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Halliburton consults Russian regulators on Novomet bid

Halliburton Co. said late Friday it filed papers with Russian regulators to advance a bid to acquire interest in Novomet Oil Services Holding Ltd. The oil-services company said it made a filing with the Federal Antimonopoly Service of Russia in connection with the deal, which includes the possibility of acquiring Novomet outright. “No agreement has been reached to date,” the company said in a statement, which did not include a potential price. “However, Halliburton believes it is beneficial to seek clarity from the FAS at this point in the discussions.” Novomet specializes in artificial lift — the process in which pressure is increased in oil wells to lift crude to the surface — used in electrical submersible pumps. Halliburton shares declined 0.1% to $54.77 after hours.

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Mortgage Business Tumbles Heading Into Holidays

Moving into the holiday weekend, new mortgage business turned sharply lower. After surging in the previous report, jumbo lending activity plummeted.

An indication of upcoming originations, the U.S Mortgage Market Index from Mortgage Daily and OpenClose, was 113 in the week ended Dec. 23.

The index, which is not adjusted for seasonal factors, tumbled 26 percent from a week earlier. But compared to the same week last year, it was up 3 percent.

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Dow notches 7th straight weekly gain, longest streak in 2 years

U.S. stocks rose on Friday, with the Dow Jones Industrial Average logging its seventh straight weekly gain — the longest winning streak in two years. Health-care, consumer-staples and financial shares led the market, offsetting a drop in energy and consumer-discretionary shares to help the S&P 500 climb 2.81 points, or 0.1%, to 2,263.77. The Dow rose 15.13 points, or 0.1%, to 19,933.94, led by Proctor & Gamble Co. and UnitedHealth Group Inc. . The Nasdaq Composite Index advanced 15.27 points, or 0.3%, to 5,462.69, with the iShares Nasdaq Biotechnology Index , which tracks the benchmark’s biotech stocks, rising more than 2%.

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Gold settles higher, but logs 7th weekly loss

Gold prices settled higher Friday but it wasn’t enough to save the precious metal from its seventh weekly loss, its longest weekly string of losses in more than 12 years. Gold for February delivery settled up $2.90, or 0.3%, at $1,133.60 an ounce, as the U.S. Dollar index retreated slightly but was still near its highest levels since December 2002. For the week, gold declined 0.3%. The last time gold had a run of seven weekly losses was back in mid-May 2004, according to Dow Jones data. Silver for March delivery settled down 11.2 cents, or 0.7%, at $15.76 an ounce. For the week, silver finished down 2.4% for the week for its second week of losses.

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FBI probing FDIC computer hack linked to Chinese military: report

The Federal Bureau of Investigation is probing how hackers infiltrated computers at the Federal Deposit Insurance Corporation for several years beginning in 2010, Reuters reported Friday. Senior FDIC officials believe the breach was sponsored by China’s military, people with knowledge of the matter told Reuters. Hackers gained access to dozens of computers in the breach, including the workstation of former FDIC Chairwoman Sheila Bair.

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Oil prices trade slightly lower as Baker Hughes rig-count data show weekly climb

The number of active U.S. rigs drilling for oil climbed by 13 to 523 rigs this week. The total active U.S. rig count, which includes oil and natural-gas rigs, also rose by 16 to 653, according to Baker Hughes weekly report. Prices for oil held onto their earlier losses after the rig data. February crude was of 12 cents, or 0.2%, at $52.84 a barrel on the New York Mercantile Exchange, while Brent crude for February was off 11 cents, or 0.2%, at $54.94 a barrel.

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Trio of RMBS Legal Actions Exceed $12 Billion

A trio of legal actions by the government are related to toxic residential mortgage-backed securities and include two settlements for more than $12 billion.

The actions were taken by the Department of Justice against three European financial institutions over their alleged roles in the issuance and sale of RMBS.

They are likely the last major RMBS actions to be taken as part of the Obama administration’s aggressive prosecution of banks blamed for the financial crisis.

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Now Is the Best Time for Property Managers to Celebrate Your Residents

By Marc Courtenay

There is no time like the present to make sure your residents are happy and feeling appreciated. We don’t need a holiday season or a special time of the year to create an event to convey our gratitude.

  • First and foremost, when you see a resident or your staff is communicating with them, go out of your way to look them in the eyes and sincerely have something positive to say about them. Find the positive.
  • Plan a resident celebration that is designed to build rapport and improve your properties’ retention rates. This event can be simply a drop-by-during-the-day party to distribute refreshments and smiles.
  • Host a personal wellness event on a weekend day when most residents are available. Hire a personal success speaker, a life coach or invite a speaker from your community college to share relevant ideas.
  • Many residents want more information about staying healthy and physically fit. Invite a yoga instructor or a master of meditation to demonstrate, or offer residents a complimentary class at a local fitness center looking for new members. They’ll be glad to work with you and your residents will benefit.
  • Sponsor a “can’t lose” annual drawing or giveaway. In exchange for their willingness to sign up to pay their rent online each month, you offer a prize, a perk or a chance to win a grand prize too. Win-win!
  • If you have a multi-residential property where children and families live, host an event that will be fun for all ages. A board games party with light refreshments is still a hit in the age of digital entertainment.
  • Have your staff or some reliable adults oversee the event. The object is to pick board games where both children and grown-ups can sit at the same tables and have a good time. Be creative with this idea.
  • The end of a year or the beginning of a new year is a great time to write a “From Your Property Management Company” letter of gratitude. It should be from the manager and from the heart.
    Address the progress, the achievements and respect for the “little ways” that residents have contributed to the well-being of your rental community. Hand sign each letter, and show generous gratitude.
  • Just about everyone enjoys a variety-filled meal with neighbors and potential friends. Host a potluck meal or a “bring your favorite dessert” occasion while you provide beverages and entertainment.

You now have some ideas, so it’s my turn to ask you for a favor. If you have hosted, invented or crafted a unique way to “celebrate your residents” please tell us about it in the comment section below. Let your residents know how much you care and they’ll find ways to show you their cooperation and loyalty. Meanwhile, give just for the sake of giving!

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Trump’s tweet hurts Lockheed’s stock but doesn’t help Boeing’s

Shares of Lockheed Martin Corp. dropped 2.1% in morning trade Friday, after President-elect Donald Trump once again criticized the cost overruns of Lockheed’s F-35 stealth fighter program in a tweet late Thursday. The stock was down as much as 1.8% in intraday trade before bouncing slightly. On Dec. 12, the stock had slumped 2.5% after Trump tweeted that the F-35 program cost was “out of control.” Analyst Robert Stallard at Vertical Research Partners said the F-35 program “has been on schedule and on budget” since 2011. Meanwhile, Boeing Co.’s stock fell 0.4% Trump’s tweet said he asked the company to price-out a comparable F-18 Super Hornet. “Unless the rules of physics have changed, you cannot make a non-stealthy two-engined carrier-based aircraft from the 1980s into a single-engine, multi-role stealth fighter from the 2000s,” Stallard wrote in a note to clients. On Dec. 7, Boeing’s stock had inched higher after a Trump tweeted that costs for Boeing’s Air Force One program were “out of control.” Lockheed shares have climbed 14% year to date and Boeing’s stock has gained 8.4%, while the S&P 500 has rallied 11%.

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