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Buffalo Wild Wings shares tick higher as earnings meet Street view

Buffalo Wild Wings Inc. shares rose in the extended session Wednesday even after the chicken-wing franchise’s revenue came in below Wall Street estimates for the quarter. Buffalo Wild Wings shares rose 3.2% to $139.40 after hours. The company reported third-quarter earnings of $1.23 a share on revenue of $494.2 million. Analysts surveyed by FactSet had forecast earnings of $1.23 a share on revenue of $501.1 million. For the year, the company forecast earnings of “slightly below the low end of the prior $5.65 to $5.85 range,” while analysts expect $5.70 a share.

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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Tesla shares jump 6% on surprise profit, revenue beat

Tesla Motors Inc. shares rose 6% late Wednesday after the electric-car maker reported a surprise quarterly profit and posted revenue above Wall Street expectations. Tesla said it earned $22 million, or 14 cents a share, in the third quarter, versus a loss of $1.78 a share in the third quarter of 2015. Adjusted for one-time items, Tesla earned $111 million, or 71 cents a share, in the quarter, versus a loss of $1.35 a share a year ago. The company’s revenue rose to $2.3 billion, compared with $937 million a year ago. Analysts polled by FactSet had expected the Silicon Valley car maker to report a loss of 22 cents in the quarter on sales of $2.2 billion. Tesla also kept its forecast to deliver 50,000 vehicles in the second half of the year, saying it will deliver just over 25,000 vehicles in the fourth quarter. Shares had ended the regular session down 0.1%.

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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Dow closes higher as Apple slide drags S&P 500, Nasdaq lower

The Dow industrials closed higher Wednesday even as a slide in Apple Inc. shares led the S&P 500 and Nasdaq to finish lower. The Dow Jones Industrial Average rose 30.06 points, or 0.2%, to close at 18,199.33, boosted by a big 4.7% gain in Boeing Co. shares but capped by a 2.2% slide in Apple shares. The S&P 500 Index closed down 3.73 points, or 0.2%, at 2,139.43, as the real estate, health care and telecom sectors weighed on the index. The Nasdaq Composite index fell 33.13 points, or 0.6%, to close at 5,250.27. Apple shares sank as quarterly revenue missed Wall Street estimates late Tuesday and projections were not as bullish as expected.

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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Snapchat could raise up to $4 billion in IPO: Report

Snap, the parent of Snapchat, is reportedly looking to raise up to $4 billion in its initial public offering, Bloomberg Technology reported. The offering could be valued between $25 billion to $35 billion, Bloomberg said, which would put it above its last private valuation of $17.8 billion. Bloomberg reported that the company has chosen to filed IPO documents confidentially.

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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Huntington’s Mortgage Earnings, Originations Climb

Mortgage earnings and originations at Huntington Bancshares Inc. improved as mortgage assets and servicing were boosted by an acquisition.

Before income taxes, Huntington earned $152 million during the three months ended Sept. 30. Income fell from $229 million during the prior period.

Those details and more were delivered Wednesday by the Columbus, Ohio-based bank-holding company in its third-quarter 2016 earnings report.

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From:: Financing

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Oil futures end at lowest level in 3 weeks

Oil futures fell Wednesday to settle at their lowest level in roughly three weeks. “Oil prices shrugged off the minor, yet unexpected, draw to [U.S. crude] stocks,” as the market continued to “come to terms with the growing unlikelihood” of an agreement by the Organization of the Petroleum Exporting Countries to cut production a month from now, said Troy Vincent, an oil analyst at ClipperData. December WTI crude fell 78 cents, or 1.6%, to settle at $49.18 a barrel on the New York Mercantile Exchange. That marked the lowest settlement since Oct. 4, according to FactSet data.

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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FHA lowers owner-occupancy requirements for condos

When President Obama signed the “Housing Opportunity Through Modernization Act of 2016 into law a few months ago, many celebrated the law because it brought changes to the Federal Housing Administration’s rules for condominium financing, among other changes. Wednesday, the FHA delivered, lowering its owner-occupancy requirements on certain condo developments. …read more

From:: Real Estate Wire

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SIGTARP moves to hold top brass accountable for bad bank behavior

Former Wells Fargo CEO John Stumpf and other Wells Fargo executives could still face criminal charges over how much the bank’s management knew about the more than 2 million fake accounts that 5,000 of the bank’s former employees opened in order to get sales bonuses. Even if Stumpf and the others don’t end up facing criminal charges, the Wells Fargo situation could still prove to be a tipping point as one financial regulator is proposing big changes that would hold executives personally responsible for the actions of their companies. …read more

From:: Real Estate Wire

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Drop in Mortgage Applications Led by Purchases

The number of prospective home loan borrowers who submitted a new application fell last week, with applications from home buyers taking the biggest hit.

During the week ended Oct. 21, the volume of new U.S. retail residential mortgage applications declined a seasonally adjusted 4 percent from the prior week.

That was according to the Market Composite Index, which actually moved up 7 percent from a week earlier when no adjustments are made for seasonal factors.

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From:: Financing