Foreclosures | Mortgages | Financing
Altavera Mortgage Services, a provider of third-party residential mortgage origination services, announced the addition of Debora Aydelotte as the company’s chief operating officer. Aydelotte joins Altravera from Altisource Origination Services. While at Altisource, Aydelotte was named a HousingWire Magazine Woman of Influence in 2014. …read more
From:: Real Estate Wire
Demand for Home Equity Lines of Credit started to surge last year. And given the future increases in mortgage interest rates, a new report from Black Knight predicts that demand is only going to grow. …read more
From:: Real Estate Wire
A Brooklyn man is currently in police custody after being arrested for posing as a real agent and swindling a prospective client out of thousands of dollars. According to a report from CBS New York, Nassau Country police arrested 33-year-old James Cadet for allegedly renting out an apartment he didn’t own and stealing more than $2,000 in the process. …read more
From:: Real Estate Wire
Skullcandy Inc. shares dropped in the extended session Monday after the headphone maker cut its guidance for the fourth quarter. Skullcandy shares, which had been halted at $4.60 before the announcement, fell 18% to $3.75 after hours. Skullcandy said it expects fourth-quarter earnings of 20 cents to 22 cents a share, down from its previous forecast of 38 cents to 40 cents a share, because of disappointing holiday sales and a shift in gross margins. Analysts surveyed by FactSet had estimated earnings of 37 cents a share.
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From:: Stock Market News
Cray Inc. late Monday said it raised its 2015 revenue outlook to a range of $720 million to $725 million from its previous target of $715 million and reiterated that it expects to be “solidly profitable.” The supercomputer company also maintained its revenue forecast of $825 million for 2016. Analysts surveyed by FactSet are projecting 2015 revenue of $716.8 million and $818 million this year. Shares of Cray fell 1.9% in after-hours trading.
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
Burlington Stores Inc. shares rose more than 8% in late trading Monday after the off-price retailer said it expects flat comparable-store sales in the fourth quarter, and forecast its net sales to increase by 3.7% in the quarter, at the lower end of its previous guidance of an increase between 3.7% and 4.7% in net sales. Burlington had expected comparable-store sales to be flat to up 1% previously. The company expects a fourth-quarter adjusted net income between $1.44 a share and $1.46 a share, compared with prior expectations of $1.44 a share to $1.48 a share. Increases in sales of gift items such as perfumes, bath and body items, and home goods have been offset by “headwinds” affecting cold-weather items such as coats and outerwear, Burlington said. Shares of Burlington ended Monday up 2.8%.
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
Mark Parker, chief executive officer of Nike Inc. , has been elected to Walt Disney Co.’s board, the media and entertainment company said Monday. The addition of Parker to the board brings the number of directors to 12. Other Disney board members include Jack Dorsey, chairman and CEO of Twitter Inc., Sheryl Sandberg, chief operating officer of Facebook Inc., and John Chen, CEO of Blackberry Ltd.
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From:: Stock Market News
Apollo Education Group Inc. shares jumped in the extended session Monday following a report that a private-equity group is in late talks to acquire the parent company of the University of Phoenix. Apollo Education shares surged 20% to $7.64. Private-equity firm Apollo Global Management is in advanced talks to buy Apollo Education for about $1 billion, according to a Dow Jones Newswires report, citing people close to the matter.
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From:: Stock Market News
Alcoa Inc. said Monday it lost $500 million, or 39 cents a share, in the fourth quarter, versus earnings of $159 million, or 11 cents a share, in the year-ago period. Adjusted for one-time items, the industrial giant earned $65 million, or 4 cents a share, in the quarter. Sales reached $5.2 billion, down 18% from $6.4 billion in the fourth quarter of 2014. Analysts polled by FactSet had expected adjusted earnings of 2 cents a share on sales of 5.3 billion for the company. “Value-add” businesses such as engineered and rolled products made up for lower alumina and aluminum prices, the company said. Alcoa said it was on track with its plan to split in two publicly traded companies, one focusing on raw materials and another on engineered products and transportation and construction businesses. Shares of Alcoa rose 1.4% in late trading Monday after ending the regular session down 0.9%.
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From:: Stock Market News
Shares of Lululemon Athletica Inc. jumped in Monday’s extended session after the yoga apparel company raised its fourth-quarter outlook for both revenue and earnings due to a strong holiday sales. The company said it now expects revenue in a range of $690 million to $695 million versus its earlier guidance of $670 million to $685 million. Lululemon also increased its earnings-per-share projection to 78 cents to 80 cents from 75 cents to 78 cents. Analysts surveyed by FactSet are forecasting revenue of $679 million and EPS of 77 cents for the quarter. Shares rallied 6% in after-hours trading.
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