Provident warns on profit again; CEO to leave

Provident Financial PLC has issued its second profit warning in recent months after what the U.K. lender described as “substantial deterioration” in the performance of its home credit business. The company said Tuesday that it expects to log a loss between 80 million pounds and £120 million in the third quarter. In June, Provident warned of a £60 million loss for the period. The company said in its trading update Tuesday that it is withdrawing the interim dividend declared on July 25 and signaled that a full-year dividend is unlikely. Provident’s chief executive, Peter Crook, is stepping down with immediate effect. It said debt collections are at 57% compared with 90% in 2016, and sales are £9 million a week lower. The disappointing home credit performance comes after Provident shifted to using full-time “customer experience managers” rather than self-employed agents.

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.

…read more

From:: Stock Market News

Mortgage Production Reports Vary Widely

Reports of mortgage production continue to roll in — with some home lenders achieving new milestones, ranking at the top of their local markets or giving up on the business.

During the 12 months ended June 30, there were 1.5 million purchase-money mortgages closed where the borrower made a less than 10 percent down payment.

The share of low-down-payment loans was the highest in seven years. The widening of the share followed four consecutive years of diminishing high-loan-to-value share.


…read more

From:: Financing

Yahoo to pay $5.5 million for botched billion-dollar bracket contest with Quicken Loans

Three years ago, Quicken Loans created a national uproar when it partnered with Yahoo and Berkshire Hathaway to launch the Billion Dollar Bracket Challenge, a contest involving picking the winners of the NCAA tournament games – all of the winners. No one won the billion dollars in 2014, the contest’s first and only incarnation. But now, three years later, Yahoo will be paying out for the contest, but not for the reason you might think. …read more

From:: Real Estate Wire

RE/MAX and Adwerx Launch Listing Automation

By Beth McGuire

remax-web-ad

RE/MAX, LLC and Adwerx, a provider of localized digital advertising for real estate agents and brokers, have launched a program to run digital ads for new RE/MAX listings from participating regions in the U.S. and Canada. The announcement was made at the RE/MAX Broker Owner Conference on August 21 in San Francisco, Calif.

“RE/MAX has a commitment to provide their affiliates with the best tools, but also understands the challenge of getting affiliates to use them,” said Jed Carlson, CEO of Adwerx. “The Adwerx Scale platform has opened the door for 100 percent adoption, serving the seller, the real estate agent and RE/MAX itself.”

All participating RE/MAX affiliates will be receiving a digital listing advertisement for one week on each new listing starting on September 20 and throughout the rest of the year. Agents with new listings between this time period will receive their own Adwerx account and be able to extend the promotion and build new campaigns.

“Nobody sells more real estate than RE/MAX, as measured by residential transaction sides. So, this potentially translates into hundreds of millions of impressions for our agents’ customers under this new initiative,” said RE/MAX Executive Vice President Mike Ryan. “Adwerx makes it simple and easy to build an online branding campaign that follows consumers across the internet. That type of reach is a ‘game changer’ for both our affiliates and their clients.”

The program is available to participating RE/MAX affiliates through MAX/Center and begins September 20. Learn more at: https://remax.adwerx.com.

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

The post RE/MAX and Adwerx Launch Listing Automation appeared first on RISMedia.

…read more

From:: Finance and Economy

RE/MAX and Adwerx Launch Listing Automation

By Beth McGuire

remax-web-ad

RE/MAX, LLC and Adwerx, a provider of localized digital advertising for real estate agents and brokers, have launched a program to run digital ads for new RE/MAX listings from participating regions in the U.S. and Canada. The announcement was made at the RE/MAX Broker Owner Conference on August 21 in San Francisco, Calif.

“RE/MAX has a commitment to provide their affiliates with the best tools, but also understands the challenge of getting affiliates to use them,” said Jed Carlson, CEO of Adwerx. “The Adwerx Scale platform has opened the door for 100 percent adoption, serving the seller, the real estate agent and RE/MAX itself.”

All participating RE/MAX affiliates will be receiving a digital listing advertisement for one week on each new listing starting on September 20 and throughout the rest of the year. Agents with new listings between this time period will receive their own Adwerx account and be able to extend the promotion and build new campaigns.

“Nobody sells more real estate than RE/MAX, as measured by residential transaction sides. So, this potentially translates into hundreds of millions of impressions for our agents’ customers under this new initiative,” said RE/MAX Executive Vice President Mike Ryan. “Adwerx makes it simple and easy to build an online branding campaign that follows consumers across the internet. That type of reach is a ‘game changer’ for both our affiliates and their clients.”

The program is available to participating RE/MAX affiliates through MAX/Center and begins September 20. Learn more at: https://remax.adwerx.com.

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

The post RE/MAX and Adwerx Launch Listing Automation appeared first on RISMedia.

…read more

From:: Real Estate News

Krystal Biotech seeks to raise up to $35 million in IPO

Krystal Biotech Inc. plans to raise up to $35 million in an initial public offering, according to a Securities and Exchange Commission filing late Monday. The Pittsburgh-based gene therapy company is a developer of treatments for dermatological diseases. With no revenue, Krystal reported a net loss of $1.2 million, or $5.89 a share, for 2016. Ladenburg Thalmann & Co. was listed as the underwriter for the IPO. Krystal intends to list on the Nasdaq under the ticker symbol “KRYS.”

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.

…read more

From:: Stock Market News

Nordson shares fall on outlook after earnings beat

Nordson Corp. shares dropped in the extended session Monday after the industrial machinery company’s outlook fell short of Wall Street estimates despite a beat on quarterly results. Nordson shares fell 9.5% to $113.30 after hours. For the fiscal fourth quarter, Nordson estimates earnings of $1.18 to $1.32 a share. Analysts surveyed by FactSet expect $1.56 a share. The company reported fiscal third-quarter net income of $101.5 million, or $1.74 a share, compared to $84.2 million, or $1.46 a share, in the year-ago period. Adjusted earnings were $1.78 a share. Revenue rose to $589.4 million from $489.9 million in the year-ago period. Analysts had estimated $1.67 a share on revenue of $576.3 million.

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.

…read more

From:: Stock Market News