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Shares of the big box retailer Target are higher after reporting blowout third-quarter earnings. Target reported adjusted earnings of $2.79 per share on revenue of $22.63 billion. Wall Street expected earnings of $1.60 per share. Target’s curbside pickup service grew more than 500% and its home delivery service Shipt was up nearly 280%.

 

U.S. homebuilding increased more than expected in October, suggesting the housing market continues to be sustained by historically low mortgage rates even as the economic recovery shows signs of strain amid a resurgence in new Covid-19 infections.  Housing starts rose 4.9% to a seasonally adjusted annual rate of 1.530 million units last month.

 

The FAA has cleared Boeing’s 737 Max to fly passengers again after a nearly two-year ban, a turning point in a protracted crisis for the aircraft giant stemming from two crashes of its top-selling plane that killed 346 people.

 

More than 3,700 Les Schwab Tire Centers employees in Oregon are due to receive $2,500 checks this month as part of a settlement over a 2017 class-action lawsuit that alleged the chain hadn’t given workers enough time for lunch.  The suit alleged the Schwab employees hadn’t received the full, 30-minute lunch breaks. The Bend-based company continues to maintain that it provides the requisite lunch breaks but agreed to pay $16 million to settle the case anyway.

 

With Northwest Quadrant Wealth Management, I’m Tyler Simones
 
 

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