Here Are 3 Hot Things to Know About Stocks Right Now
- Oil prices in the U.S. rose 1.5% on Monday, settling at $70.73. That was the first time crude oil has settled above $70 since 2014.
- The Dow Jones Industrial Average
traded up more than 170 points at one point during Monday's session. The Dow closed up 94 points.
- Apple Inc. (AAPL) rose 0.72% to $185.16 on Monday; the stock hit an all-time high of $187.67 earlier in the session.
Wall Street Overview
The Dow Jones Industrial Average
West Texas Intermediate crude rose 1.5% Monday to settle at $70.73 a barrel. Prices are surging as President Donald Trump has indicated the U.S. may pull out of the Iran nuclear deal. The 2015 international agreement eased sanctions on Iran on the promise the country would curb its nuclear program.
If the U.S. chooses to exit the deal, it could reimpose economic sanctions on Iran. That would weigh on the country's crude exports and global supply at large. Trump is expected to make a decision on extending related sanction waivers by May 12.
Warren Buffett's conglomerate posted a loss of $1.14 billion for the quarter, the first loss since 2009. The accounting change forced Berkshire to recognize its equity holdings on a mark-to-market basis. Buffett had warned about the accounting change earlier this year.Nestlé SA reached a deal Monday to pay Starbucks Corp. ( SBUX) $7.15 billion for the rights to sell the coffee chain's products globally.
Under the deal, Swiss-based Nestlé has been granted the "perpetual rights to market Starbucks consumer and foodservice products globally, outside of the company's coffee shops," the companies said in a statement. Starbucks was down slightly.
Athenahealth Inc. (ATHN) jumped 16% to $146.75 after Elliott Management confirmed it was bidding $160 a share for the medical records company. Paul Singer's Elliott took a 9.2% stake in Athenahealth about a year ago.
Tyson Foods Inc. (TSN) posted fiscal second-quarter adjusted earnings of $1.27 a share, below forecasts of $1.30. Revenue of $9.77 billion also came in light. The stock rose 0.37%.
E. W. Scripps Co. (SSP) reported an adjusted loss in its first quarter of 7 cents a share, narrower than forecasts of 8 cents. Shares gained 10%.
Gannett Co. (GCI) , the publisher of USA Today, posted none-GAAP earnings of 13 cents a share on revenue of $723 million. Analysts expected earnings of 3 cents. Gannett rose 12%.
International Flavors & Fragrances Inc. (IFF) reached a deal to buy Israel-based Frutarom Industries Ltd. in a $7.1 billion cash-and-stock deal.