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Gold futures settled with a loss on Friday, as strength in the U.S. dollar sent prices for the metal to their lowest level in two weeks. December gold fell $3.30, or 0.3%, to settle at $1,162.80 an ounce on Comex, the lowest settlement since Oct. 9. For the week, prices lost 1.7%.
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
Whirlpool Corp. slumped to its 52-week low Friday after the appliance maker reported weaker-than-expected quarterly revenue and warned that the strong dollar will continue to hurt sales. “Throughout this year in 2015, we’ve seen emerging market demand significantly decline and the U.S. dollar rapidly strengthened against most of the currencies,” said Chief Executive Jeff Fettig during a conference call. Whirlpool reported third-quarter earnings of $235 million, or $2.95 a share, compared with $230 million, or $2.88 a share, a year ago. Ongoing business earnings per share came in at $3.45, better than $3.29 a share projected by analysts in a FactSet survey. Revenue rose 9.4% to $5.28 billion but missed estimates of $5.41 billion. The company expects dollar headwinds to lower its 2015 revenue by as much as $2.5 billion and EPS by $4 from the previous year. Weak emerging-market demand will also cut its EPS by $1.75. Whirlpool projected 2015 EPS of $9.75 to $10.25. Shares of Whirlpool declined 8.6% to $146.
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
China’s yuan will likely be admitted to the International Monetary Fund’s Special Drawing Rights basket,Bloomberg reported Friday. Inclusion of the yuan, also known as the renminbi, would confer de facto reserve status on the currency, something China has long coveted, and likely encourage central banks to increase their holdings of yuan reserves. IMF representatives have alerted China of the possible outcome, Bloomberg reported, citing Chinese officials with knowledge of the matter. The SDR basket currently includes four currencies, the dollar, pound, yen and euro, which together determine the value of an SDR, a reserve asset created by the IMF to smooth over liquidity issues between central banks.
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 lost more ground after data from Baker Hughes showed that the number of active U.S. oil-drilling rigs fell by 1 to 594 as of Friday. The total active U.S. rig count, which includes natural-gas rigs, was unchanged at 787. Compared to last year, the total rig count has fallen by 1,140, with the oil rig count down 1,001. December crude fell to $44.59 a barrel on the New York Mercantile Exchange, down 79 cents, or 1.7%. It was trading at $44.80 just 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
VF Corp. shares fell to their 52-week low Friday after the apparel maker lowered its full-year revenue outlook. The owner of apparel brands such as Wrangler and Vans said third-quarter earnings fell to $459.9 million, or $1.07 a share, from $470.5 million, or $1.08 a share, a year earlier. Revenue rose 2.6% to $3.61 billion. VF Corp. also cut its revenue outlook for 2015 to growth of 7.5% from 8% previously, due to weakness in the workwear business, which has been hurt by depressed oil exploration. Shares of VF Corp. were among the worst S&P 500 losers, falling 13% to $63.47.
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From:: Stock Market News
Imprimis Pharmaceuticals said it is offering customizable compounded alternatives to Turing Pharmaceuticals’ high-priced Daraprim for as low as $99 for a 100-count bottle. Turing bought the U.S. rights to Daraprim in August and promptly increased the price of the drug from $13.50 per tablet to $750 per tablet, leading to backlash and headlines last month. Both Daraprim and Imprimis’ alternative are prescribed for infections afflicting patients with compromised immune systems, including patients with HIV/AIDS, pregnant women and children. The price hike raised questions about how prescription drugs can cost so much. Imprimis is also creating a new program, Imprimis Cares, that aims to provide these compounded formulations to combat high-priced generic drugs. Imprimis Pharmaceuticals is down 20.4% for the year so far. The Nasdaq is down 1.9% for the same 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
Shares of Stericycle Inc. sank on Friday to top S&P 500 decliners after the medical waste management company reported disappointing quarterly earnings. Stericycle said late Thursday its third-quarter earnings per share slumped to 47 cents from 96 cents a year ago. On an adjusted basis, it would have earned $1.08 a share, below the $1.18 a share forecast by analysts in a FactSet survey. Revenue rose 7.6% to $718.6 million but undershot the $735 million expected by Wall Street. Stericycle shares stumbled 21% to $118.46.
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
Steven Ballmer may no longer work for Microsoft Corp. , but he’s having a great day, and a super month, with the software giant’s stock. Ballmer owned 333,254,734 shares, or a 4.2% stake in Microsoft as of Sept. 30, according to FactSet, which made him the third-largest shareholder. With the stock up $4.96, or 10%, in midday trade Friday after bullish fiscal first-quarter results, Ballmer is making $1.65 billion in one day on his Microsoft stake. With the stock up $8.73 since Sept. 30, Ballmer could be making $2.91 billion this month. The stock is on track for the second-biggest one-day price gain in its history, and biggest since Oct. 19, 2000. If the month-to-date price gains hold, it would be the fourth-biggest ever monthly gain, and biggest since January 2001.
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
What is your definition of “affordable” housing? To some, it means rental prices that are affordable to those earning the area’s median income or greater. As cities struggle to pass rent control measures, some real estate companies are surprisingly putting a cap to rent renewals. Michael Schall, CEO of Essex Realty Trust, is changing the game by enforcing a 10% rent cap renewal.
on MultiFamily Executive
From:: Property Management
A good credit score is not only crucial for buying homes — having optimal credit can make you the better renter choice for landlords. In areas with high occupancy rates and heavy competition, a great score can make or break your chances at a dream apartment. The best ways to ensure a stellar credit score: track your finances, stick to a budget, and pay your credit on time. Read more for credit score basics as well as lesser known tips to achieving the perfect number.
Read full story on Trulia.com.
From:: Property Management