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By Rachel Jefferson

Rent.com just released it’s annual market report citing research done on hundreds of property managers, thousands of rental properties, and hundreds of thousands of rental units across the country. The current rental market is experiencing the lowest vacancy rates in nearly 20 years. This is good news for property managers, who have reported a decrease in their rental vacancies. There are more prospective tenants to choose from and less of a need to negotiate rental prices. Rental rates continue to rise, making it a great time to be a property manager.

Read the full report on Rent.com.

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From:: Property Management

Valeant Pharmaceuticals International Inc.’s stock tumbled 23% on heavy volume in midday trade Wednesday, after a bearish report from a noted short-seller regarding questionable business practices made the rounds. The drug company’s stock has now plunged $64.36, or 36% this week, after the company said early Monday that it was mulling a change in strategy, including a possible spinoff of assets, as it faces government scrutiny over its pricing and distribution practices. If billionaire investor Bill Ackman’s hedge fund, Pershing Square Capital Management, still holds the 19.47 million shares the latest regulatory filings said it owned as of June 30, it would be losing $1.25 billion on its Valeant investment this week, and $2.12 billion since June 30. Pershing, which is Valeant’s third largest shareholder, declined to comment. The largest shareholder, Ruane, Cunniff & Goldfarb Inc., owns 33.88 million Valeant shares, and could be losing $2.18 billion this week, according to FactSet; T. Rowe Price Associates, the second-largest shareholder with 20.46 million shares, could be losing $1.32 billion this week.

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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From:: Stock Market News

Producers for the Oscars said on Wednesday that comedian and actor Chris Rock will host the 2016 awards show. Rock helmed the show once before in 2005. “Chris Rock is a comedic powerhouse who will bring tremendous energy to the event, and we’re honored to have him,” said ABC Entertainment Group president Paul Lee in a statement. The Oscars, which will be broadcast live in more than 225 countries and territories, is set to air at 7 p.m est on Sunday, Feb. 28 2016 on Walt Disney Co.’s network ABC.

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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From:: Stock Market News

Valeant Pharmaceuticals International Inc. shares tumbled 25% Wednesday, after a short seller alleged revenue-recognition improprieties, adding to the recent pressure on the stock. Short-selling firm Citron Research published a damning report on Wednesday, alleging that there is a secret relationship between Valeant and a subsidiary called Philador and a customer of Philador’s called R&O. Valeant had never disclosed the existence of Philador until recent scrutiny of the company’s accounting and distribution forced it to do so on its last earnings call. Citron claims that Philador and the downstream customer are one and the same, meaning Valeant is shipping product to its own subsidiary and then falsely claiming the revenue. The issue is complicated by the complex ownership structure of all the companies. Valeant was not immediately available to comment. Citron, run by investor Andrew Left, is well-known in investing circles. This summer, its report on chip maker Ambarella Inc. sent that company’s shares tumbling; in late 2014, it drew the attention of Hong Kong regulators following a report about a Chinese property developer. Citron has published two other reports on Valeant this fall. Hedge fund Pershing Square Capital Management Inc., the company’s third-biggest shareholder and a staunch supporter of Valeant, declined to comment.

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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From:: Stock Market News

WASHINGTON (MarketWatch) — Financier Carl Icahn says he is forming a $150 million Super PAC aimed at ending the dysfunction in Congress. In a letter posted on his web site, Icahn said he’ll take particular aim at corporate inversions, which are merger deals with a foreign company to switch the taxable domicile. Icahn says international tax reform would prevent further inversions, and he proposed a repatriation tax on the order of 5% to 10% that would also fund a highway infrastructure bill.

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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From:: Stock Market News

Oil prices continued to fall on Wednesday after the U.S. Energy Information Administration reported an increase of 8 million barrels in crude supplies for the week ended Oct. 16. Analysts polled by Platts expected supplies to be up by 2.7 million barrels, while the American Petroleum Institute Tuesday said inventories rose 7.1 million barrels, according to sources. Gasoline supplies fell by 1.5 million barrels, while distillate stockpiles declined by 2.6 million barrels last week, according to the EIA. December crude was at $45.30 a barrel, down 99 cents, or 2.1%, on the New York Mercantile Exchange. Prices traded at $45.12 before the report.

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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From:: Stock Market News

Outgoing House Speaker John Boehner said Republicans will meet on Oct. 28 to nominate a candidate to replace him. Tuesday night, Rep. Paul Ryan of Wisconsin said he would run for the job if certain conditions were met. Boehner has said he wants to leave Congress on Oct. 31. A candidate must win a majority of votes of the entire House to be elected speaker. The date for the full House vote is Oct. 29.

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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From:: Stock Market News

Hormel Foods named James Snee president and chief operating officer effective Oct. 26 and appointed him to the board of directors. Snee succeeds Jeffrey Ettinger, who has been president since 2004. Ettinger will continue to serve as company chairman and chief executive. Snee, who joined the company in 1989, will oversee all business segments and global operations including specialty foods and Jennie-O Turkey Store. Ettinger will head administrative functions including finance, supply chain and research and development. Hormel stock is up 27.4% for the year so far. The S&P is down 1.3% 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.

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From:: Stock Market News

Ferrari shares were trading at $58.18 Wednesday in its debut on the New York Stock Exchange, above the IPO issue price of $52. The company had previously set an IPO range price of $48 to $52 and will list about 10% of its shares. Fiat Chrysler owns 90% of Ferrari, but plans to spin off the other 80% to its shareholders next year. Ferrari itself will not receive any of the proceeds.

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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From:: Stock Market News

U.S. stocks opened higher on Wednesday as deal news and an expected market debut of Ferrari lifted sentiment. Investors continued to take in a barrage of earnings reports, including results from General Motors , Boeing Co and Coca-Cola . The S&P 500 opened 7 points, or 0.3%, higher at 2,037. The Dow Jones Industrial Average rose 50 points, or 0.3%, to 17,275. The Nasdaq Composite began the day up 21 points, or 0.4%, at 4,902.

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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From:: Stock Market News