Author: Press Room
The standard, 30-year fixed-rate mortgage averaged 6.49% this week, up slightly from the prior week’s level, Freddie Mac reported Thursday. But that’s still well below this year’s peak and the two-decade high last fall — and that appears to be enough to entice homeowners to refinance. Mortgage applications surged 17% last week, driven by homeowners seeking to refinance, up by a staggering 35%, the Mortgage Bankers Association reported Wednesday. Mortgage rates plummeted last week to their lowest level in more than a year, according to figures from mortgage financing giant Freddie Mac. And borrowing costs are expected to fall even further…
TSS, Inc. (OTCQB:TSSI) Q2 2024 Earnings Conference Call August 14, 2024 4:00 PM ET Company Participants Danny Chism – CFODarryll Dewan – President and CEO Conference Call Participants Maj Soueidan – GeoInvesting Operator Good afternoon. My name is Brianna, and I will be your conference operator today. At this time, I’d like to welcome everyone to the TSS Second Quarter 2024 Earnings Call. Please note that today’s call is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question and answer session. [Operator Instructions] I will now…
Pershing Square Capital Management, the hedge fund founded by billionaire Bill Ackman, has taken a stake in Nike as the company tries to turn its business around and revive falling sales.The hedge fund owned about 0.2 per cent of the company as of the end of June, according to a regulatory filing on Wednesday. Nike’s shares rose almost 5 per cent in after-market trading in New York.The world’s largest sportswear maker by revenue has struggled in recent months even as its chief executive John Donahoe has attempted to turn the group’s fortunes around. In late June, Nike issued a bleak forecast…
Former President Donald Trump delivered a Wednesday speech that was laden with false claims he has made before. One of them was about insulin prices for seniors. Trump, the Republican presidential nominee, claimed in the North Carolina address that Vice President Kamala Harris, Trump’s Democratic opponent in the presidential election, and President Joe Biden are lying when they tout their success in bringing insulin prices for Medicare recipients down to $35 per month (per prescription). Trump claimed that they are taking credit for his own work. Trump said: “Kamala and Joe tried to take credit for $35 insulin. You know…
Young adults in the U.S. have been skeptical about Social Security at least since the days when I was one of them. Today’s younger generations are no different, and that’s affecting their retirement planning. About 47% of non-retirees believe Social Security won’t pay them any retirement benefits, according to a 2023 Gallup survey reported in The Wall Street Journal. That number’s been consistent for the 30 or so years that Gallup’s asked the question. Pessimism is highest among those ages 30 to 49, the prime earning and saving years. There are good reasons to believe Social Security might not pay…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. During the week of Aug. 5, 2024, average private student loan rates decreased for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 5-year variable-rate loans, while rates increased for 10-year fixed-rate loans. 10-year fixed rate: 7.71%, up from 7.50% the week before, +0.215-year…
Cisco shares popped in extended trading on Wednesday after the networking company said it’s cutting 7% of its global workforce and reported quarterly results that topped analysts’ estimates.Here are the key numbers:Earnings: 87 cents per share, adjusted, vs. 85 cents per share estimate, adjusted, according to LSEG.Revenue: $13.64 billion vs. $13.54 billion estimate, according to LSEG.Cisco said in a filing that it’s implementing a restructuring plan that will result in $1 billion in pre-tax charges to its financial results and will “allow it to invest in key growth opportunities and drive more efficiencies in its business.” The company said $700 million…
Here’s a rapid-fire update on all 32 stocks in Jim Cramer’s Charitable Trust, the portfolio we use for the CNBC Investing Club. During the August Monthly Meeting on Wednesday, Jim also offered grades on companies that have reported results so far this earnings season. Read the full article here
Shopping around for a car? You’re in luck. Shopping around for a new auto insurance policy? Better buckle up. New, used and even rental car prices continue to slide while car insurance rates remain vastly elevated. That diverging trend seems counterintuitive: If the price tag for a car has gone down, shouldn’t the cost to insure it go down too? If only it were that simple. “It’s a mosaic of factors that impact auto insurance costs,” said Scott Shapiro, who leads KPMG’s US insurance division. “While there is a general correlation between the price of the vehicle and insurance as it…
Digest Some Profit Our group was investing in food and beverage companies in 2017. We mistakenly thought The Kraft Heinz Company (NASDAQ:KHC) stock was a good buy. It was selling then for $86.67 per share. The company unraveled but recently got traction with other consumer staples stocks. We think the stock is a Sell opportunity after its pop in price last week. Seeking Alpha’s Quant Rating is Hold, and has been for most of the past three years. If the share price slips to around $30 again it can be an opportunity to make Moderate Buys. Despite the stock’s price…
