NetApp Inc. beat financial expectations in the first quarter after its CEO stepped down, and the stock shot higher in late trading Wednesday. The data-storage company reported a loss of $30 million, or 10 cents a share, on revenue of $1.34 billion. After adjustments for stock-based compensation and other factors, NetApp claimed a profit of 29 cents a share. Analysts polled by FactSet expected NetApp to report adjusted profit of 23 cents a share on sales of $1.32 billion. NetApp announced the departure of CEO Tom Georgens on June 1, as the company struggled to find customers for its data-storage products amid a shift to cloud storage and a host of next-generation storage competitors. After beating expectations with Wednesday’s earnings report, NetApp stock skyrocketed 13% early in the extended session, topping $33.50 after closing with a 1.7% decline at $29.78.

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

By Corey Noles An O’Fallon, Missouri, real estate developer is having a property auctioned off as part of a $166,890 foreclosure.

Paradigm Homes LLC is owned by Sheree Yallaly and Rich Coulter, according to city of St. Louis property records. The property to be auctioned is a five-bedroom, four-bathroom townhouse-style duplex of about 3,372 square feet located at 3300 Lemp Ave. in St. Louis. Trident Realty Investments of Dallas holds the note on the property.

Paradigm purchased the property in August 2014 for… …read more

From:: biz journal foreclosures

By Corey Noles

A bankrupt development company has officially lost a Chesterfield property intended to be the home of a new senior living facility.

The property, located at 17655-17659 Wild Horse Creek Road in Chesterfield Valley, was recently sold at auction for $1.1 million. Providence Bank, the holder of the original lien, was the buyer.

The land was owned by Vision Ventures LLC, a company led by Principal Rodney Henry of O’Fallon, Missouri. The company filed for Chapter 11 bankruptcy in March 2015 which… …read more

From:: biz journal foreclosures

Oil futures on Wednesday suffered a loss of more than 4% after U.S. government data showed an unexpected increase in weekly crude-oil supplies. September crude dropped $1.82, or 4.3%, to settle at $40.80 a barrel on the New York Mercantile Exchange. The September contract expires on Thursday.

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From:: Stock Market News

Treasury yields declined Wednesday afternoon after an early release of the minutes from the Federal Reserve’s July meeting gave no clear tip towards a September interest-rate increase. But the minutes did not rule out a September rate hike. Most policy makers thought economic conditions needed for a rate hike were “approaching,” the minutes showed. Treasury yields had already been declining ahead of the release and fell further afterwards, with the 10-year Treasury yield trading down 5.3 basis points on the day at 2.143%. The 2-year yield fell 6.1 basis points to 0.657% and the 30-year yield declined 2.3 basis points to 2.842%.

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From:: Stock Market News

The dollar fell below 124 yen for the first time in a week Wednesday after minutes from the July meeting of Federal Reserve policy makers revealed that they might not be ready to raise interest rates. The minutes, which were published ahead of their scheduled 2 p.m. Eastern release time, showed policy makers were concerned that inflation remained stubbornly below target. Some also expressed concerns about the impact slowing growth in China might have on the U.S. The dollar recently traded at 123.90 yen from 124.30 shortly beforehand. The euro rose to $1.1111 from $1.1050. The pound rose to $1.5689 from $1.5660.

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From:: Stock Market News

WASHINGTON (MarketWatch) – Most Federal Reserve officials thought economic conditions needed for a rate hike were “approaching,” according to minutes from the July meeting released Wednesday that suggested that a September rate hike was a live option. By a 10 to 0 vote, the Fed on July 29 kept rates between zero and 0.25%, where they have been since December 2008. But the undercurrent of the discussion showed broad support for an increase in interest rates. Supporters of a rate hike made several arguments including that an appreciable delay in a tightening monetary policy would spark inflation or financial instability. A minority of Fed officials counseled patience, noting that there were no grounds to think inflation would move back to the 2% annual target, particularly because of the strong dollar and recent drop in crude oil prices. The minutes were released early after a news outlet broke the 2 p.m. Eastern embargo.

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) — Most Federal Reserve officials thought the satisfaction of the economic conditions required for an interest-rate hike were “approaching,” according to minutes from the July meeting released Wednesday. The meeting minutes suggested that a September rate hike was a live option. By a 10-0 vote, Fed policy makers on July 29 decided to keep rates between zero and 0.25%, where they have been since December 2008. But the undercurrent of the discussion showed broad support for an increase in interest rates. Supporters of a rate hike made several arguments, including that an appreciable delay in a tightening monetary policy would spark inflation or financial instability. A minority of Fed officials counseled patience, noting that there were no grounds to think inflation would move back to the 2% annual target, particularly because of the strong dollar and recent drop in crude-oil prices. The minutes were released early after a news outlet broke the 2 p.m. Eastern time embargo.

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) – The International Monetary Fund on Wednesday announced that it has extended its current Special Drawing Rights basket of currencies for nine months, effectively giving China more time to comply with conditions needed to join an elite club of reserve currencies along with the U.S. dollar, euro, yen and British pound. China has been pushing to join the SDR basket and the IMF staff recently recommended the delay, saying more work was needed before China could join. The IMF decision puts off any changes to the basket until October 2016. The IMF has already said China’s recent move to allow the yuan’s value to be influenced by the market was one step on the road to becoming a reserve currency. The yuan depreciated when the People’s Bank of China announced the move earlier this month, leading to criticism that it was engaging in a currency war. The IMF board said it will still discuss the composition of its SDR basket later this year.

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From:: Stock Market News

By Chelsea Faulkner

When I was a kid, I looked forward to the beginning of the school year for one reason: new school supplies. The crisp feel of a new backpack and the smell of freshly sharpened pencils was like Christmas morning in August. But as an adult, I rarely spend money on new office supplies. Why purge perfectly good pencils for new ones just because? As it turns out, I don’t have to buy new stuff to get that “first day of school” rush—there are tons of ways to make over my drab workspace this fall by simply upcycling what I already have. Check out a few of my favorite DIY office supply refreshes and start this school (work) year off with a hypothetical backpack full of goodies.

DIY Suede & Gold Leaf Mousepad

Chelsea at the Lovely Indeed blog gave her old, worn-out mousepad a refresh with chic suede fabric and gold leaf polka dots. Make your own with her easy step-by-step instructions >>

Get more office supply upcycling tips >>

Bar Cart Office Organizer

Complete with multiple levels and wheels, a cute bar cart is the perfect workspace storage solution. Roll it under your desk to maximize space or turn the top into a portable coffee station. Check out more small home office ideas >>

Easy DIY Quote Art

Surrounding yourself with motivational words or phrases keeps the creative juices flowing long after the coffee has worn off. Take a cue from the crafting experts at HGTV Magazine and turn an old, tired painting into fun, inspirational word art for your desk or home office. Get the step-by-step instructions here >>

This DIY paper wreath would also be a great fall addition to your office space >>

DIY Stamped Notebooks

Perfect for brainstorming, keeping appointments and remembering important points, a good notebook is an office essential. Give your plain notebooks a chic update with this fun DIY stamp and paint project from Darby Smart. Bonus: You get to make your own stamps. Get the step-by-step instructions here >>

Copper & Wood Magazine Rack

Another genius DIY idea from Darby Smart, this wood and copper magazine rack is super simple to make and can be customized with your fabric of choice. Get the step-by-step instructions here >>

DIY Desk Accessories

<img alt="DIY Desk …read more

From:: HGTV