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Mar 26, 2019

Bulletproof 360

Watkins

Kinloch

In Seattle, Bulletproof 360 hired Cameron Kinloch as CFO and Brian Watkins as vice president of e-commerce. Kinloch has over 15 years of leadership experience in finance at Ripple Foods, Sunrun, Box and Netflix. Watkins has 20 years of e-commerce and omnichannel retail experience. He was CEO of Rep the Squad and president of Ritani.com. Bulletproof makes food, beverages and supplements that improve mind and body.

Stewart Title

Sarah Garner, Derek Lockett and Tina Ellis joined Stewart Title as business development officers. Garner is working in the Seattle office. She has more than 10 years of experience in the real estate industry, working for Windermere, WFG National Title and others. Lockett is working in the Puget Sound Division. He started his real estate career with Zillow as a senior business consultant and later was business development manager for WFG National Title. Ellis also is working in the Puget Sound Division. She has 25 years of real estate experience, with stints at Windermere Services, Windermere Real Estate, Ticor Title and Pacific Northwest Title.

PotlatchDeltic

In Spokane, PotlatchDeltic named Anna Torma as vice president of public affairs. Torma joined PotlatchDeltic a year ago as director of public affairs, after assisting Deltic Timber with its merger with Potlatch. Prior to Deltic, she was senior vice president of corporate affairs at Forestar Group. She succeeds Mark Benson, who is retiring after 42 years with Potlatch. PotlatchDeltic is a REIT that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi.

NWCCA

Jones

Till

Brown

Bagnell

Kahler

Yalowicki

Mueller

Holberg

The Northwest Wall and Ceiling Contractors Association elected its 2019 officers: Martin Holberg of Expert Drywall, president; Rick Mueller of Western Partitions, vice president; Cory Yalowicki of Superior Stucco Services, secretary-treasurer; and James Kahler of Northwest Partitions, immediate past-president. Directors are Doug Bagnell of Olympic Interiors, Josh Brown of Gordon Brown Associates and Ryan Till of Anning-Johnson. NWCCA also hired Jason W. Jones to manage the Carpenter Training Program. Jones has experience in business-to-business sales and sports-training group instruction. NWCCA members are signatory wall and ceiling contractors.

University Mechanical Contractors

Zonta

Lou Zonta joined University Mechanical Contractors as a business development leader focusing on major construction, building performance and technology projects in the Seattle commercial market. Zonta has 30 years of experience in business development consulting and business ownership, and was a managing broker. Mukilteo-based UMC provides mechanical design and construction, energy services and facility maintenance.

Korsmo Construction

Tacoma-based Korsmo Construction hired Dan Mundle as director of business development. Mundle has over 30 years of local commercial construction experience. Korsmo has been a general contractor since 1948.






Mar 22, 2019

Tech leads stocks higher

Technology companies powered a broad rally for U.S. stocks Thursday, snapping the market's two-day losing streak.

Apple and chipmakers led the wave of buying, helping to drive the technology sector to an overall gain of 2.5 percent. The sector is up 21.1 percent this year so far, well ahead of the S&P 500's 10 other sectors.

Retailers and industrial companies also notched solid gains, which easily offset losses in financial stocks.

Levi Strauss soared as the storied jeans maker went public for the second time.

The latest gains erased the market's modest losses from a day earlier, when the Federal Reserve said it expected the U.S. economy to slow down and that it no longer expected to raise interest rates this year.

While investors appeared to be circumspect about the central bank's economic outlook, any concerns seemed to take a backseat Thursday to the likelihood that the Fed will hold off on raising interest rates.

“Overall, stocks are rallying because interest rates have gone down and we know that the Fed is going to continue to be the market's friend,” said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. “There's absolutely no reason not to be in stocks when you have an incredibly dovish Fed that is going to support asset prices.”

The S&P 500 index rose 30.65 points, or 1.1 percent, to 2,854.88. The Dow Jones Industrial Average gained 216.84 points, or 0.8 percent, to 25,962.51

The Nasdaq composite, which his heavily weighted with technology stocks, climbed 109.99 points, or 1.4 percent, to 7,838.96. The Russell 2000 index of smaller-company stocks picked up 19.25 points, or 1.2 percent, to 1,562.41.

Major European stock indexes finished mostly lower.

Despite a couple of downbeat days, the S&P 500 is closing in on its second straight weekly gain. The benchmark index is up 13.9 percent so far in 2019. That's better than the full-year gains for the benchmark index in four of the past five years.

Thursday's rally came as investors weighed the latest batch of company earnings reports and some key analyst stock upgrades.

Apple climbed 3.7 percent after analysts at Needham & Co. upgraded the technology giant's stock to a strong “Buy,” saying the company's new services initiatives could attract new users. The company has made several product announcements this week and has an event scheduled next Monday where presumably more announcements will be made.

Chipmakers gained after Micron Technology issued a strong outlook for the year. The company jumped 9.6 percent after the its forecasts for the fourth quarter topped Wall Street's estimates and said it expects the memory chip market to recover in the second half of the year.

The upbeat forecast helped lift some of its peers. Nvidia rose 5.5 percent and Advanced Micro Devices climbed 8.5 percent.

Levi Strauss soared after its IPO hit the market for the second time the brand's 166-year history. The company previously went public in 1971, but the namesake founder's descendants took it private again in 1985.

The stock jumped 31.8 percent Thursday from its offering price of $17.

The strong demand for shares in Levi, which owns the Dockers and Denizen brands, is a good sign for other companies eyeing an IPO this year, said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

“It does bode well, particularly since it's an IPO for a non-tech firm, it probably speaks well of the overall market conditions and investor sentiment,” he said.

Traders were not as keen on rival clothing brand Guess. The company gave a disappointing fourth-quarter report and forecast, which sent its shares 12.5 percent lower.

Drugmaker Biogen also slumped on news that the company stopped a trial for an Alzheimer's drug. The biotechnology giant and its partner determined that the drug would likely be ineffective.

The company's shares plunged 29.2 percent as it lost more than $17 billion in market value.

Financial stocks finished broadly lower for the second straight day, hurt by the prospects for lower interest rates. Fifth Third Bankcorp led the slide, dropping 3.7 percent.

Banks slumped Wednesday after the Fed's outlook for interest rates this year triggered one of the biggest slides for Treasury yields in months.

Bond prices held steady Thursday. The yield on the 10-year Treasury note was unchanged at 2.53 percent.

Energy futures prices finished mixed. Benchmark U.S. crude slid 0.4 percent to settle at $59.98 a barrel. Brent crude fell 0.9 percent to close at $67.86 a barrel.

Wholesale gasoline added 0.2 percent to $1.92 a gallon, heating oil dropped 1 percent to $1.99 a gallon and natural gas was little changed at $2.82 per 1,000 cubic feet.

The dollar rose to 110.79 yen from 110.61 Japanese yen on Wednesday. The euro weakened to $1.1354 from $1.1446.

Central Co-op

Catherine Willis Cleveland on Monday will become the new CEO of Central Co-op, the 40-year-old community-owned grocer based in Seattle. Cleveland has 13 years of experience as a store director and community relations manager at PCC Community Markets, and spent 10 years leading other nonprofits. She replaces Garland McQueen, who will return to Georgia to spend time with family after a short transition period to help open a new store in Tacoma.

Cascade Public Media

Victor Hernandez is the new executive editor at Cascade Public Media in Seattle, home of KCTS 9 and Crosscut. Hernandez supervised 50 journalists while at CNN. He also lead newsrooms at NBC affiliates in San Diego and Fresno, California.

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