Harley-Davidson reports profit and revenue decline

Harley-Davidson Inc. reported third-quarter net income of $68.2 million, or 40 cents per share, down from $114.1 million, or 64 cents per share, for the same period last year. The FactSet consensus was 39 cents. Revenue totaled $962.1 million, down from $1.09 billion last year but ahead of the $952.0 million FactSet estimate. Harley-Davidson noted that while its U.S. motorcycle sales were down 8.1% year-over-year, the overall U.S. industry was down 9.2% for the period. The company continues to expect to ship 241,000 to 256,000 motorcycles to dealers around the world in 2017 down 6% to 8% from last year. In the fourth quarter the company expects to ship 46,700 to 51,700 in the fourth quarter compared with 42,414 last year. Harley-Davidson shares are inactive in Tuesday premarket trading, and down 20.2% for the year so far. The S&P 500 index was up 14.2% for 2017 so far.

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UnitedHealth Group reports Q3 earnings beat, revenue miss

UnitedHealth Group Inc. reported a third-quarter earnings beat and revenue miss early Tuesday. Earnings for the latest quarter rose to $2.56 billion, or $2.51 per share, from $1.98 billion, or $2.03 per share in the year-earlier period. Adjusted earnings-per-share were $2.66, above the FactSet consensus of $2.56. Revenue rose to $50.32 billion from $46.29 billion, below the FactSet consensus of $50.37 billion. The latest results include $1.6 billion less in year-over-year consolidated revenues, related to the company’s withdrawals from Affordable Care Act markets, which the company said affects comparability of 2017 results with prior periods. Results also include the negative impact of health insurance tax deferral, the company said, and a 17% increase in revenues related to medical benefit products for seniors and Medicare products. The company’s pharmacy-benefit manager unit, Optum, also grew revenues year-over-year by 8%. UnitedHealth now expects 2017 EPS to approach $9.45 per share and adjusted net earnings to approach $10.00 per share, compared with previous 2017 net earnings guidance of $9.20 to $9.35 per share and adjusted net earnings of $9.75 to $9.90 per share. UnitedHealth shares were not active in premarket trade. Shares have risen 3.7% over the last three months, compared with a 4% rise in the S&P 500 .

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From:: Stock Market News

Johnson & Johnson’s stock jumps after profit and sales beat, raised outlook

Shares of Johnson & Johnson rallied 1.4% in premarket trade Tuesday, after the drug and consumer products company beat third-quarter earnings expectations and raised its full-year outlook. Net income fell to $3.76 billion, or $1.37 a share, from $4.27 billion, or $1.53 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.90, above the FactSet consensus of $1.80. Revenue rose to $19.65 billion from $17.82 billion, beating the FactSet consensus of $19.29 billion. Pharmaceutical sales increased 15% to $9.7 billion, topping the FactSet consensus of $9.3 billion, while consumer sales growth of 2.9% to $3.4 billion matched expectations. The company raised its 2017 revenue outlook to a range of $76.1 billion to $76.5 billion from $75.8 billion to $76.1 billion and its adjusted EPS outlook to $7.25 to $7.30 from $7.12 to $7.22. The stock has rallied 18.2% year to date through Monday, while the SPDR Health Care Select Sector ETF has climbed 19.0% and the Dow Jones Industrial Average has advanced 16.2%.

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From:: Stock Market News

Huge Uber-Softbank deal could come within days, Huffington says

Softbank Group Corp.’s long-rumored multi-billion-dollar investment in Uber Technologies Inc. could be finalized within the next week, Uber board member Arianna Huffington said Monday night. Speaking at the WSJ D.Live conference in Laguna Beach, Calif., Huffington said the Japanese conglomerate is seeking a 14% to 20% stake in the San Francisco-based ride-hailing giant. She said Uber was still waiting for the right price, though she did not disclose any numbers. Separately, Recode reported late Monday that Softbank was considering the creation of a second investment fund, possibly even bigger than its current $93 billion Vision Fund.

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From:: Stock Market News

Several Mortgage-Related Events in November

A number of mortgage-related conferences and events are on the calendar for the rest of this year — including several that take place next month. Some events address secondary marketing issues.

On Nov. 1, the Urban Institute and CoreLogic Inc. are hosting the Housing Finance, Affordability, and Supply in the Digital Age. It’s the fifth annual such housing symposium.

This free symposium will explore housing policy changes, the economic outlook for the housing market and market opportunities for reaching emerging markets. Also to be covered are affordability challenges in the residential housing supply and the impact of technology and digital advances on housing finance.


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From:: Financing

LiveXLive seeks to raise up to $123.8 million in IPO

LiveXLive Media Inc. plans to raise up to $123.8 million in its initial public offering, according to a Securities and Exchange Commission filing late Monday. The Beverly Hills, Calif.-based live-music video content site said will offer 7.7 million shares at $12 to 14 apiece, with underwriters getting an additional 1.2 million shares to cover overallotments. BMO Capital markets is listed as the sole book-running manager. The company plans to list with the ticker “LXL” on the New York Stock Exchange. LiveXLive reported 2016 revenue of $36.7 million and a net loss of $6.6 million, or $10.5 million to common shareholders.

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Sonic shares fall 3% after same-store sales falter after Hurricane Harvey

Shares of Sonic Corp. fell more than 3% late Monday after the fast-food company reported weaker-than-expected same-store sales in the fourth quarter of fiscal 2017, pinning the decline in part to devastation brought on by Hurricane Harvey and marketing failures. Sonic said it earned $20.8 million, or 50 cents a share, compared with $25.4 million, or 53 cents a share, in the same period of last year. Adjusted for one-time items, Sonic earned 45 cents a share, the same as last year’s period. Sonic’s sales reached $123.6 million, down from $162 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 43 cents a share on sales of $126.1 million. Same-store sales fell 3.3% in the quarter. The analysts surveyed by FactSet had expected a decline of 1.6% for same-store sales.

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From:: Stock Market News

Microsoft CEO gets $20 million in total compensation

Microsoft Corp. Chief Executive Satya Nadella is getting at $2.3 million raise this year. Nadella’s total compensation is valued at $20 million, up from $17.7 million in 2016, according to a filing with the Securities and Exchange Commission Monday. The CEO receives a $1.45 million cash salary, $11.4 million in stock awards, and up to a $7 million cash bonus. Nadella received $18.2 million in total compensation in 2015. Jean-Philippe Courtois, president of global sales, marketing and operations is Microsoft’s second highest paid executive with $18.2 million in total compensation, according the the SEC filing. Microsoft stock was flat at $77.65 after hours. Shares in the Redmond, Wash.-based company are up 25% this year, with the S&P 500 index up 14%.

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Netflix shares gain after company adds more subscribers than expected in Q3

Netflix Inc. shares popped more than 2.5% after the streaming giant reported earnings for the third quarter in which it added more subscribers than expected. Netflix reported net income of $129.6 million, or 29 cents per share, up from income of $51.5 million, or 12 cents per share during the same quarter a year ago. FactSet’s earnings consensus was for 32 cents per share. Revenue for the third quarter was $2.98 billion, up from $2.29 billion a year ago and slightly above FactSet’s consensus of $2.97. Netflix continued added 5.3 million subscribers in the quarter, an increase compared with the 3.6 million the company added during the same quarter last year. The company had guided for net additions of 4.4 million and FactSet’s subscriber adds consensus was 4.5 million. Shares of Netflix have gained nearly 64% in the year to date, while the S&P 500 index is up more than 14% and the Dow Jones Industrial Average is up close to 16%.

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From:: Stock Market News

San Francisco: The Sweet Spot for Trick-or-Treaters

By Susanne Dwyer

Zillow Trick-or-Treat Index 2017 (PRNewsfoto/Zillow)

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

The annual Trick-or-Treat Index from Zillow puts San Francisco in the sweet spot: No. 1 for trick-or-treaters.

Zillow Trick-or-Treat Index 2017 (PRNewsfoto/Zillow)

Analysts at Zillow began with the Zillow Home Value Index (ZHVI), concocting a formula that includes home values, how close homes are in proximity to each other, and the share of 10-year-olds (and younger) in a given market. Bubble, bubble…

“Searching for neighborhoods with the best candy is a Halloween tradition for many kids and their parents,” says Dr. Svenja Gudell, chief economist at Zillow. “Our annual list is a fun way for families to see how their neighborhood stacks up against others when it comes to trick-or-treating. These are places we think will have plenty of candy and lots of young kids running around from door to door.”

In the City by the Bay, the top three neighborhoods for trick-or-treaters are Presidio Heights, Sea Cliff and Golden Gate Heights; in No. 2 San Jose, the top three are West San Jose, Willow Glen and Cambrian Park.

Is your city out of the running this year? Fear not.

“If you don’t live in one of these cities, look for areas that are getting into the Halloween spirit with decorations and lots of costumed kids,” Gudell says.

See the 2016 Trick-or-Treat Index.

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

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From:: Real Estate News