Foreclosures | Mortgages | Financing
A mortgage company owned by a New York country legislator and a former Syracuse city auditor is among the alleged victims of a mortgage fraud conspiracy that involved a lawyer, a mortgage broker, a real estate appraiser, and a Realtor working together to defraud lenders out of more than $4 million. …read more
From:: Real Estate Wire
A mortgage company owned by a New York country legislator and a former Syracuse city auditor is among the alleged victims of a mortgage fraud conspiracy that involved a lawyer, a mortgage broker, a real estate appraiser, and a Realtor working together to defraud lenders out of more than $4 million. …read more
From:: Real Estate Wire
Oil futures gained more ground after data from Baker Hughes showed that the number of active U.S. rigs drilling for crude fell by 8 to 343 as of Friday, down a fifth straight week. The total U.S. rig count fell 9 to 431. June crude was at $43.72 a barrel on the New York Mercantile Exchange, up 54 cents, or 1.3%. It was trading at $43.60 before the data.
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
Offshore drilling contractor Noble Corp. Plc on Friday slashed its dividend to 2 cents a share in a move aimed at preserving cash and bolstering its liquidity. The company’s last quarterly dividend was 15 cents a share, paid in early February. “Noble continues to implement strategic adjustments that further reinforce our sound position as we guide the company through this historic downturn,” Chief Executive David Williams said in a statement. The company had $2.7 billion of liquidity at end March, he said. The new payment will be made May 9 to shareholders of record as of May 2. Shares were trading up 6% Friday, and have gained 12% in the year so far, while the S&P 500 has gained about 2%.
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 Advanced Micro Devices Inc. were having their best day in over 40 years, after the company announced a new licensing deal to a chip joint venture in China and reported better-than-expected quarterly results and outlook. The stock rocketed 36% in morning trade, the biggest percentage gain since it shot up 63% way back on Jan. 29, 1975. Volume hit 66 million shares within 90 minutes after the open, already about five times the full-day average. The stock was both the biggest gainer and most active on the Nasdaq exchange. Analyst Ian Ing at MKM Partners upgraded AMD to buy from neutral, and raised its stock price target to $4 from $2.90, saying the new China JV could become the best challenge yet to Intel Corp.’s server dominance. It has now surged 56% over the past 12 months, putting it on track to close at the highest level since Sept. 29, 2014. In comparison, Intel shares have lost 3.4% over the past year and the S&P 500 has slipped 1.2%.
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
SecureWorks Inc. , the year’s first U.S. tech initial public offering, was trading at $13.69 Friday, below its issue price of $14. SecureWorks, a cybersecurity company, is a spinoff of Dell Inc. and had already priced below the initial range of $15.50 to $17.50. The company sold 8 million shares to raise $112 million. Bank of America Merrill Lynch, Morgan Stanley, Goldman, Sachs & Co. and J.P. Morgan were 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.
From:: Stock Market News
SecureWorks Inc. , the year’s first U.S. tech initial public offering, was trading at $13.69 Friday, below its issue price of $14. SecureWorks, a cybersecurity company, is a spinoff of Dell Inc. and had already priced below the initial range of $15.50 to $17.50. The company sold 8 million shares to raise $112 million. Bank of America Merrill Lynch, Morgan Stanley, Goldman, Sachs & Co. and J.P. Morgan were 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.
From:: Stock Market News
CSM Bakery Solutions, the company that supplies fast-food chain Chick-fil-A with its Chocolate Chunck Cookies, has issued a voluntary recall of the cookies “due to the potential presence of undeclared peanut allergens,” Chick-fil-A said in a Friday release. Chick-fil-A will stop selling the cookies until the issue is resolved. Currently the nutrition and allergen information says the cookie is peanut-free. Customers are urged to discard the cookies, or they can return them to Chick-fil-A for a full refund.
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
Microsoft Corp.’s stock plunged 8.5% in active morning trade, wiping away about $38 billion in market value and cutting the Dow Jones Industrial Average’s gain in half, in the wake of disappointing quarterly results. Volume topped 35 million shares within the first 45 minutes after the opening bell, compared with the full-day average of of 26.4 million shares. The stock on course to suffer the biggest percentage decline since it tumbled 9.3% on Jan. 27, 2015, which also followed disappointing quarterly results. With about 7.91 billion shares outstanding, according to FactSet, the price decline of $4.75 was erasing $37.57 billion from its market cap. The decline was also shaving off about 33 points from the Dow, which was recently up 22 points.
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
NGL Energy Partners’ stock rocketed 31% in active morning trade Friday, after the energy company announced a $200 million investment from Oaktree Capital Management. Volume topped 6.5 million shares within the first 30 minutes of trade, compared with the full-day average of 1.5 million shares. The company said late Thursday that it will issue $200 million of Class A convertible preferred units to funds managed by Oaktree. NGL said it plans to use the proceeds from the investment to pay down debt. The company said it also formed a strategic relationship with Oaktree to pursue opportunities. “The investment by Oaktree is a strong endorsement of our business model, strategy and future growth projects,” said NGL Chief Executive Mike Krimbill. “We plan to jointly pursue certain attractive assets together that Oaktree will assist in financing/structuring and NGL will operate.” The stock has now gained 29% year to date, but is still down 49% over the past 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.
From:: Stock Market News