United Airlines posts higher profits and buys used Boeing 737s as Max grounding drags on

Strong travel demand pushed United Airlines Holdings second-quarter profit up more than 50% from a year ago, despite continued challenges from the grounding of the Boeing 737 Max. The Boeing 737 Max planes have been grounded worldwide since mid-March following two fatal crashes — one in Indonesia in October and another in Ethiopia in March — that killed a total of 346 people. United, which has 14 737 Max 9 jets, had expected the planes to return by Labor Day. American has 24 Boeing 737 Max jets


Strong travel demand pushed United Airlines Holdings second-quarter profit up more than 50% from a year ago, despite continued challenges from the grounding of the Boeing 737 Max. The Boeing 737 Max planes have been grounded worldwide since mid-March following two fatal crashes — one in Indonesia in October and another in Ethiopia in March — that killed a total of 346 people. United, which has 14 737 Max 9 jets, had expected the planes to return by Labor Day. American has 24 Boeing 737 Max jets
United Airlines posts higher profits and buys used Boeing 737s as Max grounding drags on Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: leslie josephs
Keywords: news, cnbc, companies, united, 737, demand, drags, planes, boeing, grounding, share, max, jets, posts, travel, profits, used, buys, higher


United Airlines posts higher profits and buys used Boeing 737s as Max grounding drags on

Strong travel demand pushed United Airlines Holdings second-quarter profit up more than 50% from a year ago, despite continued challenges from the grounding of the Boeing 737 Max.

United did not break out how the grounding, now in its fifth month, affected its bottom line but said it signed an agreement to buy 19 used Boeing 737-700 planes, older jets that it can use to meet growing demand. It expects those planes to be delivered in December.

The Boeing 737 Max planes have been grounded worldwide since mid-March following two fatal crashes — one in Indonesia in October and another in Ethiopia in March — that killed a total of 346 people. Regulators have not said when they expect to allow the planes to fly again, forcing airlines to cancel thousands of flights during the peak summer travel season and through the fall.

Airlines have scrambled to meet demand by combining flights and making other schedule tweaks.

On Friday, United removed the planes from its schedule through the start of November, with no end in sight to the grounding. United, which has 14 737 Max 9 jets, had expected the planes to return by Labor Day. American Airlines on Sunday also took the planes out of its schedules until early November, a move that would mean the cancellation of about 115 flights a day. American has 24 Boeing 737 Max jets in its fleet.

Delta Air Lines, which does not have the troubled plane in its fleet, said it has marginally benefited as rivals’ operations are hamstrung from the grounding.

In the three months ended June 30, net income rose 54% to $1.1 billion, or $4.02 a share, from $683 million, or $2.48 per share a year ago. On an adjusted basis, it earned $4.21 a share, beating analysts’ expectations of $4.09 a share.

Revenue rose close to 6% from a year ago to $11.4 billion, slightly above the $11.36 billion analysts had forecast, as demand for seats in every region where it operates climbed in the busy travel period.

The Chicago-based carrier also raised the low-end of its profit forecast for the year to $10.50 to $12 per share from an estimate of as low as $10 a share.

Executives from the second-largest U.S. carrier will hold a call with analysts on Wednesday at 10:30 a.m. ET, when they will likely face questions on how the grounding of the Boeing 737 Max could affect its operations through the end of the year.

Shares were up 0.6% in postmarket trading.

American and Southwest report second-quarter results on July 25.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: leslie josephs
Keywords: news, cnbc, companies, united, 737, demand, drags, planes, boeing, grounding, share, max, jets, posts, travel, profits, used, buys, higher


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Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b


The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b
Billionaire James Dyson reportedly buys $54 million penthouse in Singapore Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building.

British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday.

The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners.

The Business Times did not specify its sources, but local newspaper The Straits Times said it had reviewed documents revealing the purchase.

Official title records seen by Reuters show billionaire Dyson and his wife became tenants of the 99-year leasehold property on June 20. The records did not state the price paid, the wire said.


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


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Amazon buys part of ad tech company Sizmek

Amazon has agreed to buy part of ad tech company Sizmek, including its ad server. Amazon said it agreed to buy Sizmek Ad Server and Sizmek Dynamic Creative Optimization, which is a tool that helps personalize ads using data. Amazon said its own advertising unit, Amazon Advertising, and Sizmek “have many mutual customers.” The deal will bring an ad server, which is a tool to actually place advertisements around the web, to Amazon. Ratko Vidakovic, the founder of ad tech consultancy AdProfs, said


Amazon has agreed to buy part of ad tech company Sizmek, including its ad server. Amazon said it agreed to buy Sizmek Ad Server and Sizmek Dynamic Creative Optimization, which is a tool that helps personalize ads using data. Amazon said its own advertising unit, Amazon Advertising, and Sizmek “have many mutual customers.” The deal will bring an ad server, which is a tool to actually place advertisements around the web, to Amazon. Ratko Vidakovic, the founder of ad tech consultancy AdProfs, said
Amazon buys part of ad tech company Sizmek Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: megan graham
Keywords: news, cnbc, companies, sizmeks, buys, sizmek, advertising, tech, ad, vidakovic, amazon, data, deal, company, amazons, server


Amazon buys part of ad tech company Sizmek

Jeff Bezos, founder and chief executive officer of Amazon.com Inc., listens during an Economic Club of Washington discussion in Washington, D.C., U.S., on Thursday, Sept. 13, 2018.

Amazon has agreed to buy part of ad tech company Sizmek, including its ad server. Amazon announced the deal Friday.

Amazon said it agreed to buy Sizmek Ad Server and Sizmek Dynamic Creative Optimization, which is a tool that helps personalize ads using data. Amazon said its own advertising unit, Amazon Advertising, and Sizmek “have many mutual customers.” The two Sizmek units will operate separately from Amazon Advertising for the time being.

The deal comes as Amazon is a growing contender to take on the digital ad duopoly of Google and Facebook. The acquisition of Sizmek’s assets will help Amazon further encroach on Google’s ad business, experts say.

The deal will bring an ad server, which is a tool to actually place advertisements around the web, to Amazon. It will also give Amazon “dynamic creative,” which is an industry term for ads tailored to a consumer’s data. For instance, it could help make ads that are tailored depending on geographical region, stock prices or even the local weather.

Sizmek filed for Chapter 11 bankruptcy in March. In a voluntary petition filing, the company estimated its assets at between $100 million and $500 million. The company said in a press release on March 29 it was aggressively seeking to access its existing cash, and “intends to fully resume normal-course operations as soon as possible.”

In April, Zeta Global said it had agreed to buy Sizmek’s data management and demand-side platforms for up to $36 million. Sizmek also owns Peer39, which provides contextual targeting tools.

Amazon did not say how much it spent for Sizmek’s assets.

Collin Colburn, a Forrester analyst, said the deal may bring some speed to Amazon’s ad business.

“They’ve been slow,” he said. “It just feels like they’re very slow to come to market with innovations in their ad products. I’m hoping with buying a more traditional ad tech provider, the people that come along with it will be able to bring some of that expertise, some of that know-how.”

Colburn also said the deal would allow Amazon to work with advertisers that don’t sell products on Amazon — like airlines and restaurants — but want to use Amazon’s data and target Amazon’s customers.

Ratko Vidakovic, the founder of ad tech consultancy AdProfs, said Sizmek’s server was considered to be the main indie ad server outside of Google’s Campaign Manager. He said the server was likely the most valuable part of Sizmek’s assets, followed closely by Peer39. Amid Sizmek’s bankruptcy dealings, Vidakovic said the deal for Amazon was likely partly opportunistic and partly strategic.

Though Amazon could have instead built a server in-house, this speeds up the process, Vidakovic said. “You can have all the engineers in the world, but it’s a shortcut of getting to market.” Since Sizmek already has certifications in place, existing customer relationships and a base of agencies using it, this is likely a time saver for Amazon.

Vidakovic said such a deal signifies Amazon’s intention to be a strong competitor and player in the display advertising world. “I think it’s very, very early days for them still.”


Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: megan graham
Keywords: news, cnbc, companies, sizmeks, buys, sizmek, advertising, tech, ad, vidakovic, amazon, data, deal, company, amazons, server


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Woman who buys a lottery ticket every day just won a second time—for a total of $1.1 million

Two years ago, Peggy Dodson bought a lucky scratch-off lottery ticket at her local convenience store that turned out to be a $100,000 winner. Dodson, 72, recently walked into the same store where she bought her previous winning lottery ticket to claim a second prize — but this time, it was a $1 million jackpot. Dodson cried when she realized she’d won the lottery again, and an even bigger prize this time, according to a press release from Pennsylvania Lottery officials. “We’re going to pay our m


Two years ago, Peggy Dodson bought a lucky scratch-off lottery ticket at her local convenience store that turned out to be a $100,000 winner. Dodson, 72, recently walked into the same store where she bought her previous winning lottery ticket to claim a second prize — but this time, it was a $1 million jackpot. Dodson cried when she realized she’d won the lottery again, and an even bigger prize this time, according to a press release from Pennsylvania Lottery officials. “We’re going to pay our m
Woman who buys a lottery ticket every day just won a second time—for a total of $1.1 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: tom huddleston jr
Keywords: news, cnbc, companies, total, lottery, million, scratchoff, press, second, ticket, dodson, store, timefor, won, winning, prize, day, buys, pennsylvania, woman, pay


Woman who buys a lottery ticket every day just won a second time—for a total of $1.1 million

Two years ago, Peggy Dodson bought a lucky scratch-off lottery ticket at her local convenience store that turned out to be a $100,000 winner. But the Pennsylvania woman’s lucky streak was far from over.

Dodson, 72, recently walked into the same store where she bought her previous winning lottery ticket to claim a second prize — but this time, it was a $1 million jackpot.

Dodson cried when she realized she’d won the lottery again, and an even bigger prize this time, according to a press release from Pennsylvania Lottery officials.

“I cried, I couldn’t help it. I just thank God,” says Dodson, who also laid out the plans she and her husband, Ottis, have for their latest windfall. “We’re going to pay our mortgage off, we’ll pay our truck off and we’ll go to the Grand Canyon and Alaska!” Dodson says in the press release.

Dodson, who decided to buy her winning “Max-a-Million” ticket because she liked that the scratch-off was “the color purple,” told the Lancaster Online newspaper on Thursday that she usually buys her daily lottery ticket at the same store.

Buying lottery tickets is one of Dodson’s only vices, she says.


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: tom huddleston jr
Keywords: news, cnbc, companies, total, lottery, million, scratchoff, press, second, ticket, dodson, store, timefor, won, winning, prize, day, buys, pennsylvania, woman, pay


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Apple buys a company every few weeks, says CEO Tim Cook

Apple buys a company every two to three weeks on average, CEO Tim Cook told CNBC. In roughly the last six months alone, Cook said, Apple has bought approximately 20 to 25 companies. Apple often doesn’t announce these deals because the companies are small and Apple is “primarily looking for talent and intellectual property,” Cook told CNBC’s Becky Quick in an interview from Berkshire Hathaway’s annual shareholder meeting over the weekend. Apple turned Beats into its Apple Music streaming service


Apple buys a company every two to three weeks on average, CEO Tim Cook told CNBC. In roughly the last six months alone, Cook said, Apple has bought approximately 20 to 25 companies. Apple often doesn’t announce these deals because the companies are small and Apple is “primarily looking for talent and intellectual property,” Cook told CNBC’s Becky Quick in an interview from Berkshire Hathaway’s annual shareholder meeting over the weekend. Apple turned Beats into its Apple Music streaming service
Apple buys a company every few weeks, says CEO Tim Cook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: lauren feiner
Keywords: news, cnbc, companies, ceo, making, buys, cook, acquisitions, tim, told, weeks, companies, beats, service, apple, billion, company


Apple buys a company every few weeks, says CEO Tim Cook

Apple buys a company every two to three weeks on average, CEO Tim Cook told CNBC.

In roughly the last six months alone, Cook said, Apple has bought approximately 20 to 25 companies. Apple often doesn’t announce these deals because the companies are small and Apple is “primarily looking for talent and intellectual property,” Cook told CNBC’s Becky Quick in an interview from Berkshire Hathaway’s annual shareholder meeting over the weekend.

The aggressive acquisition style highlights Apple’s massive purchasing power. In its fiscal second-quarter earnings statement, Apple reported a $225.4 billion cash hoard, making it one of the most cash-rich companies in the world. Apple has pledged to contribute $350 billion to the U.S. over five years through expansion and taxes on repatriated cash.

Cook said that after investing in initiatives like its new $1 billion campus in Austin, Texas, the company turns its attention and spending to other goals.

“If we have money left over, we look to see what else we [can] do,” Cook said. “We acquire everything that we need that can fit and has a strategic purpose to it. And so we acquire a company on average, every two to three weeks.”

This strategy shines through in some of Apple’s more high-profile acquisitions. Its 2018 acquisition of digital magazine subscription service Texture, for example, was a prelude to its new Apple News+ service that offers access to a variety of publications for a flat fee.

Even though Apple acquires several companies a year, it’s famous for not making major acquisitions. Its largest in recent memory was its $3 billion purchase of Beats in 2014. Apple turned Beats into its Apple Music streaming service and continues to sell Beats headphones as part of its growing wearables category.

Apple has also reportedly mulled other major acquisitions, including Time Warner in 2016, according to a Wall Street Journal report at the time. Some have called on Apple to use its cash pile to make large acquisitions of companies like Tesla or Netlfix.

Subscribe to CNBC on YouTube.

Watch: Buffett: I’m ‘wildly’ in favor of Apple repurchasing shares


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: lauren feiner
Keywords: news, cnbc, companies, ceo, making, buys, cook, acquisitions, tim, told, weeks, companies, beats, service, apple, billion, company


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Two under-the-radar retail buys as the group breaks out, according to experts

Despite the move higher, two experts said there are still bargain buys within the space. “One name that really sticks out in retail land is Columbia Sportswear,” Ari Wald, head of technical analysis at Oppenheimer, said Thursday on CNBC’s “Trading Nation.” Retail has been “range-bound in recent months,” he said, also pointing out that “over the last five years it’s been in the same price range.” So as a result, Wald believes “there are more attractive opportunities for funds at the industry leve


Despite the move higher, two experts said there are still bargain buys within the space. “One name that really sticks out in retail land is Columbia Sportswear,” Ari Wald, head of technical analysis at Oppenheimer, said Thursday on CNBC’s “Trading Nation.” Retail has been “range-bound in recent months,” he said, also pointing out that “over the last five years it’s been in the same price range.” So as a result, Wald believes “there are more attractive opportunities for funds at the industry leve
Two under-the-radar retail buys as the group breaks out, according to experts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: pippa stevens, luke sharrett, bloomberg, getty images, scott mlyn, brendan smialowski, afp, rosley majid, eyeem, mike blake
Keywords: news, cnbc, companies, undertheradar, believes, petrides, group, sportswear, stock, higher, buys, wald, trading, industry, breaks, retail, experts, according, theyre


Two under-the-radar retail buys as the group breaks out, according to experts

Investors are shopping for retail stocks.

The XRT, an ETF that tracks the sector, is up nearly 10 percent this year, and is tracking for its best quarter since 2014. Despite the move higher, two experts said there are still bargain buys within the space.

“One name that really sticks out in retail land is Columbia Sportswear,” Ari Wald, head of technical analysis at Oppenheimer, said Thursday on CNBC’s “Trading Nation.” Last month the company reported fourth-quarter earnings that handily beat analyst expectations, leading to a nearly 16 percent surge in the stock the following day. The move higher eclipsed the $96 mark — which had previously been a key level of resistance, according to Wald — and the stock has been trading in the $100-$105 region ever since.

Wald notes that technicians call this a bullish flag pattern (so named since the vertical jump higher followed by a continuation of trading in that range can resemble a flag poll), and he believes the stock’s slight pullback this week is a buying opportunity.

“[W]e think this little near-term pullback should be bought in anticipation for a resumption of that breakout and a longer-term uptrend that’s still in play,” he said. Shares of the sportswear maker are up roughly 25 percent this year.

While Wald likes Columbia Sportswear, he cautions on buying the sector as a whole. Retail has been “range-bound in recent months,” he said, also pointing out that “over the last five years it’s been in the same price range.” So as a result, Wald believes “there are more attractive opportunities for funds at the industry level.”

On the flip side, John Petrides, managing director and portfolio manager at Point View Wealth Management, is more optimistic on the future of retail since he believes companies recognize threats to the industry — especially the rise of e-commerce — and are changing accordingly.

“[B]y and large many of the retailers have adjusted. They’re building out their online presence, they’re cutting their square-footage growth, they’re slowing their store space store openings, so they’re living in the new world that they’re in, and they’re now able to thrive, or at least grow at a new normal,” he said.

Petrides also thinks that the economic backdrop of low unemployment coupled with wage growth will continue to spur gains for the sector.

He specifically likes Hanesbrands. The stock has been on a tear this year, soaring 41 percent, but the move higher follows a dismal 2018 that saw the name drop 40 percent. It’s still more than 20 percent away from its June 52-week high, and Petrides contends that strong fundamentals will propel it higher.

“[H]ere’s a stock that dominates the industry that it’s in. … trading at less than 10 times earnings, less than one times price to sales. Currently offers a 3.5 percent dividend yield and based on [the] company’s projections and current prices should have about a 10 percent free cash flow yield, so we think that’s an attractive stock to own in this environment,” Petrides said.

Disclosure: Point View Wealth Management and John Petrides or someone in his household own shares of Hanesbrands.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: pippa stevens, luke sharrett, bloomberg, getty images, scott mlyn, brendan smialowski, afp, rosley majid, eyeem, mike blake
Keywords: news, cnbc, companies, undertheradar, believes, petrides, group, sportswear, stock, higher, buys, wald, trading, industry, breaks, retail, experts, according, theyre


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Warren Buffett never buys or sells stocks using this common method

The chairman and CEO of Berkshire Hathaway doesn’t sell stocks using a stop-loss order because of its short-term focus. And because he has long maintained that trying to time the market is impossible. Buffett says investors should not try to trade stocks, but invest in them steadily over time. Buffett expounded that the investors who would trade Berkshire this way are not the kind of share owners he would like to attract. Those investors are not thinking long term with their “totally noninvestme


The chairman and CEO of Berkshire Hathaway doesn’t sell stocks using a stop-loss order because of its short-term focus. And because he has long maintained that trying to time the market is impossible. Buffett says investors should not try to trade stocks, but invest in them steadily over time. Buffett expounded that the investors who would trade Berkshire this way are not the kind of share owners he would like to attract. Those investors are not thinking long term with their “totally noninvestme
Warren Buffett never buys or sells stocks using this common method Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: maggie fitzgerald, adam jeffery
Keywords: news, cnbc, companies, know, investors, sell, berkshire, warren, stocks, sells, trade, buffett, long, youre, buys, doesnt, common, using, method


Warren Buffett never buys or sells stocks using this common method

The chairman and CEO of Berkshire Hathaway doesn’t sell stocks using a stop-loss order because of its short-term focus. And because he has long maintained that trying to time the market is impossible. Buffett says investors should not try to trade stocks, but invest in them steadily over time.

It “has always struck me as like having a house that you like, and you’re living in, and, you know, it’s worth $100,000 and you tell your broker, ‘You know, if anybody ever comes along and offers $90 [thousand], you want to sell it,'” Buffett joked to the audience at the 1994 meeting. “It doesn’t make any sense to me.”

Buffett expounded that the investors who would trade Berkshire this way are not the kind of share owners he would like to attract. Those investors are not thinking long term with their “totally noninvestment-type calculations.”


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: maggie fitzgerald, adam jeffery
Keywords: news, cnbc, companies, know, investors, sell, berkshire, warren, stocks, sells, trade, buffett, long, youre, buys, doesnt, common, using, method


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This start-up buys your home, rents it back to you and lets you profit if the value grows

They don’t have the credit scores to qualify for a home equity loan or a cash-out refinance. At the end of the lease, you choose if you want to stay or go. The company gives the homeowner about 70 percent of the appraised value of the home. That is because at the end of the lease term the former homeowner must either buy the home back or sell it to someone else. If they choose to have EasyKnock sell, they get the full value of the sale, including appreciation, minus the 70 percent EasyKnock paid


They don’t have the credit scores to qualify for a home equity loan or a cash-out refinance. At the end of the lease, you choose if you want to stay or go. The company gives the homeowner about 70 percent of the appraised value of the home. That is because at the end of the lease term the former homeowner must either buy the home back or sell it to someone else. If they choose to have EasyKnock sell, they get the full value of the sale, including appreciation, minus the 70 percent EasyKnock paid
This start-up buys your home, rents it back to you and lets you profit if the value grows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: diana olick, bob briscoe, david pence
Keywords: news, cnbc, companies, rents, sell, homeowner, lease, credit, term, end, value, lets, easyknock, grows, sale, startup, equity, buys, profit


This start-up buys your home, rents it back to you and lets you profit if the value grows

Homeowners today are sitting on a record amount of equity, thanks to the recent run-up in home prices, but a lot of them can’t access that cash. They don’t have the credit scores to qualify for a home equity loan or a cash-out refinance.

Enter EasyKnock, a barely 2-year-old company that will give you cash for your home and then let you stay on as a renter for up to five years. At anytime during that lease, you can buy your home back. At the end of the lease, you choose if you want to stay or go.

“EasyKnock is a company that is allowing people to access equity in their home that have been shut out by the traditional lending market,” said Jarred Kessler, CEO of EasyKnock. “Around 23 percent of the housing market has built up equity in their home and they can’t release it. That’s due to FICO score, about 15 million small-business owners who have been shut out by the credit markets, or people who have missed a credit card payment or mortgage payment.”

EasyKnock’s model is not, however, a traditional investor purchase. The company gives the homeowner about 70 percent of the appraised value of the home. This protects EasyKnock from any depreciation in the home over the term of the lease and simultaneously gives the homeowner a future stake in any appreciation in the home’s value. That is because at the end of the lease term the former homeowner must either buy the home back or sell it to someone else. If they choose to have EasyKnock sell, they get the full value of the sale, including appreciation, minus the 70 percent EasyKnock paid and minus a 1.5 percent commission on the final sale price.

EasyKnock makes money through monthly rent, which is negotiated as part of the sale, and through the extra fees tied to the purchase and to the inevitable sale of the home to someone else at the end of the lease term. Since it is not a lender, it does not need to consider FICO credit scores. Kessler said once the lease is up, the tenant has to decide whether or not to sell to a third party or buy the home back.

“We are not in the business of continuing to own homes,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: diana olick, bob briscoe, david pence
Keywords: news, cnbc, companies, rents, sell, homeowner, lease, credit, term, end, value, lets, easyknock, grows, sale, startup, equity, buys, profit


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This start-up buys your home, rents it back to you and lets you profit if the value grows

They don’t have the credit scores to qualify for a home equity loan or a cash-out refinance. At the end of the lease, you choose if you want to stay or go. The company gives the homeowner about 70 percent of the appraised value of the home. That is because at the end of the lease term the former homeowner must either buy the home back or sell it to someone else. If they choose to have EasyKnock sell, they get the full value of the sale, including appreciation, minus the 70 percent EasyKnock paid


They don’t have the credit scores to qualify for a home equity loan or a cash-out refinance. At the end of the lease, you choose if you want to stay or go. The company gives the homeowner about 70 percent of the appraised value of the home. That is because at the end of the lease term the former homeowner must either buy the home back or sell it to someone else. If they choose to have EasyKnock sell, they get the full value of the sale, including appreciation, minus the 70 percent EasyKnock paid
This start-up buys your home, rents it back to you and lets you profit if the value grows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: diana olick, bob briscoe, david pence
Keywords: news, cnbc, companies, startup, grows, end, lets, credit, profit, easyknock, homeowner, sale, equity, term, buys, lease, value, rents, sell


This start-up buys your home, rents it back to you and lets you profit if the value grows

Homeowners today are sitting on a record amount of equity, thanks to the recent run-up in home prices, but a lot of them can’t access that cash. They don’t have the credit scores to qualify for a home equity loan or a cash-out refinance.

Enter EasyKnock, a barely 2-year-old company that will give you cash for your home and then let you stay on as a renter for up to five years. At anytime during that lease, you can buy your home back. At the end of the lease, you choose if you want to stay or go.

“EasyKnock is a company that is allowing people to access equity in their home that have been shut out by the traditional lending market,” said Jarred Kessler, CEO of EasyKnock. “Around 23 percent of the housing market has built up equity in their home and they can’t release it. That’s due to FICO score, about 15 million small-business owners who have been shut out by the credit markets, or people who have missed a credit card payment or mortgage payment.”

EasyKnock’s model is not, however, a traditional investor purchase. The company gives the homeowner about 70 percent of the appraised value of the home. This protects EasyKnock from any depreciation in the home over the term of the lease and simultaneously gives the homeowner a future stake in any appreciation in the home’s value. That is because at the end of the lease term the former homeowner must either buy the home back or sell it to someone else. If they choose to have EasyKnock sell, they get the full value of the sale, including appreciation, minus the 70 percent EasyKnock paid and minus a 1.5 percent commission on the final sale price.

EasyKnock makes money through monthly rent, which is negotiated as part of the sale, and through the extra fees tied to the purchase and to the inevitable sale of the home to someone else at the end of the lease term. Since it is not a lender, it does not need to consider FICO credit scores. Kessler said once the lease is up, the tenant has to decide whether or not to sell to a third party or buy the home back.

“We are not in the business of continuing to own homes,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: diana olick, bob briscoe, david pence
Keywords: news, cnbc, companies, startup, grows, end, lets, credit, profit, easyknock, homeowner, sale, equity, term, buys, lease, value, rents, sell


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Louisiana abortion law won’t go into effect Monday as the Supreme Court buys itself time

The case is shaping up to be an important test of President Donald Trump’s two appointees to the high court, Justices Neil Gorsuch and Brett Kavanaugh. The dispute is over a state law that requires abortion providers to have admitting privileges at a hospital within 30 miles of their clinic. “Louisiana women are counting on the Supreme Court,” Nancy Northup, CEO of the Center for Reproductive Rights, said in a statement. “It has stepped in to block this very same type of law before, so this shou


The case is shaping up to be an important test of President Donald Trump’s two appointees to the high court, Justices Neil Gorsuch and Brett Kavanaugh. The dispute is over a state law that requires abortion providers to have admitting privileges at a hospital within 30 miles of their clinic. “Louisiana women are counting on the Supreme Court,” Nancy Northup, CEO of the Center for Reproductive Rights, said in a statement. “It has stepped in to block this very same type of law before, so this shou
Louisiana abortion law won’t go into effect Monday as the Supreme Court buys itself time Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: tucker higgins, alex wong, getty images
Keywords: news, cnbc, companies, kavanaugh, louisiana, wont, court, law, alito, gorsuch, stay, plaintiffs, supreme, effect, case, buys, state, abortion, justices


Louisiana abortion law won't go into effect Monday as the Supreme Court buys itself time

The case is shaping up to be an important test of President Donald Trump’s two appointees to the high court, Justices Neil Gorsuch and Brett Kavanaugh.

The dispute is over a state law that requires abortion providers to have admitting privileges at a hospital within 30 miles of their clinic. The plaintiffs have said that if the law goes into effect it will leave only one doctor performing abortions in the state, which has a population of nearly 5 million people.

“Louisiana women are counting on the Supreme Court,” Nancy Northup, CEO of the Center for Reproductive Rights, said in a statement. “It has stepped in to block this very same type of law before, so this should be an easy case. The court now has the chance to show that it will stand by its own precedent.”

One week ago, the nonprofit submitted an application for an emergency stay of the law, citing the Supreme Court’s ruling in 2016 that an identical law in Texas was unconstitutional. Justice Samuel Alito over the weekend granted a temporary stay, through Thursday, in an order that expressly did not take any side on the merits of the case.

Just before filing its rebuttal, Louisiana posted a one-page notice online outlining a 45-day process for verifying admitting privileges under the law. It said the protocol would avoid the “abrupt descent into chaos” that the plaintiffs warned about.

But Alito said that the justices needed more time. In his order, Alito reasoned that “the filings regarding the application for a stay in this matter were not completed until earlier today and the Justices need time to review” the arguments. Alito was automatically assigned the case but the dispute is expected to be reviewed by the full court.

Democrats and reproductive rights activists have hounded Gorsuch and Kavanaugh, both former appeals court judges, over their views on abortion, especially because Trump had said that he would appoint justices who would overturn the landmark case Roe v. Wade. Both men have said they view Roe as precedent, although they have refrained from saying that it was correctly decided.

The 2016 case that held Texas’ version of the law unconstitutional was decided by a 5-3 majority including retired Justice Anthony Kennedy. The opinion was handed down before either Gorsuch or Kavanaugh was confirmed to the bench.

If the full court acts on the matter, as Alito suggested would happen, it will take five justices to grant a stay. That means Gorsuch, Kavanaugh, or one of the other conservatives on the bench who dissented from the court’s 2016 decision would be required to join the panel’s liberal wing in order to prevent the law from taking effect.

While many pro-life groups championed Kavanaugh’s nomination, some have soured on the justice just months into his lifetime appointment because they say he has not yet done enough to limit abortion. If the court allows the law to go into effect, delivering a win to social conservatives, views on Kavanaugh could shift.

“This case will be a real test for the Court, particularly its newest members, as the public waits to see whether the Court respects its own precedent,” Brianne Gorod, chief counsel of the progressive Constitutional Accountability Center, said in a statement.

Louisiana Attorney General Jeff Landry, a Republican, said in a statement that the arguments made by the plaintiffs were “incomplete at best and misleading at worst” and defended the law’s “common-sense requirements that will protect the health and safety of Louisiana women.”

Landry’s office noted that the law was passed in 2014 by an 88-5 vote in the Louisiana House of Representatives and a 34-3 vote in the state’s Senate. The law was authored by state Rep. Katrina Jackson, a Democrat, and passed with bipartisan support.

The current application before the court is not a formal petition for the top court to hear arguments on the merits of the case, though such a petition is expected. If the court grants a review of the case, which only requires four justices, it would likely be argued next term, which begins in October.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: tucker higgins, alex wong, getty images
Keywords: news, cnbc, companies, kavanaugh, louisiana, wont, court, law, alito, gorsuch, stay, plaintiffs, supreme, effect, case, buys, state, abortion, justices


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