Foreclosures | Mortgages | Financing
Aspen, Colorado just saw its highest priced home sale since the end of 2015, which sold for over $24 million. These pictures show an inside look on the home, and the mountainous scenery that surrounds it. Simply stunning, sure, but is it a bargain? …read more
From:: Real Estate Wire
WASHINGTON (MarketWatch) — National Security Adviser Michael Flynn has apologized to Vice President Mike Pence over his discussions with the Russian ambassador to the U.S., the Associated Press reported, citing an administration official. Pence said in televised interviews that Flynn had not discussed sanctions with the Russian envoy, but Flynn now has told the White House that the topic may have come up, the AP reports. Pence relied on the initial Flynn account in his interviews, the AP says. Separately, White House Counselor Kellyanne Conway told MSNBC that Flynn has the “full confidence” of President Donald Trump.
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From:: Stock Market News
IDT Inc. said late Monday it has agreed to buy GigPeak Inc. for $3.08 a share, or about $250 million in cash. That would represent a premium of 22% to GigPeak’s stock closing price on Friday, the companies said in a statement. That acquisition would provide IDT with a “highly regarded” optical interconnect product and technology business that is complementary to IDT’s real-time interconnect products, the companies said. Shares of IDT fell 3% in late trading after ending the regular session down 0.7%. GigPeak’s shares rose 12% after hours; the stock ended the regular session up 7.5%.
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
Apple Inc.’s stock returned Monday to record highs for the first time in two years, extending a run of gains following fiscal first-quarter results and after an upbeat research note from Goldman Sachs. The previous record close was $133.00 on Feb. 23, 2015. From there, the stock had tumbled as much as 32% to a near two-year low of $90.34 on May 12, 2016, and has soared 48% since then. The stock has surged 9.8% since Apple reported strong results after the Jan. 31 close, dispelling fears of slowing iPhone sales. On Monday, Goldman Sachs raised its stock price target to $150, which is 13% above current levels from $133, citing “increased confidence” that “major new features” would boost sales of new iPhones. The stock has soared 23% over the past three months, while the Dow Jones Industrial Average has gained 8.3%.
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.
From:: Stock Market News
Tornado victims in the Louisiana area are about to receive relief after President Trump issued a disaster declaration for the area. HUD explains what options are available to homeowners and low-income renters. …read more
From:: Real Estate Wire
Marathon Pharmaceuticals said it would pause the launch of its recently-approved Duchenne muscular dystrophy drug after an outcry over Emflaza’s $89,000-a-year price tag. The privately-held company said it has heard concerns about the drug’s pricing and reimbursement details from the DMD community. “Please know we sought FDA approval of Emflaza to improve access to this treatment,” Chief Executive Officer Jeffrey Aronin said. “We have and always will support you in that endeavor.” He did not say when the drug would be launched, or whether the company would change its price. Under 1,000 patients who receive the drug for free through Marathon’s expanded access program will continue to do so, Marathon said. Emflaza, which is a corticosteroid, was only the second DMD drug approved in the U.S., although corticosteroids are used for the degenerative disease in other parts of the world. The first DMD drug, made by Sarepta Therapeutics Inc. , was approved last year and is priced at about $300,000. Some of the patient community’s concerns were around whether Emflaza’s price would effect health insurance coverage of Sarepta’s drug, Aronin said. Sarepta shares have sunk 30.0% over the last three months, compared with a 7.6% rise in the S&P 500 .
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From:: Stock Market News
Oil prices settled with a loss Monday for the first time in four sessions. Recent data pointing to sizable growth in U.S. crude production, including a U.S. government forecast Monday showing an expected rise in domestic shale-oil output in March, pressured prices despite reports of major production cuts by OPEC members. March West Texas Intermediate crude fell 93 cents, or 1.7%, to settle at $52.93 a barrel on the New York Mercantile Exchange.
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From:: Stock Market News
Among a host of recent appointments at mortgage banking firms are a pair of regional vice presidents and variety of other home-lending executives.
On Feb. 7, American Pacific Mortgage Corp. announced that Michael Pankow was promoted to executive vice president of national production.
Pankow previously was general manager for nearly 10 years at Big Valley Mortgage, a subsidiary of Roseville, California-based American Pacific.
From:: Financing
Oil production from seven major U.S. shale plays is forecast to climb by 80,000 barrels a day to 4.873 million barrels a day in March from February, according to a monthly report from the Energy Information Administration released Monday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the largest climb among the big shale plays. It’s expected to rise by 70,000 barrels a day. Output from the Bakken, which covers parts of Montana and North Dakota as well as parts of Canada, however, is expected to fall by 18,000 barrels a day. Just minutes ahead of the day’s settlement, oil prices continued their declines. March West Texas Intermediate oil traded at $52.88 a barrel, down 98 cents, or 1.8%, 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
President Trump’s recent presidential memorandum and executive order regarding financial regulation reform left more questions than answers in the short term. So what does the Consumer Financial Protection Bureau need to do different now? Truth be told, not much. …read more
From:: Real Estate Wire