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Top News & Analysis Massachusetts

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  • SPRINGFIELD, Mass. _ Smith& Wesson Holding Corp. on Thursday reported fiscal first-quarter net income of $14.4 million. Three analysts surveyed by Zacks expected $143.9 million. For the current quarter ending in November, Smith& Wesson expects its per-share earnings to range from 19 cents to 21 cents.

  • LAS VEGAS— Las Vegas plans to double the number of international gates at McCarran International Airport with the expectation that foreign travel to the destination will climb as officials seek out prized direct flights, particularly with Asia. McCarran International Airport director Rosemary Vassiliadis said Thursday that construction to convert...

  • Aug 27- U.S. stocks extended their rally on Thursday, raising hopes that the worst of Wall Street's recent turmoil was behind it, after further evidence that the economy was on a solid footing. The market snapped a 6- day losing streak on Wednesday after New York Fed President William Dudley said the case for a September hike was "less compelling" after recent market...

  • CANTON, Mass. _ Destination XL Group Inc. on Thursday reported a loss of $979,000 in its fiscal second quarter. The Canton, Massachusetts- based company said it had a loss of 2 cents per share. Destination XL expects full-year results to range from a loss of 14 cents per share to a loss of 12 cents per share, with revenue in the range of $438 million to $443 million.

  • WASHINGTON— Famous people don't often get involved with Medicare payment policy, but a Boston Marathon bombing survivor and a former U.S. senator who lost a leg in wartime service have joined an industry campaign to block new requirements for artificial legs and feet. A Medicare spokesman refused to answer questions about the proposed changes, issuing a...

  • BOSTON, Aug 26- William Ackman's hedge fund Pershing Square Capital Management is down for the year so far after the recent market decline, the billionaire investor told investors on Wednesday. Lower commodity prices or economic weakness in China are unlikely to have a "material impact on the intrinsic value of the portfolio," Ackman continued.

  • BNY Mellon said an accounting system it relies on to calculate the prices of clients' mutual funds and exchange traded funds broke down over the weekend just as investors headed into a global market meltdown sparked by fears over the Chinese economy. The system, run by financial software provider SunGard, resumed with limited capacity on Tuesday but was still...

  • UPDATE 1-BNY Mellon says fund pricing system collapsed Wednesday, 26 Aug 2015 | 2:54 PM ET

    BNY Mellon blamed the pricing glitch on a system used by financial software provider SunGard. BNY Mellon spokesman Kevin Heine said he did not know how many funds had been affected. BNY Mellon was able to construct Monday net asset values for all affected funds.

  • BNY Mellon experiences problems with NAV calculations Wednesday, 26 Aug 2015 | 2:09 PM ET

    BNY Mellon was not available for comment. First Trust, which manages several exchange-traded funds, said on Wednesday in a statement that the net asset value of some of its funds contained errors greater than 1 percent. "The errors resulted from a technical malfunction at our third party administrator, the Bank of New York Mellon," First Trust said.

  • Airfare deals pop up as airlines wage limited fare wars Wednesday, 26 Aug 2015 | 12:46 PM ET

    Don't expect widespread sales or cheap flights home for Thanksgiving. Fliers have been able to fly Chicago to Boston for $80 roundtrip, San Francisco to Las Vegas for $67 roundtrip and New York to Los Angeles, with a connection, for $150 roundtrip. "This is the big break consumers have been waiting for in response to lower fuel prices," says Seth Kaplan, managing...

  • NEW YORK, Aug 26- Most U.S. Treasuries prices rose on Wednesday after a top Federal Reserve official scaled back his view of a rate increase in September in the wake of market turbulence stemming from worries about China's economy. The Fed is no hurry to raise rates even though it wants to get off to zero-bound rates, "said Brian Brennan, portfolio manager at T. Rowe...

  • Growing US economy causing traffic woes Wednesday, 26 Aug 2015 | 12:01 PM ET

    Los Angeles, San Francisco and New York come next on the list of urban areas with the longest delays. Overall, American motorists are stuck in traffic about 5 percent more than they were in 2007, the pre-recession peak, says the report from the Texas A&M Transportation Institute and INRIX Inc., which analyzes traffic data. Rounding out the Top 10 worst commuting...

  • WASHINGTON— Many Americans have just absorbed a financial beating— at least as measured by their stock holdings. It's the kind of blow that can feed a sense of helplessness about retirement, college savings and higher-than-expected bills. But take a look at other gauges of Americans' financial health, and a more nuanced picture emerges:.

  • *Wall Street falls in late selloff. *Relief from China cut in rates, reserve requirements temporary. NEW YORK, Aug 25- U.S. stocks ended down on Tuesday after sharply reversing early gains late in the session as investors were unconvinced China's move to cut to interest rates and banks' reserve requirements could ease global growth concerns.

  • WASHINGTON— Many Americans have just absorbed a financial beating— at least as measured by their stock holdings. It's the kind of blow that can feed a sense of helplessness about retirement, college savings and higher-than-expected bills. But take a look at other gauges of Americans' financial health, and a more nuanced picture emerges:.

  • NEW YORK— Don't do anything rash. Amid the scary slide on Wall Street, that's the advice from the professionals to 401 holders and other ordinary investors. "If you lived through the 2008, early-2009 debacle, which was horrible, you know that it can recover in a relatively short period of time," said John Power, a financial planner at Power Plans in Walpole,...

  • *New home sales increase 5.4 percent in July. WASHINGTON, Aug 25- U.S. consumer confidence hit a seven-month high in August and new single-family home sales rebounded in July, suggesting underlying strength in the economy that could still allow the Federal Reserve to raise interest rates this year. They are so close, they need just a little more confirmation, "said...

  • NEW YORK— About 55,000 LED tube lights are being recalled because they can overheat, melt and possibly burn someone. The U.S. Consumer Product Safety Commission said Tuesday that Osram Sylvania, the maker of the light, received 34 reports from customers that the lights had overheated or melted down. They were sold between December 2014 and May 2015.

  • Massachusetts single-family home sales soar in July Tuesday, 25 Aug 2015 | 11:10 AM ET

    BOSTON— More single-family homes were sold in Massachusetts last month than in any month in more than a decade, The Warren Group reported Tuesday. "July's numbers are the result of a very strong spring season and are an improvement over the sluggish start to the year," said Cassidy Murphy, editorial director of The Warren Group. Both groups reported an increase of...

  • *U.S. to hold $26 billion two-year note auction. "If the stock market does stabilize here, it's going to be a close call for a September rate hike," said Richard Schlanger, portfolio manager at Pioneer Investments USA in Boston. While they considered the likelihood of a Fed rate increase given the risk from a slowing Chinese economy, investors made room in their...