Foreclosures | Mortgages | Financing
Fannie Mae announced industry veteran George Haywood to its Board of Directors as part of the strategic initiatives and technology committee. This is why the company says Haywood will bring valuable and actionable insights to Fannie Mae. …read more
From:: Real Estate Wire
Amicus Therapeutics Inc. shares fell in the extended session Monday after the rare-disease drug maker said the Food and Drug Administration will not grant an accelerated approval to one of its treatments. Amicus shares dropped 28% to $6.02 after hours. The company said the FDA cannot grant an accelerated approval of the drug migalastat to treat Fabry disease based on the lowering of a harmful fatty substance in the kidneys, and that it must collect more data on the drug. Fabry disease is a rare genetic condition where the body is deficient in a certain enzyme, which can result in pain, kidney failure, and heart problems.
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
Allstate Non-Insurance Holdings Inc., the insurance broker subsidiary of Allstate Corp. , said late Monday it has agreed to buy SquareTrade Holding Company Inc. for about $1.4 billion in cash and debt. The transaction is expected to close in January. Privately held SquareTrade, based in San Francisco and London, is a provider of extended warranty plans for electronics and gadgets. Shares of Allstate fell 0.2% in the extended session after ending the regular trading day down less than 0.1%.
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From:: Stock Market News
Shares of Thor Industries Inc. rallied in Monday’s extended session after the recreatonal vehicle maker posted quarterly results that soundly beat Wall Street’s expectations. Thor reported its fiscal first-quarter earnings rose to $78.7 million, or $1.49 a share, from $50.5 million, or 96 cents a share, a year earlier. Revenue increased 66% to $1.71 billion. Analysts surveyed by FactSet had projected earnings of $1.23 a share and revenue of $1.5 billion. Shares rallied nearly 7% after hours.
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
Nivalis Therapeutics Inc. shares fell in the extended session Monday after the drug developer said its cystic fibrosis drug failed to reach endpoints in a clinical trial. Nivalis shares, which had been briefly halted, fell 56% to $2.73 after hours. The company said a mid-stage clinical study of its drug cavosonstat did not significantly improve lung function in cystic fibrosis patients when compared to a placebo.
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From:: Stock Market News
When accounting for wage growth and inflation, consumers’ buying power was better in September than in any period during the last 25 years. How? Home prices keep increasing, however affordability is still improving, according to one economist. …read more
From:: Real Estate Wire
By Beth McGuire
Denver-based RE/MAX, LLC, has signed an agreement to purchase the Master Franchise for the Georgia, Kentucky/Tennessee, and Southern Ohio Regions owned and managed for many years by the independent RE/MAX Regional Services group, the company announced Monday. The agreement to purchase the regions was signed less than three weeks after RE/MAX agreed to purchase RE/MAX of New Jersey.
“When Howard McPherson purchased RE/MAX of Georgia in 1978, he took a risk based on the potential of a young real estate brand that had about 1,000 agents, at the time. He and his family grew the region into a four-state operation with over 250 offices and almost 4,000 agents,” said Dave Liniger, CEO, Chairman of the Board and Co-Founder of RE/MAX, LLC. “Howard has been extremely successful in growing the RE/MAX brand in Georgia, Kentucky, Tennessee and southern Ohio and we thank him and his family for their dedication. It’s a real RE/MAX success story, and a testament to the outstanding brokers, owners and sales associates who helped build the brand in these four states. We look forward to working with them, providing the services they need, and growing our market presence even more.”
The acquisition of the RE/MAX Regional Services Region is expected to close before the end of the year, bringing the total of U.S. company-owned regions to 18. In 2016, RE/MAX, LLC has purchased or agreed to purchase the Master Franchise rights for New York, Alaska and New Jersey.
“It’s been a real pleasure to work with so many great brokers and agents in Georgia, Kentucky, Tennessee and Southern Ohio,” said Dane Ellison, RE/MAX Regional Services CEO. “They’re in good hands moving forward, and we believe RE/MAX market presence will continue to grow. That’s what happens when great agents put the interests of their buyers and sellers above all else.”
Susan Goiser, Region Vice President of RE/MAX Florida, will oversee services in Georgia, while Jeff LaGrange, former Region Vice President of RE/MAX Pacific Northwest and RE/MAX Alaska, will lead the regional team supporting Kentucky/Tennessee and Southern Ohio.
RE/MAX has a worldwide network of over 110,000 agents in over 100 countries and territories, a global footprint larger than any of its competitors.
For more information, please visit www.remax.com.
The post RE/MAX, LLC Agrees to Purchase Group of Three Independent Regions appeared first on RISMedia.
From:: Finance and Economy
Shares of UnitedHealth Group Inc. rose in Monday’s extended session after the health-care company reiterated its upbeat earnings forecast for 2016. UnitedHealth expects earnings per share for the full year at $7.45 and adjusted EPS of about $8.00. Analysts surveyed by FactSet are projecting EPS of $7.39 and adjusted EPS of $7.51. The company also estimated its 2016 revenue to exceed $184 billion, compared with an average estimate of $184.13 billion. UnitedHealth is scheduled to host its annual investor conferenece on Tuesday in New York where it will discuss its business in further details. Shares of UnitedHealth rose more than 2% after hours.
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From:: Stock Market News
The Russell 2000 Index fell 1.3% Monday, to snap its win streak at 15 sessions. That matches the longest such stretch since the 15-day streak ending Feb. 6, 1996. The index of small-capitalization stocks had soared 16.5% during its latest stretch of gains, compared with a 6.1% gain for the 1996 streak. That streak had ended with a 0.2% decline on Feb. 7, 1996, but the index was back at a record close on Feb. 8. The index ran up another 2.5% to a record close one month after the streak was snapped, and another 8.2% three months after the streak ended. A year later, it was up 15%.
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From:: Stock Market News
Oil futures climbed Monday, scoring their first gain four sessions. Traders continued to weigh the possibility that the Organization of the Petroleum Exporting Countries will be able to finalize a deal to curb output at a meeting Wednesday. January West Texas Intermediate crude rose $1.02, or 2.2%, to settle at $47.08 a barrel on the New York Mercantile Exchange.
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From:: Stock Market News