Retail chain Home Group files to go public

Home Group Inc., a retail chain, filed to go public Monday. The company set a price range of $14 to $16 a share and said it plans to sell 8.7 million shares. Home Group reported sales of $622 million and income of $3.57 million in fiscal 2016. The company has been approved to list on the New York Stock Exchange under the symbol “HOME.” Bank of America Merrill Lynch and Goldman, Sachs & Co. are the lead underwriters.

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.

…read more

From:: Stock Market News

AbbVie and Bristol-Myers Squibb to collaborate on lung cancer clinical trial

AbbVie Inc. and Bristol-Myers Squibb Company said Monday morning they will collaborate on a clinical trial for a lung cancer treatment combining AbbVie’s Rova-T with Bristol-Myers Squibb’s Opdivo and an Opdivo + Yervoy regimen. The phase 1/2 trial will evaluate the combination’s effectiveness for relapsed extensive-stage small cell lung cancer. Lung cancer is the top cause of U.S. cancer deaths. AbbVie shares rose 4.7% over the last three months, and Bristol-Myers Squibb shares rose 7.2%, compared with a 4.2% rise in the S&P 500 .

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.

…read more

From:: Stock Market News

Verizon to acquire Yahoo in $4.83 billion deal

Verizon Communications Inc. said early Monday that it has reached a deal with Yahoo Inc. to acquire the internet company’s operating business. The agreement will see Verizon pay $4.83 billion in cash in a move to create a mega mobile media technology company, according to a news release. Under the deal, Yahoo will be integrated with AOL, which Verizon bought last year. Verizon shares were up less than a 1%, while Yahoo shares were halted for the news.

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.

…read more

From:: Stock Market News

Obama administration presents a look at life after HAMP

Time is ticking on the government’s Home Affordable Modification Program and Home Affordable Refinance Program, as both will end on Dec. 31, 2016. In a comprehensive report published Monday, the Treasury, HUD, and the FHFA say that while these programs are set to end this year, the government plans to continue working with the mortgage industry on various loss mitigation programs moving forward, but caution that the industry needs to be prepared to do more. …read more

From:: Real Estate Wire

Two dead, multiple people injured in Fort Myers nightclub shooting: reports

A shooting outside of a nightclub in Florida early Monday left two people dead and at least 14 injured, according to media reports. Gunshots were reportedly fired in the parking lot of Club Blu in Fort Myers, with injuries among the wounded ranging from minor to life-threatening. Police said they have detained a person in connection with the shooting. The club was hosting a teen party at the time of the shooting, CBS News reported. A motive hasn’t been established for the incident. Last month, a Florida nightclub was the site of the deadliest mass shooting in modern history, in which 49 patrons were killed by the gunman, who also died at the Pulse nightclub.

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.

…read more

From:: Stock Market News

G-III to buy Donna Karan International from LVMH for $650 million

LVMH Moet Hennessy Louis Vuitton SE announced Monday that it will sell Donna Karan International Inc. to G-III Apparel Group Ltd. in a $650 million deal. LVMH, the French multinational luxury goods conglomerate, owns Donna Karan International, which is the parent of Donna Karan and DKNY brands. The deal is expected to close in late 2016 or early 2017. G-III said it doesn’t have plans to update its financial guidance to reflect the acquisition until the deal has closed. G-III, a designer and manufacturer of apparel and outwear in the United States, plans to partly fund the deal by issuing $75 million in common stock to LVMH and a $75 million, six-and-a-half-year seller note.

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.

…read more

From:: Stock Market News

Monday Morning Cup of Coffee: Is housing talk finally coming to the 2016 election?

Well, we’re smack dab in the middle of election season now, and housing is thus far, decidedly not on the agenda. But is that all about to change? While Republican nominee Donald Trump didn’t touch on housing in his acceptance speech last week, the Republican Party platform does call for significant changes to the country’s housing finance system. As for the Democrats, the party made two big moves over the weekend that could bring housing into the conversation. …read more

From:: Real Estate Wire

‘53 Million and One’: Putting a Face on the Immigrant Experience in America

By Beth McGuire

When the first group of Wells Fargo employees was invited to a presentation co-sponsored by the National Association of Hispanic Real Estate Professionals (NAHREP) and Century 21, attendees expected nothing out of the ordinary—a talk on Latino demographics, perhaps, or tips on helping Hispanic families qualify for a mortgage.

What they didn’t expect was a poignant, inspiring experience.

“The Hispanic market opportunity is a huge priority for Wells Fargo, and Jerry’s live performance of ‘53 Million and One’ illustrates the Hispanic experience in America better than anything we’ve ever seen,” says Brad Blackwell, executive vice president, Wells Fargo Mortgage. “The feedback from our employees has been overwhelmingly positive. It’s an experience we are happy to replicate.”

Scripted by NAHREP co-founder Gary Acosta, and performed by veteran California REALTOR®, past NAHREP president and one-time Mariachi singer Jerry Ascencio, ‘53 Million and One’ tells the powerful story of one immigrant family—Ascencio’s—who came to America poor and undocumented in the late 1960s, and struggled to find social and financial well-being and a piece of the American Dream.

Much like Billy Crystal’s “700 Sundays” or Mike Tyson’s “Undisputed Truth,” the one-man performance blends pathos, humor and flashes of brilliance to tell a familiar story.

“It’s a rags-to-riches story that speaks to every American who has roots outside of this country,” says Ascencio, who was a year old when his parents brought him across the border from Mexico into Southern California. “It’s an immigrant story, an entrepreneurial story, a story that belongs to every family who came to this country from China, from Mexico, from Europe, from Vietnam, from any place else in the world—and let’s be real, how many Americans don’t have foreign roots?”

The production describes how, from a small, rented house in California’s San Fernando Valley, Ascencio’s father, Javier, plied his trade as a gas station attendant while studying to prepare for more lucrative work as an automotive repairman. His mother, Maria, did part-time factory work to help provide for the family. In rare off-hours, Javier, a musician and singer who played a variety of instruments, began to supplement income by playing local gigs as a Mariachi singer/musician. He instilled his love of music in Jerry, who often tagged along.

Despite their willingness to work hard, the family could not afford to buy a home.

When he was 15, and an unfocused student, Jerry was sent to extended family in Mexico in the hope that he might apply himself and study for a good-paying job. But American opportunity was top of mind for Jerry, who returned to California two years later at the age of 17, happy to work three jobs at once to contribute to the family pot.

“I worked days in a fiberglass factory,” recalls Ascencio. “I also worked the graveyard shift at a local gas station—and in between, whenever we got a gig, I worked with my father singing in a Mariachi band.”

Then his mother watched a talk show on Telemundo where one of the guests was a successful real estate entrepreneur. “You can do this,” she told …read more

From:: Real Estate News

Prediction: Top 10 ‘Wow’ Moments at RISMedia’s CEO Exchange

By Beth McGuire

We’ve having a busy summer here at RISMedia as we (among other things) finalize plans for this September’s Real Estate CEO Exchange. This event is a fan favorite as it brings together a select group of the country’s Power Brokers and industry leaders for frank discussion about the critical issues affecting our industry and their impact on broker profitability. Within this cadre of invitation-only guests, there is freedom and willingness to share information and ideas. No competitors here…just compadres.

Having the insider’s view of the event as it takes shape, I thought I’d share what are sure to be the highlights of this year’s event, taking place on Sept. 13 and 14 at the Harvard Club in New York City. Unlike Letterman, this Top 10 is in no particular order:

Reviewing the speaker line-up. This is one of the most eclectic groups we’ve ever had. You’ll enjoy the wisdom of successful real estate veterans and the fresh perspective of dynamic upstarts.

Walking into Harvard Hall. If you’ve been fortunate enough to visit the Harvard Club in NYC, then you know what I’m talking about. Our main sessions will take place in Harvard Hall, an inspiring setting to put our minds to work.

What the keynote speakers will share. We’ve chosen keynote speakers who don’t hold back: Realogy’s Alex Perriello and HSF Affiliates’ Gino Blefari. Alex will kick things off day one on Sept. 13 with a State of the Union Address, and Gino will open day two with his insights into Success Strategies for Today and Tomorrow. Two different styles, for sure, but both of these leaders are known for cutting to the chase and sharing hands-on information.

Hearing from real estate’s renegades. On day one of the CEO Exchange, Sept. 13 at 3:45 p.m., we will gather the leaders of some of real estate’s newest players: Compass’ Robert Reffkin, Climb Real Estate’s Chris Lim, and Launch Real Estate’s John Vatistas. The buzz over their respective companies is widespread and we’ll hear why during ‘The Evolution of the Real Estate Model: What’s Working and Why.’

Ken Trepeta’s predictions for post-election life. On day two of the event, Sept. 14 at 1:45 p.m., Ken Trepeta will present the keynote presentation ‘How the Presidential Election Will Impact Your Business.’ If you’ve heard Ken speak before, then you know his impartial, straight-shooting style will do this topic great justice and hopefully, give us some much-needed perspective on this volatile election season.

The Welcome Reception. At 5 p.m. on Sept. 13, we’ll gather for an RISMedia time-honored event: the Welcome Reception. Year after year, attendees tell us about the strategic relationships that began over cocktails at an RISMedia reception. Or the pearls of wisdom that were shared by a peer on the opposite sides of the country. Great company, great hors d’oeuvres and a surprise from Quicken Loans…it’s one of the best hours you’ll spend all year.

Getting to know the new Upstream CEO. Alex Lange, the recently appointed CEO of Upstream will be joined by …read more

From:: Real Estate News