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Dotloop, a Cincinnati-based company that boasts it can simplify real estate transactions by enabling brokerages, real estate agents, and their clients to share, edit, sign and store documents digitally, announced a partnership with Lone Wolf Real Estate Technologies, a provider of residential real estate solutions and services in North America. …read more
From:: Real Estate Wire
Standard & Poor’s Ratings Services on Wednesday said it cut Saudi Arabia’s long-term sovereign credit rating to A-minus from A-plus to reflect the “marked and lasting” impact of the rout in oil prices. The ratings firm said it has cut its assumptions about oil prices for 2016 to 2019 by about $20 a barrel, with Brent expected to average $40 a barrel in 2016 and gradually rising to $50 a barrel by 2018. S&P said the government’s debt burden could exceed 7% of gross domestic product between 2016 and 2019. The ratings firm said its outlook for the country’s rating is stable, reflecting expectations that Saudi authorities “will take steps to prevent any further deterioration in the government’s fiscal position beyond our current expectations.”
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From:: Stock Market News
Standard & Poor’s Ratings Services on Wednesday said it cut Saudi Arabia’s long-term sovereign credit rating to A-minus from A-plus to reflect the “marked and lasting” impact of the rout in oil prices. The ratings firm said it has cut its assumptions about oil prices for 2016 to 2019 by about $20 a barrel, with Brent expected to average $40 a barrel in 2016 and gradually rising to $50 a barrel by 2018. S&P said the government’s debt burden could exceed 7% of gross domestic product between 2016 and 2019. The ratings firm said its outlook for the country’s rating is stable, reflecting expectations that Saudi authorities “will take steps to prevent any further deterioration in the government’s fiscal position beyond our current expectations.”
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From:: Stock Market News
Iran’s oil minister on Wednesday said the country will support action aimed at allowing oil prices to recover, but also said other producers understand the Tehran’s situation, the ministry’s official Shana news agency reported, according to news reports. The minister, Bijan Zanganeh, was earlier quoted as saying that Iran would resist any efforts to curb its own production because it would be “illogical” to do so just as sanctions that have limited crude exports are lifted. Zanganeh was meeting Wednesday with officials from fellow Organization of the Petroleum Exporting Countries members Iraq, Venezuela and Qatar to discuss a proposal tentatively agreed upon by Saudi Arabia and non-OPEC producer Russia to freeze production at January levels. Oil futures extended gains after the comments. March crude for delivery on the New York Mercantile Exchange was up $1.53, or 5.3%, at $30.57 a barrel.
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From:: Stock Market News
Although privately owned housing starts in January dropped 3.8% from December, the industry is still positive on the future of the housing market. According to one housing expert, most of January’s decline can likely be attributed to two main issues. …read more
From:: Real Estate Wire
U.S. stocks opened higher Wednesday, on track for a third session of gains ahead of the release of Federal Reserve minutes that could fuel hopes of a pause to rate hikes. Rising oil prices along with firmer inflation numbers from wholesalers helped boost investor sentiment. The S&P 500 rose 9 points, or 0.5%, to 1,905. The Dow Jones Industrial Average gained 73 points, or 0.4% to 16,268. The Nasdaq Composite rose 35 points, or 0.8%, to 4,471.
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From:: Stock Market News
It would be “illogical” for Iran to freeze oil production just as sanctions against the country’s crude exports are lifted, the country’s envoy to the Organization of the Petroleum Exporting Countries said Wednesday, according to news reports. “Asking Iran to freeze its oil production level is illogical…when Iran was under sanctions, some countries raised their ouptut and they caused the drop in oil prices,” the envoy, Medhi Asali, was quoted as saying in the Shargh daily newspaper,according to Reuters. The remarks come as Iranian officials prepared to meet with counterparts from Iraq, Venezuela and Qatar a day after Saudi Arabia and non-OPEC producer Russia agreed to freeze production if other major oil nations also agreed. Oil futures remained higher Wednesday, with March crude up 82 cents, or 2.8%, at $29.86 a barrel on the New York Mercantile Exchange.
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From:: Stock Market News
Gannett Co. missed fourth-quarter earnings expectations Wednesday. The media company reported net income of $20.4 million, or 17 cents per share, down from $66.9 million, or 58 cents per share, in the year-earlier period. Gannett reported adjusted earnings per share of 53 cents, below the FactSet consensus of 54 cents. Gannett reported revenue of $739.3 million, down from $818.9 million in the year-earlier period and below the FactSet consensus of $756 million. Shares of Gannett have fallen 10% in the past three monhts, compared to the S&P 500’s decline of 8%.
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From:: Stock Market News
Gannett Co. missed fourth-quarter earnings expectations Wednesday. The media company reported net income of $20.4 million, or 17 cents per share, down from $66.9 million, or 58 cents per share, in the year-earlier period. Gannett reported adjusted earnings per share of 53 cents, below the FactSet consensus of 54 cents. Gannett reported revenue of $739.3 million, down from $818.9 million in the year-earlier period and below the FactSet consensus of $756 million. Shares of Gannett have fallen 10% in the past three monhts, compared to the S&P 500’s decline of 8%.
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From:: Stock Market News
Dr. Pepper Snapple Group Inc. said it had net income of $185 million, or 97 cents per share, up from $150 million, or 77 cents per share, for the same period last year. Adjusted earnings were $1 per share, just above the FactSet consensus of 99 cents. Sales for the quarter totaled $1.55 billion, up slightly from $1.51 billion last year. The FactSet consensus was $1.53 billion. Dr. Pepper Snapple said volume in the U.S. and Canada was flat, while it grew 6% in Mexico and the Caribbean. The Dr. Pepper, 7Up, Sunkist and A&W brands declined while brands including Schweppes, Crush and Squirt grew. The company sees 2016 EPS between $4.20 and $4.30, below the FactSet consensus of $4.34. Sales are expected to rise 1%. Dr. Pepper Snapple plans to return $1 billion to shareholders in stock repurchases and dividends. The company’s shares are down 0.9% in premarket trading, but up 19.4% for the past year. The S&P 500 is down 9.8% for the previous 12 months.
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From:: Stock Market News