Twenty-Year Bond Auction Attracts Strong Demand

The Treasury Department announced the results of this month’s auction of $16 billion worth of twenty-year bonds on Wednesday, revealing the sale attracted well above average demand.

The twenty-year bond auction drew a high yield of 2.651 percent and a bid-to-cover ratio of 2.72, while the ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.39.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

Last month, the treasury sold $19 billion worth of twenty-year bonds, drawing a high yield of 2.396 percent and a bid-to-cover ratio of 2.44.

KB Home Q1 Profit Rises, but misses estimates

KB Home (KBH) released earnings for its first quarter that increased from last year but missed the Street estimates.

The company’s bottom line totaled $134.26 million, or $1.47 per share. This compares with $97.05 million, or $1.02 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $1.56 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 22.8% to $1.40 billion from $1.14 billion last year.

KB Home earnings at a glance (GAAP) :

-Earnings (Q1): $134.26 Mln. vs. $97.05 Mln. last year.
-EPS (Q1): $1.47 vs. $1.02 last year.
-Analyst Estimate: $1.56
-Revenue (Q1): $1.40 Bln vs. $1.14 Bln last year.

ReneSola Ltd. Q4 Earnings Summary

Below are the earnings highlights for ReneSola Ltd. (SOL):

Earnings: -$1.58 million in Q4 vs. $1.98 million in the same period last year.
EPS: -$0.02 in Q4 vs. $0.04 in the same period last year.
Excluding items, ReneSola Ltd. reported adjusted earnings of $2.49 million or $0.04 per share for the period.

Revenue: $22.82 million in Q4 vs. $16.40 million in the same period last year.

Pension changes: What did Rishi Sunak announce about pensions in his spring statement?

Pensioner tells UK government: Time to give something back!

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The spring statement is the first opportunity the Chancellor has to outline his financial plans for the year ahead. Traditionally, it would unveil ambitious new Government programmes designed to curry favour among the electorate. Economic hardship has forced Mr Sunak on the back foot, and pensioners received little news from his announcement.

What did Rishi Sunak announce about pensions?

Pensioners were left with little celebration last year after the Government abandoned a central promise. 

In September 2021, it binned a 2019 campaign pledge to preserve the pensions triple lock late last year.

Under the policy, pensions increase in line with inflation or average wage growth, or 2.5 percent if those are both lower.

Despite rumours, Mr Sunak made no announcement about whether it could return. 

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Beyond Meat And PepsiCo Launch Meatless Jerky

Beyond Meat, Inc. (BYND) and PepsiCo, Inc. (PEP) Wednesday announced the launch of Beyond Meat Jerky.

The plant-based jerky is the first product from the two companies’ joint-venture, Planet Partnership, LLC. The product will roll out in stores nationwide starting in March. It will be available in three flavors: original, hot and spicy, and teriyaki.

Beyond Meat Jerky contains 10g of protein per serving, no cholesterol, and is made with simple, plant-based ingredients like peas and mung beans, all without GMOs, soy or gluten.

Beyond Meat and Pepsi had launched the joint venture in 2021 and combines Beyond Meat’s technology in plant-based protein development and PepsiCo’s commercial capabilities.

“We are thrilled to introduce the first product from Planet Partnership, our joint venture with Beyond Meat and PepsiCo,” said Dan Moisan, CEO of Planet Partnership. “The nationwide launch of Beyond Meat Jerky will make plant-based meat accessible to millions of households. It tastes great, it’s a good source of protein, and it’s convenient to eat whether you’re on the go, at the office or out on adventures.”

Maison Battat Recalls Wooden Activity Toddler Walker Due To Choking Hazard

This recall is initiated by Maison Battat for the B. toys Wooden Activity Walker named Walk ‘n’ Learn. The product is a wooden activity walker with yellow sides, blue wheels and various colored activity features on the front. B. toys Walk ‘n’ Learn is printed on the packaging and label.

The hazard in this particular case is that the wheels and wheel attachment hardware can easily detach from the walker in small pieces, thus posing a choking hazard for young children. Around 17,200 units of the toy have been sold in the US and around 2,400 in Canada.

Till now, Battat has received six reports of the wheels and attachment hardware becoming loose, including one report of a child putting a detached metal nut in her mouth.

The company said that consumers who have the faulty toy should immediately take it away from young children and contact Battat for a free repair kit with replacement wheels, attachment hardware and installation instructions. The known purchasers are being contacted directly by Battat.