Recently opened, Mission Lofts offers 156 units that can be rented as apartments, offices or both. Robert Seldin A newly opened development near the nation’s capital has taken mixed-use design to a new dimension that befits the currently predominant, coronavirus-prompted lifestyle of living and working in a single place. Sited in Falls Church, Virginia, and
Month: April 2020
Homebuilders are hurting. U.S. home construction in March endured its worst monthly decline since 1984 as housing starts fell by over 22% from the previous month, the Commerce Department said Thursday. Homebuilder confidence was also pummeled, with one key indicator seeing the biggest drop in its 35-year history. Home construction stocks have reflected the weakness. The iShares
Scientist Xinhua Yan works in the lab at Moderna in Cambridge, MA on Feb. 28, 2020. Moderna has developed the first experimental coronavirus medicine, but an approved treatment is more than a year away. David L. Ryan | Boston Globe | Getty Images Biotech stocks surged Friday after new details on a closely watched clinical
The Illinois Regional Transportation Authority plans to raise its short-term borrowing to help manage liquidity as the agency awaits federal help that should offset an expected $958 million blow to tax and farebox revenues caused by the COVID-19 pandemic. “We were originally going to do $150 million, but given the COVID situation we decided to
Take a look at some of the biggest movers in the premarket: Procter & Gamble (PG) – The consumer products giant earned $1.17 per share for its latest quarter, beating consensus estimates by 4 cents a share. Revenue came in below analysts’ projections. Organic sales were up 6% during the quarter thanks in large part
Prince once stayed at this massive Los Angeles mansion purple. The Oppenheim Group The Los Angeles mansion that Prince personalized by painting it purple when he rented it is on the market for $29.995 million. The enormous home near the intersection of Beverly Hills and the Sunset Strip was also the residence of Academy Award-winning
urbazon | Getty Images More than 2.9 million homeowners have taken advantage of a program designed to provide relief to holders of government-backed mortgages, part of the coronavirus CARES Act relief package. This represents 5.5% of all active mortgages, according to Black Knight, a mortgage data and analytics company that is now tracking the growing
From 2007 through 2019, I wrote the weekly Activist Spotlight column at Barron’s. I have now joined the CNBC team and will be writing the weekly update exclusively for CNBC readers. Due to the coronavirus crisis we have delayed the launch of this column, but we believe now is the right time to start focusing
The municipal market was mostly quiet Friday as participants came off a week of a strong rally, an awakened new-issue market and the first fund inflows since February as they cautiously await another week with more deals on tap and continued questions of support out of Washington. Triple A benchmarks showed slight weakness with most
The number of companies withdrawing or declining to provide earnings guidance continues to grow, with Abbott, ConocoPhillips, Jack in the Box, GoPro, and Bed Bath & Beyond in just the last couple days. JPMorgan, in a note to clients, said that so far 86 S&P 500 companies have suspended earnings guidance. Not surprisingly, some in
A man wears a protective mask as he walks past the New York Stock Exchange on the corner of Wall and Broad streets during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. Lucas Jackson | Reuters Earnings from IBM, Netflix, Coca-Cola and dozens of others are expected in the week
Payment Deadline Getty In the wake of Coronavirus, many people worried about how their going to make their next housing payment. However, in particular, a new survey from Cleaver Real Estate shows just how precarious the situation is for landlords and tenants, many of whom have found themselves on opposing sides of this issue. Read
The CEO of real estate brokerage Redfin said Friday that demand for homes has shifted to rural areas as people react to the coronavirus pandemic and look to move out of dense urban areas. “We have seen that people are more interested in that house at the foot of the mountains by the lake,” Glenn Kelman
The SpaceX Falcon 9 rocket emblazoned with the famous NASA “worm” logo for the Demo-2 mission/ NASA NASA and SpaceX are targeting May 27 for the launch of Demo-2, the first launch of NASA astronauts from the U.S. since 2011 and the first crewed launch for Elon Musk’s space company. Demo-2 is set to liftoff
The crypto sphere has seen a lot of buzz over the past few months with regards to the Bitcoin halving that is going to take place in May. Bitcoin is the biggest cryptocurrency in the world, and it is only natural that the upcoming halving event has caused such a stir in the crypto sphere
Illinois now carries three ratings at the lowest rung of investment grade after Fitch Ratings downgraded the state Thursday. Fitch cut the state’s issuer default and general obligation ratings by one level to BBB-minus from BBB, and also lowered its outlook to negative from stable, signaling its poor view of the state’s ability to weather
An Uber Eats food delivery courier closes a bag with an order during a lockdown, imposed to prevent the spread of coronavirus disease (COVID-19), in central Kiev, Ukraine April 2, 2020. Valentyn Ogirenko | Reuters Check out the companies making headlines after the bell. Gilead Sciences — The pharmaceutical company’s stock surged 13% in extended trading
TOPLINEThe coronavirus pandemic continues to take a heavy toll on business activity as this week’s batch of dismal economic data stokes concerns on Wall Street and serves as a sobering indication of just how badly the outbreak is impacting the American economy. From a collapse in retail sales and manufacturing to millions of unemployment claims,
Flooding resulting from Hurricane Harvey in Houston, Texas. Harriet Taylor | CNBC Nothing can compare to the crushing economic tsunami created by the coronavirus pandemic, but in the housing market specifically, there are some parallels to natural disasters. Lessons learned from those devastating events are helping the industry cope now. In 2017, after Hurricane Harvey
SpaceX CEO Elon Musk speaks at a press conference where he announced the Japanese billionaire chosen by the company to fly around the moon, on September 17, 2018 in Hawthorne, California. Mario Tama | Getty Images SpaceX is launching more often than any other country or company and CEO Elon Musk touted low insurance costs as proof
Illinois needs to close a $2.7 billion revenue gap this year and must dig its way out of an up to $7.4 billion hole in the next fiscal year due to plunging revenues blamed on the coronavirus-driven shutdown of many businesses. “This is a public health crisis but it is accompanied by massive economic disruption
Alex Gorsky, Chairman and CEO of Johnson & Johnson, rings the opening bell to celebrate the 75th anniversary of his company’s listing at the New York Stock Exchange, September 17, 2019. Brendan McDermid | Reuters Johnson & Johnson surprised investors with a modest dividend increase of 6.3%, followed by Procter & Gamble, which raised its
Miguel Diaz, who works for the City of Hialeah, hands out unemployment applications to people in their vehicles in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. Joe Raedle | Getty Images The number of workers filing for unemployment claims could again top 5 million for the week ended
Net positive energy home in Lincoln, Massachusetts Photo by Chuck Choi ZeroEnergy Design is an architecture firm creating high performance homes and buildings, while also offering energy consulting and HVAC design for other professionals through the firm’s mechanical design practice. The company has received numerous awards, including Best of Boston Home® 2020 Best Sustainable Architect,
Despite wider-than-usual daily swings last week, mortgage rates dropped to the lowest level ever in the Mortgage Bankers Association’s 30-year-old weekly survey, causing yet another rush to refinance. Total mortgage application volume rose 7.3% last week from the previous week, according to the MBA’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate
Michael Corbat, CEO of Citigroup at the 2018 WEF in Davos, Switzerland. Adam Galica | CNBC Citigroup reported first-quarter earnings on Wednesday. Here’s how the company did: Earnings: $1.05 per share vs $1.87 per share in the year-earlier period Revenue: $20.7 billion, up 12% from the previous year Net income: $2.52 billion, down 46% from
XRP is now the third-biggest cryptocurrency in the world by market cap, and much of the credit for its success goes to the San Francisco-based Fintech company, Ripple Labs. In a new development that should come as a major boost to Ripple holders, the company announced on Monday that it has come up with two
It’s been a rough couple of months for all investors, as the Dow Jones Industrial Average DJIA, +1.71% and S&P 500 SPX, +2.05% and Nasdaq Composite COMP, +2.88% indexes plunged more than 30% from their all-time highs before bouncing back nicely through last week. (They sold off again Monday, but were higher midday Tuesday.) And
Illinois Gov. J.B. Pritzker said the state will provide more information about the budgetary impact of COVID-19 later this week as the state struggles with rising costs and lost tax revenue due to the pandemic. Pritzker has not offered any spending and revenue projections to date and it’s unclear exactly what will be announced later
How soon and how widely the coronavirus stay-at-home orders can be lifted has huge implications for the economy and corporate earnings. Stocks were higher on optimism the number of new virus cases are leveling and a reopening of the economy is on the horizon. However, there’s fear that an early opening could result in a