Foreclosures | Mortgages | Financing
Folio, a Google Chrome extension that helps real estate agents manage all parts of a real estate deal from within their email, is currently used in approximately 5% of the nation’s real estate deals. But that percentage could soon grow, as the Amitree, the company that makes Folio, recently raised more than $7 million to fund the company’s growth. …read more
From:: Real Estate Wire
Shares of Foot Locker Inc. fell more than 2% late Monday after competitor Finish Line Inc. warned of lower profits. Shares of Nike Inc. were down 1.4% in late trading. Both stocks ended the regular session down less than 1%. Finish Line said earlier Monday its per-share earnings in the third quarter will come below Wall Street expectations and predicted a decline in sales and profit for the year amid a drop in sales in the first half of the year. Footwear retailers earlier this month were dogged by a rash of analyst downgrades following concerns about changing consumer preferences and deep promotions. Finish Line shares were down more than 23%.
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.
From:: Stock Market News
North Korea fired a ballistic missile that apparently flew over northern Japan, according to reports late Monday. The South Korean military confirmed the missile launch, and Japan’s government said it passed through Japanese airspace over the island of Hokkaido around 6 a.m. local time before splashing into the ocean. Japanese officials had issued a warning to local residents to seek shelter as a precaution. U.S. military officials told NBC News that it was the first time a North Korean missile test on a high-altitude trajectory passed over Japan. It was the 12th ballistic missile test by North Korea so far this year.
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.
From:: Stock Market News
Over the last few months, New Residential Investment significantly increased its mortgage servicing rights portfolio through a deal with Ocwen Financial. But that’s not the only new connection between Ocwen and New Residential, as a company that has a close relationship with Ocwen just inked a new deal with New Residential – Altisource Portfolio Solutions. …read more
From:: Real Estate Wire
Finish Line Inc. shares tanked late Monday following a halt as the company warned its per-share earnings will come well below Wall Street expectations and predicted a steep decline in sales and profits for the year. The footwear retailer said its net sales were $469.4 million in the second quarter, down 3.3% compared with the year-ago period, thanks to a 4.6% decrease in comparable sales. “Based on the decline in sales and pressure on gross margin from increased markdowns,” the company expects to report second-quarter earnings per share in the range of 8 cents to 12 cents, it said in a statement. Analysts polled by FactSet expect second-quarter earnings of 37 cents a share on sales of $477 million. “The marketplace for athletic footwear became much more promotional as our second quarter progressed resulting in challenging sales and gross margin trends,” Chief Executive Sam Sato said. Based on the results so far this year and the expectation margin trends will “remain challenging” through the year, Finish Line said it expects comparable sales to decrease 3% to 5%, versus a previous guidance of an increase in the low-single digits. Adjusted earnings per share are seen in the range of 50 cents to 60 cents for fiscal 2018, versus a previous guidance range of $1.12 to $1.23 a share, and compared with adjusted earnings per share of $1.06 for the fiscal year ended in February. “We believe it is prudent to adjust our outlook as we expect the environment to remain highly competitive and promotional throughout the remainder of the year,” Sato said. “In light of our disappointing second-quarter results and revised projections for fiscal 2018, we will remain very disciplined in managing our expenses and inventories throughout the remainder of the year.” The shares ended the regular trading session down 2.3%. Finish Line is scheduled to report earnings on Sept. 22.
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.
From:: Stock Market News
The U.S. Department of Housing and Urban Development announced it is extending disaster relief efforts to some homeowners in the Houston area. HUD Secretary Ben Carson urged the nation to put aside its differences and focus all efforts on helping those affected by the hurricane. …read more
From:: Real Estate Wire
President Donald Trump said Monday the U.S. would probably have to start “the termination process” of the North American Free Trade Agreement in order to get what he called a good deal. Speaking to reporters during a White House news conference, Trump said Mexico has been “very difficult” during re-negotiation talks that include the U.S. and Canada. Trump made a similar comment about possibly terminating the deal on Twitter on Sunday.
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.
From:: Stock Market News
Western Digital Corp. announced Monday afternoon that it has acquired the assets of startup Upthere, an app-based cloud-storage offering meant to challenge services like Dropbox. Terms of the deal were not announced. Western Digital, known for storage hardware, will incorporate the Upthere services into its consumer offerings and place Barbara Nelson in charge of its cloud services division. UpThere received $77 million in venture funding in July 2016, led by Western Digital’s capital-investment arm and well-known Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers. Upthere, which counts two former Apple executives among its co-founders, wanted users to upload content such as photos, music, documents and more to their platform and access them from anywhere. Another Apple veteran, Chris Bourdon, was acting as chief executive at Upthere and will join Western Digital as a “strategic leader.” Western Digital shares did not move in late trading after the announcement Monday, but have gained more than 33% so far this year, beating the S&P 500 index’s gain of 9.1% in that time.
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.
From:: Stock Market News
Finish Line Inc. shares were halted late Monday as the company warned its per-share earnings will come well below Wall Street expectations and predicted a steep decline in sales and profits for the year. The footwear retailer said its net sales were $469.4 million in the second quarter, down 3.3% compared with the year-ago period, thanks to a 4.6% decrease in comparable sales. “Based on the decline in sales and pressure on gross margin from increased markdowns,” the company expects to report second-quarter earnings per share in the range of 8 cents to 12 cents, it said in a statement. Analysts polled by FactSet expect second-quarter earnings of 37 cents a share on sales of $477 million. “The marketplace for athletic footwear became much more promotional as our second quarter progressed resulting in challenging sales and gross margin trends,” Chief Executive Sam Sato said. Based on the results so far this year and the expectation margin trends will “remain challenging” through the year, Finish Line said it expects comparable sales to decrease 3% to 5%, versus a previous guidance of an increase in the low-single digits. Adjusted earnings per share are seen in the range of 50 cents to 60 cents for fiscal 2018, versus a previous guidance range of $1.12 to $1.23 a share, and compared with adjusted earnings per share of $1.06 for the fiscal year ended in February. “We believe it is prudent to adjust our outlook as we expect the environment to remain highly competitive and promotional throughout the remainder of the year,” Sato said. “In light of our disappointing second-quarter results and revised projections for fiscal 2018, we will remain very disciplined in managing our expenses and inventories throughout the remainder of the year.” The shares ended the regular trading session down 2.3%. Finish Line is scheduled to report earnings on Sept. 22.
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.
From:: Stock Market News
Abiomed Inc. said late Monday its Chief Financial Officer Michael Tomsicek resigned last Thursday. The heart-pump maker said Tomsicek left to pursue other interests. Abiomed said former CFO Robert Bowen will return from retirement to serve as a consultant until a new CFO can be hired, while Corporate Controller Ian McLeod will serve as interim CFO. Abiomed shares rose 0.7% to $149 after hours.
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.
From:: Stock Market News