, or 1.6%, as the index was jolted suddenly lower. The abrupt retreat for the tech-centric gauge came as the other main equity benchmarks pared earlier gains. All three equity gauges notched all-time intraday trading highs, with the S&P 500 index down 0.7% at 2,461 and the Dow Jones Industrial Average trading flat at 21,708, buoyed by gains in Verizon Communication , with Dow component and tech-giant Apple Inc. , off 2.8%, and cutting about 30 points from the blue-chip gauge. Technology shares were seeing the heaviest selling pressure, with the popular tech-focused exchange-traded fund, the Technology Select Sector SPDR ETF , down 1.1% in recent trade. 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.

  • 07/27/2017 11:39:00

    Tech shares fall 1%, weighing on broader market; Apple and Alphabet both tumble

    The largest exchange-traded fund to track the technology sector fell on Thursday, erasing an earlier gain and leading the broader market lower. The Technology Select Sector SPDR ETF fell 1.1% in afternoon trading, dropping to $57.10. Earlier, it had risen as high as $58.20, largely on the back of positive results out of Facebook Inc. . While the social media giant was still positive on the day, up 2.3% to $169, it was well off its highs of the session, having previously gained as high as $175.49, a level that represented a record. Among the most notable names, Apple Inc. sank 2.9% while Google parent Alphabet was off 2.3%. Microsoft Corp. shed 1.4% on the day. Separately, Netflix Inc. , a consumer discretionary stock that often moves on trends in the internet sector, fell 4.4%. Amazon.com , another internet name classified in the consumer discretionary sector, fell 0.5%. The online retailer is scheduled to report its quarterly results after the market closes. While the tech sector is one of the strongest-performing of the year, investors have become increasingly concerned about the group's valuations, leading to multiple sessions this year when it abruptly turned lower. The weakness in tech spread to the broader market, with the S&P 500 down 0.6% while the Nasdaq , which is heavily weighted towards technology stocks, lost 1.5%.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.

  • 07/19/2017 11:28:53

    AEterna Zentaris's stock more than doubles on heavy volume after favorable FDA ruling

    Shares of AEterna Zentaris Inc. more than doubled on heavy volume in afternoon trade Wednesday, after the biotechnology company received a favorable ruling by regulators regarding its treatment for growth hormone deficiency in adults, Macrilen. Volume exploded to 38.9 million shares in recent trade, compared with the full-day average of about 260,000 shares. The company said late Tuesday that the Food and Drug Administration accepted the new drug application (NDA) seeking approval of Macrilen as a "complete response." The FDA granted a Prescription Drug User Fee Act (PDUFA) date of Dec. 30. "We remain confident that the FDA will approve our NDA and, therefore, we are moving forward with our preparations to launch the product in the first quarter of 2018," said Chief Executive David Dodd. The stock has still lost 30% year to date, while the iShares Nasdaq Biotechnology ETF has climbed 20% and the S&P 500 has gained 10%. The FDA had issued a "complete response letter" (CRL) on Nov. 5, 2014 saying it couldn't approve the NDA in its present form because the clinical trial didn't by itself support the indication. The stock closed at a split-adjusted $129.00 the day before the CRL was announced.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.

  • 07/18/2017 13:09:35

    Surging Netflix puts Nasdaq on pace for longest win streak in 2 years

    The Nasdaq Composite Index on Tuesday was on track to book its longest streak of gains in more than two years and its first record close in about a month, highlighting a steady climb for the tech-centric benchmark, and a rebound in popular trades like Netflix Inc. . Most recently, the Nasdaq was trading in record territory and on track to mark its longest string of gains, at eight sessions in a row, since the 10-session period ended Feb. 24, 2015, according to the WSJ Market Data Group. The gauge had been wrestling with an extended downturn in technology shares since June 8, when the sector began a monthlong slump amid fears the high-flying group, including names like Facebook Inc. , Amazon.com Inc., Apple Inc. , Netflix, and Alphabet-parent Google Inc. , were rising too far, too fast. However, those companies and the tech benchmark has been recently rebounding from its June lows, with a recent batch of second-quarter earnings from Netflix helping to bolster sentiment in those growth names Overall, the Nasdaq Composite was trading up 0.4%, above its all-time closing high of 6,321.76 set June 8, while the Dow Jones Industrial Average was down about 0.3%, pressured by a slump in shares of Goldman Sachs , while the S&P 500 index was trading flat. The popular tech-focused, exchange-traded Technology Select Sector SPDR ETF also was trending higher and facing its own eight-session streak, as was the PowerShares QQQ Trust Series 1 , which is designed to mimic the performance of the large-cap Nasdaq-100 index .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.

  • 07/18/2017 11:33:57

    Netflix stock rally puts Nasdaq Composite on pace for longest win streak in 2 years

    The Nasdaq Composite Index on Tuesday was on track to book its longest streak of gains in more than two years, highlighting a steady climb for the tech-centric benchmark, and popular trades like Netflix Inc. , as it nears a fresh record. Most recently, the Nasdaq was trading in record territory and on track to mark its longest string of gains, at eight sessions in a row, since the 10-session period ended Feb. 24, 2015, according to the WSJ Market Data Group. The gauge had been wrestling with an extended downturn in technology shares since June 8, when the sector began a monthlong slump amid fears the high-flying group, including names like Facebook Inc. , Amazon.com Inc., Apple Inc. , Netflix, and Alphabet-parent Google Inc. , were rising too far, too fast. However, those companies and the tech benchmark has been recently rebounding from its June lows, with a recent batch of second-quarter earnings from Netflix helping to bolster sentiment in those growth stocks. Overall, the Nasdaq Composite was trading up 0.2% but above its all-time closing high of 6,321.76 set June 8, while the Dow Jones Industrial Average was down about 0.4%, pressured by a slump in shares of Goldman Sachs , while the S&P 500 index also was off 0.1%. The popular tech-focused, exchange-traded Technology Select Sector SPDR ETF also was trending higher and facing its own eight-session streak, as was the PowerShares QQQ Trust Series 1 , which is designed to mimic the performance of the large-cap Nasdaq-100 index .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.

  • 07/18/2017 09:12:23

    Netflix stock rally puts Nasdaq on pace for longest win streak in 2 years

    The Nasdaq Composite Index on Tuesday was on pace to book its longest streak of gains in more than two years, highlighting a steady climb for the tech-centric benchmark, and popular trades like Netflix, as it nears a fresh record. Most recently, the Nasdaq was bouncing around but if it closes in the green, it will mark its longest string of gains, at eight sessions in a row, since the 10-session period ended Feb. 24, 2015, according to the WSJ Market Data Group. The gauge had been wrestling with an extended downturn in technology shares since June 8, when the sector began a monthlong slump amid fears the high-flying group, including names like Facebook Inc. , Amazon.com Inc., Apple Inc. , Netflix Inc. , and Alphabet-parent Google Inc. , were rising too far, too fast. However, those companies and the tech benchmark has been recently rebounding from its June lows, with a recent batch of second-quarter earnings from Netflix helping to bolster sentiment in those growth stocks. Overall, the Nasdaq Composite was trading flat but has an all-time closing high above 6,321 in sight, while the Dow Jones Industrial Average was down about 0.5%, pressured by a slump in shares of Goldman Sachs and UnitedHealth Group Inc. , while the S&P 500 index also was off 0.2%. The popular tech-focused, exchange-traded Technology Select Sector SPDR ETF also was trending higher and facing its own eight-session streak, as were the PowerShares QQQ Trust Series 1 , which is designed to mimic the performance of the large-cap Nasdaq-100 index .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.

  • 06/30/2017 02:00:00

    Schlage Survey Results Indicate Need For Technologically Advanced Lock Products

    Schlage®, a brand of Allegion that creates technologically advanced lock products to help multi- and single-family owners secure properties, has released nationwide survey results indicating three in four Americans have doubted whether they locked their door. These findings underscore a potential differentiator for mixed-use properties that offer new security technologies to bring peace of mind to residents and homeowners. Advanced Locking Devices Released in tandem with Wakefield Research, the survey of an estimated 1,000 U.S. adults 18 and older showed 75 percent of Americans have felt uncertain about whether or not they locked their doors. This jumps to nearly 83 percent among millennials and 81 percent among parents. Additionally, 43 percent of consumers have experienced or know someone who has experienced a break-in when they were not home. "As technology evolves, locking devices will continue to advance and offer additional...

  • 06/28/2017 09:38:33

    Nutanix shares soar after report of partnership with Alphabet

    Shares of Nutanix Inc. were soaring 10% Wednesday after Alphabet Inc. said it had formed a partnership with the software company, according to CNBC. Nutanix pioneered a technology for businesses called hyperconvergence, which consolidates storage and servers. The first move under the partnership will be to move applications from physical data centers to Google Cloud, CNBC reported. Shares of Alphabet were down less than 1% Wednesday. Nutanix shares have gained 8% month-to-date, compared to the S&P 500's gain of 1%. 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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