Business News

Off to the Races on Earnings Season

Yesterday’s big rally saw the Nasdaq post its highest close of 2016. The Nasdaq is on track to post its seventh weekly gain in eight weeks; the Dow and S&P 500 are still modestly negative for the week. (CNBC)
Costco reported net sales of $10.71 billion for the month of March, an increase of 3% from last year. Comparable sales for March 2016 over March 2015 were US up 1%, Canada up 3% and International down 1%. If you back out impacts from
gasoline price deflation and foreign exchange same store sales were better. The US was up 3%, Canada up 9% and International up 4%. Costco operates 702 warehouses, including 492 in the United States and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the United Kingdom, 24 in Japan, 12 in Korea, 11 in Taiwan, 8 in Australia and 2 in Spain. (Marketwired)

Bed Bath & Beyond reported a quarterly profit of $303.5 million. Results exceeded Wall Street expectations. The home goods retailer had sales of $3.42 billion in the quarter. Bed Bath & Beyond shares are up 1% since the beginning of the year and is down 37% in the last 12 months. (AP)

Oil is down 20 cents at $37.56 a barrel.

Gold is up $14 at $1238 a Troy ounce.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart

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