Posted on

All but 1 of the Dow’s components are falling premarket, as Dow futures tumble

All but one of the Dow Jones Industrial Average’s 30 components trading before Monday’s open are declining, with five of those components falling more than 1%. Among the biggest losers, shares of J.P. Morgan Chase & Co. slumped 2.1%, of Goldman Sachs Group Inc. dropped 2.1%, of Caterpillar Inc. shed 1.8% of American Express Co. slid 1.4% and of Nike Inc. lost 1.2% and Visa Inc. gave up 1%. The long gainer was DuPont & Co.’s stock , which ticked up 0.1% in light trade. Dow industrials futures tumbled 159 points.

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.

…read more

From:: Stock Market News

Posted on

Allergan, Paratek Pharma report positive results in late-stage trial of acne treatment

Shares of Allergan Plc and Paratek Pharmaceuticals Inc. rose premarket Monday, after the companies reported positive results for a trial of a treatment for moderate to severe acne. The companies said two Phase 3 trials of sarecycline met their primary endpoints. Allergan is planning to seek U.S. Food and Drug Administration approval for the drug in the second half. “Sarecycline is a narrow spectrum antibiotic, which we believe can offer meaningful clinical benefits for patients afflicted with acne,” Paratek Chief Medical Officer Evan Loh said in a statement. Paretek shares rose 11% premarket, while Allergan was up 0.3%.

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.

…read more

From:: Stock Market News

Posted on

G-III’s stock plunged toward 4-year low after disappointing results, outlook

Shares of G-III Apparel Group Ltd. plunged 9.9% toward a four-year low in premarket trade Monday, after the branded apparel and accessories maker reported a wider-than-expected fiscal fourth-quarter loss and provided a downbeat outlook. For the quarter to Jan. 31, G-III swung to a net loss of $20.1 million, or 42 cents a share, from a profit of $8.0 million, or 17 cents a share, from the same period a year ago. Excluding non-recurring items, the adjusted per-share loss was 16 cents, compared with the FactSet loss consensus of 10 cents. Revenue rose to $603.3 million from $527.4 million, but missed the FactSet consensus of $622.8 million. For the current fiscal year, G-III’s EPS outlook of 80 cents to 90 cents was below the FactSet consensus of $1.34, and the sale guidance of “approximately” $2.73 billion was below expectations of $2.89 billion. ” Our non-outerwear wholesale business performed well in the face of significant headwinds as the traditional retail environment has become increasingly disrupted as a result of evolving consumer buying behavior and continued penetration of e-commerce,” said Chief Executive Morris Goldfarb. The stock has tumbled 22% year to date through Friday, while the S&P 500 has gained 4.7%.

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.

…read more

From:: Stock Market News

Posted on

Sealed Air to sell New Diversey, food hygiene business to Bain Capital for about $3.2 billion

Food packaging company Sealed Air Corp. said Monday it has agreed to sell its Diversey Care division and the food hygiene and cleaning business of its food care division to private-equity firm Bain Capital in a deal worth about $3.2 billion. Sealed Air will use the proceeds to pay down debt, buy back shares and fund growth initiatives, including possible acquisitions for its food and product care divisions. The company’s board has approved an additional $1.5 billion for its share buyback authorization, bringing the total to about $2.2 billion. The sale of New Diversey is expected to close in the second half. The business has about 8,600 workers globally and along with the food hygiene business generated sales of about $2.6 billion in 2016. Sealed Air shares were flat premarket, but are down 1.5% in the year so far, while the S&P 500 has gained 4.7%.

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.

…read more

From:: Stock Market News

Posted on

Snapchat parent Snap’s stock surges after a number of bullish analyst calls

Shares of Snapchat parent Snap Inc. surged 3.6% in premarket trade Monday, after a number of Wall Street analysts started coverage of the social media company with bullish ratings and price targets. No less than eight analysts initiated coverage of Snap, according to FactSet, with five of them giving the company the equivalent of buy ratings, and three placing hold ratings, with price targets ranging from $23 to $31. That brings the average rating of the 25 analysts surveyed by FactSet to hold, and the average price target to $23.27, which was 2.3% above Friday’s closing price of $22.74. Analyst Mark Mahaney at RBC Capital, which was not among the lead underwriters, initiated Snap at outperform and set the highest of the price targets at $31, saying the company has become an innovation leader for consumers and advertisers in the fastest advertising medium, mobile. “We believe that if it sustains its current level of innovation, it can sustain premium growth for a long time and scale to profitability,” Mahaney wrote in a note to clients. Through Friday, the stock has lost 7.1% since its closed at $24.48 on its first day of trade, which was 44% above its IPO price of $17. The S&P 500 has lost 1.6% over the same time.

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.

…read more

From:: Stock Market News

Posted on

Monday Morning Cup of Coffee: The dark side of mortgage automation

By swheeler@housingwire.com Lots of people, including your friends here at HousingWire, have noted that the mortgage industry is ripe for tech disruption. But buried in all the good news about efficiency, lower costs and borrower satisfaction is the potential for serious job loss. Here’s a look at how the technological revolution could impact the financial services industry. All that, and much more, in your Monday Morning Cup of Coffee. …read more

From:: Real Estate Wire

Posted on

In Like a Lion: Spring Gets Roaring Start With High Values, Low Supply

By Susanne Dwyer

The spring home-buying season is off to a roaring start, with home values up 7 percent and supply down 3 percent year-over-year, according to Zillow’s Real Estate Market Reports for February. Competition is expected to be fierce as homebuyers chase down few listings, says Zillow Chief Economist Dr. Svenja Gudell.

“Low inventory, strong demand and tough competition will be the defining characteristics of this year’s home shopping season,” Gudell says. “Even though interest rates are rising, buyers are eager to start their home search.”

High values and low supply are especially pronounced in Minneapolis-St. Paul, Minn., where values are up 7.1 percent year-over-year and supply is down 18 percent; Cincinnati, Ohio, where values are up 6.4 percent and supply is down 14.9 percent; and Detroit, Mich., where values are up 10 percent and supply is down 14.4 percent. The median home value in Minneapolis-St. Paul ($239,700) is above the national median, $195,700, while the median home values in Cincinnati ($150,500) and Detroit ($137,500) are below it.

The highest home value appreciation occurred in Tampa, Fla., Seattle, Wash., and Dallas-Fort Worth Texas, where values rose more than 11 percent year-over-year—above the national appreciation, 6.9 percent.

“If you’re a prospective buyer about to enter the market, keep in mind that it’s rare to get the first home you make an offer on, and homes in particularly hot markets frequently sell for over asking price,” says Gudell. “Buyers should give themselves enough time to get their finances in order and find a real estate agent they know and trust before jumping into the market.”

For more information, please visit www.zillow.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post In Like a Lion: Spring Gets Roaring Start With High Values, Low Supply appeared first on RISMedia.

…read more

From:: Finance and Economy

Posted on

In Like a Lion: Spring Gets Roaring Start With High Values, Low Supply

By Susanne Dwyer

The spring home-buying season is off to a roaring start, with home values up 7 percent and supply down 3 percent year-over-year, according to Zillow’s Real Estate Market Reports for February. Competition is expected to be fierce as homebuyers chase down few listings, says Zillow Chief Economist Dr. Svenja Gudell.

“Low inventory, strong demand and tough competition will be the defining characteristics of this year’s home shopping season,” Gudell says. “Even though interest rates are rising, buyers are eager to start their home search.”

High values and low supply are especially pronounced in Minneapolis-St. Paul, Minn., where values are up 7.1 percent year-over-year and supply is down 18 percent; Cincinnati, Ohio, where values are up 6.4 percent and supply is down 14.9 percent; and Detroit, Mich., where values are up 10 percent and supply is down 14.4 percent. The median home value in Minneapolis-St. Paul ($239,700) is above the national median, $195,700, while the median home values in Cincinnati ($150,500) and Detroit ($137,500) are below it.

The highest home value appreciation occurred in Tampa, Fla., Seattle, Wash., and Dallas-Fort Worth Texas, where values rose more than 11 percent year-over-year—above the national appreciation, 6.9 percent.

“If you’re a prospective buyer about to enter the market, keep in mind that it’s rare to get the first home you make an offer on, and homes in particularly hot markets frequently sell for over asking price,” says Gudell. “Buyers should give themselves enough time to get their finances in order and find a real estate agent they know and trust before jumping into the market.”

For more information, please visit www.zillow.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post In Like a Lion: Spring Gets Roaring Start With High Values, Low Supply appeared first on RISMedia.

…read more

From:: Real Estate News

Posted on

Now You Can Own Ellen DeGeneres and Portia de Rossi’s Santa Barbara Villa

By Susanne Dwyer

Ellen_DeGeneres_Santa_Barbara_1-5

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Do you want to live with Ellen DeGeneres and Portia de Rossi? Well you can’t, but you can live in their old villa. That is, if you have a spare $45 million roosting in the bank—the posh Santa Barbara pad just hit the market. Known simply as “The Villa,” the estate boasts a lap pool, sunken tennis courts, a super fancy indoor-outdoor entertaining pavilion for all of your fabulous future parties, and incredible views of the ocean, harbor, and mountains.

Originally built in the 1930s, the two-story, 10,500-square-foot spot was created by famed architect Wallace Frost who modeled the home after a traditional 17th century Italian villa. The six-bedroom, eight-bathroom space was featured in Ellen’s 2015 book “Home.”

The comedian/author/talk show host and her Australian actress wife bought the place in 2012, gobbling up the properties on either side to make the villa the expansive estate that it is today.

Listed for: $45 million
Listed by: Suzanne Perkins, Sotheby’s International Realty

Photos: TheVillaSB.com

Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Now You Can Own Ellen DeGeneres and Portia de Rossi’s Santa Barbara Villa appeared first on RISMedia.

…read more

From:: Real Estate News