European Shares Poised For Positive Opening

European stocks are likely to open higher on Wednesday despite worries about rising energy costs and a hawkish Fed.

The yield on the 10-year Treasury climbed to 2.41 percent from 2.30 percent late Monday, reflecting expectations the U.S. Federal Reserve will raise interest rates by 50 basis points each at its May and June meetings.

Asian markets traded higher after U.S. stocks rallied overnight, led by technology companies.

The dollar gained against the Japanese yen after Ukrainian President Volodymyr Zelenskyy said talks between Ukraine and Russia are confrontational but moving forward.

Gold prices fell ahead of a speech from Fed Chair Jerome Powell while crude futures rose on concerns about tight global supplies.

Investors now wait to see what might happen with President Joe Biden joining a NATO meeting and EU Summit Thursday in Europe, where sanctions and the Russian oil embargo will likely top the agenda.

Joan Collins Just Gets on With It

The actress (don’t call her an actor, please) reflects on her seven-decade career, predatory Hollywood and why sometimes it’s better not to relive the past.

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By Alexis Soloski

Kid Rock just sold his Ford GT supercar for a small fortune

Reviewing the Ford GT, America’s fastest supercar

FoxNews.com automotive editor Gary Gastelu speaks out after test drive

Kid Rock just cashed in big time.

Kid Rock purchased is 2005 Ford GT new.
(RM Sotheby’s)

The rapping rock star sold his 2005 Ford GT supercar at the recent RM Sotheby’s Fort Lauderdale auction for $638,000.

The Ford GT is powered by a supercharged V8.
(RM Sotheby’s)

Kid Rock had owned the mid-engined coupe since it was new and put 3,096 miles on it while keeping it in its original condition.

Kid Rock’s GT remains it its original condition.
(RM Sotheby’s)

The price paid was significantly higher than the going rate for a GT, which is in the $450,000 range, and a big bump from its original price of around $140,000.

Progress Software Corp Q1 Profit Increases, beats estimates

Progress Software Corp (PRGS) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $20.45 million, or $0.46 per share. This compares with $18.96 million, or $0.42 per share, in last year’s first quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $43.56 million or $0.97 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 19.5% to $144.92 million from $121.28 million last year.

Progress Software Corp earnings at a glance (GAAP) :

-Earnings (Q1): $20.45 Mln. vs. $18.96 Mln. last year.
-EPS (Q1): $0.46 vs. $0.42 last year.
-Analyst Estimate: $0.85
-Revenue (Q1): $144.92 Mln vs. $121.28 Mln last year.

-Guidance:
Next quarter EPS guidance: $0.94 – $0.96
Next quarter revenue guidance: $145 – $148 Mln
Full year EPS guidance: $4.01 – $4.09
Full year revenue guidance: $609 – $617 Mln

Gold Futures Settle Lower For 3rd Straight Day

Gold futures extended recent losses and closed at near 3-week low on Tuesday, as the commodity’s safe-haven appeal dimmed after global equities moved higher amid signs of progress in Russia-Ukraine peace talks.

Gold prices dropped despite a weak dollar. The dollar index, which drifted down to 98.04, recovered some lost ground subsequently, but still remains notably lower at 98.50, about 0.6% down from the previous close.

Gold futures for April ended down by $27.60 or about 1.4% at $1,912.20 an ounce, losing ground for the third consecutive session.

Gold futures for June, the most active contract, settled lower by $26.70 or 1.4% at $1,918.00 an ounce.

Silver futures for May ended lower by $0.460 at $24.736 an ounce, while Copper futures for May settled at $4.7310 per pound, gaining $0.0055.

In U.S. economic news, a report released by the Conference Board showed an unexpected improvement in U.S. consumer confidence in the month of March.

The report showed the Conference Board’s consumer confidence index rose to 107.2 in March from a revised 105.7 in February. Economists had expected the index to dip to 107.0 in March from the 110.5 originally reported for the previous month.

The unexpected uptick by the headline index came as the present situation index jumped to 153.0 in March from 143.0 in February.

Man killed in serious car versus pedestrian crash on SH14 in Northland

A man has been killed in a car versus pedestrian crash on SH14 at Tangiteroria at 8am today.

Police and emergency services are at the scene, about 37km west of Whangārei, where attempts were made to revive the man.

A vehicle at the scene, a Toyota, appeared to be heavily damaged. Traffic management has now been removed.

The Serious Crash Unit has been advised.

Further details will be provided once available.