Foreclosures | Mortgages | Financing
By jgaffney@housingwire.com In a memo obtained by Rob Chrisman, employees were told, “unless otherwise informed, any work time invested on March 14, 2016 or beyond will be unpaid.” However, less than two years ago, W.J. Bradley’s mortgage ops were bullish. So what happened? …read more
From:: Real Estate Wire
By jgaffney@housingwire.com In a memo obtained by Rob Chrisman, employees were told, “unless otherwise informed, any work time invested on March 14, 2016 or beyond will be unpaid.” However, less than two years ago, W.J. Bradley’s mortgage ops were bullish. So what happened? …read more
From:: Real Estate Wire
By jgaffney@housingwire.com The secondary market continues to be dominated wholly by issuance from Ginnie Mae, Fannie Mae and Freddie Mac. Will this deal actually “revive” the debt market, as the WSJ puts it? …read more
From:: Real Estate Wire
United Parcel Service Inc. announced plans on Tuesday to build 12 additional compressed natural gas (CNG) fueling stations and add 380 CNG tractors to its fleet, a $100 million investment. The CNG investment is part of the company’s sustainability effort, with alternative fuel vehicles representing 6% of the company’s 100,000-plus global fleet, said Mark Wallace, UPS’ senior vice president of global engineering and sustainability, in a statement. The effort has resulted in a 10% reduction in conventional fuel use, according to Wallace. Using natural gas reduces greenhouse gas emissions between 6% and 11%, UPS said, quoting U.S. Department of Energy figures. UPS aims to tally one billion miles by 2017 with its alternative fuel and advanced technology fleet. UPS shares are down 0.2% in Tuesday trading, but up 5.1% for the year so far. The S&P 500 is down 1.9% for the year to date.
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
U.S. stocks opened lower on Tuesday following mixed economic data a day before the Federal Reserve concludes its policy meeting. Retail sales fell in February, while wholesale prices fell. Meanwhile, slumping oil prices put pressure on energy and materials companies. The S&P 500 opened 9 points, or 0.4%, lower at 2,010. The Dow Jones Industrial Average dropped 77 points, or 0.4%, to 17,152. Meanwhile, the Nasdaq Composite began the day down 18 points, or 0.4%, at 4,731.
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 Whirlpool Corp. were upgraded to overweight from neutral at J.P. Morgan on Tuesday. In a note to clients, the bank said the stock is attractive on a valuation basis relative to its three-year average, and that fundamentals in 2016 appear solid. “[We] see a path towards the company achieving its 2018 sales and EPS goals, both of which we believe are viewed with varying degrees of skepticism by investors,” J.P. Morgan said in the note. The stock has fallen 16% over the last 12 months, underperforming the S&P 500’s 2% decline. But they have outperformed more recently, climbing 15% over the last three months versus the index’s 1% decline. They rose 1% in premarket trade on Tuesday, putting them on track to open around $167.53.
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
This move comes during a time that the mortgage industry is really pushing to go more digital. The new partnership “aims to address a sizable need for innovation and improved efficiencies in the housing industry,” said Rajesh Bhat, cofounder and CEO of Roostify. …read more
From:: Real Estate Wire
Shares of 3D Systems Inc. fell more than 6% in premarket trade Tuesday after J.P. Morgan downgraded the stock to underweight and said the stock’s rally this year has been “excessive” given the lack of clear demand and decline in printer sales last quarter. On Monday, the company reported lower quarterly sales and earnings, though both numbers trumped Wall Street expectations as the company benefitted from new industrial clients in the healthcare industry. Its shares rallied 25% on Monday, marking the company’s best one-day percentage gain in five years. However, J.P. Morgan analyst Paul Coster, who raised his price target on the stock to $10 from $9 on Tuesday, said he believes the stock “overreacted positively” on Monday, primarily owing to a short squeeze.
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 3D Systems Inc. fell more than 6% in premarket trade Tuesday after J.P. Morgan downgraded the stock to underweight and said the stock’s rally this year has been “excessive” given the lack of clear demand and decline in printer sales last quarter. On Monday, the company reported lower quarterly sales and earnings, though both numbers trumped Wall Street expectations as the company benefitted from new industrial clients in the healthcare industry. Its shares rallied 25% on Monday, marking the company’s best one-day percentage gain in five years. However, J.P. Morgan analyst Paul Coster, who raised his price target on the stock to $10 from $9 on Tuesday, said he believes the stock “overreacted positively” on Monday, primarily owing to a short squeeze.
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
Fossil Group said Tuesday it is planning to launch wearables for eight brands in 40 countries in 2016. the Swiss watch maker said the brands are Chaps, Diesel, Emporio Armani, Fossil, Kate Spade New York , Michael Kors , Misfit and Skagen, and the products will include display and non-display watches and trackers. “Fossil Group will support the wearables with unique and branded apps across all brands, three product categories, and two operating systems,” the company said in a statement. Shares were not yet active in premarket trade, but are down 38% in the last 12 months, while the S&P 500 has lost 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