Antares Pharma stock plunges more than 30% after FDA letter

Antares Pharma Inc. announced Thursday that the U.S. Food and Drug Administration had found deficiencies in the drug Xyosted (testosterone enanthate) during its review process, the company said in a statement. Shares plummeted more than 30% to $2.60 after hours. The FDA did not specify what the deficiencies are but did say that it would prevent moving forward with labeling and postmarketing requirements and commitments at this point. Antares submitted the Xyosted application in December 2016. Antares stock was up 60% this year, based on today’s closing price, with the S&P 500 index up 14.1%.

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From:: Stock Market News

Analyst hikes Nvidia price target to $220

Nvidia Corp. is a $220 stock, says RBC Capital Markets analyst Mitch Stevens, who hiked his price target Thursday from a prior $205. Nvidia stock edged down less than 1% to $190.65 after hours. In a note to investors, Stevens wrote that his bull case reflects earnings of $10 per share by fiscal year 2021. What will propel shares to $220 and beyond is the chip company’s data center hardware and increased revenue from its gaming segment due to the higher costs of virtual reality hardware and more stable trends in the core segment, he said. Self-driving vehicles, which Nvidia has made significant bets on, will also drive the company’s stock. Cryptocurrency mining will add a “moderate boost” as well since miners use some Nvidia GPUs. Investors have sent Nvidia stock up 79% this year, with the S&P 500 index rising 14.1%.

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From:: Stock Market News

Fed officials disagree on need for interest-rate hike in December

Federal Reserve officials disagreed Thursday about the need for more interest rate hikes. St. Louis Fed President James Bullard told Business Insider that there was “no hurry to raise rates” with inflation below target. But, in an interview with CNBC, Boston Fed President Eric Rosengren said he thought another interest rate would be appropriate in December. He said that the Fed had to consider how much asset prices are likely to go up if the central bank doesn’t continue to raise rates at a gradual pace. Stocks are fully priced, the Boston Fed president said.

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From:: Stock Market News

Home Haunted? No Problem, New Survey Shows

By Susanne Dwyer

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

Would you ever live in a haunted home? A new survey from realtor.com® shows most folks won’t shy away from a spooky space—so long as the price is right.

In September, realtor.com surveyed more than 1,000 online respondents. The verdict? Thirty-three percent were open to living in a haunted house, 25 percent might be, and 42 percent are not open to the idea.

So what factors impacted these results? Let’s explore:

  • Forty percent of respondents indicated that they need a price reduction in order to choose a haunted home over a non-haunted home;
  • 35 percent require a better neighborhood;
  • 32 percent need larger square footage; and
  • 29 percent would do so if more bedrooms are involved.

Who minds a few spooky spirits if there’s a third bedroom, amiright? From the survey, 47 percent of participants indicate they would live in a home where someone died, 27 percent said they might, and 26 percent said they would not.

The survey also showed certain paranormal activities are preferred over others. Forty-eight percent of those surveyed didn’t mind a few cold or hot spots in their home, whereas 45 percent could get down with unexplainable noises, and 39 percent are willing to tolerate strange, freaky feelings in certain rooms. Thirty-five percent of folks could deal with shifting shadows, but only 20 percent were alright with levitating objects or the sensation of being touched.

Of those surveyed, 28 percent believed they already have lived in a haunted house, with 14 percent unsure and 58 percent quite sure they’ve never been haunted.

What do you think? Would you be willing to room with a ghoul for more square footage, a lower price tag or a finished basement?

View more from the survey.

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

Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.

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

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From:: Real Estate News

Tesla to recall some Model X SUVs for seat adjustment

Tesla Inc. said Thursday it is voluntarily recalling some Model X SUVs for an adjustment to the vehicles’ second-row seats. A small number of cables in the second row, fold-flat seats in some 2016 and 2017 Model X models may need the tweak, the company said. Tesla has not received reports of any issues or accidents relating to the issue, but will conduct the recall to inspect affected vehicles, a company spokesperson said. “Although we have never seen any incidence of it in the field, internal testing has indicated that if the cable is not properly adjusted, the seat back on the left side of the second row seats could move forward during a crash,” Tesla said. Tesla customers will have a choice to bring their car to a Tesla service center or use the company’s mobile service to conduct repairs. Tesla shares were flat in after hours and ended the regular session up 0.3%.

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From:: Stock Market News

John Taylor met Trump about Fed chair post

President Donald Trump met with Stanford University economist John Taylor in the search for a new chairman of the Federal Reserve, a White House official said Thursday, according to media reports. Taylor is best known for the eponymous rule he developed to help the Fed make interest-rate decisions. Taylor has been critical of the central bank’s response to the financial crisis. House Republicans hold Taylor in high regard. They have pushed legislation that would require the Fed to follow the “Taylor rule” or a similar interest-rate formula.

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From:: Stock Market News

Dow ends lower, retreats from records as Goldman, UnitedHealth weigh

U.S. stocks finished lower Thursday, retreating from records set in the previous session, as investors parsed the first of a batch of third-quarter corporate results from the banking sector. The Dow Jones Industrial Average closed 32 points, or 0.1%, lower at 22,841. Blue-chip components UnitedHealth Group Inc. and Goldman Sachs Group Inc. pressured the price-weighted gauge. The S&P 500 index closed down 0.2% at 2,550, while the Nasdaq Composite Index retreated 0.2% at 6,591. All three benchmarks closed at records in the previous session. In corporate news, J.P. Morgan Chase & Co. posted earnings and revenue that beat expectations, but its trading revenue was weak amid a quiet period for markets. Its shares ended off 0.9%. Meanwhile, shares of Citigroup , which reported a higher-than-expected profit, slid 3.4%, The Financial Select Sector SPDR ETF , which gauges banks and insurers, lost 0.8%. Health-care stocks were mixed after President Donald Trump signed an executive order directing federal agencies to consider expanding health-insurance coverage in low-cost plans that aren’t subject to Affordable Care Act rules. The announcement appeared to weigh on UnitedHealth.

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From:: Stock Market News

Eaton Vance boosts dividend by 11%

Asset manager Eaton Vance Corp. said Thursday it will raise its quarterly dividend by 11% to 31 cents a share from 28 cents a share. The new dividend will be payable Nov. 15 to shareholders of record on Oct. 31. The stock was up 0.5% to $50.59 in afternoon trade. At that price, the new annual dividend rate would represent a dividend yield of 2.45%, compared with the implied S&P 500 dividend yield of 1.95%, according to FactSet. Eaton Vance’s stock has rallied 21% year to date, while the S&P 500 has gained 14%.

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From:: Stock Market News

Citi Mortgage Earnings, Lending Down From Year Ago

While company-wide earnings improved at Citigroup Inc., mortgage earnings deteriorated from a year ago. It was a similar story for home-lending activity, as the company continued to reduce its third-party servicing portfolio.

The New York-based financial conglomerate said in its third-quarter earnings report that income from continuing operations before income taxes was $6.0 billion. Earnings improved from $5.7 billion in the prior three-month period and $5.6 billion a year prior.

At $185 million during the three months ended Sept. 30, 2017, mortgage revenues were very similar to $188 million in the second quarter. A 39 percent drop in mortgage revenues, though, was recorded versus the third-quarter 2016.


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From:: Financing

Gold prices settle at highest in more than 2 weeks

Gold prices climbed Thursday to their highest finish in more than two weeks. Prices got a lift after minutes from the U.S. Federal Reserve’s September meeting Wednesday showed that some policy makers questioned the need for another interest-rate hike this year. December gold climbed by $7.60, or 0.6%, to settle at $1,296.50 an ounce. That was the highest finish since Sept. 26, according to FactSet data.

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From:: Stock Market News