From:: DIY this old house
Supreme Court blocks Obama climate change rules for now: reports
The U.S. Supreme Court said it will halt enforcement of climate change measures proposed by President Barack Obama until legal issues are resolved, The Associated Press reported late Tuesday. In January, Obama proposed new rules meant to cut methane emissions from the oil and gas industry by up to 45%, adding to Environmental Protection Agency rules meant to cut down on carbon emissions from power plants. Appelate arguments are scheduled to begin June 2, according to the AP.
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From:: Stock Market News
CFPB corrects error in TRID rule
It’s been four months since the implementation of the CFPB’s TILA-RESPA Integrated Disclosures rule in October shook up the housing industry, and many in the industry are still getting used to the new normal. But, starting Wednesday, there’s a small portion of the TRID rule that will be changing, thanks to a “typographical error” in the supplementary information provided by the CFPB. …read more
From:: Real Estate Wire
S&P lowers ratings on four banks with big oil loan exposure
Four regional banks had their ratings cut by Standard & Poor’s late Tuesday on their exposure to loans in the energy sector amid falling oil prices. S&P lowered ratings by one notch on BOK Financial Corp. to “BBB+”, Comerica Inc. to “BBB+”, Cullen/Frost Bankers Inc. to “A-“, and Texas Capital Bancshares Inc. to “BB+”. “We are in the early innings of the downturn, in our view, and we expect loan losses to rise over the next two years, even if energy prices rebound modestly from current levels,” S&P said in a release.
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From:: Stock Market News
Second largest food service company US Foods files for IPO
US Foods Holdings Corp., one of the largest private companies in the U.S. with annual revenue of more than $20 billion, registered with the Securities and Exchange Commission for an initial public offering on Tuesday. The dollar amount and the number of shares have yet to be decided, but US Foods will list on the New York Stock Exchange under the symbol USFD. The company reported a loss of $72.9 million, or 16 cents a share, on revenue of $23 billion in 2014. US Foods said it is the second largest food service distributor in the country with a market share of 9% as of 2014.
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From:: Stock Market News
API data show oil supplies up 2.4 million barrels: sources
The American Petroleum Institute late Tuesday reported that crude supplies rose by 2.4 million barrels for the week ended Feb. 5, according to sources who reviewed the report. That was smaller than the climb of 3.2 million barrels expected by analysts polled by Platts. March crude was at $28.32 a barrel in electronic trading, up from the contract’s settlement of $27.94 on the New York Mercantile Exchange. The more closely-watched Energy Information Administration report is due Wednesday.
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From:: Stock Market News
Panera Bread shares rise after earnings top Street view
Panera Bread Co. shares rose in the extended session Tuesday after the restaurant-bakery chain topped Wall Street earnings estimates for the quarter. Panera shares rose 3.7% to $191.50. The company reported adjusted fourth-quarter earnings of $1.88 a share on revenue of $691.8 million. Analysts surveyed by FactSet had forecast earnings of $1.78 a share on revenue of $695.7 million.
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From:: Stock Market News
‘Star Wars’ drives Disney to record quarterly earnings
Walt Disney Co. late Tuesday said it posted its biggest quarterly earnings ever in the first quarter on the global success of ‘Star Wars: The Force Awakens.” The company reported its earnings jumped to $2.88 billion, or $1.73 a share, from $2.18 billion, or $1.27 a share, in the same quarter last year. Excluding items, the company would have earned $1.63 a share. Revenue grew 14% to $15.24 billion. Analysts surveyed by FactSet had forecast adjusted earnings of $1.45 a share on revenue of $14.79 billion. Its studio entertainment business led the surge in operating income while media networks saw its operating income drop 6%. Despite the robust results, shares of Disney fell 1.9% in after-hours trade.
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From:: Stock Market News
SolarCity shares plunge more than 20% after results
SolarCity Corp. shares tanked 25% late Tuesday as the residential solar installer reported a narrower-than-expected per-share loss but fell short of its 2015 installation goals and predicted a slower-than-expected first quarter. SolarCity swung to an adjusted loss of $232 million in the fourth quarter, or $2.37 a share, compared with an adjusted per-share loss $1.47 in the year-ago period. Revenue reached $115 million in the quarter, up from $72 million a year ago. Analysts polled by FactSet had expected the company to report an adjusted loss of $2.58 a share on sales of $104.5 million in the quarter. The company ended the year installing 870 megawatts of solar power, whereas it had expected to install at least 878 MW for the year as it missed commercial installation goals. It called for 180 MW of solar power installed in the current quarter, a “higher-than-usual” seasonal slowdown due to its decision to close down Nevada operations and a renewed focus on longer lead-time commercial projects, the company said in a statement. SolarCity and other residential solar installers pulled out of Nevada as utility regulators there imposed new rules that made solar less attractive in the state. The stock ended the regular trading session down 5.7%.
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
SolarCity shares plunge more than 20% after results
SolarCity Corp. shares tanked 25% late Tuesday as the residential solar installer reported a narrower-than-expected per-share loss but fell short of its 2015 installation goals and predicted a slower-than-expected first quarter. SolarCity swung to an adjusted loss of $232 million in the fourth quarter, or $2.37 a share, compared with an adjusted per-share loss $1.47 in the year-ago period. Revenue reached $115 million in the quarter, up from $72 million a year ago. Analysts polled by FactSet had expected the company to report an adjusted loss of $2.58 a share on sales of $104.5 million in the quarter. The company ended the year installing 870 megawatts of solar power, whereas it had expected to install at least 878 MW for the year as it missed commercial installation goals. It called for 180 MW of solar power installed in the current quarter, a “higher-than-usual” seasonal slowdown due to its decision to close down Nevada operations and a renewed focus on longer lead-time commercial projects, the company said in a statement. SolarCity and other residential solar installers pulled out of Nevada as utility regulators there imposed new rules that made solar less attractive in the state. The stock ended the regular trading session down 5.7%.
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