Foreclosures | Mortgages | Financing
This Spring is already shaping up to be one of the strongest home buying seasons in recent memory and it hasn’t even begun. In fact, sellers are still in hibernation even as buyers fight over the current dwindling inventory. Northwest MLS expects an uptick in listings later this Spring, but will it be enough to feed the frenzy? Probably not. …read more
From:: Real Estate Wire
Shares of H&R Block Inc. rose more than 8% late Tuesday after the tax preparer and tax software maker reported a narrower-than-expected quarterly loss and beat revenue expectations. H&R Block reported a net loss of $101 million, or 49 cents a share, compared with a loss of 34 cents a share in the same period last year. Revenue fell to $452 million from $475 million a year ago, primarily on fewer clients in the assisted and do-it-yourself tax preparation businesses resulting from the delay in the overall tax season, and the pricing impact of early-season promotions. Analysts polled by FactSet had expected H&R Block to report a loss of 52 cents a share on revenue of $427 million in the quarter. The company typically reports a fiscal third-quarter operating loss due to the seasonality of its tax business. Shares ended the regular session down 0.6%.
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From:: Stock Market News
Facebook Inc. has named Susan Taylor as chief accounting officer to replace Jas Athwal, who resigned on Feb. 17, the social media company said in a regulatory disclosure on Tuesday. Taylor is currently controller and CAO at LinkedIn Corp. and will start in her new position on April 17. She will receive an annual base salary of $400,000 and a one-time signing bonus of $400,000. Shares of Facebook were mostly unchanged after hours.
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
Snap Inc. announced Tuesday that its underwriting banks had sold 30 million additional shares available in its initial public offering, pushing the total take to $3.91 billion. Snapchat’s parent company last week sold 200 million shares at $17 apiece in the largest U.S. IPO since 2014 , with shares soaring in the first two days of public trading before heading back down in the last two sessions. The company announced Tuesday afternoon that the underwriters had sold an additional 30 million shares, known as a “green shoe” or “overallotment,” with those shares coming from both the company and selling stockholders. The stock reached its lowest prices in four days of trading Tuesday before closing with a 9.8% decline at $21.44; shares ticked up slightly in late trading to about $21.55.
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
Valeant Pharmaceuticals International Inc. shares slid 6% Tuesday, after the company said it is seeking to refinance and amend more of its debt, including removing covenants from Term B loans. The company said it will use the proceeds of the sale of its skincare assets to L’Oreal to pay down about $1.1 billion of senior secured term loans. The troubled drug company will seek to refinance and amend its existing credit agreement, issue new Term B loans that extend the maturity of current Term B loans due before 2022, issue new secured debt, and repay its remaining Term A loan due in April 2020. Valeant further plans to repay a portion of its 6.75% secured debt due in 2018, as well as relax maintenance covenants in the revolver and remove the covenants from Term B loans. “While the refinancing is not surprising, it reflects the cloudy outlook on future earnings, in our view,” said Mizuho analyst Irina Koffler. “Management previously indicated that it would consider refinancing and was more focused on its EBITDA than its EPS.” Valeant’s most active bonds, the 6.125% notes that mature in 2025, were last quoted at 79 cents on the dollar, according to MarketAxess. The stock has fallen 82% in the last 12 months, while the S&P 500 has gained 18%.
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
After setting social media sites on fire from a comment in his speech calling slaves immigrants, Ben Carson set to work clarifying his comments. After several posts explaining immigration is not necessarily voluntary, the HUD secretary posted this to Facebook, explaining his stance on immigration versus slavery. …read more
From:: Real Estate Wire
Oil prices settled with a slight loss on Tuesday, sticking to a tight trading range as traders awaited weekly U.S. petroleum inventory data. The Energy Information Administration will issue its report early Wednesday, after the American Petroleum Institute’s figures late Tuesday. Analysts surveyed by S&P Global Platts forecast a weekly rise of 1.6 million barrels for crude stockpiles. April West Texas Intermediate crude fell 6 cents, or 0.1%, to settle $53.14 a barrel on the New York Mercantile Exchange.
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
Health and Human Services Secretary Tom Price said Tuesday that the House Republican health-care bill is a “work in progress” when asked if the administration supports the entire bill. The bill was released late Monday and would replace the Affordable Care Act. Price said the Trump administration supports the bill as a step in “what we believe is the right direction.”
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
Gold futures extended their decline to a sixth-straight session on Tuesday to mark their lowest settlement in nearly five weeks. Expectations for a U.S. interest-rate increase as early as next week dulled investment demand for the metal. April gold declined by $9.40, or 0.8%, to settle at $1,216.10 an ounce–the lowest settlement since Feb. 1, according to FactSet 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.
From:: Stock Market News
Several real estate finance firms were recently named as top employers in their communities, while some also touted their standing among peers.
The San Diego Union Tribune named Guild Mortgage Co. to its San Diego’s Top Workplaces ranking, according to a Jan. 4 press release.
Guild said the list was limited to organizations that had at least 50 employees on their payroll. Guild employs 600 of its 3,606 staff in San Diego.
From:: Financing