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Lockheed Martin’s stock surges after profit and sales beat expectations

Shares of Lockheed Martin Corp. surged 3.8% in premarket trade Monday, after the aerospace and defense contractor reported fourth-quarter earnings that beat expectations and provided an upbeat outlook. The net loss for the quarter to Dec. 31 was $642 million, or $2.25 a share, compared with a profit of $988 million, or $3.39 a share, in the same period a year ago. Excluding non-recurring items, such as the impact of tax-reform legislation that lifted the effective tax rate for the quarter to 142.3% from 23.6% last year, adjusted EPS was $4.30, above the FactSet consensus of $4.04. Revenue rose to $15.14 billion from $13.75 billion, beating the FactSet consensus of $14.73 billion, as missiles and fire control, rotary and mission systems and space sales were better than expected and aeronautics sales were in line with forecasts. For 2018, the company expects revenue of $50.0 billion to $51.5 billion, surrounding the FactSet consensus of $51.2 billion, while the EPS outlook of $15.20 to $15.50 is above expectations of $14.00. The stock has run up 36% over the past 12 months, while the S&P 500 has gained 25%.

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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AMD stock rises after MKM Partners predicts strong quarter fueled by crypto business

Shares of Advanced Micro Devices Inc. rose 1.6% in premarket trading Monday after MKM Partners analyst Ruben Roy came out incrementally more upbeat on the company’s immediate prospects. Though he still has a neutral rating on shares, Roy thinks that AMD looks positioned to deliver better-than-expected results for its December quarter as well as a stronger-than-anticipated forecast for its March quarter. The company reports earnings Tuesday. Roy cites “recent positive data points around the PC, server, and cryptocurrency mining markets” as reasons for his optimism, and he believes that most of the “upside delta” will come from the crypto side of the business. He raised his fair value estimate on shares to $14.50, from $13. Though he sees room for upside in the near-term, he’s more cautious looking further ahead. “From a longer-term perspective, we continue to view the crypto market from a conservative stance and while we continue to appreciate AMD’s recent execution, we have yet to see evidence of meaningful share gains with the company’s recently introduced product families,” Roy wrote. AMD shares have gained 23% over the past 12 months, with the S&P 500 Index up 25% in that time.

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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Starbucks downgraded on business shift to China from the U.S.

Starbucks Corp. was downgraded to market perform at Bernstein on the business shift to China from the U.S. However, the shift is “just not fast enough to offset the U.S.” deceleration, analysts wrote in a Monday note. Bernstein’s price target is $64. U.S. same-store grew 2% in the fiscal first-quarter. Among the explanations that Starbucks has given for U.S. deceleration are challenges to loyalty program membership and slowing retail traffic. However, analysts highlight new stores and sluggish gift card sales in December “confirms in our mind that the company has reached a point where it should be growing generally in line with the industry, not ahead of it,” analysts wrote. Starbucks shares are down 0.7% in premarket trading, but up 3.3% for the past year. The S&P 500 index is up 25.2% for the last 12 months.

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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Immersion settles with Apple, reaches license agreements

Immersion Corp. said Monday it has entered into settlement and license deals with Apple Inc. . Immersion, which develops touch feedback technology, had filed patent infringement lawsuits against Apple for technology used in iPhones and the trackpads used in MacBooks. Immersion said the terms of the agreements reached with Apple are confidential. The stock, which was still inactive in premarket trade, has tumbled 30% over the past 12 months, while the S&P 500 has gained 25%.

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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Shares in AMS jump 20% after iPhone X supplier raises outlook

Shares in AMS AG soared 20% on Monday after the Austrian chip company reported record full-year revenue of 1.06 billion euros ($1.32 billion) and raised its revenue forecast for 2016-2019 to compound annual growth of 60%. AMS, whose sensor technology helps power the Apple iPhone X’s facial-recognition feature, had been hit with an analyst downgrade last week tied to worries about weaker-than-expected iPhone X demand.

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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Trump administration mulls nationalizing 5G wireless network: reports

The Trump administration is considering nationalizing the next-generation, high-speed 5G wireless network in an effort to prevent Chinese spying on U.S. mobile traffic, according to reports Sunday. Axios first reported the proposal, and White House sources later confirmed it to Reuters. “We want to build a network so the Chinese can’t listen to your calls,” a source told Reuters. The plan calls for a centralized, secure nationwide network within three years, according to Axios. The unprecedented move is still six to eight months from a formal proposal, Axios reported, and is expected to be fiercely debated within the administration and by the telecom industry. Currently, telecom companies build their own networks. Under the plan, the government would build and pay for the superfast network, and telecom companies would rent access to it. AT&T Inc. , Verizon Inc. and T-Mobile USA Inc. have already invested billions of dollars on developing their own 5G networks.

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Fitness-tracking map reveals locations of secret U.S. bases: reports

An interactive online map that shows locations of wearable fitness-tracker users inadvertently reveals the locations of secret U.S. military bases overseas, according to reports Sunday. The Global Heat Map from Strava, a San Francisco-based GPS tracking company, visualizes activity from tens of millions of users of its app from 2015 through September 2017. Its app can be used on popular devices such as Fitbit, Jawbone and Vitofit. But in doing so, it also shows locations where soldiers wearing those devices are training, including sites in Somalia, Niger, Syria and Afghanistan. While the bases are not marked as such on the app, their remote locations suggest their true functions. Some bases are public knowledge, but others are not, and either way, the data could be used to track soldiers’ training routines and plan ambushes, experts told The Guardian and the Washington Post. “This is a clear security threat,” one security analyst told the Post. After the reports, Strava on Sunday urged its users to review the app’s privacy settings.

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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Assessing the State of the Housing Union

By Susanne Dwyer

R3-22836-StateofHousingUnion

In 2018, the challenge for the housing industry will be balancing bursting demand with a severe shortage of supply, according to realtor.com®’s State of the Housing Union, released in-step with the U.S. State of the Union this week. As with 2017, first-time buyers will have the hardest time, with little in their price point.

“The macro-factors that have defined real estate in recent years—strong demand and weak supply—continue to set the tone for the industry,” says Joseph Kirchner, senior economist for realtor.com.

The issues? Builders have been burdened by construction costs and lack of labor, and have concentrated on higher-priced homes.

“Builders will need to focus more on homes geared for moderate incomes, partner with the government on initiatives to transform distressed urban neighborhoods and overcome labor shortages through a combination of workforce development training and pressure to ease artificial restrictions on the supply of labor,” Kirchner says.

The dearth of inventory made prices rise, but sales struggle in 2017, according to data from realtor.com. Appreciation was at an average 5.8 percent, while pre-owned sales eked out a 1.1 percent gain. Comparing blue and red states:

A factor of significance: tax reform. In 2017, 2.5 percent of blue state mortgages were over $750,000—the limit on the mortgage interest deduction (MID) under the Tax Cuts and Jobs Act, which will apply to loans obtained on or after Dec. 15, 2017. Only 0.4 percent of red state mortgages were over the threshold.

“The new tax law that caps the mortgage interest deduction and the deductibility of state and local taxes can be expected to impact the upper-end market in 2018—precisely how and the extent of which remain to be seen,” says Kirchner.

Around the bill’s passage, realtor.com researchers surveyed Americans on their attitudes toward homeownership in light of reform. More than one-third were “concerned;” a considerable group of homebuyers and sellers reconsidered their plans.

For more information, please visit www.realtor.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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From:: Real Estate News

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Assessing the State of the Housing Union

By Susanne Dwyer

R3-22836-StateofHousingUnion

In 2018, the challenge for the housing industry will be balancing bursting demand with a severe shortage of supply, according to realtor.com®’s State of the Housing Union, released in-step with the U.S. State of the Union this week. As with 2017, first-time buyers will have the hardest time, with little in their price point.

“The macro-factors that have defined real estate in recent years—strong demand and weak supply—continue to set the tone for the industry,” says Joseph Kirchner, senior economist for realtor.com.

The issues? Builders have been burdened by construction costs and lack of labor, and have concentrated on higher-priced homes.

“Builders will need to focus more on homes geared for moderate incomes, partner with the government on initiatives to transform distressed urban neighborhoods and overcome labor shortages through a combination of workforce development training and pressure to ease artificial restrictions on the supply of labor,” Kirchner says.

The dearth of inventory made prices rise, but sales struggle in 2017, according to data from realtor.com. Appreciation was at an average 5.8 percent, while pre-owned sales eked out a 1.1 percent gain. Comparing blue and red states:

A factor of significance: tax reform. In 2017, 2.5 percent of blue state mortgages were over $750,000—the limit on the mortgage interest deduction (MID) under the Tax Cuts and Jobs Act, which will apply to loans obtained on or after Dec. 15, 2017. Only 0.4 percent of red state mortgages were over the threshold.

“The new tax law that caps the mortgage interest deduction and the deductibility of state and local taxes can be expected to impact the upper-end market in 2018—precisely how and the extent of which remain to be seen,” says Kirchner.

Around the bill’s passage, realtor.com researchers surveyed Americans on their attitudes toward homeownership in light of reform. More than one-third were “concerned;” a considerable group of homebuyers and sellers reconsidered their plans.

For more information, please visit www.realtor.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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Housing Is Recouping Value Unevenly: Report

By Susanne Dwyer

Zillow_Market_Gains

With the downturn long past, housing has gained its lost value—$9 trillion, according to a new report by Zillow. How the recovery has shaken out, however, is telling.

“A decade after the financial crisis, the scars of the housing bust are still with us,” says Aaron Terrazas, senior economist at Zillow. “The gap between the metros with the strongest and weakest housing market recoveries is as wide as it has ever been.”

How much markets have recouped varies wildly, the report reveals. The biggest gains are out West: homes in the San Jose, Calif., metropolitan area are worth $615,100 more than they were 10 years ago; homes in the San Francisco metro area, likewise, are worth $435,700 more. In areas like Indianapolis, however, appreciation has been considerably less. The average falls somewhere in the middle: $55,200.

“The California Bay Area’s housing recovery stands out when compared to other markets that saw similar home value appreciation because it has more than regained all of its lost value,” Terrazas says. “Strong, high-paying job markets and persistently limited inventory sent prices skyrocketing, leading to the Bay Area having the most valuable housing markets in the country.”

How the 10 largest metro areas have recovered:

For more information, please visit www.zillow.com.

DeVita_Suzanne_60x60Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Housing Is Recouping Value Unevenly: Report appeared first on RISMedia.

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