Business News

Taking their ball and Going Home

Bank of the Cascades has closed on its deal to buy Prime Pacific Bank which was headquartered in Lynnwood Washington for $17.1 million. Prime Pacific had a $122.9 million in assets, $100.7 million in loans. (PBJ)
 
Gun maker Sturm Ruger's saw sales jump 19%, to $168 million in the second quarter. Profits climbed 34%. The FBI reported July was the busiest July on record for background checks, putting 2016 on pace to set an annual record. (CNN)
 
Nike is taking its golf ball and going home. Nike plans to stop making golf clubs, balls and bags.  It will instead focus on golf shoes and sportswear. Nike made sales of $706 million on golf in the company's last fiscal year, compared to $5 billion generated by its running sector or $2.7 billion from Jordan Brand sales. (CNN)
 
Markets are shrugging off weaker-than-expected Chinese trade data that showed a 4.4% decline in exports and a 12.5% slump in imports compared with last year. (CNBC)
 
S&P 500 is up 2 and the NASDAQ is up 4.  MSCI International Index is up.
 
Oil is up 86 cents at $42.66 a barrel.
 
Gold is down $5 at $1340 a Troy ounce.
 
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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