CNBC reports that Moody Analytics has estimated the damage from Hurricane Florence in the tens of billions, and could go higher. That’s bad, but an estimate from CoreLogic would make that estimate look puny. Frankly, news of China appeared to be the bigger market-mover today, but our focus this evening will be more on furious Florence, with its numerous MHVille connections, which will be our spotlight, below.
If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.
The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets. Headlines – at home and abroad – often move the markets. So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©
Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.
Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.
This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.
Want to know more about the left-right media divide from third party research? ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.
Select bullets from CNN Money…
- Saudi Arabia invests $1 billion in potential Tesla rival
- Instagram just made it a lot easier to shop on the app
- Caver sues Elon Musk for defamation
- MoviePass wants to prop up its stock price again
- Applause and anticipation from staffers a day after Time Magazine sale
- These iOS 12 features may improve your life
- Salesforce CEO Marc Benioff and his wife Lynne are buying Time Magazine
- Why moguls love to buy news outlets
- Amazon investigates claims that employees sold confidential data
- India struggles to find the answer to its slumping currency
- Trains and planes are booming. That’s good news for the economy
- BMW unveils its vision for a self-driving electric car
- Black-led VC firm raises largest debut fund: $137 Million
- Coal is still king in these 18 states. But for how long?
- Uber’s CEO: The one thing I wish I had fixed sooner
- Jaguar Land Rover workers on 3-day week because of Brexit
- The countries most vulnerable to the emerging markets storm
- Why the global slump won’t hurt the United States this time
- Jamie Dimon: Trump should take some credit for the strong economy
- 5 things you must do before you retire
- Chicago says ‘so long’ to Sears
- The first country to legalize pot is taking it slow
- Kavanaugh accuser feared an ‘annihilation’ in the press
- Michael Avenatti tells CNN why he went on Tucker Carlson’s show
- Disney and Comcast could be forced into a quick-fire auction for Sky
- Zello, offline chats and push alerts: How to stay connected during Hurricane Florence
- San Francisco Fed picks Mary Daly as new chief
- Samsung’s billionaire chief is heading to North Korea
- After the crash came the longest bull market ever. What now?
- Lehman Brothers: When the financial crisis spun out of control
- The US economy cratered in 2008. Here’s how far it’s come
- 10 years after the financial crisis, have we really learned anything?
- Henri Bendel is closing after 123 years in business
- Nike’s Colin Kaepernick gamble is already paying off
- GE is unloading yet another business
- Goldman Sachs is in a record losing streak
- What happened to Tucker Carlson? This journalist set out to find the answer.
Select Bullets from Fox Business…
- Billion-dollar ‘energy revolution’ is on the horizon: Interior Secretary Zinke
- Amazon has another $10 billion business on its hands
- Here’s what could cause the next financial crisis
- FedEx quarterly profit misses Wall Street estimate
- Saudi fund invests $1B in Tesla electric car rival Lucid Motors
- Middle-class income highest on record: Fact check
- IRS warns some retirees at risk of tax penalty: What to know
- Tax cuts 2.0 won’t pass before November: Kudlow
- Coke reportedly may create a cannabis-infused drink
- Why Americans still prefer to use cash for purchases under $10
- NHL’s New Jersey Devils say renovated suites will attract business owners
- China weighs skipping trade talks after U.S. tariff threat
- Saudi Arabia’s sovereign wealth fund secures $11B loan
- Should Amazon split into two companies?
- Wall Street salaries at highest since Great Recession: Report
- Elon Musk sued by British cave diver over ‘pedo’ remark
- The Aftermath of Florence
- Looters arrested as hurricane wreaks havoc in North Carolina
- Florence recovery ‘will take years:’ North Carolina Congressman
- How to get financial help when natural disasters strike
- Marc Benioff is just the latest billionaire to buy a news publication
- Tight job market means better pay, benefits – even for seasonal workers
- WD-40 enrolls armed security to move its ‘secret formula’ after 65 years
- Got an hour? Chalk up 4 quick financial wins
- These are the best countries to retire
- Here’s why you shouldn’t retire super early
- The FIRE concept is lit, but it’s not always worth it
- Trump calls North Carolina redistricting ruling ‘unfair’
- HHS Secretary Alex Azar forbids e-cigarettes as ‘on-ramp’ to youth addiction
- Apple Watch is going to save lives I predict: Dr. Marc Siegel
- GM recalls 1.2M pickups, SUVs for power steering problem
Today’s markets and stocks, at the closing bell…
Manufactured Housing Composite Value (MHCV)
Today’s Big Movers
For all the scores and highlights on tracked manufactured home connected stocks today, see the Bloomberg graphic, posted below.
Today’s MH Market Spotlight Report –
CNBC reports that property damage from Hurricane Florence is estimated at $17 billion to $22 billion, and that forecast could be conservative, depending on further flooding, according to Moody’s Analytics.
Economists so far see a minimal impact to growth from the hurricane, which Moody’s sees shaving 0.2 percentage points from third-quarter GDP.
That may explain why the markets have not reflected a major disruption as a result of the tragic results of Hurricane Florence.
But late last week, analytics and housing firm CoreLogic put their estimate at some $170 billion. That’s a huge difference, obviously.
As has been previously noted, there are manufactured home communities, business, and residents who have been impacted by the storm.
Thousands of FEMA Manufactured Housing Units (MHU) have been pre-positioned. Depending on how flooding plays out, thousands of more could be needed.
The bottom line for now is wait and see. It could take days, perhaps a week or more, before all of the flooding and related damage plays out. See the related reports, linked below.
Bloomberg Closing Ticker for MHProNews…
NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.
NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.
NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
LCI Industries, Patrick, UFPI and LP all supply manufactured housing.
AMG, CG and TAVFX have investments in manufactured housing related businesses.
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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.