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☆ Advance Auto Parts reaches deal with Dan Loeb's Third Point, Saddle Point for three board seats
▼ + stars: | 2024-03-11 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

An exterior view of the Advance Auto Parts store at the Sunbury Plaza, in Sunbury, Pennsylvania. Dan Loeb's Third Point and activist Saddle Point have a stake in Advance Auto Parts and reached a settlement with the company that will give the activists three board seats, the company confirmed Monday. Tom Seboldt, Gregory Smith and Brent Windom will join Advance Auto Parts' board effective immediately, the company said. Advance Auto Parts shares rose 3.7% after The Wall Street Journal reported the news of Third Point's position and settlement. Roy Katzovicz, Saddle Point CEO and former Pershing Square partner, said Advance Auto Parts had "enormous potential."

Persons: Dan Loeb's, Tom Seboldt, Gregory Smith, Brent Windom, Shane O'Kelly, " O'Kelly, Point's Loeb, Roy Katzovicz Organizations: Advance, Street Journal, Pershing Square Locations: Sunbury, Sunbury , Pennsylvania

Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls. WanaBana of Coral Gables, Florida, previously recalled of all lots and expiration dates of its apple cinnamon fruit puree. State health officials analyzed multiple lots of the product and detected “extremely high” concentrations of lead. The FDA's Coordinated Outbreak Response and Evaluation Network is leading the investigation in cooperation with the U.S. Centers for Disease Control and Prevention and state and local health officials. Most children have no obvious symptoms, so it’s important that kids who are exposed get tested to check levels of lead in their blood.

Persons: Louis Organizations: U.S . Food, Drug Administration, Schnucks, St, Weis Markets, FDA, Eatwell Markets, U.S . Centers for Disease Control, American Academy of Pediatrics, AAP, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: U.S, Sunbury , Pennsylvania, Coral Gables , Florida, Schnucks, North Carolina

☆ A 'ferry house' made famous by Charles Dickens was converted into a 4-bedroom home with a private mooring. Now it's on the market for $2.8 million.
▼ + stars: | 2023-09-11 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: 1 min

A former ferry house just outside of London is on the market for £2.25 million, or around $2.8 million. The ferry house. DextersThe former ferry house on the River Thames was converted into a four-bedroom house in 2016 and comes with its own private mooring and a boat house, a spokesperson for real-estate agency Dexters told Insider. It has an open-plan reception, kitchen, and dining area, and an outdoor patio and terrace with views of the river, according to Dexters' press release. The property is located in Sunbury village, which is around a 45-minute train journey to central London, the press release states.

Persons: Dexters Locations: London, Sunbury

☆ Stocks making the biggest premarket moves: Advance Auto Parts, Icahn Enterprises, Meta, Fisker and more
▼ + stars: | 2023-07-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

An exterior view of the Advance Auto Parts store at the Sunbury Plaza. Check out the companies making the biggest moves before the bell:Advance Auto Parts — Advance Auto Parts declined 2.4% in the premarket after Atlantic Equities on Monday downgraded the stock to underweight, and cut its price target to $50. Meta Platforms — Shares of the social media company rose about 1% in premarket trading. Fisker — The electric vehicle maker's stock rose less than 1% after the company announced a $340 million convertible note offering, with the potential to increase it to $680 million. Charles Schwab — Shares of the brokerage firm rose 1.9% in premarket trading after JMP upgraded Schwab to market outperform from market perform.

Persons: Sam Hudson, Carl Icahn, Mark Zuckerberg, Fisker, Charles Schwab —, JMP, Schwab, Morgan Stanley, Yun Li, Sarah Min, Jesse Pound Organizations: Advance, Journal, Shockwave Locations: Sunbury

☆ Melbourne rocked by largest earthquake in over 120 years
▼ + stars: | 2023-05-29 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +2 min

CNN —Melbourne was shaken Sunday by a rare and shallow earthquake – the largest earthquake to hit the Australian city in over a century – swaying buildings but ultimately causing very little damage. Adam Pascale, chief scientist at the Victoria-based Seismology Research Centre, said the earthquake was the largest within 40 kilometers of Melbourne since a magnitude 4.5 quake hit in 1902. “Felt like a plane crashed next to my house or something,” one resident said, according to CNN affiliate 7News. Earthquakes are not as common in Australia though the continent does experience seismic activity due to tectonic plate movement. In 2021, Victoria experienced a magnitude 5.9 earthquake that caused some minor structural damage in Melbourne despite hitting nearly 200 kilometers away.

Mortgage rates had been broadly declining since October but resumed their ascent in recent weeks on expectations the Fed will keep its federal funds rate higher for longer. While house prices probably had a bit further to fall, an overall housing shortage will broadly support these historically-elevated levels, Sunbury said. "We don't think affordability will return to its post-GFC levels or even its pre-pandemic average in the coming years." The 30-year fixed mortgage rate, currently at 6.5%, will average 6.35% this year, the poll found. (For other stories from the Reuters quarterly housing market polls:)Reporting by Indradip Ghosh and Prerana Bhat; Polling by Susobhan Sarkar and Sujith Pai; Editing by Hari Kishan, Ross Finley and Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. house prices to fall 12% peak to trough: analysts - Reuters poll
▼ + stars: | 2022-12-02 | by ( Hari Kishan | ) www.reuters.com time to read: +3 min

Such a modest fall after a 40% rise in average house prices over the last two years based in part on a surge in demand for more space during the COVID-19 pandemic will not be enough to make housing affordable, analysts said. House prices have doubled in the last decade but a doubling in mortgage rates since the start of this year from 3.3% to around 6.5% has brought the historic boom to a screeching halt. Average U.S. house prices as measured by the Case Shiller 20-City index are forecast to rise 13.6% this year and fall over 5.6% in 2023, the Nov. 8 - Dec. 2 poll of 25 housing strategists showed. If realized, it would be the first full-year decline in house prices in a decade. Average U.S. house prices peaked in June on this measure and are already down about 4% since then.

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