Stanwood-based Twin City Foods is completing the sale of an Eastern Washington potato processing plant to ConAgra Foods. ConAgra spokeswoman Stephanie Childs said her company has an agreement to purchase the plant in a deal scheduled to close within the next month. Once that happens, the Prosser plant will become part of ConAgra’s Lamb Weston division, which operates nine other potato processing facilities in Washington, Oregon and Idaho.
Zumiez’s bosses sell blocks of stock
Two of Zumiez’s top executives have sold thousands of shares the past week. Richard Brooks, president and chief executive of the Everett-based sports clothing retailer, made more than $9 million when he sold 200,000 shares of his company’s stock at $46.05 to $47.65 apiece, according to a Securities and Exchange Commission filing. Ford Wright, Zumiez’s executive vice president of stores, exercised options to buy and then sell more than 11,000 shares at about $47 apiece. Shares of Zumiez closed Tuesday at an all-time high of $49.11. Tom Campion, Zumiez’s co-founder and chairman, also gifted 600,000 of his shares to two foundations last week.
Nasdaq may dump Bothell biotech
Eden Bioscience Corp. faces delisting from the Nasdaq stock market because its stock price has closed below $1 for a month. The biotechnology firm has until March to regain compliance. Eden, which sold off the rights to its plant growth-enhancing technology earlier this year, has received similar warnings for Nasdaq in recent years. Eden’s shares closed Tuesday at 80 cents.
OxyContin makers to reimburse states
The state’s Medicaid program will be reimbursed nearly $2.7 million as part of a settlement with Purdue Pharma and Purdue Frederick Co., drug makers who allegedly improperly marketed the pain medication OxyContin to doctors. Overall, Purdue agreed to pay $160 million to the federal government and 26 state programs to resolve liability for false claims made to Medicaid and other programs, according to Washington’s attorney general, Rob McKenna.
Boeing predicts more sales in China
China will need to buy 3,400 aircraft at a cost of $340 billion over the next two decades as its air travel market grows to rival that of North America in size, aircraft maker Boeing Co. predicted Tuesday. Boeing’s forecast was an increase over earlier projections by the U.S. company and its European rival, Airbus Industries, which put Chinese demand at 1,900 to 2,600 aircraft over two decades. China’s total fleet is expected to nearly quadruple to 4,460 aircraft by 2026, Boeing said.
Best Buy earnings beat forecasts
Best Buy, the nation’s largest consumer electronics retailer, reported second-quarter profits that rose 8.7 percent, well ahead of analyst expectations. It gave a bullish forecast for the full year, and its shares rose 6 percent. The gains were driven by Best Buy Co. Inc.’s Canadian operations and tighter controls on spending.
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