Good morning from the business news desk of the Star Tribune.
Strong 2Q results this morning from two more Minnesota companies.
TCF said its 2Q net rose 38% to $53 million. EPS was 29 cents, two cents better than the analysts' consensus. Revenue was also in line.
Arctic Cat also came in better than expected with EPS of 35 cents vs. the 32 cents forecast by analysts. Revenue was $143.6 million, well above the $132.8 million. A big quarter for a company that had a loss in the January-to-March period and lowered expectations for this year.
Durable goods orders turned higher in June, with the 0.7% gain beating the expected 0.5%, after falling in May.Details here.
U.S. stock futures are lower after mixed trading around the world today. Asian markets finished mostly higher, while European markets are uniformly lower at the moment with a couple hours left in the day there.
by Evan Ramstad, Digital...7/25/2014 1:09:20 PM
US stock index futures point to a lower open on Wall Street with #DJIA currently 60 points lower, while S&P is off by 6 points ^FR
Arctic Cat shares are down 5% in the opening minutes...
While the maker of snowmobiles and ATVs fared better than expected in the April-to-June quarter, its gross margin was sharply lower and executives said the firm will continue to be pressured by the weak Canadian currency. It's a signal they gave three months ago but they underscored it today. The margin also took a hit from lower pricing to companies for which Arctic Cat builds machines as a contractor...
Winona-based Peerless Industrial Group has been sold to the American-based subsidiary of Japan's KITO Corp. Peerless makes chains, overhead lifting, cargo control and material handling products. Peerless posted the press release and Winona Daily News had a story. ($ site)