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Amazon picks New York City, Northern Virginia for new headquarters: reportExternal Link

Amazon.com Inc. has chosen New York City and Northern Virginia to be the locations of the company's new satellite offices, the Wall Street Journal reported Monday night. The official announcement that Amazon will divide its second headquarters between Long Island City and Crystal City, Va., may come as soon as Tuesday, the Journal reported, citing sources familiar with the matter. The sites of the massive new offices, each expected to house about 25,000 jobs, were widely expected after the Journal reported earlier this month that the nationwide search for "HQ2," which has taken over a year, would be split between two locations.

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, 13 Nov 2018 02:51:11 GMT
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San Francisco Fed's Daly backs 'gradual normalization' as U.S. not at full employmentExternal Link

San Francisco Fed President Mary Daly on Monday said she backs the "gradual normalization of monetary policy" but pointed out that in one key area, the U.S. is not at full employment.Daly said the U.S. prime-age labor-force participation lags other industrial nations, notably Canada, which she says is due to a lack of government subsidies for childcare and parental leave policies. She said research due for release Tuesday will show that women account for three-fourths in the prime-age differential between the U.S. and Canada. "The Fed can help by making sure that the economy continues to grow, creating work opportunities for wide swaths of the population," she said. Daly is a voter on the Federal Open Market Committee this year and in 2021.

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, 12 Nov 2018 23:11:19 GMT
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Dow ends 600 points lower, logging worst day in 3 weeks, as tech stocks, Goldman get rockedExternal Link

Stock benchmarks on Monday got hammered, amid a chorus of worries, including oil-price swings, worries and fears of weakening global growth. Those combined with a buoyant U.S. dollar to knock all three equity indexes sharply lower, with concerns about trade spats between the U.S. and China remaining on the forefront of investors' minds. The Dow finished 602 points, or 2.3%, lower at 25,387, the S&P 500 index closed off 2% at 2,726, while the Nasdaq Composite Index finished the session with steepest decline, down 2.8% at 7,201. All three benchmarks saw their worst day since Oct. 24, according to FactSet data. Shares of Apple were among the biggest sources of weakness in the broader market as the iPhone maker saw a series of reports questioning its production headed into the holidays. Shares of the Cupertino, Calif.-based tech giant ended the day down 5%. Meanwhile, shares of Goldman Sachs Group Inc. tumbled 7.5%, marking its worst daily loss since November of 2011, wiping 112 points from the Dow industrials. Elsewhere, the dollar, as measured by the ICE U.S. Dollar Index touched its highest level since June of 2017 and crude-oil reversed course and marked its 11th straight decline after President Donald Trump tweeted that prices of crude were still too high.

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, 12 Nov 2018 22:23:32 GMT
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Kellogg looks to sell Keebler, Famous Amos cookie brandsExternal Link

Kellogg Co. said late Monday it's looking to sell off its cookies and fruit snacks businesses to focus more on its core products. The cookie brands include Keebler, Famous Amos, Mother's and Murray brands, while the fruit snacks brands include the Stretch Island brand, Kellogg said. In North America, the company also said it was consolidating its morning foods, snacks and frozen foods segments into one unit, and consolidating its sales teams in those areas. Kellogg shares were flat after hours, having declined 1.1% to close at $64.30 in the regular session.

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, 12 Nov 2018 21:42:53 GMT
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Eventbrite stock dips after first earnings report since IPOExternal Link

Eventbrite Inc. shares dipped almost 5% in extended trading after the company reported better-than-expected sales growth in its first quarterly earnings report as a public company Monday afternoon. The online-ticketing service reported a net loss of $35.6 million, or $1.24 a share, on sales of $73.6 million, up from $50.7 million a year ago. Nearly half of Eventbrite's losses, more than $15 million, were credited to stock-based compensation, which can be especially heavy in the first quarter after an initial public offering. On average, the five analysts tracking Eventbrite predicted losses of 46 cents a share on sales of $71.7 million, according to FactSet. Shares closed Monday with a 5% decline at $30.91, still well higher than the $23 IPO price the company set in September. Shares dipped lower than $30 in immediate late trading following the 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.


Mon, 12 Nov 2018 21:20:32 GMT
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