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Fresh Del Monte Produce Inc. said Wednesday its board has approved an increase in its quarterly dividend to 15 cents a share from 12.50 cents. The new payment will be made Sept. 9 to shareholders of record as of Aug. 17. Shares closed up 3.8% and are up 54% in the year so far, while the S&P 500 has gained about 6%.
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
Herbalife Ltd shares rose 1.4% in Wednesday after-hours trading after the company reported second-quarter earnings that beat expectations and raised its full-year guidance. Herbalife reported a net loss of $22.9 million, or 28 cents per share, compared with net income of $82.8 million, or 97 cents per share, for the same period last year. Adjusted earnings, which excludes the impact of $203 million in regulatory settlements, were $1.29 a share, beating the FactSet consensus of $1.21. Revenue totaled $1.20 billion for the quarter, up from $1.16 billion for the same period last year and beating the $1.19 billion FactSet consensus. Herbalife sees full-year adjusted EPS in the range of $4.50 to $4.80, up from previous guidance of $4.40 to $4.75, but below the FactSet consensus of $4.82. Herbalife shares are up 34.7% for the past year while the S&P 500 Index rose 3.1% for the same period.
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 Twitter Inc. soared 7.3% in active trade Wednesday, after media reports drummed up buyout speculation, again. Volume was 55.3 million shares, or more than double the full-day average of 23.6 million shares, according to FactSet. The buyout rumor this time, was that large stakeholders, such former Microsoft Corp. CEO Steve Ballmer or Saudi Arabia’s Prince Alwaleed bin Talal were interested in buying the social network. “We see a takeover of [Twitter] led by these two investors as unlikely,” said S&P Global equity analyst Scott Kessler in a research note emailed to MarketWatch. “We see value in the company’s global platform, offerings and balance sheet, but think a notable activist investor or strategic acquirer would likely have to drive an acquisition of [Twitter], whose market cap is over $11 billion.” In June, some analysts said Microsoft’s bid to buy LinkedIn Corp. might inspire Alphabet Inc. to buy Twitter. Twitter’s stock has run up 26% over the past three months, but has tumbled 24% year to date. The S&P 500 has gained 5.9% so far this year.
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
Oil futures ended sharply higher Wednesday, with the U.S. benchmark finishing back above $40 a barrel after government data showed a larger-than-expected drop in gasoline inventories last week. West Texas Intermediate crude for September delivery rose $1.32, or 3.3%, to close at $40.83 a barrel.
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
Right after the news came out that the United Kingdom voted to leave the European Union, interest rates plummeted and mortgage applications surged, but appraisal volume, not so much. Kevin Golden, director of analytics with a la mode, explains why there’s such a discrepancy. …read more
From:: Real Estate Wire
Gold futures retreated from a two-year high Wednesday following strong economic data, along with rising stocks and a U.S. dollar. Gold for December delivery fell $7.90, or 0.6%, to settle at $1,364.70 an ounce. Similarly, silver for September delivery declined 23 cents, or 1.1%, to settle at $20.47 an ounce. The U.S. Dollar Index advanced 0.5% to 95.57, while the S&P 500 Index rose 2 points to 2,159.
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 year-over-year improvement in earnings, new insurance written and delinquency was reported for Genworth Mortgage Insurance Corp.
During the three months ended June 30, parent Genworth Financial Inc. earned $351 million from continuing operations before income taxes.
Those details, along with other operational and financial data, were presented in the Richmond, Virginia-based firm’s second-quarter earnings report.
From:: Financing
Home-lending activity increased at Nationstar Mortgage LLC, though fair-value adjustments to mortgage servicing rights cut deep into earnings.
Prior to income tax expense, the mortgage lender suffered a $144 million loss from the period that started on April 1 and concluded on June 30.
The Dallas-based financial services firm delivered the data, along with other operational and financial metrics, in its second-quarter earnings report.
From:: Financing
Luxury homebuyers in Miami are looking for certain key amenities for their (very large) homes. A former luxury resort architect outlines the over-the-top must haves for the area. …read more
From:: Real Estate Wire
For each of the past three weeks, loan applications to purchase or refinance a home have dropped. Government-insured share has diminished.
During the seven-day period that ended on July 29, applications for new residential loans were down by 4 percent compared to a week earlier.
That was based on the Market Composite Index — a measure of mortgage loan application volume that covers 75 percent of all retail applications.
From:: Financing