The US property market is imploding at a rapid rate. Online real estate marketplace Zillow emailed about 300 employees Tuesday that they were being laid off effective immediately. In November last year, Zillow announced that it would lay off a quarter of its staff, around 2,000 people. These layoffs impacted Zillow Offer advisors, PA sales and back-end staff at Zillow Home Loans and Zillow Closing Services, among others. Yesterday it was announced new home sales declined 10.9% month-over-month in September. … Continue reading “Zillow Lays Off Another 5% of Employees as Real Estate Market Woes Deepen”
Stocks Gapping Up, What to look for in Earnings and News
In the trading room we discuss the day ahead live after the November Jobs Report and ahead of the market open. We look at some of the leading stocks gapping up or down in reaction to earnings or guidance including MRVL +21.3%, SMAR +16.5%, TLYS +9.8%, ZG +9.4% and DOCU -31.6%, OLLI -22.8%, SWBI -17.7%, ASAN -14.2%, DOMO -8.9% Enjoy live commentary from Our Trading Room at youtube as the day wraps up – feel free to like and share … Continue reading “Stocks Gapping Up, What to look for in Earnings and News”
Zillow Earnings Beat as Housing Market Outlook Brightens
Real Estate firm Zillow returned a profit for the first quarter versus a loss a year ago. $Z is benefiting from the housing boom where US March housing starts soared in March 19.4%, the highest reading since June of 2006. The median existing home price was the highest on record.