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Duke Energy still has 430,000 Florida customers without power, give estimates for times of restoration

Shares of Duke Energy Corp. fell 1.8% in afternoon trading Friday, after the utility company said while 430,000 of its customers in Florida are still without power because of Hurricane Ian, it has already restored power to about 650,000 customers. The North Carolina-based company, which serves 1.9 million customers in Florida, said it has 10,000 people working to restore power in Florida, many who were brought into Florida from other states before the hurricane. The current estimated time for restoration (ETR) of power for Florida's Highlands, Polk and Volusia counties is about 6 p.m.; the ETR for 90% of customers in the Pasco and Pinellas counties is no later than 11:59 p.m. on Saturday; and the ETR for 90% of customers in Lake, Orange, Osceola and Seminole counties is no later than 11:59 p.m. on Sunday. Duke's stock has lost 12.9% over the past three months, while the Dow Jones Utilities Average has lost 8.2% and the Dow Jones Industrial Average has given up 6.1%.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......»»

Category: topSource: MARKETWATCH1 hr. 38 min. ago Related News

Oil futures end lower for the session, month and quarter

Oil futures declined Friday, contributing to their losses for the month and quarter as concerns over a potential recession raised expectations for a slowdown in demand. Still, oil supply will get tighter in the winter and "now that most of the crude demand destruction has been priced in, prices should stabilize going into the year-end," said Edward Moya, senior market analyst at OANDA. November WTI crude fell $1.74, or 2.1%, to settle at $79.49 barrel on the New York Mercantile Exchange, with front-month prices still up nearly 1% for the week. For the month, prices lost 11%, and ended the quarter down almost 25%, according to Dow Jones Market Data. 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......»»

Category: topSource: MARKETWATCH1 hr. 38 min. ago Related News

Dow down 300 points in final hour of trading

Stocks traded near session lows with less than an hour left in Friday's session, leaving the S&P 500 on track to end at another 2022 low as major indexes headed for hefty monthly losses. The Dow Jones Industrial Average was down 300 points, or 1%, while the S&P 500 fell 0.8% and the Nasdaq Composite shed 0.7%. The Dow was on track for a monthly loss of 8.3%, while the S&P 500 was off 8.8% and the Nasdaq declined nearly 10%. 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......»»

Category: topSource: MARKETWATCH1 hr. 38 min. ago Related News

Stocks end lower Friday, cement biggest 9-month plunge in 20 years

U.S. stocks end sharply lower Friday, closing out a brutal month of September and posting their worst skid in the first 9-months of a year in two decades as higher rates and recession fears grip investors. The Dow Jones Industrial Average tumbled about 495 points Friday, or 1.7%, ending near 28,730 as heavy selling intensified into the closing bell. The S&P 500 index [s:spx] shed 1.5%, while the Nasdaq Composite Index finished down 1.5%. Losses for the week and month were far worse. The Dow led the major stock indexes lower with a 2.9% weekly skid, to end September down 8.8%. But the S&P 500 and Nasdaq recorded bigger monthly losses of 9.3% and 10.5%, respectively, according to FactSet data. The Federal Reserve's unwavering stance in September on raising rates until inflation finds a path down to its 2% target has been blamed for the sharp selloff. The task has been complicated by a roaring labor market and soaring home prices, which keep pressure on shelter costs. Home prices have only begun to show signs of a retreat after gaining 45% nationally during the pandemic, which will keep focus on next week's jobs update for August. For the year so far, the Dow fell 21%, the S&P 500 skid 24.8% and the Nasdaq shed 32.4%, which marked their worst first 9-month fall in a year since 2002, according to Dow Jones Market Data. 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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Cal-Maine names Miller as CEO

Cal-Maine Foods Inc. on Friday said it named Sherman Miller as its new chief executive, a move that took hold immediately. Miller, who most recently served as the egg producer's president and chief operations officer, will replace Dolph Baker at the helm. Baker will stay on as chairman of Cal-Maine's board and remain an executive officer "actively involved" in managing the company. Baker, in a statement, said Miller was a "proven leader in managing our operations through the various market cycles that are characteristic of our industry." Miller joined Cal-Maine in 1996. Shares of Cal-Maine finished 5.3% lower during regular trading. 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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Lockheed Martin hikes dividend 7% as Ukraine war drags on

Lockheed Martin Corp. said late Friday its board approved a 7% hike to the aerospace and defense company's dividend. The company said it will pay a $3-a-share dividend, up from a previous $2.80 a share, on Dec. 30, to shareholders of record as of Dec. 1. Shares of Lockheed Martin are up 8.7% for the year, compared with a 25% decline on the S&P 500 index . Lockheed Martin not only makes the High Mobility Artillery Rocket Systems, or HIMARS, but partners with Raytheon Technologies Corp. to make the Javelin anti-tank missile system, both of which have been supplied to Ukraine by the U.S. to defend itself from Russian invasion.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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Robinhood to take bigger restructuring charge as it exits leases

Robinhood Markets Inc. said late Friday it will take higher-than-expected restructuring charges as it exits leases on office space that it is not using. In a Securities and Exchange Commission filing Friday, the online broker said it expects to take charges of $90 million to $105 million in the third quarter, up from a previous estimate between $45 million to $60 million, in restructuring charges as a result. In August, the company said it was cutting 23% of its full-time staff, following cuts announced in April, which led it to re-evaluate its real-estate portfolio. Robinhood said it decided to partially or completely close five more offices, with four of those leases on office space that has never been occupied. The closures will not result in further layoffs, the company 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......»»

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S&P puts U.K. AA credit rating on negative outlook due to worries over fiscal plan

S&P Global Ratings on Friday moved its outlook on the U.K.'s AA sovereign credit rating to "negative" from "stable," citing concerns about the country's fiscal outlook. The British pound tumbled and yields on British government bonds, or gilts, soared after Treasury chief Kwasi Kwarteng on Sept. 23 unveiled a mini-budget plan that included 45 billion pounds in unfunded tax cuts. The Bank of England this week stepped in to buy gilts in an effort to stabilize the bond market. S&P, in a statement, said it now expects the U.K. government deficit to widen by an average 2.6% of gross domestic product annually through 2025, while net general government debt will continue on an upward trajectory, "in contrast to our previous expectation of it declining as a percentage of GDP from 2023." The ratings firm said the U.K. "continues to face balance-of-payment risks stemming from its persistently large current account deficit, which we forecast will widen to 6% of GDP this year, in part driven by higher costs of energy imports."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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In One Chart: Hurricane Ian hit the top end of a catastrophic Cat 4. Here are the categories explained.

Hurricanes are categorized using the Saffir-Simpson Hurricane Wind Scale. Here's the damage each ranking can bring......»»

Category: topSource: MARKETWATCH3 hr. 22 min. ago Related News

Market Extra: It’s the worst September for stocks since 2002. What that means for October.

September is living up to its reputation as an ugly month for stocks. Here's what the data says about October performance......»»

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Deep Dive: These 20 stocks in the S&P 500 tumbled between 20% and 30% in September

FedEx, Ford, AMD and Nike were among the worst performers for the month in the benchmark index......»»

Category: topSource: MARKETWATCH3 hr. 22 min. ago Related News

The Conversation: Supreme Court’s new session starts Monday — watch for crucial rulings on affirmative action, LQBTQ rights, election laws

Outcomes will deeply influence American lives and values......»»

Category: topSource: MARKETWATCH3 hr. 22 min. ago Related News

: AT&T, Verizon and Comcast stocks just had their worst quarter in two decades

Some of the biggest telecommunications stocks just posted their steepest quarterly declines in two decades amid pressures both new and old on the cable and wireless industries......»»

Category: topSource: MARKETWATCH3 hr. 22 min. ago Related News

: Disney names new board member in deal with activist investor Third Point

The Walt Disney Co. announced a new board member Friday afternoon as part of a settlement with activist investor Third Point LLC......»»

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Market Extra: A rampaging U.S. dollar just booked its strongest quarter in at least 7 years as investors search for safety

The dollar wrapped up its biggest quarterly climb in at least seven years on Friday, along with its largest four-month advance since November 2008 --- the latest chapter in what has been a historic year for the greenback......»»

Category: topSource: MARKETWATCH3 hr. 22 min. ago Related News

U.S. stocks finish sharply lower with three indexes booking worst first nine months of a year in two decades

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

Category: topSource: MARKETWATCH3 hr. 38 min. ago Related News

Dow tumbles 500 points to finish September down over 8%

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

Category: topSource: MARKETWATCH3 hr. 38 min. ago Related News

The S&P 500, Nasdaq Composite each down 1.5%

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

Category: topSource: MARKETWATCH3 hr. 38 min. ago Related News

The S&P 500 records monthly losses of 9.3%, while the Nasdaq books a monthly decline of 10.5%

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

Category: topSource: MARKETWATCH3 hr. 38 min. ago Related News

TaxWatch: Don’t miss this important tax deadline on Sept. 30 – and another, even bigger tax deadline on Oct. 17

IRS Commissioner Charles Rettig said the agency is attempting to accommodate late filers......»»

Category: topSource: MARKETWATCH4 hr. 10 min. ago Related News