Foreclosures | Mortgages | Financing
Investors in some of the more expensive housing states are looking to other states to purchase single-family investment properties. According to a report from ATTOM Data Solutions, these out-of-state investors come from blue states and are investing in red states. …read more
From:: Real Estate Wire
American International Group keeps reworking how it wants to be involved in the housing industry. The company recently revealed its looking to make a push into residential property loans after selling its mortgage-guaranty unit United Guaranty to Arch Capital Group this summer. …read more
From:: Real Estate Wire
The used smartphone market is expected to nearly triple over the next few years as swap-in programs attract more consumers to more affordable refurbished hardware. The market for used smartphones is expected to climb to 222.6 million units by 2020 from 81.3 million in 2015, representing a compound annual growth rate of 22.3%, according to trends tracker IDC. Increasing demand for recycled and hand-me-down phones will impact original equipment manufacturers and mobile operators such as Apple Inc. and Samsung Electronics , according to Will Stofega, program director for IDC’s mobile phones research division. The forecast comes on the heels of Apple’s first-ever annual decline in iPhone sales. Shares of Apple rose 1.4% to $111.58 in afternoon trade, but remain down 6.5% in the past 12 months. The Dow Jones Industrial Average has also risen 2% in the past three months but has outperformed Apple on the year, rising 6.2%.
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
The used smartphone market is expected to nearly triple over the next few years as swap-in programs attract more consumers to more affordable refurbished hardware. The market for used smartphones is expected to climb to 222.6 million units by 2020 from 81.3 million in 2015, representing a compound annual growth rate of 22.3%, according to trends tracker IDC. Increasing demand for recycled and hand-me-down phones will impact original equipment manufacturers and mobile operators such as Apple Inc. and Samsung Electronics , according to Will Stofega, program director for IDC’s mobile phones research division. The forecast comes on the heels of Apple’s first-ever annual decline in iPhone sales. Shares of Apple rose 1.4% to $111.58 in afternoon trade, but remain down 6.5% in the past 12 months. The Dow Jones Industrial Average has also risen 2% in the past three months but has outperformed Apple on the year, rising 6.2%.
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
The co-sponsor of the Dodd-Frank Wall Street Reform and Consumer Protection Act is warning that a repeal of the law could lead to another crisis.
Dodd-Frank, which was passed in 2010, was co-sponsored by former Sen. Chris Dodd (D-Connecticut) and Rep. Barney Frank (D-Massachusetts).
President-elect Donald J. Trump has vowed to repeal and replace the law to the delight of the banking industry, which considers the law too burdensome.
From:: Financing
The Consumer Financial Protection Bureau is challenging an appeals court ruling in a lawsuit filed by PHH Mortgage Corp. that would enable the president to fire the agency’s director.
Last month, the U.S. Court of Appeals for the District of Columbia issued an opinion favorable to PHH and the mortgage industry that reined in the power of the powerful financial regulator.
Among other things, the court ruled that the bureau’s structure gives the CFPB’s director too much power and that the president should be able to fire the bureau’s director for any reason.
From:: Financing
3M Co.’s stock dropped 1.2% in morning trade Monday, enough to make it the biggest decliners among Dow Jones Industrial Average components, after Goldman Sachs turned bearish on the industrial conglomerate, citing concerns over weakness in its energy and electronics businesses, and the impact of its large exposure to consumer markets. Analyst Joe Ritchie downgraded 3M to a rare sell rating from neutral, and slashed his stock price target to $159–7% below current levels–from $167. Only 14% of companies covered by Goldman are rated sell. Many industrial stocks have rallied since Donald Trump’s election win, on hopes of increased infrastructure spending and tax breaks. Ritchie said 3M should underperform its industrial peers under those scenarios, given that more than half of its revenue comes from consumer markets, and the fact that 3M has already been repatriating a lot of its cash. 3M’s consumer product brands include Scotch, Post-it and ACE. The stock has now lost a little less than 0.1% since the election, while the Dow has gained 3.1%. Year to date, 3M shares have hiked up 13% and the Dow has advanced 6.7%.
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
A survey from STRATMOR shows that lenders are missing out on one area that could bring in more revenues and increase customer satisfaction. In fact, only about 8% of lenders are currently utilizing the full potential of continuing conversations with their customers. …read more
From:: Real Estate Wire
Stocks traded at records Monday as Wall Street attempts to extend a multisession trend of gains as President-elect Donald Trump sets up his cabinet. The Dow Jones Industrial Average rose 0.5% at 18,920, the S&P 500 index picked up 0.5% at 2,191, briefly trading above its closing record, the Nasdaq Composite Index advanced 0.4% at 5,351, hitting a fresh all-time high. Trump’s policy proposals, including those around infrastructure investments, are being viewed as supportive to stock advances. On Monday, the gains for major equity benchmarks came as crude-oil prices climbed sharply amid mounting hope that the Organization of the Petroleum Exporting Countries and oil-producers like Russia can strike an agreement to shrink the overflow of crude being pumped out of the world’s largest producers.
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
Constellation Brands Inc. announced Monday a new $1 billion stock repurchase program, which will be in addition to its existing $1 billion program. The company did not say when the new program expires. The new buyback program comes after Fitch Ratings upgraded the beer, wine and spirit’s company’s credit rating to BBB-, or to investment grade status, last week. “We are pleased with our new Investment Grade status, which has been driven by our ability to continue to generate strong earnings and operating cash flow,” Constellation Chief Financial Officer David Klein said. “This provides us with the flexibility to be opportunistic with future share repurchases while remaining committed to our 3.5x targeted leverage ratio.” The stock, which was little changed in premarket trade, has climbed 8.9% year to date through Friday, while the S&P 500 has gained 6.8%.
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