Foreclosures | Mortgages | Financing
Robert Hosch, the former managing partner and chief executive officer of mortgage banking industry law firm Butler & Hosch, which abruptly closed in 2015 amid allegations of mismanagement, is resigning from the Florida Bar Association. In a statement provided to HousingWire, Hosch said that resigning from the Florida Bar is “not an admission of guilt,” adding that this move will allow him to “focus on new opportunities.” …read more
From:: Real Estate Wire
The company announced its new addition today. The new group is designed to be agile and adaptive in order to meet the demands of the rapidly changing mortgage industry, according to a statement released from The Mortgage Collective. …read more
From:: Real Estate Wire
Shares of United Technologies Corp. and Honeywell International Inc. rallied in afternoon trade Monday, after CNBC said the companies had held merger talks, citing people familiar with the situation. The talks were centered on a deal in which Honeywell would offer a premium to acquire United Technologies, largely in stock but with some cash, CNBC reported. United Tech shares were last up 4.5%, while Honeywell was up 1.7%. The S&P 500 was last up 1.3%.
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 calls to allow the GSEs to rebuild capital amplify an important issue and are based on valid and reasoned concerns that we all share. Unfortunately allowing them to just recapitalize is simply not a mathematical possibility. …read more
From:: Real Estate Wire
Imax Corp.’s stock shot up 4% to a five-week high in morning trade Monday, after the movie technology company was upgraded by analyst Michael Pachter at Wedbush Securities, citing “favorable” valuation and expectations of earnings acceleration. Pachter raised his rating to outperform, after being at neutral for at least the last three years. He kept his 12-month stock price target at $38, which is 19% above current levels. “After years of flat installations and a growing backlog, it appears that the installation pace is now accelerating, and we think the theater base is large enough to capture leverage on an improving release slate,” Pachter wrote in a note to clients. He expects laser technology to help accelerate earnings growth starting in 2018. Pachter said he believes the company’s multiyear film deals with Disney and Warner Bros. ensures that each of those studios’ superhero film slates will hit Imax screens. The stock, which has soared 22% since closing at a 19-month low on Feb. 12, has still lost 11% year to date, while the S&P 500 has slipped 5.1%.
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
Amazon.com Inc. has raised the free shipping minimum to $49 from $35 for non-Prime members, according to information provided on the Amazon website. The company hasn’t published a press release with the news. For books, the threshold is still $25. There is unlimited free two-day shipping for Prime members. “A higher minimum order requirement for free non-Prime shipping effectively increases the appeal of Prime membership, and Prime households spend disproportionately more than non-Prime households,” said Keith Anderson, vice president of strategy and insights for Profitero, an e-commerce data company. A steep 32.8% increase in fulfillment costs had a negative impact on quarterly earnings announced on January 29. Prime membership increased 51% in 2015. Amazon shares are up 3.7% in Monday trading, and up 44.6% for the past year. The S&P 500 is down 8% for the past 12 months.
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 Expedia Inc. and TripAdvisor Inc. dropped in morning trade Monday, bucking the big gains seen in the broader market, after Stifel Nicolaus turned bearish on the online travel services companies, citing concerns over the moderating global economy and maturing U.S. online booking penetration. Analyst Scott Devitt cut the ratings of Expedia and TripAdvisor to sell from hold. He established a $95 stock price target for Expedia, which is 11% below current levels; his target for TripAdvisor’s stock is $53, or 16% below current levels. In a research note titled “Securing and early checkout,” Devitt said he’s also concerned about “competitive activity from hotels in the form of direct-booking campaigns and inventory consolidation.” He said his concerns were diminished after the companies’ stocks soared following fourth-quarter results, but he believes they will become relevant again soon. Expedia’s stock fell 1.4% and TripAdvisor’s shed 0.9%, while the S&P 500 surged 1.3%. Year to date, Expedia shares shed 14%, TripAdvisor’s fell 26% and the S&P 500 slipped 4.9%.
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 higher on Monday as oil prices climbed above $33 a barrel boosting energy companies. Monday’s moves came on the heels of the best weekly gains for stocks in three months. The S&P 500 opened 15 points, or 0.8%, higher at 1,933. The Dow Jones Industrial Average added 107 points, or 0.7%, to 16,515 shortly after the open. Meanwhile, the Nasdaq Composite began the day up 47 points, or 1%, at 4,550.
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
Verizon Communications Inc. announced on Monday an agreement to buy the fiber-optic network business of XO Communications for about $1.8 billion. Verizon expects the deal, which is seen closing in the first half of 2017, to have synergies of more than $1.5 billion. Verizon said it expects to lease available XO wireless spectrum by the end of 2018. Verizon’s stock, which gained 0.4% in premarket trade, has run up 10% year to date, while the Dow Jones Industrial Average has lost 5.9%.
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From:: Stock Market News
Dean Foods Co. stock rose 2.6% in premarket trading after the company gave first-quarter 2016 guidance that exceeds expectations. The food and beverage company whose brands include TruMoo flavored milk, Country Fresh and Dean’s, said it had fourth-quarter net income of $18 million, or 20 cents per share, up from $5 million, or 6 cents per share, for the same period last year. Adjusted earnings were 36 cents per share, beating the Factset consensus of 34 cents per share. Revenue for the quarter totaled $2.02 billion, down from $2.4 billion for the same period in 2014 and just missing the FactSet consensus of $2.07 billion. Milk costs declined 31% year-over-year in the fourth quarter of 2015. Dean Foods sees first-quarter adjusted earnings between 32 cents and 42 cents on continued commercial and brand initiatives, a cost focus and a favorable commodity environment, Chief Executive Gregg Tanner said in a release statement. The FactSet consensus is 32 cents per share. Dean Foods stock is up 23.8% for the past year while the S&P 500 is down 9.1% for the same period.
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