• Jim Chanos unveils short position in kidney-dialysis firm DaVita
    on September 19, 2019 at 4:33 pm

    Legendary short-seller Jim Chanos of Kynikos Associates on Thursday announced his fund has taken a short position in kidney-dialysis company DaVita Inc. . Chanos, speaking at the CNBC Institutional Investor Delivering Alpha conference, pointed to a recent lawsuit by Blue Cross Blue Shield of Florida Inc. and Health Options Inc. that claims DaVita has engaged in an insurance fraud scheme in an insurance fraud scheme in which it has conspired with the charity the American Kidney Fund to encourage its patients to move from Medicaid and Medicare to private insurance exchanges, with subsidies from the American Kidney Fund, so that it is able to reap higher payments for its services. Chanos said that a whilstleblower from the American Kidney Fund has come forward to claim that DaVita, a major donor to the charity, had directed it to provide funds to its customers. The announcement comes after Chanos had previously criticized the kidney dialysis industry more broadly. DaVita shares fell 2.3% during Thursday trade, and neither the company nor the American Kidney Fund immediately responded a request for comment.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. […]

  • McDermott's stock tumbles again on heavy volume toward 16-year low
    on September 19, 2019 at 4:01 pm

    Shares of McDermott International Inc. tumbled 18% on heavy volume, to pace all NYSE decliners for a second-straight session, amid fears that the provider of engineering and construction services to the energy industry may be mulling a bankruptcy after reports that it hired AlixPartners LLP as a turnaround consultant. Trading volume ballooned to 65 million shares, compared with the full-day average of 9.8 million shares and enough to make the stock the most actively traded on major U.S. exchanges. The selloff follows a record 63% plunge for the stock on Wednesday after The Wall Street Journal reported the hiring of AlixPartners. The stock was trading at the lowest levels seen during regular-sessions hours since May 6, 2003. The extended declines comes after the company responded to the report by saying it "routinely" hires external advisors, and that it was taking positive and proactive measures to improve its balance sheet and capital structure. The stock has now plummeted 73% year to date, while the S&P 500 has gained 20%.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. […]

  • Datadog's stock soars in debut, with first trade 49% above IPO price
    on September 19, 2019 at 3:59 pm

    Datadog Inc. got off to a great start as a public company, as the stock opened 49.4% above the the digital transformation and cloud migration software company's $27 initial public offering price. The stock's first trade was at $40.35 at 11:57 a.m. Eastern for 3.2 million shares. It has extended gains since the open to be up 51% in recent trading. The IPO priced late Wednesday above the expected range of $24 to $26, which was recently raised from a range of $19 to $22. The company sole 24 million shares to raise $648 million in the IPO, and could raise up to $745.2 million if the underwriters exercise all the options to buy additional shares. The company has gone public at a time the Renaissance IPO ETF has rallied 31% year to date and the S&P 500 has advanced 20%.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. […]

  • Amazon co-founds The Climate Pledge, commits to be net zero carbon by 2040
    on September 19, 2019 at 3:56 pm

    Amazon.com Inc. announced Thursday that it has co-founded The Climate Pledge with Global Optimism, an organization dedicated to social and environmental change. The Climate Pledge is committed to meeting the Paris Agreement goal of being net zero carbon by 2040, 10 years earlier than the Paris Accord's 2050 deadline. Amazon has signed on to that commitment. Signatories also pledge to measure and report greenhouse gas emissions on a regular basis, put carbon emissions strategies in place, and reduce other emissions through offsets. "If a company with as much physical infrastructure as Amazon-which delivers more than 10 billion items a year-can meet the Paris Agreement 10 years early, then any company can," said Amazon Chief Executive Jeff Bezos in a statement. Amazon aims to use 100% renewable energy by 2030; is committing $100 million to restore and protect forests and wetlands through the Right Now Climate Fund, an initiative launched through a partnership with The Nature Conservancy; has launched a new sustainability website; and has invested $440 million in Rivian, a company that makes emissions-free electric vehicles. In addition to its investment in Rivian, the company has also placed an order for 100,000 vehicles that will start package deliveries in 2021. All 100,000 vehicles will be on the road by 2030. Amazon stock has rallied 21.7% in 2019, though the stock is down 5.1% over the past year. The S&P 500 index is up 20.4% for the year to date.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. […]

  • Boeing's 737 Max return to flight will likely come in phases: Canaccord
    on September 19, 2019 at 3:44 pm

    Boeing Co.'s 737 Max is likely to return to service in phases, and likely receive a go-ahead from U.S. aviation authorities by the fourth quarter, Canaccord Genuity analyst Ken Herbert said in a note Thursday. Herbert said he recently attended a supplier conference in Europe and sentiment in that region about the 737 Max appears to be "more cautious" than in the U.S. The jet has been grounded worldwide since March after two crashes less than five months apart. Boeing is still working on a solution for an equipment malfunction that appear to connect the two doomed 737 Max flights. European aviation authorities are likely to follow U.S. authorities in letting the Max resume service about three months later, Herbert said. "The extent to which pilot training will be a requirement is a risk considering the time required and the limited Max simulator capacity," the analyst said. India has announced it will conduct its own review, and while China's timing and intentions remain uncertain, it is likely that the 737 Max would return to service in China after a recertification in Europe, Herbert said. 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. […]

Market Data

Ticker