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First-Quarter Short Sales Jump 16% After Growth in Past 2 Years, Realtor.com Says

Short sales in the US surged by a double-digit percentage annually in the first quarter, following growth in the last two years, News Corp's (NWS, NWSA) Realtor.com said Thursday.A short sale is a bank-approved transaction that lets a homeowner who owes more than their house is worth sell the property for less than the remaining mortgage balance. It's an alternative to foreclosure for "underwater" homeowners, the online real estate portal said.Short-sale transactions jumped 16% year over year in the first quarter, following gains of 4% in 2024 and 10% last year, according to Realtor.com. Fewer than 30,000 of these transactions occurred in 2025, accounting for about 0.6% of all typical home sales and 28% of distressed sales, the report showed."Even in a strong economy with home prices close to record highs, a small segment of households find themselves facing tough circumstances," Realtor.com Chief Economist Danielle Hale said. "Foreclosures are the more common outcome, but borrowers facing difficulty should consider all of their options."Despite providing benefits to both lenders and homeowners, short sales continued to be far less common than foreclosures, trailing them by more than two to one, according to Realtor.com.Historically, foreclosed homes sold in a steady range -- 25% to 30% below estimated value -- but jumped to 50% in 2022. They narrowed to about 20% by early this year as the market cooled, the report showed."The good news for struggling homeowners is that they have more options now than in previous decades," Hale said. "A short-sale can be complicated and requires borrowers to act before the bank forces their hand; however, it benefits them by shortening the waiting period before they can qualify for a future mortgage."Earlier this month, a Realtor.com report showed that US foreclosed home listings climbed to their highest level in six years as properties continued to hit the market following the end of pandemic-era housing protection programs.Price: $32.52, Change: $+0.86, Percent Change: +2.70%

$NWS$NWSA

Sectors26d ago

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.6% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 6.3%.The Philadelphia Semiconductor index shed 4.7%.In corporate news, Alphabet's (GOOGL) Google is months behind schedule on delivering its most powerful AI model -- Gemini 3.5 Pro -- due to its efforts to improve its capabilities, especially in coding, Bloomberg reported. Alphabet shares were down 4.4%.Taiwan Semiconductor Manufacturing (TSM) shares fell 3.2% despite the company's Q2 earnings and revenue surpassing analysts' consensus estimates. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg reported, citing a US official.Apple (AAPL) is readying a new iPad mini model with significant updates, including an OLED screen for the first time, Bloomberg reported. Apple shares rose 1.6%.Meta Platforms' (META) independent Oversight Board said Thursday that AI models from leading developers, including Meta, OpenAI, Anthropic, Alphabet's Google and DeepSeek, are more likely to refuse politically critical requests involving governments with restrictive free speech laws. Meta shares were down 2.7%.

$AAPL$GOOGL$META$TSM

Insider Trading26d ago

M&T Bank Insider Sold Shares Worth $484,000, According to a Recent SEC Filing

Kevin J Pearson, Vice Chairman, on July 15, 2026, sold 2,000 shares in M&T Bank (MTB) for $484,000. Following the Form 4 filing with the SEC, Pearson has control over a total of 47,648 common shares of the company, with 44,107 shares held directly and 3,541 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/36270/000162828026048433/xslF345X05/wk-form4_1784230215.xmlPrice: $253.97, Change: $+5.44, Percent Change: +2.19%

$MTB

Sectors26d ago

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) gaining 2.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.3%.In corporate news, Verizon Communications (VZ) will sell 274 company-owned retail locations as part of its restructuring efforts, which is expected to impact 3,000 employees, multiple media outlets reported Thursday. Verizon shares rose 2.5%.Uber (UBER) said Thursday it has signed a merger agreement with Delivery Hero in a deal with an equity value of $14.8 billion, or $13.7 billion adjusted for Uber's prior stake purchases. Uber shares were up 1%.United Airlines (UAL) raised the low end of its full-year earnings outlook and reported upbeat Q2 results, but the air carrier warned that rising oil prices are expected to add nearly $6 billion to its fuel costs this year. Its shares fell 2.4%.Honda (HMC) informed its US dealers on Thursday that it's halting production of the Honda Prologue, the last electric vehicle in its US lineup, Bloomberg reported, citing an interview with Lance Woelfer, the company's head of US sales operations. Separately, Honda plans to begin production of its UC3 electric motorcycle in Vietnam as early as September, shifting manufacturing from Thailand as it looks to capitalize on growing demand for electric two-wheelers in the country, Nikkei reported Thursday. Honda shares were up 2.9%.

$HMC$UAL$UBER$VZ

Sectors26d ago

Sector Update: Healthcare Stocks Gain Late Afternoon

Healthcare stocks were higher late Thursday afternoon, with the NYSE Healthcare Index rising 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 2%.The iShares Biotechnology ETF (IBB) was down 0.7%.In corporate news, Merck (MRK) shares gained 3% after it said Thursday that the Food and Drug Administration has approved Lipfendra 20 mg tablets as an adjunct to diet and exercise to reduce low-density lipoprotein cholesterol, or LDL-C, in adults with hypercholesterolemia, including heterozygous familial hypercholesterolemia.UnitedHealth (UNH) shares rose 1.7% after it posted higher Q2 adjusted earnings and revenue and raised its 2026 adjusted EPS outlook.AtaiBeckley (ATAI) shares surged 32% after Eli Lilly (LLY) said it agreed to acquire the clinical-stage biopharmaceutical company for up to $3.8 billion. Lilly was up 0.8%.Abbott Laboratories (ABT) lifted its full-year earnings outlook on Thursday as the healthcare firm reported Q2 results above market estimates. Abbott shares jumped past 10%.

$ABT$ATAI$LLY$MRK$UNH

Sectors26d ago

Sector Update: Energy

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index was down 0.5%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil shed 0.8% to $78.98 a barrel, and the global benchmark Brent crude contract decreased 0.8% to $84.27 a barrel. Henry Hub natural gas futures fell 1.2% to $2.89 per 1 million BTU.In corporate news, Excelerate Energy (EE) shares rose 2.2% after Goldman Sachs initiated coverage of the stock with a buy rating and a $49 price target.

$EE

Sectors26d ago

Update: WTI Oil Edges Down Even as Iran Conflict Keeps Strait of Hormuz Shut

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) closed lower for the first time in four sessions on Thursday, even as escalating violence between the US and Iran is keeping the Strait of Hormuz closed.WTI crude oil for August delivery closed down 0.8% to settle at $78.95 per barrel, falling off the highest since June 15, while September Brent oil was last seen down 0.8% to $84.72.US forces continued to strike Iran as they seek to eliminate the country's ability to threaten vessels passing through the Strait of Hormuz, a key chokepoint that carried about 20% of global oil supplies before the war began on Feb. 28.The Guardian reported the US launched strikes on the port city of Bandar Abbas as well as targets near Tehran and a tanker ignoring the US blockade of Iranian ports, while Iran responded with attacks on Bahrain, Kuwait and Jordan.The fresh fighting is keeping ships trapped in the Persian Gulf, leaving Asian nations struggling for supply. Just 10 ships moved through the Strait of Hormuz in the past day, according to hormuzstraitmonitor.com, 17% of normal traffic through the waterway."Crude oil steadied after a three-day rally, with Brent trading around USD 85, suggesting the recent wave of short covering that helped fuel the advance may have largely run its course for now. Nevertheless, escalating Middle East tensions continue to raise concerns about energy flows from the region, prompting the IEA to warn that a prolonged disruption could have a meaningful impact on the global economy," Saxo Bank wrote.

$CLQ6$LCOU6$USO

Wire26d ago

Trump Media & Technology Group Launches Truth API for Institutional Customers

Trump Media & Technology Group (DJT) on Thursday launched Truth API, a business-to-business data feed providing licensed, real-time access to posts from top-ranking Truth Social accounts.The product is expected to be available to institutional customers starting August 1, with some customers already signed up ahead of launch, the company said.The feed is aimed at high-frequency and algorithmic trading firms seeking machine-readable, low-latency access to posts rather than manual monitoring, according to the company.It is expected to offer continuous coverage and a historical archive dating back to 2022.Price: $9.54, Change: $-0.04, Percent Change: -0.37%

$DJT

Wire26d ago

Elevance Health's Strong Q2 Prompts Higher 2026-27 Estimates, Truist Says

Elevance Health (ELV) strong Q2 results and higher 2026 guidance set the stage for improved long-term expectations, Truist Securities said Thursday in a report.Truist increased its 2026 EPS estimate to $27.12 from $26.84 and lifted its 2027 forecast to $29.14 from $29 after incorporating the Q2 beat and updated guidance.Q2 results topped expectations on revenue, medical loss ratio and adjusted EPS, helped by strong Medicare Advantage and Affordable Care Act performance, and Medicaid results were in line with management's expectations, the report said.Carelon, the health-services arm, continues to generate steady growth and cross-selling opportunities, with ongoing investments expected to improve operations across several areas, Truist said.Elevance raised its full-year cash-flow-from-operations guidance to at least $6 billion from $5.5 billion.Truist reiterated its buy rating on Elevance stock and maintained its $475 price target.Price: $373.43, Change: $-16.90, Percent Change: -4.33%

$ELV

Wire26d ago

Sector Update: Tech

$GOOGL

Sectors26d ago

Sector Update: Consumer

Consumer stocks were higher late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) gaining 2.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.2%.In corporate news, Honda (HMC) informed its US dealers on Thursday that it's halting production of the Honda Prologue, the last electric vehicle in its US lineup, Bloomberg reported, citing an interview with Lance Woelfer, the company's head of US sales operations. Honda shares were up 3%.

$HMC

Oil & Energy26d ago

White House Says US Remains Open to Iran Deal Despite Recent Military Strikes

Iran continues negotiating with the US despite recent military strikes after violating an agreement covering the Strait of Hormuz, White House Press Secretary Karoline Leavitt said during a press briefing on Thursday."Iran very much continues to talk to the United States of America and express that they want to make a deal with us," Leavitt said, noting that Tehran is "suffering devastating blows" from recent US military action.Leavitt said recent US strikes followed Iran's breach of the memorandum of understanding."In the Memorandum of Understanding that they signed, they were not to fire on commercial vessels moving through the Strait of Hormuz," she said, adding that President Donald Trump "is not going to sit by" while such attacks continue."The Strait is open for ships that are not traveling to and from Iranian ports specifically," Leavitt said. She added that the US reimposed a blockade on Iranian ports after Tehran failed to honor its agreement.Leavitt said over 10,000 US sailors, marines and airmen, supported by two aircraft carriers, over 20 warships and dozens of aircraft, are enforcing the blockade.She added that US Central Command redirected two compliant commercial vessels and disabled one non-compliant vessel during the first 24 hours.Oil traded at about $80 per barrel on Thursday, while US gasoline prices have fallen by about $0.60 per gallon from the conflict peak, Leavitt said. She credited domestic energy policies and emergency measures for stabilizing markets.Leavitt said the administration has released oil from the Strategic Petroleum Reserve, approved a Jones Act waiver, issued fuel environmental waivers and invoked the Defense Production Act to restart California oil production.Trump remains willing to pursue diplomacy but insists Iran "can never obtain a nuclear weapon," Leavitt said.She added that the administration will continue negotiations while responding to any Iranian actions that threaten commercial shipping or regional security.Leavitt said Iran's military capabilities have been severely weakened by Operation Epic Fury. "We can hit Iran anytime, anywhere, any place," she said, while adding Trump remains "always open to diplomacy" if Tehran honors its commitments.

Sectors26d ago

Sector Update: Financial

Financial stocks were edging higher in late Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each increasing 0.1%.The Philadelphia Housing Index was climbing 1.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.8%.Bitcoin (BTC-USD) was shedding 0.8% to $64,203, and the yield for 10-year US Treasuries was rising 2.4 basis points to 4.569%.In corporate news, Apollo Global Management (APO) plans to allocate as much as $20 billion to financing projects in Mexico as it seeks new opportunities for its private credit business, Bloomberg reported. Apollo shares were up 0.8%.

$APO

Sectors26d ago

Sector Update: Healthcare

$MRK

Commodities26d ago

US Refiners Shift Output Toward Distillates as Gasoline Stocks Fall, Kpler Says

US gasoline inventories fell to a new 2026 low as refiners continued shifting production toward middle distillates, Kpler said in a Thursday note.US crude inventories declined by 1.7 million barrels, leaving stocks about 12.5 million barrels below the five-year range, according to Kpler, citing the latest Energy Information Administration data.Refiners increased crude intake by 100,000 barrels per day from the previous week, lifting throughput to about 200,000 b/d above the multi-year average, the report said.Gasoline inventories dropped by 1.5 million barrels to a fresh year-to-date low, ending the week 8 million barrels below the five-year range, Kpler said.Gasoline production also declined by 100,000 b/d from the previous week and remained below seasonal norms despite higher refinery intake, according to the report.Gasoil and diesel inventories increased by nearly 4.5 million barrels, while jet fuel and kerosene stocks rose 850,000 barrels over the week, Kpler said.Fuel oil inventories also increased by roughly 850,000 barrels, while refiners maintained production and middle distillate yields above seasonal norms.The report said jet fuel and kerosene output remained near record highs, with elevated Renewable Identification Number prices weighing on road fuels but not limiting jet fuel production.

Wire26d ago

Excelerate Energy Shares Rise After Goldman Sachs Starts Coverage at Buy

Excelerate Energy (EE) shares were up more than 2% in Thursday trading after Goldman Sachs initiated coverage of the stock with a buy rating and a $49 price target.Intraday trading stood at over 150,000 shares against a daily average of 369,000 shares.Price: $39.30, Change: $+0.82, Percent Change: +2.13%

$EE

Wire26d ago

Verizon Reportedly Advances Restructuring Efforts With Plan to Sell 274 Retail Stores

Verizon Communications (VZ) will sell 274 company-owned retail locations as part of its restructuring efforts, which is expected to impact 3,000 employees, multiple media outlets reported Thursday.The retail changes will become effective Aug. 16, according to the news outlets.Affected employees are likely to be retained by the new owners, Bloomberg reported Thursday.Verizon Communications did not immediately respond to a request for comment from.Price: $44.04, Change: $+1.21, Percent Change: +2.81%

$VZ

US Markets26d ago

Consumer Staple Companies Likely Saw Another 'Tricky' Quarter, UBS Says

US consumer staple companies likely faced another "tricky" quarter, with earnings growth seen impacted to a certain extent by inflation, UBS Securities said in a note e-mailed Thursday.The brokerage expects second-quarter results from most of the group it covers to be "okay," analysts Peter Grom and Sona Fernandes said in a note to clients. While inflation is expected to have limited bottom-line growth "to a degree," the situation is more than reflected in Wall Street's estimates, according to the note."While we continue to believe fundamental visibility remains key to any investment case in staples, this has become increasingly priced in across the group making risk/reward far more difficult to assess on the surface," the analysts said. "This makes the setup into (second-quarter) earnings season tricky once again, but in some ways we think the playbook remains unchanged with fundamental visibility continuing to trump valuation."Coca-Cola (KO), Keurig Dr Pepper (KDP), Monster Beverage (MNST), and Colgate-Palmolive (CL) are among the major names with favorable setups heading into the latest results, according to UBS.Coca-Cola offers the "highest degree of fundamental visibility" among the group, Grom and Fernandes said. The beverages giant is poised for a strong print amid continued momentum in its top-line, according to the note.For Keurig Dr Pepper, stronger growth from US refreshment beverages is likely to continue to drive upside despite "some concerns" around the company's coffee business, the analysts said. UBS expects solid revenue momentum for Colgate-Palmolive despite input cost uncertainty linked to the Middle East conflict.While most Monster Beverage investors expect another strong quarterly print, the company will have to offer proof that it is capable of sustaining sales momentum, especially as competitive pressures mount and comparisons get tougher, according to the note.Procter & Gamble (PG), Elf Beauty (ELF), and Celsius (CELH) are among the most debated stocks, according to UBS.The brokerage sees Procter & Gamble's risk-reward profile as skewed to the upside despite an anticipated conservative fiscal 2027 outlook. Elf Beauty's core business volatility persists and "sentiment/stock performance will continue to hinge on the base business," Grom and Fernandes said.For Celsius, the latest results itself are unlikely to "meaningfully alter the debate," which is expected to be focused on whether the company's core business can show signs of stabilization, the analysts wrote.Molson Coors Beverage (TAP), Energizer (ENR), and Boston Beer (SAM) likely faced unfavorable setups due largely to deteriorating category trends, according to the note."Given scarcity of growth and (long-term) algorithms increasingly in question looking ahead, we think relative valuation is far less critical at this juncture and think companies that can outline credible avenues to deliver top- and bottom-line growth will continue to outperform," Grom and Fernandes said.Price: $84.76, Change: $+2.31, Percent Change: +2.80%

$CELH$CL$ELF$ENR$KDP$KO$MNST$PG$SAM$TAP

Treasury26d ago

US Treasury Closing Levels

3:00 Thursday vs 3:00 Wednesday2yr 99-30 vs 99-31; 4.153% vs 4.126%5yr 99-09 vs 99-13; 4.280% vs 4.255%10yr 98-26 vs 99-01; 5.094% vs 5.076%30yr 98-16+ vs 98-23; 5.095% vs 5.081%2/10 40.983 bps vs 41.701 bps5/30 81.297 bps vs 82.542 bps

Wire26d ago

Calix One Platform Selected by Consolidated Business Services to Lower Costs, Scale Expertise

Calix (CALX) said Thursday that Consolidated Business Services has selected the Calix One platform and the Calix Agent Workforce Cloud to lower costs and scale expertise across its marketing, support, and operations teams.Financial details related to the transaction were not disclosed.Price: $37.80, Change: $-1.68, Percent Change: -4.24%

$CALX

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US Markets26d ago

Consumer Staple Companies Likely Saw Another 'Tricky' Quarter, UBS Says

$CELH$CL$ELF$ENR$KDP$KO$MNST$PG$SAM$TAP