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Top News & Analysis Charlotte

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  • BOSTON, Sept 4- Proxy adviser Institutional Shareholder Services on Friday recommended Bank of America shareholders vote to strip Chief Executive Brian Moynihan of his additional title of chairman, joining a chorus of critics ahead of a Sept. 22 shareholder meeting on the matter. The Charlotte, North Carolina- based bank, which named Moynihan chairman in 2014,...

  • That would underscore the economy's vibrancy in the face of volatile global financial markets and China's slowing growth, and keep alive the prospect of the Fed raising benchmark overnight rates at its next policy meeting, on Sept. 16-17. "We don't think it will detract from the possibility that the Fed is considering a September rate hike, only if we saw ominous...

  • Piedmont Natural Gas reports 3Q loss Thursday, 3 Sep 2015 | 8:36 AM ET

    CHARLOTTE, N.C. _ Piedmont Natural Gas Co. on Thursday reported a loss of $8.3 million in its fiscal third quarter. Piedmont Natural Gas expects full-year earnings to be $1.82 to $1.92 per share. Piedmont Natural Gas shares have decreased slightly more than 4 percent since the beginning of the year.

  • Albemarle moving corporate headquarters to Charlotte Tuesday, 25 Aug 2015 | 12:53 PM ET

    NEW YORK— Albemarle is moving its corporate headquarters and performance chemicals business from Baton Rouge, Louisiana, to Charlotte, North Carolina. The specialty chemicals company said that it's also moving workers at its refining solutions business in Baton Rouge to an existing office in Clear Lake, Texas. Albemarle Corp. said that about 120 of its...

  • Premier Inc. meets 4Q profit forecasts Monday, 24 Aug 2015 | 4:33 PM ET

    CHARLOTTE, N.C.— Premier Inc. on Monday reported fiscal fourth-quarter net income of $8 million. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 36 cents per share. Nine analysts surveyed by Zacks expected $262.5 million.

  • Belk to sell itself and go private in $3B deal Monday, 24 Aug 2015 | 11:34 AM ET

    CHARLOTTE, N.C.— Department store chain Belk Inc. says it has agreed to sell itself to New York- based private equity firm Sycamore Partners and go private in a deal that it valued at about $3 billion, including assumed debt. Under the terms of the agreement, Belk stockholders will receive $68 for each of their shares. Tim Belk will remain as the company's CEO and the...

  • Aug 24- Fashion department store operator Belk Inc said it would be acquired by private equity firm Sycamore Partners in a deal valued at about $3 billion, including debt.

  • WASHINGTON, Aug 3- U.S. factory activity slipped in July and consumer spending advanced at its slowest pace in four months in June, indicating that the economy had lost some momentum recently. "We expect growth momentum to re-accelerate over the next few months, providing the Fed with the necessary confidence they need to raise rates in September," said Millan...

  • Aug 3- Jeld-Wen Holding Inc, a maker of doors and windows, is working on a potential initial public offering that would value the business at as much as $4 billion, the Wall Street Journal reported. The Charlotte, North Carolina- based company is working with banks, including Barclays PLC and Credit Suisse Group AG, on the possible offering, which could raise around...

  • *Core capital goods orders rise 0.4 percent in May. WASHINGTON, June 23- A gauge of U.S. business investment spending plans rose in May, a tentative sign that the manufacturing sector was stabilizing after hitting a soft patch in recent months. The Commerce Department said non-defense capital goods orders excluding aircraft, a closely watched proxy for business...

  • *Core capital goods orders rise 0.4 percent in May. WASHINGTON, June 23- A gauge of U.S. business investment spending plans rose in May, a tentative sign that the manufacturing sector was stabilizing after going into a slump late last summer. The Commerce Department said non-defense capital goods orders excluding aircraft, a closely watched proxy for business...

  • *New York state factory activity gauge falls in June. WASHINGTON, June 15- U.S. industrial production unexpectedly fell in May as manufacturing and mining activity remained weak, a sign that a strong dollar and spending cuts in the energy sector continued to constrain economic growth. The challenges of the stronger dollar and drop in energy prices linger, "said...

  • WASHINGTON, June 8- A Republican businessman said on Monday he is pouring millions of dollars into a foundation that sees opportunities where the majority of his fellow party members do not: easing climate change and speeding the country's transition to clean energy. Jay Faison of Charlotte, North Carolina, has given $165 million to Clearpath, his foundation...

  • June 8- When Christel Shea was trying to book a trip from Providence, Rhode Island to Greenville, South Carolina a couple of weeks ago, it took more than one online search for her to identify that the best buy was to fly into Charlotte, North Carolina and rent a car for the hour-long drive. Shea, managing director of the group tour research site TourMatters.com, used a...

  • WASHINGTON, June 1- U.S. consumer spending growth unexpectedly stalled in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter. The Commerce Department said April's unchanged reading in consumer spending growth compared with analysts'...

  • WASHINGTON, June 1- U.S. consumer spending unexpectedly stalled in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter. We need to see more of a rebound in growth before the Fed pulls the trigger on interest rates, "said Diane Swonk, chief...

  • May 8- Shares of Bojangles Inc rose as much as 47 percent in their debut, valuing the chicken-and-biscuits restaurant chain at nearly $1 billion, as investor appetite for "fast-casual" dining chains continues unabated. Bojangles, which operates in the fastest-growing but crowded restaurant segment, serves southern U.S.-inspired food, including buttermilk...

  • May 8- Shares of Bojangles Inc rose as much as 47 percent in their debut, valuing the chicken-and-biscuits restaurant chain at nearly $1 billion as investor appetite for "fast-casual" dining chains continues unabated. Bojangles' rousing debut follows the January listing of cult hamburger chain Shake Shack Inc, whose shares have risen about 44 percent since the...

  • May 7- Chicken-and-biscuits restaurant chain Bojangles' Inc said its initial public offering of common shares was priced at $19, valuing the company at about $680 million.. The fast-casual restaurant chain's IPO raised about $147 million, with the majority of the proceeds going to its controlling shareholder, private equity firm Advent International Corp..

  • WASHINGTON, May 7- The number of Americans filing new claims for unemployment benefits held near a 15- year low last week in a sign that the labor market was strengthening despite moderate economic growth. Initial claims for state unemployment benefits rose 3,000 to a seasonally adjusted 265,000 for the week ended May 2, the Labor Department said on Thursday.