Homebuilding slowed for the third straight
Bend-based Humm Kombucha has received its first institutional investment of $10 million from San Francisco-based VMG Partners. The company employs approximately 50 workers and will use the funds for expansion. Humm makes fermented tea in a 40,000 sq ft production facility. Their product is available in all 50 States. Costco in the Northwest and the Southeast carry the brand. (PBJ)
Homebuilding slowed for the third straight month in May, with housing starts falling by 5.5%. Home construction is still 3.2% higher year-to-date. (AP)
Consumers are less optimistic than expected in June. The University of Michigan’s Consumer Sentiment Index dropped to 94.5 in June (Reuters).
A executive order on drug pricing could come out his week.The order may trigger volatility in drug stocks. Healthcare has somewhat quietly-produced the second best sector return year to date (+13.6%). (LPL Research)
Moda Health Plans has sold its Old Mill office building for $25.5 million or $289 per square foot. Moda completed the 88,229 square-foot building in 2008, and 105 employs there. (Bulletin)
The S&P 500 is up 9 and the NASDAQ is up 42. The MSCI international index is higher.
Oil is up 15 cents at $44.88 a barrel.
Gold is down $5 at $1252 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.