Fastenal Promotes Jeff Watts To Succeed Dan Florness As President; Florness To Continue As CEO

Fastenal Q3 Profit Climbs, But Misses Market View; Stock Down

Shares of Fastenal Co. were losing around 4 percent in the pre-market activity on the Nasdaq, after the company's's third-quarter profit missed market estimates, despite a growth. The provider of industrial and construction supplies recorded higher net sales, but inline with the Street view. Price contributed 240 to 270 basis points to growth, which was lower than expected.

RTTNews | 339 days ago

U.S. Pending Home Sales Rebound From Six-Month Low In August

A report released by the National Association of Realtors on Thursday showed a modest rebound in pending home sales in the month of August. NAR said pending home sales index rose by 0.3 percent to 71.2 in August after tumbling by 2.6 percent to a revised 71.0 in July. Economists had expected pending home sales to climb by 0.5 percent.

RTTNews | 2h 0min ago

Philly Fed Index Pulls Back Off Five-Year High In September

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a smaller-than-expected pullback by its reading on regional manufacturing activity in the month of September. The Philly Fed said its diffusion index for current general activity fell to 37.8 in September after climbing to 47.4 in August, although a positive reading still indicates growth.

RTTNews | 2h 12min ago

U.S. Housing Starts Unexpectedly Tumble 2.6% In August

New residential construction in the U.S. unexpectedly saw further downside in the month of August, according to a report released by the Commerce Department on Thursday. The Commerce Department said housing starts tumbled by 2.6 percent to an annual rate of 1.309 million in August after plunging by 9.0 percent to a revised rate of 1.439 million in July.

RTTNews | 2h 29min ago

U.S. Jobless Claims Unexpectedly Dip To Lowest Level Since Mid-July

A report released by the Labor Department on Thursday showed an unexpected decline in first-time claims for U.S. unemployment benefits in the week ended September 12th. The Labor Department said initial jobless claims fell to 196,000, a decrease of 10,000 from the previous week's unrevised level of 206,000. Economists had expected jobless claims to inch up to 208,000.

RTTNews | 2h 31min ago

Bank Of England Holds Rate Steady At 3.75%

The Bank of England left its key interest rate unchanged on Thursday amid limited evidence of second-round effects but further increase in energy prices raises the prospect of a hike in November. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to maintain the bank rate at 3.75 percent, the lowest rate since June 2023. The move was in line with economists' expectations.

RTTNews | 3h 54min ago

Philly Fed Index Pulls Back Much Less Than Expected In September

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a smaller-than-expected pullback by its reading on regional manufacturing activity in the month of September.

RTTNews | 4h 1min ago

U.S. Housing Starts Unexpectedly See Further Downside In August

New residential construction in the U.S. unexpectedly saw further downside in the month of August, according to a report released by the Commerce Department on Thursday.

RTTNews | 4h 6min ago

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