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Colgate-Palmolive misses on fourth-quarter revenue, reports in-line earnings

Colgate-Palmolive reported fourth-quarter net income Friday of $606 million, or 68 cents per share, compared to a loss of $458 million , or a loss of 51 cents per share, in the year-earlier period. It reported adjusted earnings per share of 75 cents, in line with the FactSet consensus of 75 cents. Sales were $3.72 billion, below the year-earlier number of $3.89 billion and below the FactSet consensus of $3.89 billion. The company expected earnings per share on a dollar basis to be flat for the coming full year and low-single-digit in adjusted EPS. Shares of Colgate-Palmolive have fallen 3.3% in the past three months, compared to the S&P 500’s gain of 7.7%.

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Urban Institute: Suspending the FHA mortgage insurance premium cut is a good idea

Taking the suspension one step further, the Urban Institute posted a blog on the recent HUD announcement, stating that not only is the suspension a good idea but it should be stopped until the FHA Mutual Mortgage Insurance Fund can build up more money. Unlike those who are arguing that suspending the cut is leaving thousands of borrowers on the sidelines, the blog says, overall, it’s not the best option. …read more

From:: Real Estate Wire

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Pence, Hensarling: Dismantling Dodd-Frank remains a high priority

It’s been a busy first week in office for President Donald Trump, with executive orders on immigration, energy, trade, health care and more being handed down daily. But executive orders are just the preamble to the big initiatives that Trump and the Republican majority in Congress are expected to push for shortly. Chief among those is the “dismantling” of the Dodd-Frank Wall Street Reform Act. …read more

From:: Real Estate Wire

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Freddie’s Book Tops $2 Tril, New Biz at 4-Yr High

In addition to pushing its book of business past $2 trillion, Freddie Mac lifted secondary mortgage activity to a four-year high and cut delinquency to an eight-year low.

The total mortgage portfolio at the Federal Home Loan Mortgage Corp. concluded 2016 at $2.0114 trillion — surpassing $2 trillion for the first time since June 2012.

McLean, Virginia-based Freddie Mac’s book of business was $1.9948 trillion as of Nov. 30, 2016. As of year-end 2015, the total portfolio was $1.9416 trillion.

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From:: Financing

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Proofpoint shares slide while earnings top Street view

Proofpoint Inc. shares slipped in the extended session Thursday even after the cloud-based security company’s results and outlook topped Wall Street estimates. Proofpoint shares declined 2% to $80.95 after hours. The company reported adjusted fourth-quarter earnings of 18 cents a share on revenue of $106.8 million. Analysts surveyed by FactSet had estimated 13 cents a share on revenue of $104.8 million. The company forecast adjusted first-quarter earnings of 7 cents to 9 cents a share on revenue of $109 million to $111 million. Analysts expect 5 cents a share on revenue of $106.6 million.

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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TransCanada applies for presidential permit for Keystone XL pipeline

TransCanada Corp. said late Thursday it has submitted a presidential permit application to the State Department for approval of its Keystone XL pipeline. Earlier this week, President Donald Trump signed orders to revive Keystone XL and another pipeline in the Midwest, the Dakota Access, or Bakken pipeline. Shares of TransCanada were down 2% in the late session after ending the regular session down 1.4%. Then-President Barack Obama rejected the pipeline in late 2015. The pipeline is planned to begin in Hardisty, in Canada’s Alberta province, and end 1,179 miles later at Steele City, Neb.

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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Wynn shares surge as Palace results overshadow earnings miss

Wynn Resorts Ltd. shares rallied in the extended session Thursday even after the casino operator’s earnings missed Wall Street targets. Wynn shares surged 7.3% to $102.50 after hours. The company reported fourth-quarter earnings of $1.12 a share, up from 86 cents a share in the year-ago period, owing to strong results from its Wynn Palace resort. Revenue rose to $1.3 billion from $946.9 million a year ago. On an adjusted basis, Wynn reported earnings of 50 cents a share. Analysts surveyed by FactSet had estimated adjusted earnings of 87 cents a share on revenue of $1.26 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.

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Juniper Networks shares down 7% after earnings

Juniper Networks Inc. shares tanked late Thursday after the company beat fourth-quarter earnings and sales expectations but predicted lower-than-expected first-quarter results. Juniper said it earned $197.4 million, or 51 cents a share, in the fourth quarter, flat year-over-year. Adjusted for one-time items, the company earned $254.3 million, or 66 cents a share, compared with 63 cents a share a year ago. Revenue hit $1.39 billion in the quarter, up 5% from $1.32 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 63 cents a share on sales of $1.36 billion. Juniper said it expects revenue of about $1.2 billion in the first quarter and an adjusted net income between 38 cents a share and 44 cents a share. The analysts surveyed by FactSet had expected first-quarter EPS of 46 cents a share.

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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VMware shares rise on strong earnings, stock buyback

Shares of VMware Inc. rose in Thursday’s extended session after the virtualization software vendor posted strong earnings and announced a sizeable stock repurchase plan. VMware reported its fourth-quarter earnings rose to $441 million, or $1.04 a share, from $373 million, or 88 cents a share, a year ago. On an adjusted basis, VMware would have earned $1.43 a share. Revenue grew to $2.03 billion versus $1.87 billion. Analysts surveyed by FactSet had forecast the company to earn $1.39 a share. VMware also said it will buy back up $1.2 billion in Class A common shares. The stock rose 2.5% 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.

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From:: Stock Market News