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Business News


 

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.

 

Traffic & Weather

  • Brookswood Blvd CLOSED >< Pinebrook and Lodgepole Dr. (5/14 - 9/4)
  • Bradbury Way closed through September 9th.
  • Lane Closure on Portland Avenue from College Way to 9th Street (9/1-3)
 
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