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George Noorey
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George Noorey
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Business News


Home improvement retailer Lowes saw profits climb 16% in Q1 on sales that climbed 2%.  The company cited the rough winter for the lower than expected sales increase and expects to be up 5% for the entire year. (Associated Press)

Dick’s Sporting Goods saw its fifth quarter of single digit earnings growth posting a 4% increase in the first quarter.  That comes as sales increased 8%.  The number was below expectations as the company saw big declines in their golf and hunting lines. (Investor Business Daily)

Mortgage applications for new home purchases fell 3% last week and are down 12% from a year ago.  This is despite conforming loan rates, homes below $417,000, being at their lowest levels since last Thanksgiving and jumbo rates being their lowest in a year.  (Mortgage Bankers Association)

All-cash home purchases accounted for 43% of all home sales in the first quarter of 2014. That is up 19% from a year ago. Only 5.6% of all sales were investors, the rest were purchasing homes to live in. (Market Watch)

A Gallup poll shows only 27% of Millennials (those born after 1980) own stocks – down from 33% in April 2008.  The group was scared by the Great Recession and as a group has missed the big rally that followed and the corresponding gains. (Bloomberg)

 

Traffic & Weather

 

 

 

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 
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