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George Noorey
George Noorey
9:00pm - 12:00am

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Business News

US Stocks closed higher yesterday as investors shrugged off worries over the slowing economy in China and a deteriorating situation in the Ukraine.  This morning US stocks have opened

Target fired their CEO yesterday.  Greg Steinhafel worked at Target for 35 years and was considered to be a lifer known for his great merchandising abilities.  Unfortunately for him the huge data breach over the holidays and a money loosing expansion in Canada were enough for the board to ask for his resignation.  Shares of Target lost 3.5% on the news.(yahoo finance)

Merck announced this morning that they are going to sell their consumer care business to Bayer for $14 million.  The deal will make Bayer the largest seller of over the counter drugs in the US.  Shares of Merck rose on the news while Bayers stock sold off.(marketwatch.com)

According to the US Census Bureau home ownership here in the US is at it's lowest level since 1995.  Only 13% of Americans consider home ownership as their number one financial goal.  There are 20 million US households that are currently able to purchase a home but are choosing to rent instead.  Most economists agree that this is a positive because people are saving for retirement instead of being house rich and cash poor.(marketwatch.com)

And shares of Twitter are down over 7% this morning because today is the day that insiders can sell 489 million shares that have been locked up.  Wall Street thinks there will be a lot of selling pressure in shares of Twitter as insiders cash out.(yahoo finance)


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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