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The fundamental shifts in the country’s economic policy in the wake of the economic crisis were not enough to prevent another catastrophic meltdown and more needs to be done to ensure that a future economic downturn doesn’t turn into another crisis, Neel Kashkari, the newly minted President of the Federal Reserve Bank of Minneapolis, said Tuesday. …read more
From:: Real Estate Wire
Quicken Loans is revving up to face the Department of Justice after a federal judge tossed Quicken’s lawsuit against the DOJ and the Department of Housing and Urban Development in January. As Quicken Loans prepares for the exceptionally rare case of a lender stepping up to face the U.S. government, it’s going to have to overcome a few obstacles, starting with where the trial will take place. …read more
From:: Real Estate Wire
WASHINGTON (MarketWatch) – President Barack Obama on Tuesday said he believes that billionaire GOP candidate Donald Trump will not be president. “The reason is, I have a lot of faith in the American people and I think they recognize that being president is a serious job, it is not hosting a talk show,” Obama said during a press conference following a meeting with leaders from the Association of Southeast Asian Nations in Rancho Mirage, Calif. The president said his disquiet with Republican candidates was not restricted to Trump. Obama said Republican candidates have expressed anti-Muslim and anti-immigrant sentiments and that foreign observers are troubled that none of the candidates have expressed a willingness to combat the threat of climate change. “The other countries on the world kind of count on the United States being on the side of science, and reason and common sense,” Obama said.
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
Kinder Morgan Inc.’s stock shot up 6% in after-hours trade Tuesday, after Warren Buffett’s Berkshire Hathaway Inc. disclosed in a regulatory filing that it owned a new 26.5 million share stake in the oil and gas pipeline company as of Dec. 31. The stock had tumbled 46% during the fourth-quarter, to end 2015 with a 65% loss on the year, as oil prices tumbled. So far this year, the stock closed has gained 4.7%, while the S&P 500 has lost 7.3%. The stock had closed at a record low of $12.01 on Jan. 20, then started rallying after the company had reported a surprise fourth-quarter loss and slashed its dividend. Late Friday, David Tepper’s hedge fund Appaloosa Management disclosed that it owned a new 10.9 million share stake in Kinder Morgan as of Dec. 31; the stock jumped 4.4% during Friday’s regular session.
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
Kinder Morgan Inc.’s stock shot up 6% in after-hours trade Tuesday, after Warren Buffett’s Berkshire Hathaway Inc. disclosed in a regulatory filing that it owned a new 26.5 million share stake in the oil and gas pipeline company as of Dec. 31. The stock had tumbled 46% during the fourth-quarter, to end 2015 with a 65% loss on the year, as oil prices tumbled. So far this year, the stock closed has gained 4.7%, while the S&P 500 has lost 7.3%. The stock had closed at a record low of $12.01 on Jan. 20, then started rallying after the company had reported a surprise fourth-quarter loss and slashed its dividend. Late Friday, David Tepper’s hedge fund Appaloosa Management disclosed that it owned a new 10.9 million share stake in Kinder Morgan as of Dec. 31; the stock jumped 4.4% during Friday’s regular session.
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
Elliott Management, the hedge fund founded by billionaire investor Paul Singer, disclosed in a regulatory filing that it owned 67.1 million shares of aluminum producer Alcoa Inc. as of Dec. 31, after owning just an option to buy 2 million shares at the end of September. Among other new stakes the hedge fund took during the fourth quarter, it now owns 8.94 million shares of CenterPoint Energy Inc. , and an option to buy 1.07 million more shares; it took a new 6.7 million share stake in Hewlett Packard Enterprises Co. ; it now holds just under 1 million shares of LivePerson Inc. and it took a new 5 million share stake in Symantec Corp. . Meanwhile, Elliott sold its entire 3.2 million share stake in Comcast Corp. ; sold off its 1.6 million shares of Juniper Networks Inc. ; and sold its 3.7 million share stake in 21st Century Fox Inc. .
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) – President Barack Obama called on lawmakers “to do their job” and take a vote on his expected nominee to the Supreme Court. “There is more than enough time for the Senate to consider, in a thoughtful way, the record of a nominee that I present, and make a decision,” Obama said. He said he would pick someone for the Supreme Court “with an outstanding legal mind.”
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
Lumber Liquidators Holdings Inc. Chief Executive John Pressley said late Tuesday in a regulatory filing that he has been diagnosed with leukemia and will be entering a 30-day treatment program. Pressley said he will be able to stay actively involved in day-to-day operations. “If there is a change in my health in the future, I will let you know,” Pressley said in a statement to employees and shareholders. Lumber Liquidators shares rose 0.2% to $13.85 after hours.
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
Potbelly Corp. shares rallied 7% Tuesday after the company reported fiscal fourth-quarter earnings that beat Wall Street expectations. Potbelly said it earned $1.2 million, or 5 cents a share, compared with $700,000, or 2 cents a share, in the fiscal fourth quarter of 2014. Adjusted for one-time items, the company earned $2.3 million, or 8 cents a share, from 6 cents a share in the year-ago period, Potbelly said. Revenue rose 12% to $95.1 million. Analysts polled by FactSet had expected the company to earn 6 cents a share on sales of $94.8 million in the quarter. Company-operated comparable-store sales rose 3.7%.
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 closed higher Tuesday despite a decline in oil prices. The S&P 500 finished 30.66 points, or 1.6%, higher at 1,895.43. The Dow industrials finished 220.72 points, or 1.4%, higher at 16,194.56. The Nasdaq Composite finished 98.44 points, 2.3%, higher at 4,435.96. Analysts said investors regained interest in U.S. stocks after they became oversold, helping to break a strong correlation between stocks and oil prices that became established in recent weeks.
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