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CoreLogic’s acquisition of Mercury Network is now complete. When CoreLogic announced the Mercury Network deal back in June, the company said that it already acquired a 45% passive minority stake in Mercury Network and planned to purchase the remaining 55% later this year. As it turns out, “later this year” turned out to be August 10th. …read more
From:: Real Estate Wire
Nvidia Corp. shares plunged 4.2% in after-hours trading Thursday, after the graphic processing unit (GPU) designer beat expectations for earnings and sales. In the second-quarter, the company logged earnings of 92 cents a share on revenue of $2.23 billion, up 56% from the same quarter last year. Analysts had modeled EPS of 70 cents, and sales of $1.96 billion, according to FactSet. Nvidia has beaten the FactSet consensus for earnings the last eight quarters in a row. Executives issued third-quarter sales guidance of $2.35 billion, with a two percent margin of error, while analysts modeled revenue of $2.1 billion, according to FactSet. Nvidia stock has nearly tripled in the past year, gaining 183% as the S&P 500 index has gained 11.7%.
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
Shares of Snap Inc. were falling 4% after hours Thursday after the company missed second-quarter earnings expectations and reported weaker-than-expected user numbers. Snap reported a net loss of $443 million, or a loss of 36 cents per share, wider than a loss of $115.9 million, or a loss of 14 cents per share, in the year-earlier period. The FactSet consensus was for a loss of 30 cents. Revenue was $181.6 million, up from $71.8 million in the year-earlier period, but below the FactSet consensus of $186.2 million. Snap reported 173 million daily active users, a 4% increase from last quarter, and below the FactSet consensus of 175 DAUs. Average revenue per user was $1.05, up 16% from the previous quarter, but also below the FactSet consensus of $1.07. Shares of Snap have fallen 40% in the past three months, while the S&P 500 has gained 1.6%.
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 online real estate industry is on fire, as businesses in the industry keep announcing new growth initiatives right as other companies announce they want in on the untapped potential. So where does Nextdoor, a social network for neighborhoods, which recently launched a new section for real estate, see itself in this new growth? Nirav Tolia, co-founder and CEO of Nextdoor, answers in an interview with HousingWire. …read more
From:: Real Estate Wire
U.S. stocks declined on Thursday, marking the first time since April that all main indexes fell in unison for a third session as elevated tensions with North Korea weighed on sentiment. The U.S. and the Asian country continued to trade verbal threats with Pyongyang detailing plans to strike at Guam, a U.S. territory. The S&P 500 dropped 35 points, or 1.5%, to close at 2,438
and the Dow Jones Industrial Average fell 203 points, or 0.9%, to end at 21,845. The Nasdaq Composite Index slid 135 points, or 2.1%, to close at 6,216.
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
Shares of live event company and Ticketmaster owner Live Nation Entertainment Inc. took a negative turn in afternoon trade after a Reuters report that Amazon.com Inc. was seeking partners to launch into live-event ticketing. Shares of Live Nation, which had been up 12.5% from Wednesday’s close after posting positive second-quarter earnings, swung to a more than 3% loss before bouncing back. Live Nation’s Ticketmaster is the juggernaut in the live event ticketing landscape. Ebay Inc. , which owns StubHub, swung to a 3% loss after the report. Shares of Live Nation are up 48% in the year to date, while Amazon shares are up nearly 28% and Ebay shares are up almost 18%. By comparison, the S&P 500 index is up 9% in the 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
Mortgage rates dove to another low this week, with the 30-year, fixed rate averaging 3.90 percent, down from 3.93 percent the week prior, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate averaged 3.18 percent, the same from the week prior, while the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.14 percent, down from 3.15 percent the week prior.
“After holding relatively flat last week, the 10-year Treasury yield fell four basis points this week,” says Sean Becketti, chief economist at Freddie Mac. “The 30-year mortgage rate moved in tandem with Treasury yields, dropping three basis points to 3.90 percent. Earlier this week, Federal Reserve officials highlighted the influence of continued weak inflation data on rates.”
Source: Freddie Mac
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The post Mortgage Rates Dive to Another Low appeared first on RISMedia.
From:: Finance and Economy
Mortgage rates dove to another low this week, with the 30-year, fixed rate averaging 3.90 percent, down from 3.93 percent the week prior, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate averaged 3.18 percent, the same from the week prior, while the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.14 percent, down from 3.15 percent the week prior.
“After holding relatively flat last week, the 10-year Treasury yield fell four basis points this week,” says Sean Becketti, chief economist at Freddie Mac. “The 30-year mortgage rate moved in tandem with Treasury yields, dropping three basis points to 3.90 percent. Earlier this week, Federal Reserve officials highlighted the influence of continued weak inflation data on rates.”
Source: Freddie Mac
For the latest real estate news and trends, bookmark RISMedia.com.
The post Mortgage Rates Dive to Another Low appeared first on RISMedia.
From:: Real Estate News
Benchmark Capital Partners, an investor in Uber Technologies Inc., has sued Uber’s former chief executive Travis Kalanick for breach of duty. The complaint, which was filed Thursday in the Delaware Chancery Court, centers on the fact that Kalanick was able to name three new voting directors to Uber’s board in 2016, expanding the number of voting directors from eight to 11. Kalanick took one of those seats after his resignation, but the other two have yet to be filled. When approving the expanded number of seats, Benchmark said Kalanick concealed “gross mismanagement,” including company harassment issues as well as the acquisition of self-driving truck startup, Otto, which is now at the center of a lawsuit with Alphabet Inc. . Benchmark said it would not have approved the three seats, had it known about these issues, and that Kalanick used the seats to gain power knowing that he could be removed. Kalanick recently resigned from Uber, but has reportedly been trying to come back to the company. “Kalanick’s overarching objective is to pack Uber’s board with loyal allies in an effort to insulate his prior conduct from scrutiny and clear the path for his eventual return as CEO,” the complaint says. Benchmark is asking for an invalidation of that stockholder vote, which would get rid of those three seats and also remove Kalanick from the board. Before that, it is asking the court for preliminary injunction against Kalanick participating, voting or having a say in board matters.
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
A new tool helps mortgage-banking firms with the daunting task of monitoring their loan origination staffs’ use of social media and regulatory compliance.
With the intense level of mortgage regulation that is in place today, there is a high risk of unintentional mistakes made with social media.
As a result of such possible errors, there is a high potential for residential lenders that utilize social media to face unnecessary financial risk.
From:: Financing