Oil futures end lower after two-session climb

Oil futures settled lower on Monday, with the flow of oil through a key port reportedly undisturbed by the failed coup attempt in Turkey. Traders have also been concerned about a slowdown in crude production declines and the increasing number of active oil-drilling rigs in the U.S. August WTI crude fell by 71 cents, or 1.6%, to settle at $45.24 a barrel on the New York Mercantile Exchange.

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From:: Stock Market News

Sprint shares slump as Softbank/ARM deal seen diverting attention from mobile carrier

Sprint Corp. shares tumbled almost 7% Monday, as investors responded to the news that Japan’s Softbank Group Corp. has agreed to acquire ARM Holdings in a $32 billion deal. Softbank acquired Sprint in 2013 and has struggled since then to turn the company around by cutting costs, offering discounts and working to upgrade its network. Today’s deal is expected to divert attention from the fourth=biggest mobile carrier in the U.S., which has not made a profit in years. Softbank founder Masayoshi Son, speaking about Softbank’s fiscal fourth-quarter earnings in May, declined to say when Sprint would likely return to profitability. Sprint shares have nonetheless gained about 29% in the year so far, outperforming the S&P 500 roughly 6% gain.

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From:: Stock Market News

EIA: U.S. shale oil output forecast to fall by 99,000 barrels a day in August

Oil production from seven major U.S. shale plays is forecast to decline by 99,000 barrels a day to 4.55 million barrels a day in August from July, according to a monthly report from the Energy Information Administration released Monday. Oil output at the Eagle Ford shale play in South Texas is expected to see the largest decline, down 48,000 barrels in August. The Bakken shale play, which stretches from Canada into North Dakota and Montana, is expected to see output fall by 32,000 barrels a day, the report said. August oil traded at $45.14 a barrel, down 81 cents, or 1.8%, shortly before the settlement on the New York Mercantile Exchange.

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From:: Stock Market News

Bomb threat forces evacuation of Nationstar corporate headquarters

The corporate headquarters for Nationstar Mortgage, home to approximately 900 of the company’s employees, sat vacant for several hours Monday morning as a bomb threat to a nearby unaffiliated building forced an evacuation. After a few hours, Dallas Police gave the “all clear” and Nationstar’s employees returned to work. Here are more details on the developing situation. …read more

From:: Real Estate Wire

Charlie Young Appointed President & CEO of Coldwell Banker Real Estate, Budge Huskey to Retire

By Beth McGuire

Charlie Young

Coldwell Banker Real Estate LLC has announced the appointment of Charlie Young as the brand’s president and CEO, which will take effect September 1, 2016. This marks his return to Coldwell Banker after serving as president and CEO of ERA Franchise Systems LLC since 2009. Prior to that, Young spent five years in senior executive leadership roles with Coldwell Banker Real Estate, most recently as its chief operating officer.

Charlie Young

“Charlie Young has demonstrated exceptional leadership skills, solid strategic thinking and a passion for innovation during his 12 years with Realogy,” said Alex Perriello, president and CEO of the Realogy Franchise Group, the parent company of both Coldwell Banker and ERA. “He is well prepared to return to his roots and lead Coldwell Banker into the future. The leadership succession plan we have executed speaks to the management talent we have assembled within the Realogy Franchise Group.”

“It will be a privilege and an honor for me to lead the Coldwell Banker Real Estate franchise system,” said Young. “I have a wealth of respect for the brand’s 100-plus year heritage and the tradition of innovation that has been the hallmark of Coldwell Banker for many years. I also look forward to reconnecting with the members of its distinguished network as we work together on growing the brand’s considerable market presence, both domestically and internationally.”

Budge Huskey

Budge Huskey

Young succeeds Budge Huskey, who elected to retire from the position after spending the past 18 years with the Coldwell Banker system in both franchising and brokerage executive roles. Huskey led the Coldwell Banker brand for the past six years, first as president and chief operating officer in June 2010 before becoming president and CEO in January 2013. Huskey plans to return to his home state of Florida where he eventually intends to return to the real estate brokerage business.

“I am incredibly grateful to Realogy for the amazing opportunities afforded to me over these many years, none more rewarding than the privilege of leading the iconic Coldwell Banker franchise network,” said Huskey.

“I would like to thank Budge Huskey for his hard work, dedication and service to Coldwell Banker at both the brand and brokerage operations level,” added Perriello. “He is a consummate professional, and we wish him well in the future.”

Susan Yannaccone ERA

Susan Yannaccone

Replacing Young as president and CEO of ERA will be Susan Yannaccone, also effective September 1, 2016, ERA Real Estate announced. Yannaccone, who currently serves as ERA’s chief operating officer, brings two decades of experience in real estate franchising and sales and is widely respected in the industry.

“Sue Yannaccone is a dynamic real estate leader who has distinguished herself since joining ERA Real Estate,” said Perriello. “Her strategic thinking capabilities, strong business acumen and outstanding relationship skills will be tremendous assets in this role. The time has come for Sue to take the next step forward in her career, and I couldn’t be more pleased and supportive. The leadership succession plan we have executed also speaks …read more

From:: Finance and Economy

Home Lending Volume Up at BofA

Yet another big home loan provider — Bank of America Corp. — realized much healthier quarterly mortgage production volume. The servicing portfolio continued to diminish.

From the first day of April to the end of June of this year, the BofA originated 25 percent less in new home loans than it did during the previous three-month period.

This information, as well as other operational and financial performance data, was provided in the Charlotte, North Carolina-based firm’s second-quarter earnings report.


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From:: Financing

Game of Thrones season 7 to be shorter: report

Season seven of Games of Thrones will only consist of seven episodes, rather than 10, The Hollywood Reporter reported, citing HBO . The fantasy drama will premier later than usual, in summer 2017, becausethe production has to wait for gloomier, winter weather to come. The production will be based in Northern Ireland and scenes will also be shot in Spain and Iceland, according to The Hollywood Reporter.

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From:: Stock Market News

PNC Mortgage Originations Mixed

A quarter-over-quarter gain was made in home lending at The PNC Financial Services Group Inc., though there was a year-over drop.

In the three months that ended on June 30, PNC’s residential loan origination volume was 37 percent more than its first-quarter volume.

That was among many operational details disclosed by the Pittsburgh-based financial institution in its second-quarter 2016 earnings report.


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From:: Financing