admin, Author at Real Estate is Ideal - Page 1157 of 2664

3M buys personal safety-device maker Scott Safety in a $2 billion deal

3M Co. announced Thursday an agreement to buy safety-device maker Scott Safety from Johnson Controls International PLC in a deal valued at $2 billion. 3M expect the deal to reduce net earnings by 10 cents a share, and add 10 cents a share to adjusted earnings, in the first 12 months after closing, which is expected to occur in the second half of 2017. “Personal safety is a core growth business within the 3M portfolio,” said Chief Executive Inge Thulin. Johnson Controls’ stock gained 1.4% in premarket trade. Year to date, 3M shares have climbed 7.1%, Johnson Controls’ stock has tacked on 1.8% and the Dow Jones Industrial Average has advanced 6%.

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.

From:: Stock Market News

Bank of England votes 8-1 to hold key rate at 0.25%

The Bank of England on Thursday left its key interest rate at a record low 0.25%, meeting widely held expectations. The vote to hold the rate steady was 8-1, with board member Kristen Forbes backing a rate increase.
The central bank left unchanged the size of its asset purchase program at £435 billion ($533 billion) and its corporate-bond purchase program at £10 billion. The central bank expects U.K. inflation to rise above 2% in the “next few months,” it said in a statement. Headline inflation hit 1.8% in January, moving closer to the bank’s target of 2%. The pound jumped to $1.2330 from $1.2269 ahead of the decision. Sterling bought $1.2291 late Wednesday in New York.

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.

From:: Stock Market News

Letter bomb sent to IMF office explodes: reports

A letter delivered to the International Monetary Fund’s office in Paris exploded, injuring one person, according to media reports Thursday. The incident comes after a suspicious package containing explosives was found Wednesday at the German finance ministry in Berlin. That package was found in the mail-handling area of the building, but wasn’t opened.

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.

From:: Stock Market News

Canada Goose prices IPO above expected range, raises about $255.3 million

Canada Goose Holdings Inc. disclosed Thursday that it prices its initial public offering at C$17 a share, above the expected range of $C14 a share to C$16 a share. The outdoor apparel company is selling 20 million shares, about 6.3 million shares from the company and 13.7 million shares from selling shareholders, to raise C$340 million, or the U.S. equivalent of about $255.3 million at current exchange rates. The stock will trade in the U.S. on the New York Stock Exchange and in Canada on the Toronto Stock Exchange, under the ticker symbol “GOOS.” The lead underwriters are CIBC Capital Markets, Credit Suisse, Goldman Sachs and RBC Capital Markets.

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.

From:: Stock Market News

U.K.’s Brexit bill approved by the queen: reports

Queen Elizabeth II has approved the U.K. government’s Article 50 bill that paves the way for the start of the Brexit process, reports said Thursday. The queen gave her Royal Assent to the bill that was passed earlier this week by British lawmakers. U.K. Prime Minister Theresa May is expected to trigger the start of the process later this month.

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.

From:: Stock Market News

Dollar General’s stock surges after profit and sales beat, dividend raised

Shares of Dollar General Corp. surged 5.8% in premarket trade Thursday, after the discount retailer reported fiscal fourth-quarter profit and sales that beat expectations. For the quarter to Feb. 3, net income rose to $414.2 million, or $1.49 a share, from $376.2 million, or $1.30 a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.41. Revenue increased to $6.01 billion from $5.29 billion, beating the FactSet consensus of $5.96 billion. Same-store sales grew 1.0%, beating expectations of a 0.2% rise, as a decline in traffic was offset by an increase in average transaction amount. For fiscal 2017, the company expects EPS of $4.25 to $4.50, below the FactSet consensus of $4.67. Separately, Dollar General said it raised its quarterly dividend by 4% to 26 cents a share from 25 cents a share, payable April 25 to shareholders of record on April 11. In addition, Chief Merchandising Officer James Thorpe will retire effective April 15. The stock has declined 1.7% year to date through Wednesday, while the SPDR S&P Retail ETF has lost 4.0% and the S&P 500 has gained 6.5%.

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.

From:: Stock Market News

Mortgage Apps Up Despite Highest Rates in 3 Years

The volume of loans used to finance a home purchase is expected to see a 60 percent quarter-over-quarter surge as refinances drop.

Residential loan originators are forecasted to generate $349 billion in mortgage production during the first-three months of this year.

Business is then expected to jump to $433 billion in the second quarter then decline to $419 billion during the following three months.

From:: Financing

Ellie Mae: Interest rates on closed loans rise to 16-month high

The average interest rate for 30-year, fixed-rate mortgages rose to a 16-month high in February, according to the new data from Ellie Mae. The increase in interest rates depressed the refinance market, as the report showed that the share of purchase mortgages closed rose to 57% in February. That’s the largest that figure has been since July 2016. …read more

From:: Real Estate Wire

Attempt two: loanDepot reconsiders filing for IPO?

A little more than a year after it withdrew its Initial Public Offering, loanDepot is reported to once again be considering the possibility of a stock offering. When loanDepot announced that it canceled its IPO, loanDepot CEO Anthony Hsieh said, “While an IPO continues to be an option, perhaps one day in the future, it’s not a necessity.” Could now finally be the right time for the company? …read more

From:: Real Estate Wire

Housing finance prepares for wave of new interest rate hikes

The Federal Reserve elected to raise rates for the first time in 2017, and the industry is already gearing up for more rate hikes to come. While some economists project as many as four rate hikes for this year, others are more conservative in their projections. …read more

From:: Real Estate Wire

Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

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.

From:: Stock Market News