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Fox strikes preliminary deal to buy rest of Sky for £10.75 a share

Shares of Sky PLC soared 31% in afternoon trade in London after 21st Century Fox Inc. reached a preliminary deal to buy the rest of Sky that it doesn’t already own. Fox is Sky’s largest shareholder with a 39% stake, according to FactSet data. Fox has offered to pay £10.75 a share in cash, which represents a 36% premium to the closing price on Dec. 8, the last business day before the statement. Sky said offer terms remain under discussion “and there can be no certainty that an offer will be made by 21st Century Fox, nor as to the terms of any such offer.” News Corp, which owns Dow Jones & Co., publisher of MarketWatch and the Wall Street Journal, and 21st Century Fox were part of the same company until 2013.

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

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Mortgage Firm Adding Jobs on East, West Coasts

A three-year-old residential lender based on the East Coast is adding staff on the West Coast and has plans to expand its east coast staff.

MC Financial Inc. was established in October 2013. The co-founders of the mortgage banking business are Ray P. Cruz and Amir Guerami.

From its headquarters in Bethesda, Maryland, the firm originates loans in California, Florida, Maryland, Virginia and the District of Columbia.

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Zillow Lists Santa’s House, Just in Time for Christmas

By Susanne Dwyer

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Ever wondered where Santa parks his sleigh year-round? Now you can rest your worried mind—Zillow has created Santa’s idyllic North Pole home, and calculated how much it’s worth.

Santa Claus’ three-bedroom, two-bathroom log cabin stretches to a healthy 2,500 square feet—about 1,000 square feet larger than the average U.S. home, according to Zillow. Santa’s house was renovated in 2013, and its North Pole location includes an expansive 25-acre lot for ample reindeer play. Interior amenities include a river rock fireplace for those frosty winters, a gourmet kitchen for baking Christmas cookies and a wood-burning stove in one of the guest suites. (Yes, Santa has a guest suite).

Of course, Santa’s house also includes a garage for his sleigh, stables for Rudolph & Co., and a toy-making workshop with 50 work stations for cranking out Christmas goodies.

Zillow “zestimates” the listing at $656,957, although the quaint cabin is off the market.

Why did Zillow create this hypothetical listing? We’re glad you asked. “Santa’s home in the North Pole is one of the most famous homes in the world,” said Zillow Chief Marketing Officer Jeremy Wacksman. “Millions of kids are looking forward to a visit from Santa this year, and now they have the opportunity to virtually visit Santa’s house themselves.”

You can virtually visit Santa’s home at Zillow.com, where you can peruse a photo gallery straight out of stock photo heaven, or enjoy a video walkthrough.

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Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.

This was originally published on RISMedia’s blog, Housecall. Visit the blog daily for housing and real estate tips and trends. Like Housecall on Facebook and follow @HousecallBlog on Twitter.

The post Zillow Lists Santa’s House, Just in Time for Christmas appeared first on RISMedia.

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U.S. stocks open in record territory, set to rise for 5th straight day

U.S. stocks opened in record territory on Friday, putting them on track to rise for a fifth straight day as investors brace for the Federal Reserve to raise interest rates for the first time in a year at at next week’s meeting. Market-based indicators are pricing in a nearly 100% chance of a hike. The S&P 500 index gained 4 points, or 0.2%, to 2,249, while the Dow Jones Industrial Average climbed 15 points, or 0.1%, to 19,629. The Nasdaq Composite Index advanced 23 points, or 0.4%, to 5,441. Five of the most widely watched U.S. stock benchmarks closed at record highs on Thursday for the first time in 18 years. Crude oil prices rose, with U.S. futures trading above $51 a barrel, helping to bolster energy and materials shares. Shares of Coca-Cola Co. rose more than 1% after the company announced that Chief Executive Officer Muhtar Kent will leave the company, effective May 1.

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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Stillwater’s stock soars in active trade after buyout deal with Sibanye Gold

Shares of Stillwater Mining Co. soared 19% in active premarket trade Friday, after the platinum miner agreed to be acquired by Sibanye Gold Ltd. in a deal valued at about $2.2 billion. Under terms of the deal, Sibanye will pay $18 in cash for each Stillwater share outstanding, which represents a 23% premium to Thursday’s closing price. The deal is expected to close in the second quarter of 2017. Trading volume in Stillwater’s stock spiked to 4.1 million shares ahead of the open, already more than double the full-day average, and enough to make it the most actively traded in the premarket. Sibanye shares plunged 16% in premarket trade. Year to date, Stillwater shares have soared 71%, while Sibanye’s stock has climbed 37%, the VanEck Vectors Gold Miners ETF has surged 56% and the S&P 500 has gained 9.9%.

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

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Royal Caribbean to set sail for Cuba in April 2017

Royal Caribbean Cruises Ltd. said Friday that its cruise ship Empress of the Seas will make its first visit to Cuba during a five-night trip leaving Miami on Apr. 19, 2017. Thereafter, the ship will head to Havana during a seven-night trip on April 30, and during a five-night trip on May 20. Tampa will be the ship’s home port for the summer season for four- and five-night trips that include port calls in Cuba. Royal Caribbean shares are up 0.3% in premarket trading, but down 15.3% for the year so far. The S&P 500 index is up nearly 10% for 2016 to date.

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

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Synergy Pharmaceuticals surges 16% in pre-market trade on positive late-stage clinical trial results

Synergy Pharmaceuticals Inc. surged 15.9% in pre-market trade Friday after the company said that its treatment for irritable bowel syndrome with constipation had positive phase 3 trial results. The drug, plecanatide, met the trial’s primary endpoint at two different dose levels, with diarrhea being the most common adverse event in a small percentage of patients. Results from another phase 3 trial are expected later this month, and Synergy plans to file with the FDA for IBS-C in the first quarter of 2017, the company said. The drug “may represent an important new treatment option for the millions of patients currently suffering with IBS-C,” said Synergy Chief Executive Officer Gary Jacob. Shares of Synergy were valued at $5.54 per share at Thursday’s close. The company’s stock had dropped 2.3% year-to-date, compared with a 9.9% rise in the S&P 500 .

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

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Axis Capital unveils $1 billion share buyback program, raises quarterly dividend by 8%

Axis Capital Holdings Ltd. said Friday it’s board has approved a share buyback program of up to $1 billion. The new authorization will replace the existing one, which has $264.9 million available. The company is also raising its quarterly dividend by 8% to 38 cents a share. The new dividend will be payable Jan. 17 to shareholders of record as of Dec. 30. Shares were not yet active in premarket trade, but are up 12% in the year to date, 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

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Coty raises dividend, moves to quarterly payout schedule

Coty Inc. said Friday that it was increasing its dividend payout by 82%, as the fragrance, hair and cosmetics products seller moves to a quarterly payout schedule. The first quarterly dividend of 12.5 cents a share will be payable Dec. 28 to shareholders of record on Dec. 19. Based on Thursday’s closing price of $19.07 for Coty’s stock, the expected annual dividend of 50 cents a share implies a dividend yield of 2.62%, compared with the aggregate S&P 500 dividend yield of 2.07%, according to FactSet. “The increase in our dividend, and the transition of the timing to a quarterly payout schedule, enhances the company’s ability to return cash to shareholders throughout the year,” said Chief Financial Officer Patrice de Talhouet. The stock, which slipped 0.4% in premarket trade, has plunged 26% year to date through Thursday, while the S&P 500 has gained 9.9%.

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