Zacks Equity Research, Chicago, announced Friday that it had made Duke Realty Corp. its "Bear of the Day" -- a stock expected to underperform the markets over the next three to six months -- for July 21.Zacks said the Indianapolis-based real estate company reported first-quarter funds from operations that were 10% lower than Zacks' expectations. "We do not expect a material improvement in operating results in the next six months, as the company has assets concentrated in weak, slow-growth markets," Zacks said. Zacks can be found online at http://www.zacks.com, and Duke can be found at http://www.dukerealty.com.
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The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
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Of the 15 states most affected by natural disasters, California and Florida had the highest non-renewal rates in 2024, a Weiss Ratings study found.
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The deal will help drive development at Mortgage Cadence, which had been a unit of Accenture, and enable new integrations and automation, according to leaders.
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A regulation requiring nonbanks to report violations of local and state orders to federal offices was redundant and offered no benefit, mortgage leaders said.
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Mortgage loan application volume jumped 7.1% on a seasonally-adjusted basis last week, the Mortgage Bankers Association said.
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Shareholders' equity topped $105 billion as net income rose 16% from the previous quarter and nearly matched year-ago results.
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