Author: Press Room

As home prices fall and rates rise, buyers are dropping out of the market. Consequently, some investors are losing money on real-estate, according to a new report. The report from Redfin RDFN, which looked at investor-home purchases on a county level and combed through data across 40 of the most populous U.S. metros between 2000 and 2022, found that 13.5% of homes sold in the U.S. by an investor in the month of March were at a loss. In… Read the full article here

© Reuters IBM earnings beat by $0.09, revenue fell short of estimates Investing.com – IBM (NYSE: IBM) reported first quarter EPS of $1.36, $0.09 better than the analyst estimate of $1.27. Revenue for the quarter came in at $14.3B versus the consensus estimate of $14.37B. IBM’s stock price closed at $126.29. It is down -10.56% in the last 3 months and down -8.70% in the last 12 months. IBM saw 0 positive EPS revisions and 7 negative EPS revisions in the last 90 days. See IBM’s stock price’s past reactions to earnings here. According to InvestingPro, IBM’s Financial Health score…

(Reuters) – The Mexican parliament’s lower house voted to press ahead with the proposed overhaul of the country’s mining laws which include shortening concessions, tightening water permits and giving back some profits, moves criticized by industry leaders. Mexico is the world’s top silver producer and one of the largest producers of and gold. Since President Andres Manuel Lopez Obrador took office in late 2018, he has refused to offer any new mining concessions, arguing that too many had been granted by previous governments. The head of Mexico’s mining chamber last week said the proposed overhaul of the country’s mining laws…

(Reuters) – U.S. banking heavyweights set aside billions of dollars in the first quarter to account for potential bad loans, as rising interest rates turn up the heat on borrowers who are just starting to see some relief from inflation. Below is an outline of how banks have managed their reserves since 2020: JPMorgan Chase & Co (NYSE:) Quarter Reserves/provisions Reserves/provisions built released Q1 2023 $2.3 billion Q4 2022 $2.3 billion Q3 2022 $1.5 billion Q2 2022 $1.1 billion Q1 2022 $1.5 billion Q4 2021 $1.3 billion Q3 2021 $1.5 billion Q2 2021 $2.3 billion Q1 2021 $4.2 billion Q4…

A slew of regional banks of various asset sizes posted earnings this week. Even though many benefitted from a rising interest rate environment, investors were not impressed. The S&P Regional Banks Select Industry Index is at 1, 346.95 today. This is a 34% decline from where it stood on March 8, 2023, right when Silicon Valley Bank announced it was selling $1.25 bn in stock. There are no signs that this index is recovering any time soon. The KBW Nasdaq Regional Banking Index tells the same story. Deposits at Regional Banks Unsurprisingly, deposits decreased in the first quarter of 2023…

United Parcel Service (NYSE: UPS) is scheduled to report its Q1 2023 results on Tuesday, April 25. Although UPS stock may trade higher post its earnings release, given its earnings are expected to be slightly above the street expectations, we believe it is fully valued at its current levels. While the big e-commerce surge seen through the lockdown phase of the Covid-19 pandemic has now cooled off, impacting the delivery volumes for logistics companies, UPS should benefit from its pricing actions. Our interactive dashboard analysis on United Parcel Service Earnings Preview has additional details. (1) Revenues expected to be marginally…

Now that the tax deadline has passed, have you ever paused for a moment to consider how all of the tax returns get processed? The Internal Revenue Service (IRS) is arguably one of the most loathed government agencies in the country. It is a mammoth organization consisting of over 79 thousand employees that are responsible for the collection of over $4.9 trillion in annual revenue from taxpayers. Recently, the government allocated $80 billion in new funding to the organization via the Inflation Reduction Act that became law in January of this year. With such a significant cash infusion, it begs…

President Joe Biden on Friday will sign an executive order directing federal agencies to invest in disadvantaged communities disproportionately affected by pollution and climate change, the White House said.The order will create a new Office of Environmental Justice in the White House to coordinate all environmental justice efforts across the federal government and require agencies to notify nearby communities if toxic substances are released from a federal facility.The president, who is preparing to announce his reelection bid next week, will make the announcement during a ceremony at the White House Rose Garden. He is also expected to condemn Republicans over “safeguarding…

Five NFL players have been suspended for violating the National Football League’s gambling policy, the league announced today.The policy bars anyone in the NFL from engaging in any kind of gambling in league facilities or venues, including practice facilities. The league said its review uncovered no evidence that inside information was used.No games were compromised as a result of the gambling, the NFL added.Three players — Quintez Cephus and C.J. Moore of the Detroit Lions, and Shaka Toney of the Washington Commanders — will be suspended indefinitely, at least until the end of the 2023 season, for betting on NFL…

It is the end of an era. BuzzFeed News, the digital news outlet that harnessed the power of social media to take the internet by storm, is shuttering. The move marks the end of the digital media upstart frenzy rooted in the late aughts that enlisted a new generation of young journalists and once threatened entrenched legacy news organizations. The outlet once inspired tremendous jealousy from the likes of CNN and The New York Times. Flush with venture capital cash, it poached top journalists at establishment outlets, opened bureaus across the world, and touted its ability to send stories viral…