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Salesforce acquires machine-learning startup PredictionIO

Salesforce.com Inc. has acquired Silicon Valley machine-learning startup PredictionIO to bulk up its own technology. PredictionIO cofounder and CEO Simon Chen announced the move in a blog post Friday, without disclosing the price of the deal; Salesforce confirmed the purchase without offering additional information. “At Salesforce, PredictionIO’s innovative machine learning platform will extend SalesforceIQ’s machine learning capabilities and enhance intelligence across the Salesforce clouds,” Chen wrote. Machine learning is a basic form of artificial intelligence, in which computers are trained to act without specific programming. PredictionIO has developed a server with open-source machine-learning technology, TechCrunch reported earlier Friday, and will keep the technology open-source after the acquisition. Salesforce stock gained 0.2% in late trading Friday, after closing with a 0.7% gain at $62.14.

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Former FHA Commissioner Carol Galante joining Ocwen’s board of directors

Ocwen Financial is about to add a big name to its board of directors, as the nonbank announced Friday that Carol Galante, the former commissioner of the Federal Housing Administration, is set to join the company’s board. Ocwen also announced that it is elevating Phyllis Caldwell from her current role as an independent director to serve as chair of the company’s board of directors. …read more

From:: Real Estate Wire

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Moody’s affirms Spain’s ‘Baa2’ rating but cuts outlook to stable

Moody’s Investors Service on Friday affirmed Spain’s sovereign rating of “Baa2” but lowered the outlook on the rating to stable from positive. The ratings agency said while the banking sector has stabilized and is in better shape to support the economy, there are still some reforms that need to be implemented. “The momentum behind further reform has faltered” amid several elections in the recent years and an “above-trend” economic growth, Sarah Carlson, senior vice president of Moody’s sovereign risk group, said in a statement. Baa2 is two notches above junk bond territory.

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Carl Icahn could have lost over $700 million in one day on his Icahn Enterprises stake

Icahn Enterprises L.P.’s stock tumbled 11% Friday, meaning Carl Icahn may have lost over $700 million on the investment vehicle’s shares he owns. The stock’s selloff came after Standard & Poor’s indicated Icahn Enterprises’ credit rating could be cut to junk status. Icahn is the company’s chairman, and by far its largest shareholder, as he owned 117.04 million common shares, or 91% of the shares outstanding, as of Dec. 31, according to FactSet. If his holding remained intact on Friday, the stock’s $6.10 price decline means he would have lost $713.91 million on his bet. With the stock down $12.55, or 20%, year to date, Icahn could be down $1.47 billion on his investment this year.

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Mortgage modification fraudsters admit guilt in brazen, predatory scheme

Mehdi Moarefian, who is also known as “Michael Miller,” and Daniel Shiau, who is also known as “Scott Decker,” each pleaded guilty for their roles in a brazen, predatory scheme that cost homeowners at least $3 million. According to court documents, Moarefian, Shiau, and others did business under at least 30 different company names, including several that closely resembled the names of legitimate businesses in the mortgage finance space, most notably Green Tree Servicing and Nationstar Mortgage. …read more

From:: Real Estate Wire

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CORRECT: U.S. stocks limp lower, but log largest weekly gain of 2016

U.S. stocks finished slightly lower Friday as a slide in oil prices resumed, but managed to log their largest weekly gains in three months. The Dow industrials finished down 22.3 points, or 0.1%, at 16,391.10. The S&P 500 finished flat at 1,917.67. The Nasdaq Composite finished 16.89 points, or 0.4%, higher at 4,504.43. Both the Dow and S&P 500 posted their largest weekly gains since Nov. 20, up 2.6% and 2.8%, respectively. Meanwhile, the Nasdaq Composite’s 3.9% weekly gain was its largest since July 17.

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.

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From:: Stock Market News