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PayPal initiated at Cantor Fitzgerald with $45 price target

Analysts at Cantor Fizgerald initiated coverage of PayPal Holdings Inc. with a $45 price target on Monday. The company is set to split from eBay Inc. and will begin trading on July 20. Cantor Fitzgerald analyst Youssef Squali wrote that PayPal’s large addressable market online and offline, plus its strong brand make its shares compelling. He said he expects mid-teens growth in payment volume over the next three-to-five years. Squali said he expects PayPal to garner more than $280 billion in total payable volume with about $9 billion in revenue for 2015. PayPal already holds about a 10% share of the e-commerce payment market, which Squali says is a significant portion. Ebay will report its 2015 second-quarter earnings on Thursday.

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.

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From:: Stock Market News

U.S. Treasury Secretary Jack Lew hails Greek deal as good for global economy

U.S. Treasury Secretary Jack Lew on Monday called a European agreement to bail out a financially strapped Greece for the third time in five years “an import step forward” that is in the “best interests” of the global economy. Lew said the agreement would require difficult steps but that the U.S. will stay “engaged with all parties” to help ensure its success.

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.

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From:: Stock Market News

Netflix stock hits record $711.15 in morning trade

Netflix Inc. stock reached a new intraday high of $711.15 during mid-morning trade on Monday. The stock was trading up 4.4% ahead of the company’s 2015 second-quarter earnings report on Wednesday and a 7-for-1 stock split the same day. The stock has more than doubled in the year-to-date, up 108%. If it holds these levels, Netflix is on track to beat its previous record close of $681.19.

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.

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From:: Stock Market News

Analyst reiterates Apple’s buy rating, downplays China impact

Shares of Apple Inc. rose on Monday after an analyst at Cantor Fitzgerald reiterated his buy rating on the stock. “Although we believe further weakness in China’s stock market could take away some of the ‘bling’ purchases of iPhones, we do not believe this will change the positive momentum for Apple,” said Brian White in a note. He projected further growth in China for Apple with 15% to 20% of Chinese subscribers likely to be candidates for high-end phones in the next five years. The analyst also said Apple is in the midst of a “transformational super cycle” but its prospects are as bright as ever. Apple shares gained 1.2% to $124.69, up for a second session in a row. The stock fell 2.5% last week, its worst weekly decline since middle of January. White’s 12-month price target for Apple is $195.

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.

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From:: Stock Market News

Clinton says trade agreements should meet ‘high bar’

Hillary Clinton said Monday trade agreements the U.S. enters into should have a “high bar” and Washington should walk away if it’s not met. Delivering a speech on the economy in New York City, Clinton said the Greek debt crisis and the downturn in Chinese stocks are reminders of how global growth is linked and trade is fundamental. Trade agreements should raise wages and create jobs, she said.

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.

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From:: Stock Market News

Netflix on track for record close

Netflix Inc. stock is on its way toward a record close. Shares of Netflix were up 3.3% in early trade on Monday, trading at as much as $703.56. Neflix’s previous record close was $681.19, and its intraday high was $706.24, according to FactSet. The company reached both of those in June. Netflix shares have more than doubled in the year-to-date, up 106%, while the S&P, which is up 1.8% in the year. Netflix will report its 2015 second-quarter earnings on Wednesday after the bell.

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.

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From:: Stock Market News

Greece aims to end bank holiday Thursday: report

The Greek government plans to extend the country’s bank holiday for two more days, Reuters reported Monday, citing bankers who spoke with Greece’s deputy finance ministry. Greek banks have been closed since June 29. Greece also imposed capital controls, limiting withdrawals to 60 euros a day. The precise timing of the reopening of the country’s banks, however, will depend on the European Central Bank. Greek banks were forced to close after the ECB capped emergency liquidity assistance for the institutions, and is seen as unlikely to raise the cap at least until the Greek parliament implements reform measures that would clear the way for a formal negotiation of a third bailout, economists say.

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.

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From:: Stock Market News

U.S. stocks open higher as Greece agrees to bailout deal

U.S. stocks began the week on an upbeat note, with the main indexes gaining on Monday, after eurozone leaders over the weekend reached an agreement for a third bailout program for Greece. The deal will now have to be approved by national parliaments, including in Greece, before the formal negotiations can begin. The formal decision is expected by the end of the week. The S&P 500 opened 15 points, or 0.7%, higher at 2,090. The Dow Jones Industrial Average jumped 136 points, or 0.7%, to 17,898. The Nasdaq Composite began the day up 42 points, or 0.8% to 5,039.

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.

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From:: Stock Market News

Palm Beach medical office buildings hit with $10M foreclosure

By Brian Bandell

A pair of medical office buildings near Boynton Beach have been targeted by a $10 million foreclosure lawsuit.

U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, filed a foreclosure lawsuit June 23 against El Clair Ltd. It targets the 60,500 square feet of medical office space at 6080 Boynton Beach Blvd., surrounded by residential neighborhoods.

The managing member of the borrower is Kerry A. Greenwald in Boca Raton. He wasn’t named in the complaint.

CMBS analysis… …read more

From:: biz journal foreclosures

Fitbit rated a buy at several Wall Street banks

Fitbit Inc. was initiated at buy at a handful of Wall Street brokerages on Monday as a post-IPO quiet period was lifted and analysts touted the company’s large market share and flourishing wearables market. The fitness tracker was started at buy at Deutsche Bank and SunTrust Robinson Humphrey, which both set 12-month price targets of $50 on the stock, and at Stifel, which initiated with a price target of $57. PiperJaffray initiated coverage on Fitbit at overweight, which is the equivalent to buy, and set a price target of $52. “We believe our existing estimates are conservative given the traction of the recent product launches and the growing global distribution potential,” PiperJaffray analyst Erinn Murphy said in a note to clients. Morgan Stanley and Barclays were slightly more conservative, starting Fitbit at equal weight with $42 and $45 price targets, respectively. Barclays said the stock is “just a bit expensive.” Shares of Fitbit climbed 1.5% to $42.70 in premarket trade. They have risen 10.1% since their first day of trade on June 18.

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.

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From:: Stock Market News

Featured Tag
Achieving Financial Wellness in 2018 and Beyond

By Susanne Dwyer

Financial security during your working years, and in retirement, is a top priority for every member of the National Association of REALTORS® (NAR). However, since most members work as independent contractors, or brokerage owners/managers, they don’t have access to employer retirement savings plans, making it especially challenging to plan for long-term financial security.

Many REALTORS®, including those who are enjoying success in their careers, do not achieve basic financial planning goals. NAR research shows that:

  • 43 percent are not saving for retirement
  • 42 percent do not feel prepared for a financial emergency
  • Only 46 percent are “completely confident” they can retire when they are ready

Adding to the problem, REALTORS® tend to be extremely busy and preoccupied with helping clients. Early in their career, it’s easy to postpone retirement planning; later, it’s tempting to assume it’s too late to make meaningful improvements.

Turning the Corner
Changing course requires action. Recognizing the importance of the challenge, 2017 NAR President Bill Brown pledged to help members take charge of their financial lives. He convened a Presidential Advisory Group (PAG) of REALTORS® from across the country chaired by NAR Past President Sharon Millett, and met twice for a total of four days to identify and recommend steps to support members’ financial strength through education and other resources. Major recommendations and initiatives stemming from the PAG’s work include:

  1. New Financial Wellness Program
    The PAG’s top recommendation focused on engaging members on the importance of financial wellness and wealth-building, including negotiating with a national financial services firm to provide personalized financial and investment planning services with valuable member benefits for those that participate.

This past November, NAR announced that Bank of America Merrill Lynch had been selected to develop a financial wellness program with customized member benefits. The program will include personalized financial education services, as well as online resources and financial workshops designed to assist NAR members with achieving their financial goals based on age, life stage and needs.

The new Bank of America Merrill Lynch services will be offered through NAR’s REALTOR Benefits® Program. Later this year, watch for a new interactive website (at www.NAR.realtor/Retirement) with worksheets and personal assessments, as well as planning tools that deliver an understanding of budgeting, goal-setting, planning, saving, and investing.

  1. Investing in Real Estate
    Even though REALTORS® are intimately familiar with the benefits of building wealth through real estate, only 30 percent of members own investment properties. NAR’s eight-hour course titled “Real Estate Investing: Build Wealth Representing Investors and Becoming One Yourself” is an excellent resource for honing a smart investment strategy. To learn more about the course and current classroom offerings, visit training4re.com.
  1. Selling Your Business
    With proper planning, many brokers, agents and teams can position their business to be a salable asset upon retirement. NAR’s commitment to financial wellness includes developing best practice tools and “how-to” advice for preparing well-documented records and systems that can help you monetize your book of business at the time of a sale or merger.
  1. Regional Events
    To continue raising awareness and provide additional learning …read more

    From:: Real Estate News

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