Foreclosures | Mortgages | Financing
ComplianceEase, a provider of automated compliance solutions to the financial services industry, announced earlier this week that it launched a new web solution, VOE Xpress, that provides independent authentication of borrower employment and income. …read more
From:: Real Estate Wire
The U.S. Navy has awarded Boeing Co. a $2.5 billion modification to a previously awarded, fixed-price contract for manufacturing and delivering 16 P-8A “Poseidon” aircraft for the Navy and four for Australia, according to a Department of Defense web site. The Poseidon’s primary function includes anti-submarine warfare, and intelligence, surveillance and reconnaissance. Shares of Boeing were flat in late trading Thursday after ending the regular session up 1.2%.
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From:: Stock Market News
Fortinet Inc. shares jumped in the extended session Thursday after the cybersecurity company topped Wall Street estimates for the quarter. Fortinet shares surged 14% to $30 after hours. The company reported adjusted fourth-quarter earnings of 18 cents a share on revenue of $296.5 million. Analysts surveyed by FactSet had forecast earnings of 7 cents a share on revenue of $277.2 million. Separately, Fortinet said its board authorized a $200 million share buyback program.
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From:: Stock Market News
Loan officers and real estate agents need each other to thrive in their respective businesses. To help loan officers figure out how to best cultivate this relationship, MGIC teamed up with Bill Gassett, a real estate agent based in Massachusett, to create a list of ways loan officer can work better with real estate agents. …read more
From:: Real Estate Wire
Western Digital Corp. late Thursday reported its fiscal second-quarter earnings fell to $251 million, or $1.07 a share, from $438 million, or $1.84 a share, in the same period last year. On an adjusted basis, the maker of computer disk drives would have earned $1.60 a share. Revenue also shrank to $3.32 billion from $3.88 billion. Analysts surveyed by FactSet had forecast earnings of $1.54 a share on revenue of $3.35 billion. The company did not provide any additional details on its pending buyout of SanDisk Corp. but Chief Executive Steve Milligan cited the “challenging global economic environment” in his earnings statement. Western Digital shares were flat in after-hours trading after rallying 4.6% in the regular session.
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From:: Stock Market News
Visa Inc. said Thursday it earned an adjusted $1.7 billion, or 69 cents a share, in the fiscal first quarter of 2016, up 10% from the year-ago period. Revenue hit $3.56 billion in the quarter, up from $3.38 billion a year ago. Analysts polled by FactSet expected the credit-card company to report adjusted earnings of 68 cents a share on sales of $3.6 billion. Payments volume growth was 12% over the prior year at $1.3 trillion, Visa said. Processed transactions rose 8% year-on-year. Visa warned, however, that “continued moderating cross-border volume growth and subdued domestic activity” across its markets could affect full year results. Shares of Visa rose 2.4% in late trading Thursday after ending the regular session down 2.2%.
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From:: Stock Market News
Shares of Amazon.com Inc. tumbled 11% in after-hours trade following the company’s weaker-than-expected earnings report. The company reported net income of $482 million, or $1 a share, compared with $214 million, or 45 cents, in the year-earlier period. The results fell sharply below analyst expectations of $1.55. Sales for the period were up 22% to $35.7 billion, slightly below the FactSet consensus estimate of $35.9 billion. For the current quarter, Amazon sees revenue between $26.5 billion and $29 billion, versus the Street estimate of $27.6 billion. The company reported a 51% increase in Prime membership, though it did not give specific membership numbers. Net sales for Amazon Web Services came in at $2.4 billion, in-line with FactSet expectations, and up from $1.4 billion last year.
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From:: Stock Market News
Microsoft Corp. shares rallied in the extended session Thursday after the company topped Wall Street estimates for the quarter. Microsoft shares surged 7.9% to $56.15 after hours. The company reported fiscal second-quarter earnings of 62 cents a share on revenue of $23.8 billion, or 78 cents a share on revenue of $25.69 billion adjusted. Analysts surveyed by FactSet had forecast earnings of 71 cents a share on revenue of $25.27 billion. Microsoft said cloud-services revenue rose 5% to $6.3 billion for the quarter.
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From:: Stock Market News
​Shares of Electronic Arts Inc. skidded in Thursday’s extended trade after the video game publisher posted better-than-expected earnings but missed on revenue. EA reported it swung to a fiscal third-quarter loss of $45 million, or 14 cents a share, from a profit of $142 million, or 44 cents a share, in the same period last year. On an adjusted basis, the company would have earned $1.83 a share. Revenue fell to $1.07 billion from $1.13 billion. Analysts surveyed by FactSet had forecast earnings of $1.81 a share on revenue of $1.81 billion. EA also raised its 2016 adjusted earnings-per-share outlook to $3.04 a share from $3 a share as well as its adjusted net revenue forecast to $4.52 billion versus $4.5 billion. Shares of EA sank 11% in the after-hours session.
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From:: Stock Market News
Shares of Amazon.com Inc. shot up 7.8% in afternoon trade Thursday, as investors prepped for the e-commerce giant’s fourth-quarter results due out after the close. The price change of $45.40 would rank as the third-biggest ever since the stock went public in May 1997. The pre-results really might seem a bit ambitious, but the stock has soared an average of about 11%–median of about 12%–the day after the last four earnings reports, according to FactSet data. Options traders are pricing in a one-day post-results move, in either direction, of 8.3%. And two of the other three FANG stocks that have reported posted strong gains after their quarterly results. Facebook’s stock shot up 16% Thursday, after reporting results late Wednesday. The last time Google parent Alphabet Inc. reported results in October, the stock surged 5.6% the day after. Alphabet reports fourth-quarter results on Feb. 1. Meanwhile, the day after Netflix Inc. reported following the Jan. 19 close, the stock slipped 0.1%, and has tumbled 12% since.
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From:: Stock Market News