A data released on Tuesday revealed that home sales prices in the United States moved up 5.3 percent in November which indicates a growth streak which the economists warned is posing a threat to affordability, mostly in the coastal markets.
The hot home sales market results from a solid hiring spree, shortage of houses in the market as well as low mortgage rates.
The S&P/Case-Shiller U. S. National Home Price Index revealed that, in November home sales prices climbed 5.3 percent at a seasonally adjusted rate on a year on year basis.
The cloud and virtualization software and services provider VMware Inc forecasted its revenue expectations for 2016 which missed the analysts' expectations. This hints that the software manufacturer's healthy growth in new businesses did not properly offset or compensate the weakness it faced in the conventional server-virtualization software business.
The wireless market for AT&T is no more what it used to be and once that was the company's main earning source. Now Dallas- based AT&T is depending more on its video leaving the traditional wireless service second.
The second-largest phone company of the nation has faced sluggish growth last year with many of its phone customers opting for cheaper offers from its rivals like T-Mobile and Sprint. However, chasing these customers is not what AT&T has in mind; instead it is focusing on serving customers better in other ways.
After dipping the day before, on Tuesday stocks climbed as crude prices made another abrupt turn with a four percent jump.
Energy stocks also moved ahead with the oil price allowing Chevron and Exxon Mobil to make huge gains. Exxon Mobil picked 3.7 percent or $2.72, to $76.70 and Chevron climbed 4 percent or $3.23 to $84.12.
Sprint Corp., the wireless carrier might just have won the worried investors on its side as the company reported gains on Tuesday during its quarterly update.
Customer counts of the company climbed and so did the progress on major elements in the company's complex turnaround plan. Following the report, the company's shares scaled up 18.7 percent.
Steve Streit, the CEO of Green Dot Corporation is facing pressure from a San Francisco hedge fund to be moved out of office. Harvest Capital Strategies, which has 6.2 percent, stake in Green Dot sys that the longtime chief executive has not been able to manage the company properly which resulted in huge losses in the past few years.
Right at the beginning of the week, on Monday, FedEx said it is building a new distribution center in Cypress. The new distribution ware house for FedEx will be the biggest one for the company.
It is expected to be completed by 2017 and will sprawl over 800,000 square feet. The new facility will come in a location that's west of the Grand Parkway and north of FM 529.
According to a new study, a part of a protein in human breast milk could be used to kill a certain type of drug-resistant bacteria.
United Kingdom's Chancellor George Osborne has joined tech billionaire Bill Gates to work to eradicate themalaria disease from the world.
Christine Lagarde, the Managing Director of the International Monetary Fund used the last day of the World Economic Forum in Davos to announce her candidacy for another term in office and secured quick support from all directions. The news that she might be facing possible trial in France did not stop the leaders from rendering support to her for a second term.
Health experts said that a new brain 'satnav' will allow surgeons to reach and remove tumours that were inoperable earlier and without damaging the healthy tissue.
On Monday, McDonald's is scheduled to report its fourth quarter sales and earnings and expectations are high this time. Analysts' are hoping that the fast food chain will keep the momentum going which it pick up in Q3 with same-store sales growth of 0.9 percent. In two years, it was the very first a sales increase was reported by the largest fast food chain.
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