Category: Uncategorized

By Brian Bandell

The repossessed Trafalgar Plaza office building in Fort Lauderdale sold for $7.3 million to the same buyer that purchased a related building out of foreclosure two months prior.

Sperry Van Ness Commercial Realty’s Keith Kidwell, Les Byron Jr. and Steve Davis represented buyer RMS Properties in both transactions.

In 2014, a commercial mortgage-backed securities (CMBS) trust called DMARC 2006-CD2 Broward Facilities seized two Fort Lauderdale office sites from Cabot Investment Properties by foreclosing… …read more

From:: biz journal foreclosures

U.S. stocks ended lower Friday, as weakness in the energy sector outweighed modest gains elsewhere. Earlier, a closely watched measure of employment costs decelerated in the second quarter, sparking hopes that the Federal Reserve may delay rate hikes this year. Analysts pointed out that weak wage growth is a symptom of slowing growth, which does not bode well for corporate earnings. The main indexes recorded modest weekly and monthly gains. The S&P 500 closed 4.71 points, or 0.2%, lower at 2,103.90. The index ended July roughly at the same level it finished in May, erasing all of the previous month’s losses. The weekly gain for the benchmark stood at 1.2%, while it booked a 2% gain over the month. The Dow Jones Industrial Average slipped 55.32 points, or 0.3%, to 17,690.66, but ended the week with a gains of 0.7% and booked a 0.4% gain over the month. The Nasdaq Composite ended the session less than a point lower at 5,218.28. The tech-heavy index rose 0.8% over the week and 2.9% over the month.

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

Crude-oil futures closed lower Friday, with West Texas Intermediate crude for September delivery giving up $1.40, or roughly 2.9%, to settle at $47.12 a barrel. Already under pressure, oil futures extended declines after oil-services firm Baker Hughes said the number of U.S. oil rigs rose by five to 664, oil-services firm Baker Hughes reported. Compared with the same time last year, the number of U.S. rigs has fallen by 909, the firm said. West Texas Intermediate oil posted its worst monthly decline of 2015, down 21%. September Brent [UK:LCOU5] also ended lower, shedding 10 cents at $52.21. Brent posted a monthly decline of 18%.

Oil futures extended a decline in the wake of the data, with September WTI crude on Nymex CLU5, -1.96% down $1.22, or 2.5%, at $47.30 a barrel.

clk5 rising $2.49, or 5.2%, to close at $50.09 a barrel. Oil futures were lifted by U.S. Energy Information Administration data that showed a small decline in domestic oil production in the week ended March 27 and a larger-than-expected drop in gasoline inventories.

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 Brian Bandell

The historic Comeau Building in West Palm Beach was acquired out of foreclosure for $12 million.

The 104,404-square-foot office building at 319 Clematis Street is on the U.S. National Register of Historic Places. It was built in 1925 and was named for entrepreneur Alfred J. Comeau.

The building was lost in foreclosure in 2010 over a $13.4 million mortgage with a collateralized debt obligation fund. The winning bid at the foreclosure auction was $4.5 million by Comeau SPE LLC, an affiliate of the… …read more

From:: biz journal foreclosures

Shares of Twitter Inc. posted sharp losses this week in the wake of its quarterly earnings, putting the stock on course for its biggest weekly drop since early May. Twitter on Wednesday reported above-estimate second-quarter earnings and a robust rise in revenue but shares have been pummeled by investors disappointed over the company’s inability to better grow users. Shares of the microblogging company are off 1.2% to $31.07, for a weekly loss of 12% with slightly over an hour until the closing bell. At its current pace, the stock is poised for its biggest weekly fall since early May when the company’s first-quarter results sparked a big selloff in shares.

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 Alyssa Sparacino

Did the latest High/Low Challenge leave you stumped? Or did it just solicit some online shopping for a pair of X-benches? The nailheads are arranged in a cool decorative pattern on the left bench. And hundreds of nailheads tightly trim this classic version on the right. (Find buying info for these sweet deals and many more in the latest issue of HGTV Magazine out Tuesday!)

Did you answer correctly? If so, you could be taking home prizes that include an HGTV Magazine hot/cold travel food container, an HGTV Magazine umbrella and of course, the new September issue. The winner will be notified by email shortly, but thanks to everyone who played. Come back next time to try your design luck again.

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From:: HGTV

The number of U.S. oil rigs rose by five this week to 664, oil-services firm Baker Hughes reported Friday. Compared to the same time last year, the number of U.S. rigs has fallen by 909, the firm said. Oil futures extended a decline in the wake of the data, with September WTI crude on Nymex down $1.22, or 2.5%, at $47.30 a barrel.

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

Trading in Greek stocks will will reopen on Monday, Aug. 3, the Athens Stock Exchange said late Friday. The Athex Composite was halted for trade in late June after Prime Minister Alexis Tsipras called a referendum on the country’s bailout terms. The stock exchange said in the statement on Friday it has proposed to the Hellenic Capital Market Commission that it resume clearing and settlements for all securities traded on the Greek markets.

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) — Consumer sentiment fell to a final July reading of 93.1 from a final June level of 96.1, according to reports on the University of Michigan gauge released Friday. A preliminary July reading estimated sentiment at 93.3. Economists polled by MarketWatch had expected a final July figure of 94. Economists follow readings on confidence to look for clues about consumer spending, the backbone of the economy. For context, the consumer-sentiment gauge averaged 86.9 over the year leading up to the recession.

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) — Chicago PMI rose in July to the highest level since January, suggesting a pickup in business during the summer. MNI Indicators said the index climbed to 54.7 points in July from 49.4 in June. This is the last of the regional manufacturing gauges before the release of the national Institute for Supply Management poll on Monday.

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