Video game retailer GameStop sees shares fall 8% after Microsoft announces Netflix-like service

Shares of GameStop Corp. were down nearly 8% midday on Tuesday. The drop comes after Microsoft Corp. , which makes the Xbox gaming console introduced Xbox Game Pass, a Netflix-like service giving members unlimited access to more than 100 games for $9.99 a month. Microsoft’s new service, expected to launch this spring, threatens the cornerstone of GameStop’s business: buying and reselling video games. According to the company’s 10-K these pre-owned game sales accounted for 25% of the company’s gross profit in 2015. Shares of GameStop have fallen 20% in the last 12 months, while the S&P 500 index is up more than 21%.

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.

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From:: Stock Market News

Signet lashes out at media for ‘distorted and inaccurate’ reports on sexual harassment

Signet Jewelers Ltd.’s [sig] Sterling Jewelers responded Tuesday to what it called “distorted and inaccurate” media reports regarding an arbitration claim brought against the company, which the company said had nothing to do with sexual harassment or sexual impropriety as reported. “It’s critical to understand that an arbitration claim was brought against Sterling in 2008 that alleged gender discrimination in pay and promotion,” the company said in a statement. “None of the 69,000 class members have brought legal claims in this arbitration for sexual harassment or sexual impropriety.” The Washington Post had reported late Monday that Sterling, which operates Kay Jewelers, Zales and Jared the Galleria of Jewelry stores, was being accused by hundreds of former employees of fostering an atmosphere of rampant sexual harassment and discrimination. Sterling said the allegations publicized by claimants’ counsel create a “distorted and inaccurate picture of our company,” as the involve a “very small number of individuals” in a workforce of more than 84,000 during the class action period. The stock tumbled 9.4% in midday trade to the lowest price seen since September 2013. It has plunged 28% over the past three months while the S&P 500 has gained 7.2%.

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.

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From:: Stock Market News

Apple stock target boosted to $151 at UBS

Apple Inc. stock scored another price-target increase Tuesday as enthusiasm surrounding the iPhone 8 continues to grow. UBS increased its 12-month target on Apple shares to $151 from $138 and reiterated a buy rating. In a note to clients, UBS’s Steve Milunovich said he believed augmented reality, which could be a new feature unleashed in September with the next-generation iPhone, “could be a boost to Apple” long term. This comes after Apple CEO Tim Cook touted augmented reality in a recent interview with a U.K. newspaper, calling it a “huge” market that could potentially shake up the consumer device industry as much as the smartphone did. Also this week, Mizuho Securities increased its Apple stock target to $150 from $135. Shares of Apple gained 0.3% to $137.30 in late-morning trade. They’ve increased 23% in the past three months and nearly 42% in the past year, hitting all-time records this month. The Dow Jones Industrial Average , a 30-member index that includes Apple, is up 9% in the past three months and 25.2% in the past year.

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.

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From:: Stock Market News

Coasts, Mountain Region Lead Home Price Gains

Multiple home price indices continue to ascend. Leading the gains are coastal locations, though the Mountain Region is faring well.

Between November and the final month of last year, estimated prices on U.S. residential properties moved up by 0.4 percent.

Prices in the East South Central climbed 2.1 percent — the biggest month-over-month increase of any census division in the country.


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From:: Financing

Get Your Properties Ready with Some Spring Cleaning

By Mary Girsch-Bock

Just a few weeks ago Punxsutawney Phil predicted six more weeks of winter; it’s no secret that some parts of the U.S. are currently experiencing record warm temperatures. In the Southwest, grass is already starting to appear, and bushes beginning to bloom. And though a lowly rodent’s prediction may end up being accurate, it’s never too early to start preparing for spring, no matter where your properties are located or what a groundhog says.

Here’s a quick list of things you can begin today, no matter what the temperature is outside:

· Check out your HVAC units. Nobody wants to find out that the units don’t work on the first 80 degree day of the year. Don’t assume that because they worked the last time they were used that the same holds true months later. Doing this now will also ensure that there is plenty of time to have them repaired and up and running before that heat wave hits.
· Get up on a ladder and look at the roof and the gutters. This is particularly important if your region has seen a great deal of rain and/or snow this winter. Again, being pro-active can really pay off, particularly in repairing roofs prior to the spring rainy season. And while you’re up there, make sure that gutters are clean as well.
· Prepare your open areas for spring landscaping by cleaning up debris left from the winter, such as dead and fallen branches and dead leaves. You’ll also want to take a look at your current landscape and arrange to have bushes and trees trimmed prior to any spring planting being done.
· Create an inventory of any work that needs to be completed, and get bids from area contractors, so you’ll be ready to go once spring arrives.
· Inspect roads, parking lots, and driveways for damages and make arrangements to repair any cracks or holes before spring arrives. This is particularly important for areas that are prone to snow, as salt and sand can accelerate road damage.
· Create a spring cleaning event for your properties, encouraging residents to participate in the clean-up effort by getting rid of their old stuff. Later in the spring, you can also hold a community garage sale, where residents can sell their belongings.

Seasoned property managers know that there’s a lot of work that needs to be completed prior to the arrival of spring, but there’s no reason that you can’t get started on some of that today.

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From:: Property Management

2017 Home Purchase Financing Forecast Boosted

The volume of home purchase financing expected this year has been lifted. In addition, last year’s overall origination estimate also increased.

U.S. mortgage bankers are expected to generate $335 billion in residential loan production during the first-three months of this year.

Home-lending volume is then expected to rise to $443 billion in the second quarter before settling back to $432 billion three months later.


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From:: Financing