Foreclosures | Mortgages | Financing
Michael Flynn, President Trump’s national-security adviser, said Wednesday that the U.S. is “officially putting Iran on notice” following what he said were recent actions including a “provocative ballistic-missile launch.” In a statement at the daily White House briefing, Flynn did not elaborate on what “on notice” means.
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From:: Stock Market News
Gold futures edged a bit higher in electronic trading from their Wednesday settlement level after theU.S. Federal Reserve held interest rates steady, as expected, but offered few clues on the central bank’s next move. April gold was at $1,209.80 an ounce in electronic trading. It had settled at $1,208.30 an ounce, down $3.10, or 0.3%, for the session.
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From:: Stock Market News
Shares of Mobileye NV fell 1.3% in midday trade Wednesday after the company was downgraded to equal weight from overweight at Morgan Stanley. The analysts cut their price target to $44 from $48. The downgrade came as the analysts see a big market for advanced driver assistance systems, but believe gaining share in that market requires lowering prices, which will pressure margins. They believe competition in autonomous vehicles is growing, which requires teaming up with other firms. Those partnerships may require more resources and research and development from Mobileye, they said, adding more costs. Mobileye is a “strong company,” they say, but it faces added costs ahead.
Shares of Mobileye have gained 13% in the past three months, compared to the S&P 500’s gain of 7.7%.
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From:: Stock Market News
Shares of Laureate Education Inc. , a for-profit college company, slumped 8% in the company’s debut on the Nasdaq Wednesday. The company priced its offering at $14 and sold 35 million shares to raise $490 million. The company gave its underwriters a 30-day option to buy up to 5.25 million additional shares at the IPO issue price. Shares were trading at $12.91 midday Wednesday. Credit Suisse, Morgan Stanley & Co and Barclays Capital were the lead underwriters on the offering.
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From:: Stock Market News
After soaring in the final month of last year, securitizations at Fannie Mae sank in the first month of this year — leading overall agency issuance lower.
January 2017 saw $131.788 billion in fixed-rate mortgage-backed securities that were issued on behalf of Fannie, Freddie Mac and Ginnie Mae.
Activity retreated from the previous month, when aggregate loan securitizations at the trio of government-controlled entities came to $156.852 billion.
From:: Financing
Apple Inc. is back in the lead in the smartphone market, surpassing Samsung in terms of holiday shipments, according to data from the International Data Corporation released Wednesday. Propelled by the success of the iPhone 7 and 7 Plus, Apple shipped 78.3 million units in the calendar fourth-quarter, up 4.7% from the year-earlier period. Samsung sold 77.5 million units in the fourth-quarter, down from 81.7 million units in the year-earlier period, and saw its worldwide marketshare dip below 20% for the first time in four years, according to the IDC. Samsung suffered from the recall of its Note 7 smartphone as well as pressure from other Chinese companies. Samsung still led Apple in marketshare for the full year of 2016. Apple and Samsung still commanded 18.3% and 18.1% market share respectively, but Huawei, a Chinese phone company, moved up to 10.6%. Oppo and Vivo also saw big percentage gains in shipment growth compared to the year-earlier period. “It is worth noting that despite the success of these brands within China, they will need to find growth beyond their home turf to eventually knock off either Samsung or Apple at the top,” said Anthony Scarsella, a research manager with IDC. Shares of Apple were up 5.6% Wednesday, while the S&P 500 was down 0.07%.
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From:: Stock Market News
ADP’s employment report shows the highest increase the nation has seen since June 2016. However experts explain why this may not fall in line with the jobs report later this week. Also, will this stronger-than-expected number influence the FOMC decision to raise rates in February? …read more
From:: Real Estate Wire
After months of rumors, Invitation Homes, Blackstone Group’s single-family rental operator, finally went public on Tuesday, raising more than $1.5 billion in its initial public offering. And in early trading, the stock traded above the IPO price of $20, checking in at $20.26 as of 10:58 a.m. Eastern. …read more
From:: Real Estate Wire
Consumers will spend an average of $136.57 this year on Valentine’s Day gifts, experiences and other purchases, down from a record high of $146.84 last year, according to the National Retail Federation’s annual survey. Total spend will also decrease, to $18.2 billion from $19.7 billion, which was also a record. The organization found that the number of people who plan to celebrate the holiday has fallen 10 percentage points since 2007, to 54% this year. “Consumers will find that retailers recognize that their customers are looking for the best deals and will offer good bargains just as they did during the holiday season,” said NRF Chief Executive Matthew Shay in a statement. Retailers like Macy’s Inc. and Target Corp. have reported weak holiday sales, in part due to heavy discounting.
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From:: Stock Market News
Oil futures held onto most of their earlier gains on Wednesday afterthe U.S. Energy Information Administration reported an increase of 6.5 million barrels in domestic crude-oil supplies for the week ended Jan. 27. The American Petroleum Institute late Tuesday reported a rise of 5.8 million barrels, according to sources, while analysts polled by S&P Global Platts forecast a climb of 2.2 million barrels. Gasoline supplies rose by 3.9 million barrels, while distillate stockpiles gained 1.6 million barrels last week, according to the EIA. March crude traded up 21 cents, or 0.4%, at $53.02 a barrel on the New York Mercantile Exchange.
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From:: Stock Market News