The first 100 customers in the Macy’s stores at Alderwood and Everett malls today will receive a free tree sapling in celebration of Earth Day. Over the weekend, Macy’s introduced a new line of eco-friendly merchandise. The local Macy’s stores open their doors at 10 a.m.
City Bank holds annual meeting
Lynnwood-based City Bank holds its annual shareholder meeting at 3 p.m. Wednesday at the Lynnwood Convention Center, 3711 196th St. SW. Bank officials will review the company’s operating results and financial condition for the past fiscal year, and they will announce the bank’s results for the first quarter of this year.
Economy named top issue in poll
The economy has soared past Iraq as the top problem on the minds of voters, according to an Associated Press-Yahoo News poll released Monday. With growing layoffs, tight credit and an ailing housing market, 67 percent say the economy is an extremely important issue. Gasoline prices followed the general economy close behind at 59 percent.
Netflix stock drops 13 percent
Netflix Inc.’s first-quarter profit climbed 36 percent amid accelerating subscriber growth, but the online DVD leader spooked investors by warning its recent momentum will taper off dramatically during the next few months. The tepid outlook provided Monday caused Netflix shares to plunge nearly 13 percent in after-hours trading. Netflix said it earned $13.4 million, or 21 cents per share, during the first three months of the year. That compared with net income of $9.9 million, or 14 cents per share, at the same time in 2007. Revenue rose 7 percent to $326.2 million from $305.3 million.
Leasing group orders 17 737s
Aviation Capital Group has ordered 17 Boeing 737s, the aircraft leasing company’s eighth purchase commitment for Boeing planes in two years. The deal announced Monday is valued at more than $1 billion at current list prices, although customers typically negotiate big discounts on large orders. The order by Aviation Capital, a Pacific LifeCorp subsidiary based in Newport Beach, Calif., was previously attributed to an unidentified customer on Boeing’s Web site. Scott Hamilton, a Boeing spokesman, said the order is for Boeing 737-800s with options to convert to 737-700s or 737-900s.
T-bills rates rise in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 1.32 percent Monday, up from 1.06 percent last week. Six-month bills were auctioned at a discount rate of 1.68 percent, up from 1.38 percent. The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,966.63 while a six-month bill sold for $9,915.07. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, rose to 1.67 percent last week from 1.63 percent the previous week.
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