RealPage continues expanding, agrees to buy On-Site for $250 million

This year really is turning out to a year of expansion for RealPage, as for the fourth time in 2017, RealPage, a provider of software and data analytics to the real estate industry, announced that it is is acquiring another company. RealPage announced Wednesday that it is acquiring “substantially all of the assets” of On-Site Manager for approximately $250 million in cash. That brings RealPage’s total expansion expenditures for 2017 to just shy of $700 million. …read more

From:: Real Estate Wire

Sturm Ruger shares fall after big earnings miss

Sturm Ruger & Co shares dropped in the extended session Wednesday after the gun maker’s quarterly results fell below Wall Street estimates. Sturm Ruger shares sunk 13% to $50.10 after hours. The company reported second-quarter net income of $10.2 million, or 57 cents a share, compared to $23.5 million, or $1.22 a share, in the year-ago period. Revenue fell to $131.9 million from $167.9 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $1.11 a share on revenue of $159.6 million. In a statement, the company cited softer demand in 2017 “due to stronger-than-normal demand during most of 2016, likely bolstered by the political campaigns for the November 2016 elections.” Following Sturm Ruger’s results, shares of Smith & Wesson parent American Outdoor Brands Corp. declined 5.9% to $19.80 after hours.

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From:: Stock Market News

Private equity firm Thomas H. Lee Partners acquires majority interest in Ten-X

Ten-X, the company formerly known as Auction.com, has experienced significant growth ever since the company received a $50 million investment from Google Capital back in March 2014. Now, the company is setting the stage for its next phase. Ten-X announced Wednesday that Thomas H. Lee Partners, a private equity firm, is acquiring a majority stake in the company. Click the headline to read more. …read more

From:: Real Estate Wire

3D Systems shares fall as results, outlook come up short

3D Systems Corp. shares dropped in the extended session Wednesday after the 3D printer company reported quarterly results and an outlook that fell below Wall Street estimates. 3D Systems shares fell 9.4% to $15.42 after hours. The company reported a second-quarter loss of $8.4 million, or 8 cents a share, compared to a loss of $4.6 million, or 4 cents a share, in the year-ago period. Adjusted earnings were 8 cents a share. Revenue rose to $159.5 million from $158.1 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 12 cents a share on revenue of $162.5 million. For the year, 3D Systems estimates earnings to be “approximately flat” on an adjusted basis on revenue of $643 million to $671 million. Analysts had forecast earnings of 51 cents a share on revenue of $661.6 million.

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From:: Stock Market News

Walter Investment to Restructure, Shares Sink

Walter Investment Management Corp. has reached a deal with its biggest banks that includes a restructuring — sending shares of its stock tumbling.

An announcement late Tuesday from the Fort Washington, Pennsylvania-based company indicated that it has entered into a restructuring support agreement.

The agreement is with senior lenders that held more than half of Walter Investment’s loans and commitments outstanding as of July 31.


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From:: Financing

Oclaro shares rise after quarterly results top Street view

Oclaro Inc. shares rose in the extended session Wednesday after the optical communications equipment company topped Wall Street estimates for the quarter. Oclaro shares rallied 6.8% to $9.75 after hours. The company reported fiscal fourth-quarter net income of $56 million, or 33 cents a share, compared to $11.8 million, or 9 cents a share, in the year-ago period. Adjusted earnings were 20 cents a share. Revenue rose to $149.4 million from $125.2 million in the year-ago period. Analysts surveyed by FactSet had estimated 17 cents a share on revenue of $148 million. For the first quarter, Oclaro estimates revenue of $151 million to $159 million. Analysts expect revenue of $154.1 million.

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From:: Stock Market News

MetLife earnings beat estimates

MetLife Inc. reported second-quarter net income of $838 million, or 77 cents per share, up from $64 million, or 6 cents per share, for the same period last year. Adjusted EPS was $1.30, ahead of the $1.28 FactSet consensus. Revenue was $17.2 billion, up from $15.2 billion last year and ahead of the $17.1 billion FactSet consensus. Revenue for premiums during the quarter was $9.9 billion, revenue for universal life and investment-type product policy fees was $2.3 billion, and other revenue was $382.0 million. MetLife shares are unchanged in Wednesday after-hours trading, and up 3% for the year so far. The S&P 500 index is up 10.7% for 2017 so far.

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From:: Stock Market News

AIG’s stock rallies after profit beat

Shares of American International Group Inc. rallied 2.4% in after-hours trade Wednesday, after the insurance company reported a second-quarter profit that beat expectations. Net income rose fell to $1.13 billion, or $1.19 a share, from $1.91 billion, or $1.68 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share rose to $1.53 from $1.15, above the FactSet consensus of $1.20. Consolidated adjusted return on equity improved to 10.5% from 7.9%. Book value per share fell to $81.62 from $83.08, but was above expectations of $81.06. In commercial insurance, net premiums written fell 15%, while the combined ratio increased to 102.7 from 98.3 and operating revenue declined 2% to $5.98 billion. “While market conditions remain challenging, we are committed to disciplined underwriting and are focused on investing in profitable growth,” said Chief Executive Brian Duperreault. AIG’s stock has edged up 0.9% year to date through Wednesday’s close, while the SPDR Financial Select Sector ETF has gained 8.9% and the S&P 500 has climbed 10.7%.

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From:: Stock Market News

Square edges up after second-quarter results beat expectations, outlook raised

Shares of Square Inc. edged up 0.7% in after-hours trading Wednesday, on the digital cash register and financial services firm’s second quarter results, which beat expectations. The company raised its guidance for the full year. Net loss narrowed to $16 million, or four cents a share, compared with $27.3 million or 8 cent loss a share, in the year-earlier quarter. The FactSet consensus was for a per-share-loss of five cents. Total revenue rose 26% to $552 million. Adjusted revenue rose 41% to $240 million, above the FactSet consensus of $228.8 million. Square executives forecast revenue of $223 million to $226 million. The company raised its 2017 adjusted revenue outlook to $925 million to $935 million from $890 million to $910 million, and revised its adjusted earnings per share outlook to 21 cents to 23 cents, from 16 cents to 20 cents. The stock has surged 94% year to date through Wednesday, while the S&P 500 has gained 11%.

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From:: Stock Market News

Symantec shares rise after earnings beat, sale of website security business

Symantec Corp. shares rose in the extended session Wednesday after the cybersecurity company reported earnings that topped Wall Street estimates and said it had sold its website security business. Symantec shares rose 4.6% to $32.35 after hours. The company reported a fiscal first-quarter loss of $133 million, or 22 cents a share, compared to net income of $135 million, or 22 cents a share, in the year-ago period. Adjusted earnings were 33 cents a share. Revenue rose to $1.18 billion from $884 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 31 cents a share on revenue of $1.2 billion. For the fiscal second quarter, Symantec estimates adjusted earnings of 40 cents to 44 cents a share on revenue of $1.26 billion to $1.29 billion. Analysts expect 43 cents a share on $1.27 billion. Separately, Symantec said it sold its website security business to DigiCert for $950 million in cash and a 30% equity stake in DigiCert.

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