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Home sales slipped in December, but not enough to keep 2016 from being the best year in a decade for existing home sales. However, despite this slip in home sales, inventory continues to struggle. In fact, housing inventory just hit the lowest level in the history of NAR’s report. …read more
From:: Real Estate Wire
The SPDR Health Care Select Sector ETF is shedding 1% in morning trade, putting it on track for a sixth-straight loss, amid uncertainty over the fallout from President Donald Trump’s intent to repeal the Affordable Care Act. The sector ETF (XLV) has now lost 2.9% during its current losing streak, which would be the longest such streak since it the XLV fell 7-straight sessions through Sept. 28, 2015. The XLV has now gained just 1.2% since the election, paring gains of as much as 4.9% through Jan. 10. In comparison, the S&P 500 has climbed 6% since the election. Within the XLV, shares of Johnson & Johnson , the most heavily weighted component, slumped 2.1% after providing a downbeat profit outlook. Among shares of other sector heavyweights, Pfizer Inc.’s gave up 1.5%, Merck & Co. Inc.’s shed 1.6% and UnitedHealth Group Inc.’s gained 0.7%.
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
Fifth Third reported drastic decreases in its fourth quarter earnings today. Its net income dropped 40% from last year. However, despite the decreases, residential mortgage loans still increased by 10% from the prior year. …read more
From:: Real Estate Wire
Chipotle Mexican Grill Inc. said Tuesday that it has launched an online game in partnership with Avocados From Mexico called “‘Cado Crusher.” Avocados From Mexico is a subsidiary of the Mexican Hass Avocado Importers Association. Players have three rounds to smash and mix ingredients to make guacamole. In return, they receive a mobile offer good for a free order of chips and guacamole with the purchase of an entree at any Chipotle restaurant in the U.S. The game lasts through Feb. 7 while supplies last with all offers expiring on Feb. 28. Chipotle shares are up 0.7% in Tuesday trading, but down nearly 9% for the past year. The S&P 500 index is up almost 19% for the last 12 months.
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
DineEquity Inc. shares fell 2.3% in Tuesday trading after it was downgraded to neutral from buy at Instinet on concerns about same-store sales trends at its two signature brands, Applebee’s and IHOP. The price target was cut to $77 from $95. Instinet analysts say the pace of same-store sales recovery at Applebee’s is slower than anticipated, and believes there are risks of restaurant closures. “It now appears likely that Applebee’s will report the worst fourth-quarter same-store sales of any of the 25 largest restaurant chains in the U.S., as measured by domestic systemwide sales,” Instinet wrote in a Tuesday note. Pancake chain IHOP is experiencing weakening same-store sales trends as well, according to Instinet. DineEquity shares are down 13.7% for the past year while the S&P 500 index is up 19% for the same period.
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
U.S. stocks opened marginally higher on Tuesday after companies posted mixed quarterly earnings. The S&P 500 index gained three points, or 0.1%, to 2,268. The Dow Jones Industrial Average advanced nine points, or less than 0.1%, to 19,805. The Nasdaq Composite Index climbed 14 points, or 0.3%, to 5,567. Verizon Communications Inc. fell after the telecom’s quarterly profit missed forecasts. Post-it Notes and Scotch tape maker 3M Co. fell despite quarterly profit topping estimates. Health-care giant Johnson & Johnson fell after releasing a soft outlook for the year. Travelers Cos. Inc. rose after posting better-than-expected results.
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
La La Land,” distributed by Lions Gate Entertainment Corp. led the way with 14 Oscar nominations Tuesday, when The Academy of Motion Picture Arts and Sciences announced the 2017 nominees. “La La Land’s nominations, which include best picture, director, actor and actress, tie the record number garnered by “Titanic,” which won 11 in 1998 and “All About Eve,” which grabbed six wins in 1950. “La La Land” earlier this year won the Golden Globe for best musical and comedy film and is expected to go head to head with “Moonlight,” which won the Globe for best drama picture. Shares of Lions Gate are up more than 4.5% in the year so far, while the S&P 500 Index is up more than 1%. The Oscars ceremony will air at 7 p.m. Eastern on Sunday, Feb 26 on ABC.
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
Ford Motor Co. said it has hired Musa Tariq as its chief brand officer, effective Jan. 30, as part of the automaker’s expansion into becoming an auto and mobility company. Tariq was most recently at Apple Inc. as global marketing and communication director for retail. “As we grow our business, we’re also expanding our focus on and investment in building and differentiating our iconic Ford brand, which is known, loved and trusted around the world,” said Ford Chief Executive Mark Fields. The news comes on the day that auto company CEOs are scheduled to meet with President Donald Trump. Ford’s stock, which tacked on 0.3% in premarket trade, has edged up 1.4% over the past 12 months through Monday, while the S&P 500 has rallied 19%.
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
The Dow Jones Industrial Average is being weighed down by disappointing earnings reports early Tuesday, as the shares of all five of the components that reported results ahead of the open are trading lower. The combined premarket price declines of the earnings reporters are on track to shave about 30 points off the Dow’s price. Shares of Travelers Companies Inc. slipped 4 cents, of DuPont Co. shed 25 cents, of Johnson & Johnson lost $1.21, of Verizon Communications Inc. lost $1.34 and of 3M Co. gave up $1.51 in premarket trade. Meanwhile, Dow futures eased 1 point.
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
Buffalo Wild Wings Inc. shares are up 1.2% in premarket trading after the restaurant chain added $400 million to its share repurchase program, bringing the total authorization to $900 million. The company also set a new goal for reaching its leverage ratio target of 1.5 times debt to earnings before interest, tax, depreciation and amortization to the end of fiscal 2017. The previous goal was the end of fiscal 2018. Buffalo Wild Wings shares are nearly flat for the past year while the S&P 500 index is up 18.8% for the same period.
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