A10 Networks shares drop as revenue forecast cut

A10 Networks Inc. shares dropped in the extended session Tuesday after the network software company cut its revenue outlook for the quarter. A10 shares dropped 17% to $6.05 after hours. The company forecast fourth-quarter revenue of $55.5 million to $56 million, down from its prior forecast range of $64 million to $67 million. A10 expects earnings of 5 cents to 6 cents a share, compared with a previous estimated range of 1 cents to 7 cents a share. Analysts surveyed by FactSet had estimated earnings of 3 cents a share on revenue of $65.1 million. “We are disappointed with our revenue results for the quarter, which were below our guidance primarily due to a shortfall in North America sales as we experienced lower than expected seasonal demand trends in the region,” said Lee Chen, A10 president and chief executive, in a statement.

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From:: Stock Market News

CSX shares rise after railroad company’s earnings beat expectations

Shares of CSX Corp. rose 1.5% late Tuesday after the railroad company reported adjusted earnings above Wall Street expectations. CSX said it earned $4.1 billion, or $4.62 a share, in the fourth quarter, compared with $458 million, or 49 cents a share, in the year-ago period. The net earnings included a $3.6 billion tax reform benefit and a $10 million restructuring charge, the company said. Adjusted for these and other items, CSX earned $573 million, or 64 cents a share. Sales reached $2.86 billion, from $3.04 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 56 cents a share on sales of $2.88 billion. The stock ended the regular trading session down 1.9%.

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From:: Stock Market News

U.S. stock rally sputters as Dow fails to hold 26,000

Stock indexes shed their earlier gains on Tuesday to end slightly below break-even levels. The S&P 500 fell 10 points, or 0.3%, to 2,777, according to preliminary figures. The Dow Jones Industrial Average declined 10 points to 25,793. The Nasdaq Composite Index was down 37 points, or 0.5%, to 7,234. The Dow gave up most of its advance that had taken the blue-chip index above 26,000 for the first time.

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From:: Stock Market News

Housing and Tax Reform: Where Could the Impact Land?

By Susanne Dwyer

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Homebuyers and homeowners are anticipating fallout from the Tax Cuts and Jobs Act, which has changed homeownership incentives, including the deductions for mortgage interest and state and local taxes.

How deep the effect is hinges on location, according to new research.

With the bill’s new provisions, the mortgage interest deduction (MID) is applicable to loans of up to $750,000 (down from $1 million), and state and local tax (SALT) deductions are limited to $10,000. An analysis conducted recently by HouseCanary, provider of predictive real estate analytics and insights, determined that 82 percent of lost MIDs under the new laws are concentrated in 10 metropolitan statistical areas (MSAs), including four California MSAs and four East Coast MSAs.

All told, 6.4 percent of loans between $750,000 and $1 million could be affected by the changed MID, or $287 million in deductions lost total, the research reveals.

In the case of the deduction of state and local taxes, including property taxes, 66 of the 3,134 counties in the U.S. could be impacted, the research shows. Bearing the brunt could be Boston, Mass., New Jersey and New York, where citizens could depart for lower property taxes in other states.

Thirty-three percent of Americans approve of the Tax Cuts and Jobs Act; 55 percent disapprove, according to a Gallup poll in January. More than 35 percent of respondents to a December realtor.com® survey were “concerned” about homeownership in light of the reform.

For more information, please visit www.housecanary.com.

DeVita_Suzanne_60x60Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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From:: Real Estate News

Help Your Agents Perfect Their Social Media Strategy

By Susanne Dwyer

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NAR PULSE—Back At You Media, the newest partner in the REALTOR Benefits® Program, provides powerful automated marketing to ensure your agents and their listings rise above the noise on social media. Learn about the three different plan options available to members of the National Association of REALTORS®. All have exclusive pricing for members. Learn more.

2018 NAR Member Orientation Video and Digital Materials Available Online
NAR’s 2018 New Member Orientation Materials are now available online for use by brokerages. NAR offers resources and tools to help brokers welcome new agents into the REALTOR® family, and its wealth of benefits and resources. Included is the new 2018 online video about NAR benefits to show at new agent orientation. The member orientation materials, including details about the online module, are available here.

Keep Business Moving With .realtor™
Kick off 2018 by claiming an exclusive .realtor™ domain for your firm and adding G Suite from Google Cloud and Placester®, a REALTOR Benefits® Program Partner, to your toolbelt. Learn more and get started today!

For the latest real estate news and trends, bookmark RISMedia.com.

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From:: Real Estate News

Home Laundry: To Vent or Not to Vent

By Susanne Dwyer

I once believed it was a forgone conclusion that when adding certain laundry appliances to a home, it would mean installing exhaust ducting and cutting a hole to the outside for venting.

However, a recent report from Michele Weaver at Design Basics, LLC highlighted a growing trend in ventless dryers that can be easily located and relocated within a home because vent piping, exhaust holes and venting to the outside are not needed.

The mechanics of a home dryer can cause energy and safety problems if lint becomes trapped in the vent. This demands more energy use and frequent cleaning. Weaver believes one of the major trends consumers will be seeing in these key appliances will be the further refinement of ductless technology.

She says vent hoses snaking through a home’s framing have become a leading cause of the 2,900 (average) home clothes dryer fires reported annually, according to the U.S. Fire Administration.

J.D. Wollf at HomeSteady.com recently explained that a ventless or condenser dryer— also known as a Heat Pump Clothes Dryer (HPCD)—doesn’t need a vent because instead of expelling the hot, moist air, a heat exchanger removes the moisture from the hot air and “recycles” it, passing it back through the drying clothes. The excess water is then drained away or caught in a container that is later emptied.

The trade-off for energy savings and safety is a requirement for slightly more maintenance than vented dryers. Wollf says the condensing unit must be cleaned about once a month to remove any lint.

A study at the Florida Solar Energy Center at the University of Central Florida states that while an unvented HPCD uses less electricity than a standard resistance dryer, it was found to release significantly more heat than a conventional dryer during operation, demanding additional cooling energy that may compromise overall savings.

However, the study points out that with a current retail cost of $948, there is only a small premium on the HPCD dryers, making them cost-effective when chosen at time of replacement.

For the latest real estate news and trends, bookmark RISMedia.com.

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From:: Real Estate News

U.S. shale oil output expected to rise by 111,000 barrels a day in February: EIA

Shale crude-oil production from seven major U.S. oil plays is expected to see a monthly climb of 111,000 barrels a day in February to 6.549 million barrels a day, according to a report from the Energy Information Administration released Tuesday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the largest climb among the big shale plays, with an increase of 76,000 barrels a day. February West Texas Intermediate oil settled on the New York Mercantile Exchange, ahead of the report’s release, at $63.73 a barrel, down 57 cents, or 0.9%.

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From:: Stock Market News

Bon-Ton Stores enters forbearance agreement with lenders after missing $14 million interest payment

Troubled department-store operator Bon-Ton Stores Inc. said Tuesday it has entered forbearance agreements with some of its lenders, after failing to make a $14 million interest payment. The interest payment was due Dec. 15, but the company opted to take a 30-day grace period that has now ended. Under the terms of the forbearance agreements which Bon Ton made with its ABL Credit Agreement lenders and a group of holders of about 75% of the company’s 8.0% second lien secured notes that mature in 2021, lenders have agreed not to exercise any remedies available to them for the missed payment. The agreements expire on Jan. 26, unless further extended. “As previously disclosed, the Company is engaged in ongoing discussions with its debt holders in an effort to strengthen its capital structure to support the business,” Bon-Ton said in a statement. The notes were last trading at 25 cents on the dollar, according to trading platform MarketAxess, but that was 9 points higher than their trading level on Friday. Shares, which trade over-the-counter, were down about 31% on Tuesday.

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From:: Stock Market News

Oil prices settle lower for first time in 6 sessions

Oil prices settled lower Tuesday, giving up their highest levels in about three years as the market took a break from a rally that lifted prices for five-consecutive sessions through Friday. Analysts generally expect the Energy Information Administration to report a decline in U.S. crude supplies, but the agency’s report won’t be released until Thursday, a day later than usual because of Monday’s Martin Luther King Jr. holiday. February West Texas Intermediate crude fell 57 cents, or 0.9%, to settle at $63.73 a barrel on the New York Mercantile Exchange.

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From:: Stock Market News

Justice Department says it will petition Supreme Court to review DACA lawsuit

The Justice Department on Tuesday said it’s filed an appeal against a case brought by the state of California, and is seeking a direct review in the U.S. Supreme Court, after a federal judge blocked the Department of Homeland Security’s decision to rescind the Deferred Action for Childhood Arrivals program. “It defies both law and common sense for DACA-an entirely discretionary non-enforcement policy that was implemented unilaterally by the last administration after Congress rejected similar legislative proposals and courts invalidated the similar DAPA policy-to somehow be mandated nationwide by a single district court in San Francisco,” said Attorney General Jeff Sessions, in a statement.

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From:: Stock Market News