After rising at the end of the year, mortgage rates dropped sharply last week. That drove demand from current homeowners hoping to save on their monthly payments, but it did little to excite potential homebuyers. As a result, total mortgage application volume rose just 1.2% last week compared with theContinue Reading
ABU DHABI, United Arab Emirates — State oil giant Saudi Aramco reported a 39% rise in net income for the third quarter year-on-year, on the back of higher crude prices and tightening global supply. Net income rose to $42.4 billion for the quarter, up from $30.4 billion the previous yearContinue Reading
Shares of Amgen Inc. AMGN, +6.83% leapt 5.2% in morning trading Tuesday, enough to pace the Dow Jones Industrial Average’s DJIA, +0.15% gainers, after Morgan Stanley turned bullish on the biotechnology company. Amgen’s stock price gain of $12.04 was adding about 79 points to the Dow’s price, while the DowContinue Reading
Text size DocuSign offers electronic signature services. Courtesy DocuSign Shares of DocuSign were rising Friday after the e-signature company posted quarterly earnings and revenue that topped analysts’ estimates and raised its forecast for fiscal-year billings. DocuSign (ticker: DOCU) earned an adjusted 44 cents a share in its fiscal second quarter,Continue Reading
Shares of General Motors Co. GM, +0.83% surged 1.9% in premarket trading Friday, after the automobile maker said it will reinstate the payment of a quarterly dividend, more than two years after suspending it, and resume “opportunistic” repurchases of its common stock. The new quarterly dividend of 9 cents aContinue Reading
An employee looks on at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Saudi oil giant Aramco reported a stunning 90% surge in second quarter net income and record half year results on Sunday, as high oil prices continue to drive historic windfallsContinue Reading
Text size DraftKings reported revenue of $466 million for the second quarter, beating Wall Street estimates. Scott Eisen/Getty Images for DraftKings DraftKings gave investors a nice surprise Friday. The online sports betting platform lifted its financial forecast, despite a gloomy macro environment and just a few days after rivals CaesarsContinue Reading
Text size A large Carnival cruise ship docked at port in turquoise blue water. Dreamstine Shares of Carnival were rising Friday after the cruise line posted second-quarter revenue that rose sharply from the first quarter of 2022. Carnival (ticker: CCL ) reported a GAAP loss of $1.61 a share, widerContinue Reading
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in May 2021. As existing-homeContinue Reading
Mortgage rates jumped sharply this week, as fears of a potentially more aggressive rate hike from the Federal Reserve upset financial markets. The average rate on the popular 30-year fixed mortgage rose 10 basis points to 6.28% Tuesday, according to Mortgage News Daily. That followed a 33 basis point jumpContinue Reading