Equity markets shot up yesterday celebrating the first day of spring and rebounding from the Fed sell-off from the day before.
Nike global sales rose 12.7% last quarter to $6.97 billion. Profits were essentially flat on a per share basis. Future orders were way up. However Nike stock is down 3% in pre-market trading as the company says a stronger dollar and weaker currencies will be a big and continuing hit to the bottom-line this year. (Reuters)
The sale of previously owned homes in the US fell to 20-month lows in February. Rising prices and increasing borrowing costs were cited as drags. (Bloomberg)
Oregon’s other Fortune 500 company; Precision Castparts is acquiring Aerospace Dynamics International for $625 million in cash. The acquisition is the company’s 14th in the last two years and brings 625 new employees to the company. (The Street)
The price of limes for your Margarita may be going up. Growers in Mexico are limiting their harvesting of the tart fruit to maintain higher prices. Lime prices were up 68% in February alone in Mexico. (Bloomberg)
Join us Saturday at 10 for Financial Focus when Tyler and I will talk about a new report showing how you may be leaving money on the investing table.