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Martin Shkreli jailed over Facebook posts threatening Hillary Clinton

Martin Shkreli was jailed late Wednesday after a federal judge revoked his bail after the notorious “pharma bro” offered a bounty last week for locks of Hillary Clinton’s hair. Judge Kiyo Matsumoto’s ruling came after prosecutors argued Shkreli was a danger to the public, citing repeated online threats and harassing comments. On Tuesday, Shkreli apologized for the since-deleted Facebook posts in which he offered $5,000 for strands of Clinton’s hair. While he claimed it was a joke, the Secret Service took it seriously and opened an inquiry into the matter. In August, Shkreli was convicted of defrauding hedge-fund investors, and faces up to 20 years in prison. His sentencing is scheduled for January.

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From:: Stock Market News

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Is major RESPA battle between Zillow and CFPB imminent?

More than a month has gone by since Zillow last gave an update on the Consumer Financial Protection Bureau’s investigation into its practices. The silence is enough to cause at least one analyst to question the likelihood the two parties will be able to reach a settlement. And if no settlement is reached, the industry should ready itself for one of the biggest RESPA battles to date. …read more

From:: Real Estate Wire

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M.I. Firms Integrate With LOS

Two mortgage insurance companies have integrated with two loan origination systems, while a correspondent aggregator implemented an LOS. Meanwhile, data from a reverse mortgage LOS indicates significant growth in that market.

A new SmartAPI developed by MeridianLink has made Fannie Mae’s Day 1 Certainty available to LendingQB users, an Aug. 31 news release indicated. A new verifications dashboard enables users to manage individual orders and know when they are completed.

Ventana Home Mortgage LLC, a recently formed non-QM conduit aggregator, is utilizing OpenClose’s correspondent module, an announcement indicated. Ventana’s more than 100 lender-clients can electronically submit loans for swift review and acceptance.

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From:: Financing

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Array BioPharma shares slide on secondary offering announcement

Array BioPharma Inc. [S: ARRY] shares fell in the extended session Wednesday after the drug developer announced a secondary offering of its shares. Array shares fell 7.9% to $9.70 after hours. The company said it plans to offer $175 million in shares, with an additional $26.3 million to cover overallotments. Based on Wednesday’s closing price of $10.53, the offering including overallotments would represent about 19.1 million shares. Array has 171.4 million shares outstanding. J.P. Morgan Securities, Cowen & Co., and Piper Jaffray are listed among the bookrunners for the offering.

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From:: Stock Market News

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Vanda Pharma shares decline as goal of itch drug study not reached

Vanda Pharmaceuticals Inc. shares fell in the extended session Wednesday after the biotech drug developer said a study of its treatment for a type of eczema did not reach the stated goal. Vanda shares fell 6.7% to $15.86 after hours, following a brief halt in trading. The company said a mid-stage clinical study of its drug tradipitant showed that while the drug showed improvement in itching in patients with atopic dermatitis compared with a placebo, the results were not statistically significant.

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From:: Stock Market News

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Tenet shares jump after report of possible sale

Tenet Healthcare Corp. is exploring strategic options including a possible sale of the big hospital company, according to a report Wednesday by The Wall Street Journal, citing people familiar with the matter. The company has hired bankers to look at its options, and the process is in the early stages, the report said. The hospital chain’s shares rose more than 14% in late trading, after ending the regular session down 5.3%. Tenet has battled pressure from activist shareholders, and last month CEO Trevor Fetter announced he’ll step down in March.

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From:: Stock Market News

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CFIUS blocks sale of Lattice Semiconductor to Canyon Bridge Fund

The Committee on Foreign Investment in the United States blocked the sale of Lattice Semiconductor to a group of Chinese investment funds. Canyon Bridge had agreed to buy Lattice for $1.3 billion. “The national security risk posed by the transaction relates to, among other things, the potential transfer of intellectual property to the foreign acquirer, the Chinese government’s role in supporting this transaction, the importance of semiconductor supply chain integrity to the U.S. government, and the use of Lattice products by the U.S. government,” the statement says.

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From:: Stock Market News

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Oracle shares close at record a day before earnings release

Oracle Corp. shares closed at a record high Wednesday, their third in as many sessions, the day before the enterprise software giant reports quarterly earnings late Thursday. Oracle shares rose less than 0.1% to close at $52.80, after touching an all-time intraday high of $52.98, on volume of 13.8 million shares, slightly higher than the 52-week average daily volume of 12.6 million shares. Shares have crept to record highs following a 1.8% surge on Monday. Shares are up 37% for the year, compared with the 20% rise on the Nasdaq Composite Index .

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