Foreclosures | Mortgages | Financing
Steve Schwarzman, the chairman and CEO of Blackstone Group, expects to see a “substantial” reduction in government regulations during the term of President-elect Donald Trump. And Schwarzman will be well positioned to help contribute to that regulatory rollback, as he was recently named the leader of Trump’s Strategic and Policy Forum, a group of 16 CEOs who are expected to advise the president-elect on economic issues. …read more
From:: Real Estate Wire
Tesla Motors Inc. is recalling three types of charging adapters after two of the devices overheated. The company said in an email sent to customers Tuesday that it was recalling the optional adapters, used to plug the company’s electric-car chargers into different types of outlets, after two overheated. The company said the NEMA 14-30 model of adapter overheated for two customers, so it was voluntarily recalling those as well as two other models– NEMA 10-30 and 6-50 adapters — because they share commen elements. Tesla said in the email that the overheating adapters did not cause any injuries nor property damage, and said the recall affects a small number of North American consumers. The adapters “are sold separately as accessories and … are used by relatively few of our customers,” the company said in its email. Tesla directed customers to its recall information website for more information. Tesla stock closed with a 0.5% drop to $185.95 Tuesday.
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
Shares of Western Digital Corp. rose nearly 5% late Tuesday after the Irvine, Calif., hardware maker tweaked upward its revenue and adjusted per-share earnings estimates for fiscal second quarter. Western Digital said it expects sales to reach about $4.75 billion, compared with its earlier forecast of approximately $4.7 billion. Per-share earnings are seen in a range between $2.10 to $2.15, from a previous expectation of $1.85 to $1.95. The company said it will report quarterly earnings in late January. In a separate statement, Western Digital said it renewed its agreement with Samsung Electronics Co. Ltd. relating to semiconductor patents. The renewed agreement runs through December 2024. Shares of Western Digital had ended the regular trading session up 2.8%.
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
Housing supply in the Northwest just hit an all-time low as pending home sales far out-pace new listings. While this could be following the normal winter trend, there is also another factor at play this year. …read more
From:: Real Estate Wire
Credit standards for loans included in residential mortgage-backed securities are expected to loosen next year as interest rates rise.
In 2017, new RMBS transactions will be backed by more diversified collateral, while they will also feature some structural changes.
More importantly, the performance of existing mortgage securitizations are expected to remain strong or even improve during next year.
From:: Financing
The American Petroleum Institute late Tuesday reported a fall of 2.2 million barrels in U.S. crude supplies for the week ended Dec. 2, according to sources. Analysts polled by S&P Global Platts expected stockpiles to decline by 1.7 million barrels. Supply data from the Energy Information Administration will be released Wednesday morning. January crude was at $50.82 a barrel in electronic trading, down from the contract’s settlement of $50.93 on the New York Mercantile Exchange.
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
SeaWorld Entertainment Inc. will eliminate 320 positions at its headquarters and across 12 theme parks as part of its restructuring effort to reduce costs by about $65 million, the company said Tuesday. The amusement park operator will book a restructuring charge of $9 million that is expected to lower its fourth-quarter earnings. However, the company did not provide specific estimates on how much its bottom line will be affected. Analysts surveyed by FactSet projected SeaWorld to post a loss of 13 cents a share on revenue of $268 million. Shares were flat in late trading after closing at $18.21.
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
Dave & Buster’s Entertainment Inc. jumped to record highs Tuesday afternoon after the chain of adult arcades and eateries easily beat earnings expectations. Dave & Buster’s reported net income of $10.8 million, or 25 cents a share, on sales of $228.7 million, more than doubling its profit and showing a 19% revenue gain from the same quarter a year ago. Analysts polled by FactSet expected Dave & Buster’s to report earnings of 14 cents a share on revenue of $216.7 million. The company also suggested it could hit $1 billion in annual sales for the first time by increasing its annual guidance for revenue to a range of $998 million-$1.003 billion, from $983 million-$995 million. going to add this sentence: The company also said it plans to open 11 new locations in th e current fiscal year, the top of a previous guidance range, and 11 to 12 new stores in the 2017 fiscal year. Dave & Buster’s stock, which has never traded for more than $50 a share, jumped 11.5% in after-hours trading to $53.50.
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 Navigators Group Inc. said late Tuesday its board of directors has authorized a two-for-one stock split in the form of a stock dividend. Shareholders of record Dec. 30 will receive one additional share for every share held, the insurance holding company said. Shares of Navigators were flat in late trading after ending the regular session up 2%.
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
Mastercard Inc. said late Tuesday its board of directors has approved a dividend increase and a $4 billion share buyback plan. The dividend will rise 16% to 22 cents a share, from 19 cents a share, payable Feb. 9 to shareholders of record Jan. 9. The new share repurchase program will be effective as the credit-card company completes its previously announced $4 billion share buyback program, of which about $1.3 billion remain. Shares of Mastercard rose 0.8% in late trading after ending the regular trading session down 1.5%.
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