Mortgage Blog
Nike, Flir, Digimarc, Lithia, other OR, SW Wash. public cos. lose $21.3B in Oct.’s stock market dive
October has been a rollercoaster ride for America's largest companies, with even the healthiest corporate titans racking up tens-of-billions in lost market value since the month began.
A Business Journals analysis of the nation’s largest 3,000 public companies determined roughly $2.1 trillion in market capitalization was lost between Oct. 1 and Oct. 24, as uncertainties concerning trade, interest rates and economic instability abroad sent U.S. stock markets swooning.
Companies in Oregon and Southwest…
Impact investing: This organization helps companies do more with their philanthropy
Note: BigBang! 2018: Dallas Deals and Dreams, Driving Resilience & Economic Mobility kicks off today. Tickets are on sale here.
Corporate philanthropy has long been a tenet of the North Texas business climate as companies, executives and employees regularly donate to causes that benefit the community. But the traditional approach of making donations each year to worthy causes is now being tested by a new model: impact investing. And with that, a new question is being asked: Can more people benefit…
Legg Mason profit falls 4 percent in second quarter
Legg Mason Inc. saw its profit decline 4 percent in the second quarter as the financial industry continued to experience what CEO Joseph A. Sullivan called “significant challenges.”
The Baltimore-based money manager reported earnings of of $72.8 million, or 82 cents per share, in the quarter ending Sept. 30. That's down from $75.7 million, or 78 cents per share, in the prior-year quarter. Earnings per share increased because there were fewer outstanding shares compared to the same time a year ago.
The…
Silicon Valley stocks, led by FAANGs, fall sharply as Wall Street turns negative for the year
Wall Street wiped out all of its gains for the year on Wednesday in the latest tremble to run through the U.S. stock market.
The S&P 500 fell 3.1 percent and the Dow Jones Industrial Average fell more than 608 points, with both indices turning negative for the year. The Nasdaq Composite fell 4.4 percent, entering correction territory.
The U.S. stock market has experienced waves of selloffs in recent weeks as investors fret over rising interest rates, President Trump's trade war with China and…
Two Wells Fargo executives begin ‘leave of absence’ as investigations continue
Two top executives at Wells Fargo & Co. (NYSE: WFC) are on leaves of absence in light of ongoing investigations into fraudulent sales practices at the bank.
Hope Hardison, chief administrative officer, and David Julian, chief auditor, were asked to go on leave and step back from their roles on the Operating Committee. Wells Fargo declined to confirm if they are still employed with the bank.
“Because of the depth of our management team, we are confident in our ability to ensure an effective transition,”…
Fidelity Bank recruits new senior VP of commercial lending from Kansas City market
Jesse West and his family moved to Wichita for a new executive position with Fidelity Bank.
Wells Fargo shuffles C-suite over sales practices scandal
San Francisco-based Wells Fargo said Wednesday that its chief administrative officer and chief auditor have begun leaves of absence from the bank and named new leaders for key parts of the company.
The two executives on leave, Chief Administrative Officer Hope Hardison and Chief Auditor David Julian, also stepped down from the bank’s (NYSE: WFC) operating committee.
“These leaves relate to previously disclosed ongoing reviews by regulatory agencies in connection with historical retail banking…
Fed faces growing challenge holding rates in target range
The upward drift in the Fed funds rate adds another headache for the central bank as it raises interest rates to more normal levels and works to reduce its swollen balance sheet without causing disruptions in financial markets.
Here are the biggest Silicon Valley losers in Nasdaq correction
The tech-heavy Nasdaq Composite Index dove into to official “correction” territory on Wednesday, falling 4 percent on the day. The index is now down about 13 percent from the all-time high it set at the end of August.
That swoon has sent a number of Silicon Valley stocks that are among the most valuable components of the index tumbling as well. Despite the big drop, the Nasdaq is still up by about 3 percent on the year and most of the local tech stocks are still in the black for 2018, too.
Here…
Central Pacific Bank’s revenues increase 28 percent in Q3 2018
Central Pacific Financial Corp., the Honolulu-based parent of Central Pacific Bank, saw net income increase by 28.6 percent for the quarter ending Sep. 30.
Hawaii’s fourth-largest bank reported net income of $15.2 million, or 52 cents per diluted share, compared to net income of $11.8 million or 39 cents per diluted share in 2017’s third quarter.
Earlier this month, the company's board of directors declared a quarterly cash dividend of 21 cents per share on its outstanding common shares,…