Traders are losing faith in the possibility of a March interest rate cut by the Federal Reserve, while long-term inflation expectations show an upward trend. Rate Cut Speculation Fades According to the CME FedWatch Tool, Fed-funds futures suggest a 52.6% chance of no quarter-point rate cut at the Fed's March meeting. This is the highest probability of no action in over a month. … [Read more...] about Traders Question Rate Cut as Inflation Expectations Rise
Hilcorp San Juan to Pay $34.6 Million for Underpaid Royalties
Hilcorp San Juan has agreed to pay a sum of $34.6 million as part of a settlement with the Department of Justice. The settlement resolves allegations that the company knowingly underpaid royalties owed on oil and natural gas produced from federal lands. Cooperating fully with the investigation, Hilcorp expressed its satisfaction in reaching an agreement to resolve the matter. … [Read more...] about Hilcorp San Juan to Pay $34.6 Million for Underpaid Royalties
Hermès Reports Strong Q3 Sales
Luxury goods seller Hermès International has announced that its sales continued to grow during the third quarter of this year. Despite concerns about a wider slowdown in the luxury sector, the French fashion house reported a 16% increase in sales to €3.36 billion ($3.58 billion). This exceeded the predictions of five analysts polled by FactSet, who had estimated sales worth … [Read more...] about Hermès Reports Strong Q3 Sales
PulteGroup Reports 1.7% Increase in Third-Quarter Earnings
PulteGroup, the Atlanta-based homebuilder, saw a modest 1.7% rise in third-quarter earnings despite the impact of rising interest rates. The company reported a net income of $638.8 million, or $2.90 a share, surpassing the average Wall Street estimate of $2.83 a share. Strong Net New Orders and Revenue Growth PulteGroup experienced a significant increase in net new orders, with … [Read more...] about PulteGroup Reports 1.7% Increase in Third-Quarter Earnings
Sherwin-Williams Reports Strong Third-Quarter Performance
Sherwin-Williams, the Cleveland-based paint maker, exceeded expectations in its third-quarter financial results. Despite a slowdown in the housing market, the company experienced an increase in demand for repainting properties. Impressive Financial Figures For the quarter ended September 30, Sherwin-Williams recorded net income of $761.5 million, or $2.95 per share. This … [Read more...] about Sherwin-Williams Reports Strong Third-Quarter Performance
