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Kim Komando
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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

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road closed between Butler Market Road and Bennington Lane. (8/18)

 

Round-About Construction:

 

Murphy Road and Parrell Road closed with detours. (9/30)

 

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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