Foreclosures | Mortgages | Financing
BOK Financial recently announced it named J. Edward Adams as its new retail mortgage channel leader. Adams brings 29 years of retail mortgage lending experience and will direct and expand the bank’s retail mortgage lending efforts for BOK Financial’s mortgage origination operations in 15 cities. …read more
From:: Real Estate Wire
CalAmp Corp. shares fell in the extended session Monday after the wireless communications device company trimmed its revenue outlook for the quarter. CalAmp shares fell 7.7% to $17.75 after hours. The company forecast revenue of about $71 million, down from a previous estimate of $73 million to $78 million, for the fourth quarter, and $86 million to $94 million for the first quarter. The first-quarter estimate includes 10 weeks of revenue from LoJack Corp., which the company acquired, CalAmp said. Analysts surveyed by FactSet had forecast revenue of $75.9 million for the fourth quarter and $74.9 million for the first quarter.
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From:: Stock Market News
Sealed Air Corp. said late Monday its board raised the quarterly dividend by 23%. The dividend of 16 cents a share, up from 13 cents a share, will be paid June 17 to shareholders of record as of June 3. Shares of the packaging and Bubble Wrap maker were flat at $47.23 after hours.
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From:: Stock Market News
Denver’s hot market just got hotter, especially for homes over $1 million. According to a report by Coldwell Banker Residential Brokerage, luxury home sales in the mile high city increased 40% over February 2015. …read more
From:: Real Estate Wire
Mattress Firm Holding Corp. shares fell more than 5% late Monday after the mattress retailer reported fourth-quarter earnings and sales that were below analyst expectations. Mattress Firm said it earned $13.1 million, or 37 cents a share, in the quarter, compared with 19 cents a share in the year-ago period. Adjusted for one-time items, the retailer earned $19 million, or 53 cents a share, compared with 41 cents a share a year ago. Sales reached $618.5 million in the quarter. Analysts polled by FactSet had expected Mattress Firm to report adjusted earnings of 56 cents a share on sales of $622 million. The retailer said its same-store sales grew 0.7% in the quarter, whereas the analysts surveyed by FactSet had expected a rise of 2.3%. The company, which bought rival company Sleepy’s LLC for $780 million in November, said it will re-evaluate its retail footprint and may close stores that overlap, an effort it hopes will drive “a more efficient deployment of capital.” Shares of Mattress Firm ended the regular trading day up 1%.
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From:: Stock Market News
Oil futures gained on Monday, recouping much of their losses from late last week as the April West Texas Intermediate crude contracts expired. April WTI crude rose 47 cents, or 1.2%, to settle at $39.91 a barrel on the New York Mercantile Exchange. The May contract , which is now the front-month contract, tacked on 38 cents, or 0.9%, to end at $41.52 a barrel.
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From:: Stock Market News
Gold futures settled lower on Monday, extending their losses for a second session, in response to a firmer U.S. dollar and gains in the stock market. Gold, which is denominated in the U.S. currency, suffers when the greenback is strong as it makes the precious metal more expensive to buyers. April gold slid $10.10, or 0.8%, to settle at $1,244.20 while the U.S. Dollar Index rose 0.2% to 95.30 and the S&P 500 was poised for four-day winning streak.
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From:: Stock Market News
Nordstrom Inc. shares are down 1.6% in Monday trading after the retailer was downgraded to neutral from overweight at Piper Jaffrey. The price target is $62, with the stock trading at about $58. The firm’s analysts believe the luxury retailer will report below-consensus earnings for the next two quarters. The firm forecasts 40 cents per share for the first quarter 2017 versus a FactSet consensus of 48 cents per share, and 68 cents per share for the second quarter versus the FactSet consensus of 74 cents per share. The warm weather issues that plagued the retail sector this winter were just one of a few problems impacting Nordstrom’s sales trends, Piper Jaffrey wrote in a Monday note. With temperatures rising, the other issues are: stock market volatility, declines in international tourism and election uncertainty. “Three of the four issues haven’t subsided and the fourth – weather – is likely to switch back to a headwind in the upcoming Easter-build weekend,” the note said. In addition, the company’s annual Anniversary Sale is bleeding into the third quarter, which could shift some same-store sales out of the second quarter. Nordstrom shares are down 29.9% for the past 12 months, but up 15.9% for the year so far. The S&P 500 is up 1.3% for the year to date.
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From:: Stock Market News
The latest existing-home sales report confirms how barren the market is as almost every sector of housing continues to suffer from the impact of barely any inventory. And this report gives a new diagnosis of just how bad it is. Want to know the pain points? …read more
From:: Real Estate Wire
Shares home builders dropped Monday, after data showing the housing sector was weaker than expected last month. The iShares U.S. Home Construction ETF declined 1.3%, after closing Friday at the highest level of 2016, with 36 of its 41 equity components losing ground. Among the shares of the more-active components, D.R. Horton Inc.’s slumped 1.6%, PulteGroup Inc.’s shed 2.6%, KB Home’s slid 1.9%, Toll Brothers Inc.’s fell 1.7% and Lennar Corp.’s lost 1.3%. Earlier, the National Association of Realtors said existing-home sales plummeted 7.1% in February to an annual rate of 5.08 million, well below expectations for a decline to a 5.3 million rate. Through Friday, the home builder ETF had soared 23% since it closed at a 16-month low on Feb. 11. During that same time, the S&P 500 has rallied 12%.
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From:: Stock Market News