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It was the Fifth Dimension that sang “Up Up and Away in my Beautiful Balloon” and they could have been singing about this market as the S&P 500 hit new record highs yesterday.  But remember nothing defies gravity forever.

 

On the earnings front:

 

·       Northwest fitness equipment maker Nautilus is back from the brink of two years ago posting an over 15% increase in sales and a profit pop of over 200% in the latest quarter. New products and leadership are making the difference.

·       Oregon electronic display company Planar, posted strong quarterly results increasing sales 22% year-over-year but still lost money for the ninth consecutive quarter. The company expects strong sales growth to continue and say they will post a profit for the full year.

 

New unemployment claims came in at 323,000 down 4,000 and another 5 year low.  That is good jobs news.

 

Dave’s Killer Bread sold 50% of the family ownership to Goode Partners late last year.  In the next step to make the company a national bread chain, they have named a new CEO.  John Tucker will take over on May 15th, replacing 3rd generation family member Shobi Dahl.

 

Daimler Trucks North America said sales slipped 6% in the area serviced by its Portland production facility. The Portland plant layed off 230 people in February.  They do see a light on the horizon as incoming orders are up 32% from a year ago.

 

The S&P 500 is down 3 and the NASDAQ is down 8.

 

Oil is down 75 cents at $95.75 a barrel.

 

Gold is down $12 at $1460 a Troy ounce.

Help Puerto Rico

Most organizations are asking for cash, rather than supplies, so they can route help to where it’s needed most more quickly. Here are some of the largest groups with campaigns underway:

 

Traffic

 

 

  • Click on the link for the latest conditions on the mountain passes.

 

  • Intersection of NW Broadway Street and NW Delaware for waterline replacement project, road closures with detours clearly marked for thru traffic, 7 a.m. – 4 p.m. daily with roads opened nightly. Motorists are encouraged to avoid this area and use Bond Street and Wall Street.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.