At a time of volatility in the global financial market, borrowing by U.S. consumers decreased. The seasonally adjusted rate came in at it’s lowest growth rate since March 2013. …read more
From:: Real Estate Wire
Michael Bloomberg says he won’t run for president
Michael Bloomberg, the former mayor of New York City, said in a statement Monday that he will not run for president. Bloomberg says many Americans have urged him to run as an independent. “But when I look at the data, it’s clear to me that if I entered the race, I could not win,” says Bloomberg.
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
Stonegate Exec: Distributed retail lending ‘is small but important’
After the lender’s fourth-quarter earnings, Steve Landes, Stonegate Mortgage executive vice president, national director of sales and president of NattyMac, talked about Stonegate’s plans for distributed retail lending and what the company sees ahead in 2017. …read more
From:: Real Estate Wire
Stonegate Exec: Distributed retail lending ‘is small but important’
After the lender’s fourth-quarter earnings, Steve Landes, Stonegate Mortgage executive vice president, national director of sales and president of NattyMac, talked about Stonegate’s plans for distributed retail lending and what the company sees ahead in 2017. …read more
From:: Real Estate Wire
Federal government runs $192 billion budget deficit in February, CBO estimates
The federal government ran a budget deficit of $192 billion in February, the Congressional Budget Office estimated Monday. The shortfall is the same as the deficit in February 2015. For the fiscal year to date, the deficit is $352 billion, or $34 billion less than the shortfall in the first five months of fiscal 2015. Year-to-date receipts were five percent higher, and spending was up two percent. The government’s fiscal year runs from October through September.
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
Shake Shack swings to gains, but shares fall
Shake Shack Inc. shares fell nearly 7% Monday after the fast-casual restaurant chain gave Wall Street a soft outlook for its same-store sales this year. The company swung to gains in the fourth quarter, reporting a net income of $1.2 million, or 7 cents a share, for the quarter, compared with a net loss of $1.4 million, or 5 cents a share, for the same period last year. Total revenue reached $51.1 million in the quarter, up 47% from $35 million in the year-ago period. Analysts polled by FactSet had expected the company to report earnings of 7 cents a share on sales of $50.3 million. Same-store sales rose 11%, the fast-casual restaurant said. The company said it expects to open restaurants in several new cities this year, including the Los Angeles area, and it also plans to enter South Korea, with a partner. Shake Shack predicted total revenue between $237 million and $242 million for fiscal 2016, whereas analysts had expected sales of $240 million for the year. Same-store sales are expected to grow between 2.5% and 3% in 2016, the company said; that contrasts with expectations of 3.1% same-store sales growth for the year, according to FactSet. Shares of Shake Shack had ended the regular trading session up 0.6%.
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
Urban Outfitters shares rally as earnings beat Wall Street’s expectations
Shares of Urban Outfitters Inc. climbed in Monday’s extended session after the retailer posted better-than-expected earnings. Urban Outfitters reported its fourth-quarter earnings slid to $72.9 million from $80.3 million a year earlier but edged up on a per-share basis to 61 cents versus 60 cents. Revenue was flat at $1.01 billion. Analysts surveyed by FactSet had projected earnings of 56 cents a share on revenue of $1.01 billion. Comparable sales fell 2% in the quarter, steeper than the 1.9% drop forecast by analysts. Shares jumped 5.8% in after-hours trading.
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
Oil futures top $37 to log highest settlement level of the year
Oil futures rallied on Monday, with prices scoring their highest settlement level of the year as traders continue to bet that oil producers will freeze output. April West Texas Intermediate crude rose $1.98, or 5.5%, to settle at $37.90 a barrel on the New York Mercantile Exchange. That was the highest settlement for a most-active contract since Christmas Eve, according to FactSet Data.
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
Altisource’s Premium Title integrates with Mortgage Builder
As a result of a new integration with the Mortgage Builder Loan Origination System, Premium Title said it can close more loans at a lower cost and higher quality, helping ensure full compliance throughout the process. …read more
From:: Real Estate Wire
EIA: U.S. shale oil output to fall 106,000 barrels a day in April
Oil production from seven major U.S. shale plays is expected to fall by 106,000 barrels a day in April from March to total 4.871 million barrels a day, according to a monthly report from the Energy Information Administration released Monday. Oil output at the Eagle Ford shale play in South Texas is forecast to see the biggest decline, down 58,000 barrels a day in April, as the Bakken shale play, which stretches from Canada into North Dakota and Montana, is expected to see output fall by 28,000 barrels a day, the report said. April oil continued to trade higher, up $1.73, or 4.8%, to trade at $37.65 a barrel on the New York Mercantile Exchange.
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