Foreclosures | Mortgages | Financing
Considering how many times House Financial Services Committee Chairman Rep. Jeb Hensarling, R-TX, blamed “the Left” for the consequences of the Dodd-Frank Wall Act during his speech announcing a Republican-crafted plan to repeal Dodd-Frank, it was highly likely that those on “the Left” would be quick to condemn Hensarling’s plan. And two of the top names in the Democratic party didn’t disappoint. …read more
From:: Real Estate Wire
Oxford Industries Inc. shares fell in the extended session Tuesday after the owner of the Lilly Pulitzer and Tommy Bahama brands missed Wall Street earnings estimates and lowered its outlook for the year. Oxford shares dropped 7.1% to $60.50 after hours. The company reported adjusted first-quarter earnings of $1.26 a share on revenue of $256.2 million. Analysts surveyed by FactSet had estimated $1.33 a share on revenue of $270.4 million. For the year, Oxford lowered its adjusted profit outlook to a range of $3.65 to $3.80 a share from a previous range of $3.75 to $3.95 a share. Analysts had forecast $4.01 a share. “Clearly, our businesses were impacted by the well-publicized weakness in the retail environment, particularly in fashion apparel,” said Thomas Chubb, Oxford chairman and chief executive, 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.
From:: Stock Market News
Oxford Industries Inc. shares fell in the extended session Tuesday after the owner of the Lilly Pulitzer and Tommy Bahama brands missed Wall Street earnings estimates and lowered its outlook for the year. Oxford shares dropped 7.1% to $60.50 after hours. The company reported adjusted first-quarter earnings of $1.26 a share on revenue of $256.2 million. Analysts surveyed by FactSet had estimated $1.33 a share on revenue of $270.4 million. For the year, Oxford lowered its adjusted profit outlook to a range of $3.65 to $3.80 a share from a previous range of $3.75 to $3.95 a share. Analysts had forecast $4.01 a share. “Clearly, our businesses were impacted by the well-publicized weakness in the retail environment, particularly in fashion apparel,” said Thomas Chubb, Oxford chairman and chief executive, 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.
From:: Stock Market News
First-quarter earnings at independent home loan servicers worsened as losses piled up from the valuations and hedging of mortgage servicing rights.
Average loans serviced per full-time mortgage servicing employee at residential loan servicers came to 1,297 mortgages in the first-quarter 2016.
Efficiency improved compared to the final-three months of last year, when the average independent servicer had 1,318 loans serviced per employee.
From:: Financing
First-quarter earnings at independent home loan servicers worsened as losses piled up from the valuations and hedging of mortgage servicing rights.
Average loans serviced per full-time mortgage servicing employee at residential loan servicers came to 1,297 mortgages in the first-quarter 2016.
Efficiency improved compared to the final-three months of last year, when the average independent servicer had 1,318 loans serviced per employee.
From:: Financing
Catabasis Pharmaceuticals Inc. shares dropped in the extended session Tuesday after the tiny biotech said its high-cholesterol treatment did not meet the primary goal of lowering bad cholesterol in patients already taking medication for the condition. Catabasis shares, which had been briefly halted at $6.85, tumbled 51% to $3.35 after hours on light volume. The company said that it does not expect to invest further resources in the drug candidate known as CAT-2054.
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 edged up in electronic trading Tuesday after the American Petroleum Institute reported that U.S. crude supplies fell by 3.6 million barrels for the week ended June 3, according to sources who reviewed the report. Analysts polled by S&P Global Platts forecast a decline of 3.4 million barrels for crude inventories. The closely watched Energy Information Administration report will be released Wednesday. August crude was at $50.43 a barrel in electronic trading, up from the contract’s settlement of $50.36 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.
From:: Stock Market News
VeriFone Systems Inc. stock fell more than 20% in late trading Tuesday after the company reported disappointing quarterly earnings, announced layoffs and reduced its annual forecast. The payment-systems company reported profit of 3 cents a share on sales of $526 million; after adjustments, VeriFone claimed profit of 47 cents a share. Analysts polled by FactSet expected earnings of 52 cents a share on sales of $530 million, and VeriFone had forecast profit of 51 cents to 52 cents a share. Citing “difficult market dynamics,” VeriFone Chief Executive Paul Galant brought down the company’s forecast for the 2016 fiscal year and said headcount would be cut to save $30 million in 2017. “We are aggressively executing mitigating actions including a headcount restructuring and a review of underperforming businesses,” Galant said in the announcement. The company now expects profit of $1.85 a share on sales of $2.1 billion, down from a projection of $2.21 to $2.24 a share in profit on sales of $2.15 billion to $2.17 billion. VeriFone shares plunged to less than $21.50 after closing with a 1.3% gain at $28.22.
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
Realizing or deciding its time to move to a new home is the easy part. From there, comes the choice to buy a home or to rent. This is where it gets difficult. As you hash out this decision, the American Bankers Association Foundation, in recognition of American Housing Month, suggested the following six questions to help when deciding whether to rent or buy. …read more
From:: Real Estate Wire
The S&P 500 extended gains to finish at a 10-high close on Tuesday as various technical indicators suggested more upside potential for the large-cap index. “Short-term momentum remains positive and the market has not reacted to signs of exhaustion,” said Katie Stockton, chief technical strategist at BTIG. The S&P 500 rose 3 points, or 0.1%, to 2,112, the highest close since July 22. The Dow Jones Industrial Average added 18 points, or 0.1%, to end at 17,938 while the Nasdaq slipped 7 points, or 0.1%, to close at 4,961. Stephen Suttmeier, chief equity technical strategist at Bank of America Merrill Lynch, noted that stocks remain resilient despite uncertainty over the timing of the Federal Reserve interest-rate hike and predicted that the S&P 500 could hit record territory if it continues to close above the 2,085-2,110 range for a sustained 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