The Federal Reserve has not raised interest rates yet but the free market is headed that way. The 10-year Treasury yield hit an 8-month high, just shy of 2.50% yesterday. This morning, U.S. bond yields are edging higher as did rates on the German bund, now trading at about 1%. (CNBC)
Men's Wearhouse reported adjusted quarterly profit of 54 cents per share, beating estimates by 2 cents, with revenue also above forecasts. The clothing retailer also signed a deal with Macy's to operate tuxedo rental stores. The deal will last 10 years and it will be the exclusive provider of tuxedo rentals to Macy's. (AP)
Qorvo, the chipmaker created when Hillsboro-based TriQuint Semiconductor combined with RF Micro Devices, will join the S&P 500 today. The merger which closed at the beginning of the year, was the largest deal of its kind in the history of Oregon technology. Qorvo now has a market capitalization of $12 billion. It's replacing cigarette maker Lorillard, that is being sold to Reynolds American. (Oregon Live)
Last week, Medford-based Lithia Motors became the third Oregon Company on the Fortune 500 list. It joined Nike and Precision Castparts as one of the largest 500 companies in the nation based in Oregon.