^GSPC - S&P 500

US STOCKS-Wall St dips on trade tensions, hopes of rate cut limit losses

Wall Street's main indexes dipped on Wednesday as worries of a protracted U.S.-China trade war were heightened by Washington's tough stance, but losses were limited by a tame inflation report that supported the case for an interest rate cut. Data showed consumer prices edged up 0.1% in May, in line with expectations of economists polled by Reuters and pointed to moderate inflation. Excluding the volatile food and energy components, the CPI nudged up 0.1%.

Mattel shares jump 8% on reports of rejected merger offer

Mattel Inc. stock jumped almost 8% in early Wednesday trading after reports that the toy company turned down a merger offer from MGA Entertainment Inc., the company behind LOL Surprise and the Bratz dolls. Mattel has struggled with sales declines, but has taken steps to create partnerships and delve more deeply into entertainment, such as a deal with Pixar and an expanded deal with Warner Bros. Mattel shares have rallied 13.4% for the year to date while the S&P 500 index is up 15.2% for the period.

LaCroix parent's shares take a hit after new lawsuit

National Beverage Corp. shares closed Tuesday down nearly 5% after a complaint was filed New Jersey alleging that the company "planned to falsely state in April that its sparkling water cans were BPA-free," months ahead of when the BPA-free cans were actually going to be produced. National Beverage brands include LaCroix, which has seen its sales decline thanks to heightened competition and other factors. National Beverage said in a statement sent to MarketWatch that it began moving LaCroix to BPA-free liners two years ago and as of April 2019 the beverages are made in cans without BPA liners. "The FDA has stated BPA liners are safe and pose no risk at the trace levels found from its use in can linings of food and beverage products," the statement said. "False statements were made in litigation brought by a former employee seeking to extract a monetary recovery from the company. We intend to vigorously defend our company and our brands against false claims brought by this disgruntled former employee." National Beverage stock slumped to its lowest point since 2016, and has fallen 37.4% for the year to date. The S&P 500 index has gained 15.1% for 2019 so far.

Leveraged ETF Traders Aren't Buying This Market Strength Story

The indices closed mixed on Tuesday, with the Nasdaq 100 Index and S&P Midcap 400 Index posting minor gains as the rest declined. Trading volumes declined with negative Nasdaq internals as the NYSE saw negative breadth but positive up/down volume. There were no technical events of import, leaving the S&P 500, Dow Jones Industrials and MID in near-term uptrends with the rest neutral.

Dow heads higher in morning trade, tries to avoid second straight drop as oil prices slump

U.S. stock indexes on Wednesday bounced around at the open, with the Dow attempting to avoid falling for a second session in a row as appetite for assets perceived as risky stalled and crude prices slumped, weighing on the broader market. The Dow Jones Industrial Average edged up 20 points, or 0.1%, at 26,072, the S&P 500 index was up less than 0.1% at 2,887, while the Nasdaq Composite Index fell 0.1% at 7,814. Weakness in the information technology stocks, which have been among the best forming sectors in the market, were helping to lead the market lower along with energy shares. A late-Tuesday report from the American Petroleum Institute showed that U.S. crude stockpiles climbed more than expected last week, implying weakening demand, dragging West Texas Intermediate oil futures sharply lower . Lingering trade tensions over international trade relations and questions over whether the Federal Reserve will cut interest rates in coming meetings has been a key catalyst for markets. Meanwhile, Hong Kong's Hang Seng index tumbled amid protests over an unpopular bill that would allow people to be extradited to China. In economic news, U.S. price inflation remains tame, according to the Labor Department's Consumer Price index, which showed prices rising 0.1% in April, in line with the consensus forecast, according to a MarketWatch poll of economists.

Trade Desk stock falls after Instinet turns bearish

Shares of The Trade Desk Inc. are off 4.5% in morning trading Wednesday after Instinet's Mark Kelley downgraded the stock to reduce from neutral. "We believe that the underlying fundamentals of the business, while relatively solid, are out of sync with near- to medium-term investor expectations and the story being told," Kelley wrote. He argued that The Trade Desk's total addressable market isn't $1 trillion if investors strip out Alphabet Inc. properties as well as social media. "What we're left with is a $41 billion market this year, which we estimate will grow in the high teens to low 20% range over the next few years to reach almost $60 billion by 2021, as programmatic penetration increases. We note that $60 billion is the value of the advertisements, not the revenue opportunity for TTD-assuming 20% take rates, we believe the revenue potential is $12 billion, roughly in line with TTD's $11 billion market cap." He kept a $144 price target on the stock, 40% below current levels. The stock has gained 105% so far this year, as the S&P 500 has risen 15%.

US STOCKS SNAPSHOT-Wall St opens flat as hopes of a rate cut counter trade worries

Jim Cramer-founded TheStreet's stock rallies after buyout deal with TheMaven

Shares of TheStreet Inc. surged 7.0% in morning trading Wednesday, after the financial news service founded by money manager and media personality Jim Cramer said it agreed to be acquired by TheMaven Inc. for $16.5 million in cash, an excess cash distribution and a contingent value right. Under terms of the deal, TheStreet shareholders will receive $33.0 million to $34.5 million, or $6.19 to $6.47 a share for each TheStreet share they own. That represents a premium of 9.0% to 13.9% to Tuesday's stock closing price of $5.68. "This is a good outcome for TheStreet's shareholders," said Chief Executive Eric Lundberg. "After taking into account the ongoing development needs and operating costs of the remaining consumer business as a stand-alone public company, we believe this agreement represents the best way to maximize value to TheStreet shareholders." The stock's $5.68 closing price Tuesday reflects a $1.77-per-share cash distribution to shareholders in April and a 1-for-10 reverse stock split. The S&P 500 slipped 0.1% in morning trading.

Don’t Count on the Fed Cutting Interest Rates While the Economy Looks This Good

The emerging certainty that the Federal Reserve will cut interest rates looks as misplaced as last year’s expectations for multiple hikes.

The Dow Is Dropping Because What Goes Up Must Go Down

6:11 a.m. One day after its five-day winning streak ended with a whimper, the Dow Jones Industrial Average looks set to decline again. Dow futures have fallen 94 points, or 0.4%, while S&P 500 futures have declined 0.4%, and Nasdaq Composite futures have dropped 0.6%. The Dow was well on its way to another 100-point gain on Tuesday, until suddenly it wasn’t.

Beyond Meat downgraded based on stock volatility, shares still rise

Beyond Meat Inc. was downgraded to market perform from outperform at Bernstein, but the shares still rose 2.7% in Wednesday premarket trading. The downgrade was based on valuation, with analysts highlighting trading "in a highly volatile manner since it's IPO likely due to its limited public float." Even with the downgrade, analysts are bullish. "Despite the valuation considerations, we continue to expect significant growth potential in the plant-based meat category and believe that Beyond Meat is well positioned as one of the front-runners leading the new wave of plant-based meat products," Bernstein wrote. Recent coverage of Beyond Meat has taken note of the soaring share price, market cap, cost to short sellers, and other issues. Beyond Meat stock has skyrocketed more than 90% over the past month, far outpacing the S&P 500 index , which has inched up 0.2% over the period.

US STOCKS-Wall Street set to open lower as trade tensions weigh

Futures pared losses after data showed consumer prices edged up 0.1% in May, in line with expectations of economists polled by Reuters and pointing to moderate inflation. Fresh worries erupted on the trade front after President Donald Trump said he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees to four or five major points. Trump also said that interest rates were "way too high", ahead of a reading on U.S. inflation that could shift the odds towards a cut in rates as soon as July.

Ford sees $180 million cost to correct suspension issue in Explorers; evaluating options on latest duty ruling

Ford Motor Co. disclosed Wednesday that it estimates a cost of $180 million for a "field service action" to correct a suspension issue in Explorer vehicles. The issue is in certain Explorer model years 2011 through 2017. Separately, the auto maker said the ruling by U.S. Customs and Border Protection (CBP) that its Transit Connect vehicles that are imported as passenger wagons and later converted into cargo vans are subject to 25% duty, rather than the 2.5% duty applied to passenger vehicles, was upheld by a federal appeals court on Jun 7. "We are evaluating our options following the most recent ruling," Ford stated in an filing with the Securities and Exchange Commission. The stock slipped 0.2% in premarket trade. It has rallied 30% year to date through Tuesday, while the S&P 500 has gained 15%.

CymaBay Therapeutics Stock Plunged. Here’s Why It Could Be Time to Buy

The small-cap biotech company released disappointing trial data on Tuesday, triggering a selloff. Raymond James analyst Steven Seedhouse says the stock is now a Strong Buy.