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Oil futures rise as sources say API data show surprise U.S. crude supply decline

Oil futures climbed in electronic trading Tuesday from their settlement after the American Petroleum Institute reported a 3.8 million-barrel decline in U.S. crude supplies for the week ended Oct. 14, according to sources. Analysts polled by S&P Global Platts forecast an increase of 2.5 million barrels in stockpiles. Supply data from the Energy Information Administration will be released Wednesday. November crude was at $50.71 a barrel in electronic trading, up from the contract’s settlement of $50.29 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.

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From:: Stock Market News

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FDA approves Genentech’s lung cancer drug

Roche Group’s Genentech said late Tuesday the Food and Drug Administration has approved its Tecentriq immunotherapy medicine for the treatment of certain types of lung cancer. Tecentriq may treat lung cancer by working with the immune system and targeting a protein. More studies are evaluating Tecentriq alone and in combination with other medicines, the South San Francisco, Calif., company said in a statement.

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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Puma Biotech shares slide on secondary stock offering

Puma Biotechnology Inc. shares fell in the extended session Tuesday after the biotech said it was launching a secondary public offering of its shares. Puma shares fell 4.8% to $50.15 after hours. The company said it planned to sell $150 million in shares, with an additional $22.5 million to underwriters to cover overallotments. Citigroup and J.P. Morgan are the lead book-running managers. At Tuesday’s closing price, the offering including overallotments works out to about 3.3 million shares. Puma has about 32.5 million shares outstanding, 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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Yahoo rallies as quarterly earnings beat Wall Street’s expectations

Shares of Yahoo Inc. gained in Tuesday’s extended session after the internet company posted better-than-expected results ahead of its merger with Verizon Communications Inc. . Yahoo reported its third-quarter earnings more than doubled to $163 million, or 17 cents a share, from $76 million, or 8 cents a share, a year earlier. On an adjusted basis, it would have earned 20 cents a share, beating Wall Street’s estimate of 14 cents a share. Revenue increased to $1.31 billion from $1.23 billion, in part due to changes in how it reports revenue. Excluding the impact of the change, revenue would have fallen 15% to $1.05 billion versus analysts’ forecast of $861 million. Revenue minus fees paid to partners for traffic, rose to $448 million versus $223 million but would have shrank 15% to $190 million under the previous accounting method. Yahoo shares rallied 1.3% 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.

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Unchecked Power at CFPB Reined In

The recent appellate court decision in PHH Corp.’s lawsuit against the Consumer Financial Protection Bureau will keep the young regulator in check.

Framers of the Constitution empowered government officials to restrain one another — servicing as checks and balances among the branches of government.

But control of the CFPB was given to a single, nearly unaccountable director. This is unlike the multi-member panels that oversee other independent agencies.

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EXCLUSIVE: Caliber Home Loans sued by Chronos Solutions over nearly $3 million in unpaid bills

The New York Department of Financial Services is already reportedly looking into how Caliber Home Loans and its parent company, Lone Star Funds, after receiving complaints from consumers about how the companies handle foreclosures. But now, the companies have another fight on their hands over their foreclosure practices, and it comes from an unlikely source – one of their own vendors. Click the headline to read more. …read more

From:: Real Estate Wire

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Oil futures mark first gain in three sessions

Oil futures finished higher on Tuesday, reclaiming the $50-a-barrel level as the Organization of the Petroleum Exporting Countries’ Secretary General Mohammad Barkindo said that OPEC is determined to implement its plan to limit crude production. November West Texas Intermediate crude rose 35 cents, or 0.7%, to settle at $50.29 a barrel 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.

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Wal-Mart streaming service to offer free movies and TV shows

Wal-Mart Stores Inc. said Tuesday that its Vudu streaming service will begin offering free movies and on-demand TV shows with limited commercials, starting today. Included programming will be shown in high definition and can be watched across smart televisions, via app, and other options. Wal-Mart shares are up 1.1% in Tuesday trading, and 12.5% for the year to date. The S&P 500 Index is up 4.9% for 2016 so far.

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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Gold futures end the session at a nearly two-week high

Gold futures finished higher Tuesday, marking their loftiest settlement in almost two weeks as strength in the British pound helped the U.S. dollar ease back from recent multimonth highs. Strength in the greenback often pressures dollar-denominated prices for the precious metal. December delivery settled at $1,262.90 an ounce, up $6.30, or 0.5%. That was the highest finish since Oct. 5, 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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From:: Stock Market News

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Home Builder Confidence Slips After Strong Month

After reaching the highest level in nearly a year last month, the degree of home builder confidence has retreated thanks mostly to current sales conditions.

The seasonally adjusted Housing Market Index, which provides insight into how builders view market conditions for new houses, was 63 in October.

That turned out to be a two-point decline from the previous month, when the index ascended to the highest level it has been since October 2015.

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From:: Financing