Foreclosures | Mortgages | Financing
A U.S. judge ruled on Thursday that Bank of New York Mellon must face a lawsuit seeking to hold it liable for causing $1.12 billion of investor losses due to toxic residential. This is only the latest case from Manhattan federal judges over similar claims. …read more
From:: Real Estate Wire
A trio of apartment buildings in Fort Lauderdale has been targeted in a foreclosure lawsuit.
Quadratus, a British Virgin Islands-based company, filed a foreclosure lawsuit Feb. 11 against Fast Boots LLC over a $2.08 million mortgage, plus interest, according to the complaint. The borrower is managed by Job de Ojeda as CFO of Structure Capital in Fort Lauderdale. No individuals were named in the lawsuit.
The lender aims to seize the following three neighboring properties, located just north of East… …read more
From:: biz journal foreclosures
U.S. stocks opened slightly higher, on track for a fourth straight session of gains, after a much stronger-than-expected monthly jobs report underscored that the labor market remains robust. The Labor Department said that the U.S. generated 242,000 new jobs in February, beating economists’ expectations of 198,000 new jobs. But the report also showed a drop in hourly wages and in the number of hours worked. Continued strength in the labor market could keep the Federal Reserve on track to raise interest rates further this year, after December ushered in the first hike in nearly a decade. The S&P 500 gained 3 points, or 0.2%, to 1,996. The Dow Jones Industrial Average opened 20 points, or 0.1%, higher at 16,965. Meanwhile, the Nasdaq Composite began the day up 9 points, or 0.2%, to 4,716.
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
Under Armour Inc. affirmed Friday its 2016 revenue outlook, as the athletic gear maker attempted to dispel concerns about the impact of the bankruptcy of The Sports Authority, which is one of its customers, earlier this week. Under Armour said it still expects full-year revenue of $4.95 billion, compared with the FactSet consensus of $4.99 billion. Under Armour said it did not believe that the exposure to its receivables from The Sports Authority “is materially impacted by these developments,” the company said in a statement. The company plans to offset impact of the bankruptcy through continued sales to The Sports Authority and sales through other customers. Since The Sports Authority declared bankruptcy before the March 2 opening bell, Under Armour’s stock had declined 2.2% while the S&P 500 had gained 0.8%. The stock was still inactive ahead of Friday’s open.
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
The dollar strengthened against its main rivals Friday after data from the Labor Department showed the U.S. economy created more jobs in February than economists had expected. The dollar jumped to 114.10 yen after the data, up from 113.81 yen shortly before. The euro fell to $1.0927, from $1.0970 before. The pound fell to $1.4129, from $1.4145. The U.S. economy added 242,000 jobs in February according to the data, exceeding expectations for a gain of 198,000. Last month’s initial reading of 151,000 new jobs was also revised higher to 172,000. But the report did include one notable blemish: Average hourly wages, a key measure of inflation, declined by 0.1%. Economists had expected wages to rise by 0.2%.
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
The dollar strengthened against its main rivals Friday after data from the Labor Department showed the U.S. economy created more jobs in February than economists had expected. The dollar jumped to 114.10 yen after the data, up from 113.81 yen shortly before. The euro fell to $1.0927, from $1.0970 before. The pound fell to $1.4129, from $1.4145. The U.S. economy added 242,000 jobs in February according to the data, exceeding expectations for a gain of 198,000. Last month’s initial reading of 151,000 new jobs was also revised higher to 172,000. But the report did include one notable blemish: Average hourly wages, a key measure of inflation, declined by 0.1%. Economists had expected wages to rise by 0.2%.
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
Treasury yields climbed Friday to their highest level in a month after the Labor Department said that the U.S. generated 242,000 new jobs in February, beating economists’ expectations of 198,000 new jobs. Continued strength in the labor market could keep the Federal Reserve on track to raise interest rates further this year, after December ushered in the first hike in nearly a decade. Yet despite the big gain in new jobs, average hourly wages fell by 0.1%. The yield on the 10-year Treasury note, the Treasury market’s benchmark, gained 5.5 basis points to 1.885%, its highest level since Feb. 1, according to Tradeweb. The 2-year yield gained 3.3 basis points to 0.878%, its highest level since mid January. The 30-year yield rose 4.3 basis points to 2.701%. Treasury yields rise when prices fall. One basis point is equal to one hundredth of a percentage point.
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
WASHINGTON (MarketWatch) – The U.S. generated 242,000 new jobs in February, snapping back after a modest slowdown in hiring in the first month of 2016. Economists polled by MarketWatch had expected an increase of 198,000 nonfarm jobs. The unemployment rate was unchanged at 4.9%. Employment gains for January and December, meanwhile, were revised up by a combined 30,000, the Labor Department said Friday. The government said 172,000 new jobs were created in January instead of 151,000. December’s gain was raised to 271,000 from 262,000. Yet despite the big gain in new jobs, average hourly wages fell 3 cents, or 0.1%, to $25.35. Hourly pay rose a mild 2.2% from February 2015 to February 2016. And the amount of time people worked each week dropped 0.2 hours to 34.4 hours, the lowest level in two years. The labor-force participation rate moved up to 62.9%, the highest level since May, as more than half a million people joined the labor force.
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From:: Stock Market News
The Brazilian real jumped to a six-month high against the dollar Friday after Brazilian authorities said they had detained former president Luiz Inacio Lula da Silva. The dollar sunk to 3.68 real, compared with 3.80 real late Thursday in New York. Authorities say they have evidence that da Silva profited from a bid-rigging and bribery ring involving state-owned oil company Petroleo Brasileiro SA, The Wall Street Journal reported. No formal charges have been filed against da Silva.
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From:: Stock Market News
SunEdison Inc.’s stock shot up 15% in active premarket trade Friday, after the renewable energy company and TerraForm Power Inc. announced a settlement, in which the actions filed by shareholders of Latin American Power Holding against the companies will be dismissed without prejudice. The deal resolves all disputes regarding the termination of SunEdison’s acquisition of Latin America Power. As part of the deal, SunEdison will pay $28.5 million, while TerraForm has no payment obligation. TerraForm’s stock was still inactive in premarket trade. Shares of SunEdison had tumbled 70% year to date through Thursday, while TerraForm’s had dropped 25% and the S&P 500 had slipped 2.5%.
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.
From:: Stock Market News