Foreclosures | Mortgages | Financing
Appraisal volume lost some of its steam as the year starts to progress past the huge gains witnessed at the beginning of January. Kevin Golden, director of analytics with a la mode, helps explains what could be behind the perplexing data. …read more
From:: Real Estate Wire
U.S. Steel Corp. shares fell in the extended session Tuesday after the steel producer missed Wall Street estimates for the quarter. U.S. Steel shares dropped 10% to $7. The company reported an fourth-quarter loss of $6.83 a share on revenue of $2.57 billion. Analysts surveyed by FactSet had forecast a loss of 88 cents a share on revenue of $2.53 billion. Of U.S. Steel’s $999 million loss on the quarter, $606 million of that was the result of a tax provision, the company said.
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From:: Stock Market News
The American Petroleum Institute late Tuesday reported that crude supplies climbed by 11.4 million barrels for the week ended Jan. 22, according to sources who reviewed the report. The more closely watched EIA report is due Wednesday. On average, analysts polled by Platts show expectations for a crude supply increase of 3.5 million barrels. Following the API data, March crude was at $30.51 a barrel in electronic trading, down from the $31.45 settlement on Nymex.
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
VMware Inc. shares rose in the extended session Tuesday after the virtualization software company topped Wall Street estimates and made good on reports of layoffs. VMware shares advanced 2.7% to $50.59. The company reported adjusted fourth-quarter earnings of $1.26 a share on revenue of $1.87 billion. Analysts surveyed by FactSet expected $1.25 a share on revenue of $1.85 billion. As expected from recent reports, VMware announced the “restructuring and realignment” of about 800 workers and the departure of chief financial officer and chief operating officer Jonathan Chadwick. Zane Rowe will serve as CFO, VMware said.
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From:: Stock Market News
Payments provider Tsys said Tuesday it has agreed to buy TransFirst, a Vista Equity Partners company, in an all-cash deal valued at about $2.35 billion. TransFirst serves more than 235,000 small- and medium-size businesses in the U.S. With the acquisition, Tsys will be the sixth largest U.S. acquirer based on net revenue, supporting more than 645,000 merchant outlets, the company said in a statement. Shares of Tsys rose 0.1% in late trading Tuesday after ending the regular session up 1.7%.
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From:: Stock Market News
Shares of AT&T Inc. slipped in Tuesday’s extended session after the telecommunications giant reported revenue that fell short of analysts’ expectations. Fourth-quarter earnings swung to a profit of $4 billion, or 65 cents a share, from a loss of $4 billion, or 77 cents a share, in the same quarter a year ago. Excluding items, AT&T would have earned 63 cents a share. Revenue climbed 22% to $42.1 billion, mostly due to its purchase of DirecTV. Analysts surveyed by FactSet had forecast earnings of 63 cents a share on revenue of $42.72 billion. The company also said it added net 2.8 million wireless subscribers during the quarter. AT&T shares fell 0.8% in after-hours trading.
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From:: Stock Market News
U.S. stocks ended higher on Tuesday, recovering nearly all the losses from the previous session. The main indexes tracked a rebound in oil prices, which lifted energy and materials shares. The S&P 500 gained 26.55 points, or 1.4%, to 1,903.63. The Dow Jones Industrial Average gained 282.01 points, or 1.8%, to 16,167.23. Meanwhile, the Nasdaq Composite ended the day up 49.18 points, or 1.1%, at 4,567.67.
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From:: Stock Market News
Wal-Mart Stores Inc. is urging shareholders to reject an unsolicited “mini-tender” offer from TRC Capital Corp. dated Jan. 20, 2016 for 2 million shares of the company’s common stock. The offer is for $59.88 per share, about 4.3% less than the closing price on Jan. 19. “Walmart is in no way associated with TRC and recommends that shareholders reject this unsolicited offer,” the company said in a release. Wal-Mart shares are trading up 0.8% on Tuesday, at about $64. Shares are up 10.2% for the past three months compared with the an 8.4% decline for the S&P 500 for the same period.
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From:: Stock Market News
U.S. housing prices in November stayed at 0.5% on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency’s monthly House Price Index. …read more
From:: Real Estate Wire
Cracker Barrel Old Country Store Inc. shares were up 5.4% in Tuesday afternoon trading after the stock was upgraded to buy from neutral at SunTrust Robinson Humphrey, which raised its price target to $151 from $149. Analysts increased their fiscal 2016 and 2017 earnings estimates to $7.66 and $8.50, respectively, based on boosts from falling egg prices and renewal of the Work Opportunity Tax Credit, which will lower the company’s tax rate. SunTrust also raised its fiscal second quarter (ended January) 2016 same-store sales growth estimate to 1.5% from 0.3% based on the continued drop in gas prices, year-over-year comparisons that benefit from recent favorable weather conditions and same-store sales growth in Nov. and Dec. 2015. Analysts also believe there’s potential for a share repurchase program or special dividend. Cracker Barrel shares are down 9.5% for the past three months versus the S&P 500, which is down 8.3%.
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From:: Stock Market News