Tesla named top pick for 2017 by Baird

Tesla Motors Inc. was named top pick for 2017 by Baird Equity Research Friday, with analyst Ben Kallo forecasting that Tesla Energy and Model 3 production will beat expectations. “We believe TSLA’s energy storage business and growth opportunity is not currently reflected in share prices,” Kallo wrote in a note. Baird believes battery sales are increasing and should get another boost from the battery production ramp coinciding with the launch of the Model 3, the all-electric sedan Tesla hopes to sell late next year for about $35,000. “We recommend accumulating shares ahead of additional details being released about TSLA’s current battery costs and density metrics, and believe the upcoming Gigafactory tour on January 4 will be a positive catalyst for the stock,” he wrote. The company’s Powerwall 2 battery offers a competitive pricing advantage on a per kilowatt basis, and should help Tesla grow its share of homes and small business customers, he wrote. The company’s fourth-quarter delivery number might create short-term volatility, but the stock should move higher, he said. Kallo is further expecting Tesla to do a deal some time in the first half that would remove an overhang on the stock. Tesla shares were slightly higher premarket, but are down 10.6% on the year, while the S&P 500 has gained 10%.

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

Innocoll shares tumble 49% after FDA seeks further data on treatment for post-surgical pain

Shares of biotech Innocoll Holdings Plc tumbled almost 50% in premarket trade Friday, after the U.S. Food and Drug Administration issued a refusal to file letter for the company’s product candidate for a treatment for post-surgical pain. The FDA “determined that the application, which was submitted in October 2016, was not sufficiently complete to permit a substantive review,” the company said in a statement. The FDA said Xaracoll should be characterized as a drug and device combination, which would require additional data. “We expect to work with the FDA over the coming weeks in an effort to address the open issues and to define a path forward for a successful re-filing of our application at the earliest point in time,” Chief Executive Tony Zook said. Janney analyst Ken Trvobich downgraded the stock to neutral on the news, and slashed his fair value estimate to $2 from $9. He is expecting the news to delay the new drug application by a year and said the company does not have sufficient cash resources to fund its operations through 2017. “We expect the need for additional capital to lead to a future financings that are far more dilutive than we previously estimated,” he wrote. Shares are now down 79% on the year, while the S&P 500 has gained 10%.

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

Ruble slides after diplomatic spat between U.S. and Russia

The ruble slid 1.8% against the dollar on Friday as diplomatic tensions between the U.S. and Russia intensified. The dollar bought 61.326 rubles compared to 60.266 late Thursday in New York. The ruble slump came after U.S. President Barack Obama on Thursday leveled sanctions against Russia over the country’s alleged hacking during the U.S. presidential campaign and other diplomatic tensions. As part of the sanctions, the U.S. expelled 35 Russian diplomats and ordered two Russian diplomatic compounds shut down. Russia responded by reportedly closing down a school attended by diplomats’ children and announced plans to kick out 35 U.S. diplomats.

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

Fannie Delinquency Rises 1st Time in Nearly 7 Years

After falling to the lowest level in over eight years, delinquency rose for the first time in almost seven years at the Federal National Mortgage Association.

The Washington-based organization reported in its monthly summary that its total book of business concluded November 2016 at $3.1376 trillion.

Fannie Mae’s book of business expanded from $3.1297 trillion as of one month earlier and has also grown from $3.0999 trillion as of one year earlier.


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From:: Financing

Mortgage Rates Little Changed, Likely to Fall

There was little movement in fixed rates on residential loans during the past week, and the outlook is for a nice improvement over the next seven days.

On conforming purchase-money mortgages, 30-year fixed rates averaged 3.80 percent in November, the Federal Housing Finance Agency reported.

Thirty-year rates worsened 4 basis points from a month earlier. FHFA’s survey reflects rates on 4,344 loans closed in the last five days of last month.


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From:: Financing

Redfin: Here are 2016’s hottest neighborhoods

As 2016 comes to a close, it will be remembered as a year of low interest rates (for the most part) combining with tight inventory to turn some markets into a cutthroat competition for those seeking to buy a home. But what areas were truly the hottest of the year, with homes flying off the market in less than a week and often well-above asking price? Here’s your answer. …read more

From:: Real Estate Wire

Stocks finish little changed but off session lows

U.S. stocks ended little changed after coming off session lows in afternoon trade in the penultimate trading day of 2016, leaving the Dow Jones Industrial Average around 180 points shy of the so-far-elusive 20,000 milestone. The S&P 500 ended less than 0.1% lower at 2,249.26, according to preliminary figures, while the Dow declined around 14 points, or 0.1%, to 19,820. The Nasdaq Composite lost 0.1% to settle around 5,432.

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

Fast Forward: Keeping Ahead of the Technology Curve

By Susanne Dwyer

Technology is shaping the future of real estate, and in today’s dynamic landscape, fully leveraging technology is critical to success—for brands, brokers and agents.

Sir Arthur C. Clark, acclaimed science fiction writer and co-author of “2001: A Space Odyssey,” noted that any sufficiently advanced technology is equivalent to magic. Today, truly successful real estate professionals are leveraging technology tools to create magical experiences that amaze and delight their clients in a completely transparent way.

Zap—a network of brand, broker and agent websites with an integrated CRM being rolled out for all of Realogy’s brands—is just the starting point at ERA Real Estate. The brand, known for being the first to see the business applications of the fax machine back in the early 1970s, has continued to innovate with a forward-thinking approach. This approach is apparent in how ERA Real Estate has deployed Zap across its network.

As the first real estate brand to connect all of its affiliated brokers and agents on the same platform, we created a unique, competitive position for our brand,” says Chris Trick, chief marketing officer at ERA Real Estate.

In order to drive traffic to the new platform and maximize results for the entire ERA® system, the brand launched an aggressive digital media campaign, complemented by an innovative co-operative lead generation program called “Light It Up,” which matched broker commitments dollar for dollar.

“As a result, ERA.com site traffic has increased 70 percent year-over-year, in addition to a surge of organic traffic of more than 100 percent,” notes Trick. “More importantly, we’re starting to see positive shifts in lead source as we recapture a higher share of leads coming from ERA.com.”

Driving traffic to the site is just part of the strategy. Getting ERA-affiliated professionals to use the site is just as important. To that end, the ERA learning team created multiple touch points for gaining mastery of the Zap CRM platform. From live, in-market instructional workshops to virtual refresher courses, ERA taps into its own corporate team, as well as Zap specialists who have gone through a “train the trainer” course to become the go-to expert for their company.

Regional learning events devoted entirely to Zap bring together upwards of hundreds of ERA brokers and agents to learn, collaborate and share best practices.

The multi-faceted approach to increasing Zap engagement has produced results: those ERA-affiliated professionals who are most engaged in Zap are seeing high average increases in productivity—demonstrating a direct correlation between engagement and productivity.

“On average, companies that implemented Zap in 2015 are seeing a greater increase in year-to-date GCI growth,” says Trick. “This underscores the importance of focusing on adoption and engagement.”

To foster usage across the network and close out 2016 in a strong position, ERA amplified the brand’s incredible momentum with an enticing incentive called “Zap to the Future.” During the month of November, ERA companies that had 50 percent of their affiliated agents log into the Zap platform were entered into a drawing for a three-month SEM campaign. Additionally, each day in November, an ERA-affiliated sales associate who …read more

From:: Real Estate News