Saturday, 5 Oct 2024

U.S. Homebuilder Confidence Drops More Than Expected In March

The Secret Sounds of ‘Dune’: Rice Krispies and Marianne Faithfull

Denis Villeneuve and his sound team explain how far they went to achieve an aural experience that would feel somewhat familiar, an unusual approach for sci-fi.

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By Kyle Buchanan

Photographs by Peter Fisher

Caleres Climbs 8% After Turning To Profit In Q4

Shares of footwear brand Caleres, Inc. (CAL) are rising 8 percent on Wednesday’s trading after the company turned to profit in its fourth quarter.

The company posted fourth-quarter net earnings of $33.9 million or $0.88 per share, compared to net loss of $77.0 million or $2.11 per share in the fourth quarter of last year.

Adjusted income was $34.9 million or $0.91 per share compared to adjusted income of $1.3 million or $0.03 per share in the same period a year ago.

Revenues rose to $679.3 million from $570.9 million last year.

Currently at $21.33, the stock has traded between $17.24 and $29.36 during the past 52 weeks.

Reckitt Recalls Over 3 Mln Bottles Of Airborne Gummies

Reckitt has recalled over three million bottles of airborne gummies due to risk of injury.

According to the company, the products were recalled because when the bottles are opened for the first time, pressure build up in the bottle can cause the cap and underlying seal to pop off with force, posing an injury hazard.

The recall involves only 63 and 75 count bottles of Airborne Gummies. They were sold in blueberry pomegranate, orange and assorted fruit flavors. The UPC numbers and lot codes of the recalled products can be found at CPSC website.

The company said it has received 70 reports of the cap or seal popping off the bottles, including 18 reports of minor injuries and one report of an eye injury that needed medical attention.

Reckitt has asked customers with an unopened bottle to not to open the product and contact Reckitt to return the unopened bottle to receive a full refund.

The recalled products were sold at Target, Walgreens, CVS, Kroger, Sam’s Club, BJ’s Wholesale Club, Costco, Walmart and other stores nationwide and online at Amazon.com and schiffvitamins.com from May 2020 through February 2022 for between $18 and $33.

Lennar Corp. Reveals Retreat In Q1 Profit, misses estimates

Lennar Corp. (LEN.B) revealed a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company’s earnings totaled $0.50 billion, or $1.69 per share. This compares with $1.00 billion, or $3.20 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $2.60 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 16.3% to $6.20 billion from $5.33 billion last year.

Lennar Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $0.50 Bln. vs. $1.00 Bln. last year.
-EPS (Q1): $1.69 vs. $3.20 last year.
-Analyst Estimates: $2.60
-Revenue (Q1): $6.20 Bln vs. $5.33 Bln last year.

Kris Bryant, Rockies agree to seven-year, $182 million deal, source says – The Denver Post

The Rockies got their man.

Kris Bryant, the versatile slugger that the Rockies have been seeking to boost their offense, has agreed to a seven-year, $182 million deal with the Rockies. ESPN’s Jeff Passan first reported the contract figures, and The Post confirmed the report through a source. The deal is pending a physical.

Last season, the four-time all-star played for both the Chicago Cubs and the San Francisco Giants, slashing .265/.353/.481 between the two teams.

This story will be udpated.

Shooting at an Adams County motel leaves one man dead

A man was shot dead at an Adams County motel on Tuesday, and a homicide investigation is ongoing.

At about 3:35 p.m. Tuesday deputies responded to the Venture Inn motel, 7333 Pecos St., where they found a man, who had been shot in the stomach, deceased in the in the doorway of a room. 

Anyone with information on the shooting is asked to call Metro Denver Crime Stoppers at 720-913-7867 (STOP).

 

European Economics Preview: Italy Inflation Data Due

Final consumer price data from Italy is due on Wednesday, headlining a light day for the European economic news.

At 4.00 am ET, construction output data is due from Hungary. Production had increased 29.0 percent annually in December.

At 5.00 am ET, Italy’s Istat releases final consumer and harmonized price data for February. According to preliminary estimate, consumer price inflation rose to 5.7 percent in February from 4.8 percent in January.

At 6.00 am ET, Greece unemployment data is due for January. The jobless rate stood at 12.8 percent in December.

Futu Holdings Stock Gains 25%

Shares of Futu Holdings Limited (FUTU) are gaining over 25% on Wednesday morning paring down losses it made in the past one month.

FUTU is currently trading at $32.96, up $6.71 or 25.56%, on the Nasdaq. As of March 14, the stock had lost nearly 47% in its market value in the one month period.

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program.

U.S. Homebuilder Confidence Drops More Than Expected In March

The National Association of Home Builders released a report on Wednesday showing a bigger than expected decrease in U.S. homebuilder confidence in the month of March.

The report showed the NAHB/Wells Fargo Housing Market Index dropped to 79 in March from a downwardly revised 81 in February. Economists had expected the index to edge down to 81 from the 82 originally reported for the previous month.

The NAHB noted the index dropped below 80 for the first time since last September as increasing development and construction costs have taken a toll on builder confidence even as buyer demand remains relatively solid.

The bigger than expected decrease by the index came as the gauge measuring sales expectations in the next six months plunged to 70 in March from 80 in February.

The index gauging current sales conditions also fell to 86 in March from 89 in February, while the component charting traffic of prospective buyers rose to 67 from 65.

On Thursday, the Commerce Department is scheduled to release a separate report on new residential construction in the month of February.

Housing starts are expected to jump by 3.2 percent to an annual rate of 1.690 million, while building permits are expected to slump by 2.4 percent to a rate of 1.850 million.

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