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Key senators say they’ll vote to open debate on health bill

Republican Sens. Dean Heller of Nevada and Rob Portman of Ohio have said they’ll vote yes on a procedural vote to open debate on a Republican health-care bill Tuesday. Republican leaders and President Donald Trump are urging members to begin debating so they can repeal and perhaps replace the Affordable Care Act. It’s not known what would be in a final bill, and Heller said in a statement he would not vote for it if it doesn’t benefit his state.

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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Flagstar’s Home Lending Soars, Could Jump Again

A quarterly leap in mortgage originations at Flagstar Bancorp Inc. is set to repeat in the current quarter. But the primary mortgage servicing portfolio was reduced.

The Troy, Michigan-based financial institution reported in its second-quarter 2017 earnings report that it earned $60 million before income taxes.

While results weakened from $69 million in the same quarter last year, a significant improvement was made versus $40 million earned in the first-quarter 2017.

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From:: Financing

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2Q17 earnings prove recent Flagstar acquisitions paid off big time

The earnings report is out for how Flagstar Bancorp’s two major acquisitions earlier this year fared for the bank, revealing a roadmap on how it hopes to position itself for success in today’s competitive market. Looking over the second-quarter earnings release, the bank outlines its plans for future growth opportunities. These charts break down its long-term mortgage plans. …read more

From:: Real Estate Wire

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Popular financial ETF poised for best daily gain since late June

Financial Select Sector SPDR ETF , an exchange-traded fund that tracks big financial firms listed on the S&P 500 , is poised for its best daily percentage gain since late June as bank stocks soared on Tuesday. The ETF rallied 1.5% to 25.28, spurred on by strong rallies in Citibank Inc. , Bank of America Corp. , J.P. Morgan Chase & Co. , and Morgan Stanley on relatively solid second-quarter earnings. The broader market is also trading higher with the S&P 500 up 10 points, or 0.4% to 2,479, the Dow Jones Industrial Average rising 120 points, or 0.6% to 21,636 and the Nasdaq adding 3 points to 6,413.

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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Fidelity National Financial acquires Real Geeks

It seems that late July is a time to deal making, at least when it comes to Fidelity National Financial.
Nearly one year ago to the day, Fidelity, the nation’s largest title insurance company, announced that it acquired Commissions, Inc., a provider of web-based real estate marketing and CRM software for real estate agents. And Tuesday, just one day shy of the one-year anniversary of the Commissions, Inc. deal, Fidelity announced that it acquired another real estate marketing and CRM provider, Real Geeks. …read more

From:: Real Estate Wire

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Walgreens to bring nearly 500 jobs to Chandler, Arizona as it relocates Tempe support center

Walgreens Boots Alliance Inc. said Tuesday it is bringing nearly 500 jobs to Chandler, Arizona, as it relocates its Tempe pharmacy operations support center. The company will keep that facility open as a pharmacy mail services support facility to support expected future growth, it said in a statement. The drug store chain said 191 of the new jobs will meet or exceed the Maricopa County 2017 median wage. The company is moving 300 current positions from the Tempe facility to the new center, which will be 60,000 square feet. Jobs include pharmacists, pharmacy technicians and call center agents. Walgreens stock was up 0.7% Tuesday, but has fallen 3% in 2017, while the S&P 500 has gained 10%.

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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Lululemon’s stock slumps after analyst downgrade on valuation concerns

Shares of Lululemon Athletica Inc. slumped 0.8% in morning trade Tuesday, after the yoga gear maker was downgraded at Stifel Nicolaus, which cited concerns that the stock may have gotten ahead of fundamentals. Analyst Jim Duffy cut his rating to hold from buy, but raised his stock price target to $66 from $61. The new price target was 7.3% above current levels. The stock had shot up 27.4% since the company reported results on June 1 through Monday’s four-month closing high of $62.02, while the S&P 500 had gained just 1.6%. Given this outperformance, Duffy said it was “prudent” to reassess the stock’s risk-versus-reward profile. “Contemplative of near-term upside potential, longer-term opportunities and risks, we are challenged to justify sufficient risk-adjusted valuation upside to support a buy rating,” Duffy wrote in a note to clients. For Stifel Nicolaus, a buy rating represents an expectation of a total return of greater than 10% over the next 12 months.

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