Business News

Local Bank Earnings Good

Umpqua Holdings the state's biggest bank reported quarterly profits of $69.2 million. The bank posted $283.9 million in sales. Assets hit a record $24.1 billion, up 6% from a year ago. Deposits climbed to $18.3 billion. (PBJ)
Home resales rose in June 1.1% to an annual rate of 5.57 million units, their fastest pace in more than nine years. Mortgage rates fell in June to their lowest levels since 2013. The number of unsold homes on the market, already low, in June dropped 0.9% to 2.12 million units. The median house price rose 4.8% from a year ago to a record $247,700 last month. (National Association of Realtors)
AT&T reported quarterly earnings of $0.72 per share on revenue of $40.5 billion. The acquisition of DirecTV continues to drive the company’s revenue. DirecTV has added nearly one million subscribers in the last year, including 342,000 during the second quarter. (DBJ)
Starbucks reported quarterly earnings of 49 cents per share, matching expectations. Revenue disappointed. Starbucks saw a 4% percent increase in same store sales in both the U.S. and globally. (CNBC)
Join us this weekend for Financial Focus Radio when we will talk life insurance and bonds.
S&P 500 is up 2 and the NASDAQ is up 5.  MSCI International Index is up 0.31%.
Oil is flat at $44.75 a barrel.
Gold is down $7 at $1324 a Troy ounce.

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