Stock Market News Today

Activision’s Date With Destiny. Activision once considered “Destiny” its next “Activision’s goals,” but Sci-fi shooter never lived up to Activision’s goals

Analysts believe “Destiny” generated about $370 million in total revenues in 2018, according to consensus estimates from Visible Alpha. That would rank the game fifth on Activision’s slate—well below its other big properties such as “Call of Duty,” “World of Warcraft” and “Overwatch.”

Mexico has significantly reduced imports of U.S. gasoline. Cutback comes as a government crackdown on fuel theft leads to shortages across the country

The decline is the result of fewer orders of American gasoline and congestion at Mexico’s Gulf Coast fuel terminals where at least 15 tanker vessels were idling in the Gulf of Mexico waiting to unload several million barrels of gasoline as of Friday, according to industry analysts and government officials.

U.S. Recession Risk Hits Six-Year High. Analysts surveyed by Bloomberg over the past week see a median 25 percent chance of a slump in the next 12 months

Analysts generally expect the partial government shutdown — which President Donald Trump said could last for months if not years, and is now in its third week. The shutdown has also delayed government data releases, such as retail sales and inventories, that investors and analysts use to assess the state of the economy.

Oil headed for its biggest weekly gain in over two years. Still, prices are about 30 percent lower than their highs in October

Crude’s direction in coming weeks may be determined by whether the Organization of Petroleum Exporting Countries and allies including Russia implement output cuts they have promised for the first six months of 2019. Also crucial will be the outcome of trade negotiations between the U.S. and China — the world’s two biggest economies. A deal between the nations could boost flagging global growth that underpins oil demand.

J.C. Penney announced Tuesday that holiday sales fell and it plans to close three stores by the spring as part of an ongoing evaluation of its performance

The retailer didn’t specify which stores it planned to close but said it would provide more information when it reports fourth-quarter results on Feb. 28. J.C. Penney shares closed Tuesday at $1.21. The stock, which has lost more than 67 percent over the past year, was recently trading below the $1 mark.

PG&E Corp is exploring filing some or all of its business for bankruptcy protection. Shares of PG&E, dropped 30 percent in after hours trading in New York on Friday on the news

The company said on Friday that it was reviewing its “structural options” and assessing its operations, finances, management, structure and governance. It also said it is searching for new directors at its holding company and its utility subsidiary Pacific Gas and Electric Co.