Money


Is Best Buy Stock a Buy? Is Best Buy Stock a Buy?
- February 26, 2016

Analysts expect that Best Buy Co Inc will post $2.65 earnings per share for the current year. Best Buy also noted that it had a hard time selling phones. Sales of computing and mobile devices fell 6.8 percent in the United States. Domestic comparable-store sales, which factor in web sales, declined 1.7%. (more...)
Average US rate on 30-year mortgage falls to 3.62 percent Average US rate on 30-year mortgage falls to 3.62 percent
- February 26, 2016

The rate is the lowest since May 23, 2013, when the fixed rate mortgage was 3.59%. The 15-year FRM this week averaged 2.93 percent with an average 0.5 point, down from last week when it averaged 2.95 percent. Francisco said he thinks the new loan options will allow BofA to better serve the hard-to-reach millennial generation, as well as other in-need home buyer segments. (more...)
Oil prices fall as oversupply worries return
- February 25, 2016

The oil markets received another round of bearish news on Wednesday when the EIA released its latest weekly figures from the oil patch. Global benchmark Brent futures were down 15 cents at $33.12 a barrel. This week's top performing sectors are led by the Down Jones U.S. Consumer Services index gaining 3 percent over the past five trading days followed by the Dow Jones U.S. (more...)
Foxconn's lookin' Sharp: $6 billion takeover deal accepted Foxconn's lookin' Sharp: $6 billion takeover deal accepted
- February 25, 2016

Sharp declined to comment on the reports, while Hon Hai could not be immediately reached. The electronics subindex rose 1.1 percent, while the financials subindex gained 0.8 percent. Century-old Sharp, which supplies smartphone and tablet screens to Apple but started life making belt buckles and pencils, was once among Japan's leading firms and its brand was internationally recognised. (more...)
Saudi oil minister says market should handle low prices
- February 24, 2016

Naimi also reiterated his longstanding position that Saudi Arabia was ready to meet the demand of its customers, maintaining a cushion of spare production capacity and remaining open to "cooperative action" with other producers to create a stable oil market. (more...)
Existing home sales rose more than expected in January Existing home sales rose more than expected in January
- February 24, 2016

Last month's price increase was the largest since April 2015 (8.5 percent) and marks the 47th consecutive month of year-over-year gains. Sales were 11% higher than in January 2014, the largest gain since July 2013. Mortgage buyer Freddie Mac says the average rate on a 30-year, fixed-rate mortgage was near record lows at 3.65 per cent last week, significantly less than the historic average of roughly 6 per cent. (more...)