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Nautilus shares decline after quarterly results fall short of Street view

Nautilus Inc. shares fell in the extended session Monday after the fitness equipment maker’s quarterly results came in below Wall Street expectations. Nautilus shares fell 9.1% to $16 after hours. The company reported second-quarter net income of $2.5 million, or 8 cents a share, compared with $3.5 million, or 11 cents a share, in the year-ago period. Revenue declined to $77 million from $78.5 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 9 cents a share on revenue of $78 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.

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From:: Stock Market News

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Weekly Mortgage Market Index Climbs on Purchases

New mortgage activity was driven higher by home purchase financing this past week. Also significantly improving was government business, which has expanded by nearly a fifth from a year ago.

A reading of 156 was recorded for Mortgage Daily’s U.S. Mortgage Market Index for the week ended July 28. The index provides insight into upcoming originations based on rate-lock volume at OpenClose.

A 3 percent rise in activity from the previous week was recorded for the index, which is not adjusted to reflect seasonal variations. Still, business was down by 11 percent versus the same week in 2016.

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From:: Financing

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HealthSouth report better-than-expected quarterly earnings

HealthSouth Corp. posted better-than-expected earnings, helping its shares to rally briefly in Monday’s extended session. HealthSouth reported its second-quarter earnings fell to $79.4 million, or 70 cents a share, from $81.3 million, or 65 cents a share, a year earlier. On an adjusted basis, the company would have earned 71 cents a share. Net operating revenue increased to $981.3 million from $920.7 million. Analysts surveyed by FactSet had forecast earnings of 67 cents a share on revenue of $976 million. HealthSouth raised the lower end of its 2017 revenue outlook to a range of $3.88 billion to $3.95 billion versus $3.85 billion to $3.95 billion and tightened its adjusted earnings per share target to $2.64 to $2.73 from $2.61 to 2.73. HealthSouth is planning to change its name to Encompass Health Corp. on Jan. 2 and will trade under a new ticker: EHC. Shares are flat in the late session after initially jumping more than 5%.

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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Texas Roadhouse shares up nearly 7% after earnings

Shares of Texas Roadhouse Inc. rose nearly 7% late Monday after the restaurant chain reported second-quarter sales above expectations and per-share earnings in line with forecasts. Texas Roadhouse said it earned $37.6 million, or 53 cents a share, in the quarter, compared with $33.6 million, or 47 cents a share, in the year-ago period. Revenue rose to $566.2 million, from $508.1 million a year ago. Analysts polled by FactSet had expected per-share earnings of 53 cents a share on sales of $563 million. Comparable-restaurant sales rose 4% at company restaurants and 3.6% at domestic franchises, Texas Roadhouse said. The company reiterated its expectations of comparable-restaurant sales growth for the year, as well as food costs deflation between 1% and 2% and total capital expenditures of about $170 million. The shares ended the regular trading session down 0.8%.

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

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GrubHub, Groupon shares rise on food delivery partnership

Shares of GrubHub Inc. and Groupon Inc. both advanced in the extended session Monday after the companies announced a food delivery partnership deal. GrubHub shares rose 3% to $47.50 after hours, while Groupon shares rose 3.7% to $3.90. The partnership will allow Groupon users to order food delivery from GrubHub’s 55,000 participating restaurants and allow them to redeem Groupon deals. Also, GrubHub will acquire 27 of Groupon’s OrderUp food delivery markets under deal terms that were not disclosed.

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

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Biggest Mortgage Lenders Q1 2017

As home lending slowed in the first quarter of this year, credit unions took market share from non-bank originators. Just 10 lenders were responsible for nearly half of overall originations.

Mortgage bankers generated $353 billion in single-family loan originations during the period that started on Jan. 1, 2017, and concluded on March 31.

The total was based on an analysis of production data collected by Mortgage Daily for financial institutions and non-bank home lenders.

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Crude oil ends higher, posts biggest monthly gain of 2017

Oil futures erased earlier losses to close higher Monday, rallying into the final bell, with the U.S. benchmark settling above $50 a barrel. West Texas Intermediate crude for September delivery on the New York Mercantile Exchange rose 46 cents, or 0.9%, to close at $50.17 a barrel. For the month, oil rallied 8.9%, according to FactSet, its biggest monthly gain of 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.

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CFPB issues warning: Don’t trick consumers into using costly pay-by-phone option

Attention financial services companies: If you offer a pay-by-phone option and steer customers to said option unnecessarily, the Consumer Financial Protection Bureau may come knocking. The CFPB said Monday that it is issuing a warning to all companies under its supervision because the agency is concerned about companies “tricking” consumers into using expensive pay-by-phone options. …read more

From:: Real Estate Wire

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Scaramucci removed as White House communications director: New York Times

President Donald Trump has removed Anthony Scaramucci as White House communications director, the New York Times reported Monday. The Times said Trump’s new chief of staff, John Kelly, made the request, according to the report. The decision came just days after Scaramucci started in the job and subsequently gave an expletive-laced interview to the New Yorker magazine.

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