Foreclosures | Mortgages | Financing
While the mortgage market is improving according to a new report from the Office of the Comptroller of the Currency, it only focuses on eight of the largest national banks. Looking over the past two years, their grip on the mortgage market is starting to loosen. …read more
From:: Real Estate Wire
U.S. stocks opened higher on Wednesday, set to benefit for a second session from a cautious stance on interest-rate hikes expressed by Federal Reserve Chairwoman Janet Yellen. A private-sector jobs report on Wednesday showed a modest deceleration from the prior month but remained roughly in line with expectations. The S&P 500 opened 7 points, or 0.3%, higher at 2,062. The Dow Jones Industrial Average gained 65 points, or 0.4%, to 17,694. Meanwhile, the Nasdaq Composite began the day up 28 points, or 0.6%, at 4,875.
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 Carnival Corp. shot up 4.1% in premarket trade Wednesday, after the cruise operator beat fiscal first-quarter profit expectations and bumped up its full-year outlook. For the quarter ended Feb. 29, earnings rose to $142 million, or 18 cents a share, from $49 million, or 6 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 39 cents, above the FactSet consensus of 31 cents. Revenue rose to $3.65 billion from $3.53 billion, boosted by growth in passenger tickets and onboard sales. The FactSet sales consensus was $3.63 billion. The company expects fiscal second-quarter adjusted EPS of 34 cents to 38 cents, surrounding the FactSet consensus of 37 cents. The full-year EPS outlook was increased to $3.20 to $3.40 from $3.10 to $3.40. “The lower levels of inventory remaining for sale for the balance of the year, particularly for our peak summer period, positions our brands well for continued revenue yield growth and builds confidence in our full year earnings forecast,” Chief Executive Arnold Donald said. The stock has dropped 8.9% year to date through Tuesday, while the S&P 500 has gained 0.5%.
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
Cowen upgraded shares of Apple Inc. to outperform from market perform and raised its price target on the stock Wednesday to $135 from $125. Analyst Timothy Arcuri said Apple estimates “have bottomed,” and that the iPhone 7, expected to be unveiled in September, will help spur upgrades in the near term. “Street estimates finally look safe while [year-over-year] compares on iPhone units and overall Apple revenue are bottoming” and should turn flat as soon as the calendar fourth quarter, said Arcuri. Cowen also believes that Apple’s potential adoption of OLED screens for new flagship phones starting in 2017 might help boost sales longer term. Shares of Apple rose 1.3% to $109.05 in premarket trade. They’re down 14% from a year ago, versus a 2% decline for the Dow Jones Industrial Average.
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
Cowen upgraded shares of Apple Inc. to outperform from market perform and raised its price target on the stock Wednesday to $135 from $125. Analyst Timothy Arcuri said Apple estimates “have bottomed,” and that the iPhone 7, expected to be unveiled in September, will help spur upgrades in the near term. “Street estimates finally look safe while [year-over-year] compares on iPhone units and overall Apple revenue are bottoming” and should turn flat as soon as the calendar fourth quarter, said Arcuri. Cowen also believes that Apple’s potential adoption of OLED screens for new flagship phones starting in 2017 might help boost sales longer term. Shares of Apple rose 1.3% to $109.05 in premarket trade. They’re down 14% from a year ago, versus a 2% decline for the Dow Jones Industrial Average.
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 Opko Health Inc. fell more than 8% in premarket trade on Thursday after it said the U.S. Food and Drug Administration informed the company its application for a new drug could not be approved. The company’s third-party manufacturer failed to pass inspection, the company said in a statement. The application the FDA declined to approve was for Rayaldee, a new treatment for secondary hyperparathyroidism, but the FDA’s observations were not specific to Rayaldee, according to a news release. The third-party manufacturer has said it will respond promptly to the FDA’s observations. Opko shares have fallen nearly 25% over the last 12 months, based on Wednesday’s close, while the S&P 500 Index has dropped about 1.5%.
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
Valeant Pharmaceuticals International Inc.’s stock surged 4.4% in premarket trade Wednesday, after the drug maker said it was seeking an amendment and waiver to its credit facility. As part of the waiver, the company is looking to extend the deadline for filing its Form 10-K annual report to May 31, and the deadline to file its first-quarter report to July 31. Under terms of the proposed amendment, the company is seeking to amend the interest coverage maintenance covenant and certain financial terms that would allow for additional flexibility in the financial covenants. “The Company is comfortable with its current liquidity position and cash flow generation for the rest of the year, and remains well positioned to meet its obligations,” the company said in a statement. Valeant missed the previous deadline to file its annual report as it completed an investigation into revenue recognition and inventory accounting. The company has also faced scrutiny over drug pricing. The stock has plunged 71% year to date through Tuesday, while the S&P 500 has gained 0.5%.
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
The market right now is primed for a surge in refinance demand, given the record-low interest rates and millions of eligible borrowers, yet the latest data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey is painting a very different picture. …read more
From:: Real Estate Wire
Whereas some current tools identify appraisal risk post-delivery, Pro Teck’s new tool will be able to identify the risk before the appraisal is submitted. The product’s aim is to reduce wasteful communication cycles between the appraiser, appraisal management software and the client for correction, clarification and confirmation. …read more
From:: Real Estate Wire
Whereas some current tools identify appraisal risk post-delivery, Pro Teck’s new tool will be able to identify the risk before the appraisal is submitted. The product’s aim is to reduce wasteful communication cycles between the appraiser, appraisal management software and the client for correction, clarification and confirmation. …read more
From:: Real Estate Wire