Foreclosures | Mortgages | Financing
The California housing market remains stifled by a shortage of homes for sale and low housing affordability. This time the impact caused the statewide pending home sales in California to drop in January on a year-over-year basis for the first time since August 2014. …read more
From:: Real Estate Wire
Stamps.com Inc. shares rallied in the extended session Thursday after the Internet-based postage service topped Wall Street estimates for the quarter. Stamps.com shares surged 21% to $116.61 after hours. The company reported adjusted fourth-quarter revenue of $1.57 a share on revenue of $69.9 million. Analysts surveyed by FactSet had forecast earnings of 95 cents a share on revenue of $58.4 million. For the year, the company sees adjusted earnings of $5 to $5.50 a share on revenue of $290 million to $300 million, while analysts expect $5.46 a share on revenue of $346.6 million.
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 Herbalife Ltd. rose in Thursday’s extended session after the nutritional-products company posted better-than-projected quarterly results. Herbalife reported its fourth-quarter earnings fell to $84.5 million, or 98 cents a share, from $103.3 million, or $1.21 a share, a year ago. On an adjusted basis, the company would have earned $1.19 a share. Revenue slid to $1.1 billion from $1.13 billion a year ago. Analysts surveyed by FactSet had projected earnings of 94 cents a share on revenue of $1.06 billion. Herbalife forecast first-quarter adjusted EPS of 97 cents to $1.07, which is below analysts’ average estimate of $1.09 a share. The company also expects revenue to decrease 3% to 6%. Herbalife has been fighting a war of words with hedge fund manager Bill Ackman, who has characterized the company as a pyramid scheme. Shares gained 2.2% 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
Ralph Lauren Corp. said Thursday that Christopher Peterson has decided to leave the company effective May 31, barely a year into his tenure as president of global brands. That position, created in April, is being eliminated, the company said. Global brands will respond directly to Chief Executive Stefan Larsson, “streamlining the senior leadership and giving Mr. Larsson direct oversight of brands,” the retailer said. Peterson joined Ralph Lauren in 2012 and prior to the April appointment had been the retailer’s executive vice president and chief financial officer, among other duties. Shares of Ralph Lauren fell 1% in late trading Thursday after ending the regular trading session up 2.2%.
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
Ralph Lauren Corp. said Thursday that Christopher Peterson has decided to leave the company effective May 31, barely a year into his tenure as president of global brands. That position, created in April, is being eliminated, the company said. Global brands will respond directly to Chief Executive Stefan Larsson, “streamlining the senior leadership and giving Mr. Larsson direct oversight of brands,” the retailer said. Peterson joined Ralph Lauren in 2012 and prior to the April appointment had been the retailer’s executive vice president and chief financial officer, among other duties. Shares of Ralph Lauren fell 1% in late trading Thursday after ending the regular trading session up 2.2%.
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
Despite recently agreeing to a $1.2 billion settlement with the federal government to resolve claims related to its Federal Housing Administration lending program from 2001-2010, Wells Fargo is still facing investigations into its “mortgage related practices” from the Department of Justice, as well as other federal and state agencies, the megabank disclosed this week. …read more
From:: Real Estate Wire
Shares of Monster Beverage Corp. slid in Thursday’s extended session after the energy-drink maker reported quarterly results and a stock repurchase program of up to $1.75 billion. Monster Beverage reported fourth-quarter earnings of $138.7 million, or 67 cents a share, compared with $125.3 million, or 72 cents a share, a year ago. Revenue rose 6.6% to $645.4 million. Analysts surveyed by FactSet had projected earnings of 82 cents a share on revenue of $700 million. Monster Beverage shares fell 5.7% 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
Weight Watchers International Inc. shares dropped in the extended session Thursday after the weight-loss program company reported a surprise loss for the quarter. Weight Watchers shares fell 18% to $12.85 after hours on heavy volume. The company reported an adjusted fourth-quarter loss of 3 cents a share on revenue of $259.2 million. Analysts surveyed by FactSet had forecast earnings of 2 cents a share on revenue of $257 million. Weight Watchers forecast 2016 earnings of 70 cents to $1 a share, while analysts are looking for 83 cents a share.
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
Kraft Heinz Co. shares rose 2% in late trading Thursday after the food company swung to gains and reported sales in line with forecast. Kraft Heinz said it earned 23 cents a share in the fourth quarter, versus a loss of 4 cents a share in the year-ago period. Adjusted for one-time items, the company said it earned 62 cents a share, from 56 cents a share a year ago. Revenue reached $7.12 billion, down 5% from the year-ago period. Analysts polled by FactSet had expected the food company to report adjusted earnings of 58 cents a share on of $7 billion. “The important integration work and financial results we delivered in 2015 set a solid base on which we can drive sustainable growth across our global business,” Kraft Heinz CEO Bernardo Hees said. “We are working to implement proven management methodologies, remove inefficient spending and streamline our organization, while investing in our brands and innovation to drive long-term profitable growth.”
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 erased early losses to end sharply higher Thursday, turning north after news reports said Venezuela’s oil minister announced his country would meet with fellow oil producers next month in an effort to stabilize prices. West Texas Intermediate crude futures on the New York Mercantile Exchange finished with a gain of 92 cents, or 2.9%, at $33.07 a barrel. Venezuela oil minister Eulogio Del Pino said Russia, Saudi Arabia and Qatar would participate in the meeting, according to news reports.
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