Foreclosures | Mortgages | Financing
A solution for the current credit score system is a trending topic in the industry. What if the solution is to not use the FICO method at all? While it’s likely this isn’t for everyone, it works for this mortgage industry disrupter. …read more
From:: Real Estate Wire
Aiming to pull back the curtain on the practice of secret buyers using shell companies to funnel cash into luxury real estate, the U.S. government will now require real estate companies to disclose the names of all-cash buyers on high-end properties. …read more
From:: Real Estate Wire
Oil prices turned slightly lower on Wednesday after the U.S. Energy Information Administration reported that supplies of gasoline and distillates jumped last week, even as crude stockpiles also edged higher. Crude inventories climbed by 200,000 barrels for the week ended Jan. 8. The American Petroleum Institute on Tuesday reported a 3.9 million-barrel decline, according to sources. Analysts polled by Platts expected supplies to be up 2 million barrels. Gasoline supplies increased by 8.4 million barrels, while distillate stockpiles added 6.1 million barrels last week, according to the EIA. February crude traded at $30.12 a barrel on the New York Mercantile Exchange, down 32 cents, or 1.1%. Prices traded at $30.87 before the data.
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
Apple Inc.’s stock rose 0.4% in morning trade Wednesday, putting it on an early track to post a fourth-straight gain. That would be the longest win streak for the stock since the five-session stretch of gains ending Sept. 16, 2015. Late Tuesday, both IDC and Gartner reported that Apple was the only major personal computer maker to show year-over-year PC sales growth during an overall dreary holiday shopping season for the industry. Apple shares have gained 4.1% during its current win streak, but are still down 10% over the past three months, while the Dow Jones Industrial Average has slipped 3.1%.
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
KaloBios Pharmaceuticals Inc.’s stock plunged 92% in morning trade Wednesday, as its delisting from the Nasdaq exchange has allowed it to resume trade for the first time in a month. The bankrupt drug maker’s stock, which is now trading over-the-counter, was halted on Dec. 17 after majority owner Martin Shkreli was arrested on fraud charges. The stock last changed hands at $2, which was 3.4% below where it closed on Nov. 18 at $2.07, before the company announced that Shkreli had taken control of the company. The stock then soared to a closing high of $39.50 on Nov. 23 before pulling back.
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 opened higher on Wednesday, extending gains to a third straight day as higher oil prices lifted sentiment. The main indexes were on track to claw back some of the losses during the brutal first week of the year. The S&P 500 opened 7 points, or 0.4%, higher at 1,947. The Dow Jones Industrial Average added 60 points, or 0.4%, to 16,573. Meanwhile, the Nasdaq Composite began the day up 18 points, or 0.4%, at 4,703.
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
Goldcorp Inc.’s stock slumped 1.2% in premarket trade Wednesday, after the gold miner was downgraded at Credit Suisse, which cited potential headwinds from a CEO transition and concerns over the production outlook. Analyst Anita Soni cut her rating to neutral, after being at outperform since September 2014. She lowered her stock price target to $14, which is 22% above Tuesday’s closing price of $11.44, from $15.50. Soni said the transition to a new chief executive could create uncertainty about the strategy and the outlook for the company. The company said last month that CEO Chuck Jeannes will retire in April, and will be succeeded by David Garofalo, who is currently the CEO of HudBay Minerals Inc. . Soni said some production delays and grade declines could weigh on free cash flow this year. The stock has tumbled 30% over the past six months, while the Market Vectors Gold Miners ETF has shed 19% and the S&P 500 has lost 7.7%.
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
MetLife Inc.’s stock soared 8.1% in premarket trade Wednesday, with analysts cheering the insurer’s plan to spinoff its U.S. retail business, in an effort to fend off regulatory burden that would accompany a federal designation of “systemically important financial institution.” Credit Suisse analyst Thomas Gallagher raised his stock price target to $60 from $57, saying the company’s “bold move” creates better visibility on future capital returns. “Our bottom line on the announcement is that we think it is the right short term and long term direction for the company and is a meaningful positive for the valuation of the stock, especially at the current depressed levels,” Gallagher wrote in a note to clients. The stock, which closed Monday at the lowest level since May 2013, has tumbled 26% over the past six months, while to S&P 500 has slipped 7.7%. Deutsche Bank analyst Yaron Kinar, who said he previously thought the capital infusion required for a spinoff would make the idea too onerous, said the plan announced late Tuesday “is a positive in and of itself, as it suggests that management sees the separation as viable.”
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) – New Dallas Fed President Robert Kaplan said Wednesday that he is closely watching the “tough start” to financial markets in 2016, but said it was important not to overreact to the move. “It takes time to figure out what the market may be saying to us,” Kaplan said in an interview with Bloomberg News. While exports and manufacturing are relatively small parts of the U.S. economy, “it is a much higher percentage of the profitability of the S&P 500,” Kaplan said. “So when you see particular weakness outside the United States in China and emerging-market economies, it affects our companies, it affects their profitability, it affects the market to a greater degree than it might affect the underlying economy,” he said. Kaplan is a former Goldman Sachs investment banker. He joined the Dallas Fed in August. Kaplan, who described himself as a “centrist” on monetary policy, is not a voting member of the Fed policy committee this year.
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) – The expectation from the Federal Reserve’s own forecasts of four quarter-point interest rate hikes in 2016 is a “reasonable estimate,” but such a forecast does have “downside risks,” said Boston Fed President Eric Rosengren on Wednesday. These risks reflect weakness overseas and only “limited data” supporting the Fed’s forecast that inflation will rise to the its 2% target by 2018, Rosengren said in a speech to the Greater Boston Chamber of Commerce. The Boston Fed President is a voting member of the Fed’s policy committee this year. Rosengren is often on the dovish side of Fed interest-rate policy debates although he strongly supported the first rate hike in December.
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