New York City to consider ban on paper receipts

Charting a bull-bear stalemate: S&P 500, Nasdaq maintain major support

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U.S. stocks are mixed early Thursday, treading water in the wake of a wide-ranging December market whipsaw.

Amid the cross currents, the major benchmarks have diverged slightly — the prevailing backdrop is not one-size-fits-all — though the bigger-picture market technicals remain comfortably bullish, on balance.

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Hovnanian Enterprises Revenue Rises 16%, Stock Up

Shares of Hovnanian Enterprises Inc. (HOV), are on the run, after the homebuilder reported a 16% revenue growth and a 16.7% increase in consolidated deliveries for the fourth quarter of fiscal 2019. However, the Company incurred a loss in the fiscal fourth quarter compared to a profit in the year-ago quarter.

Net loss for the fiscal fourth quarter ended October 31, 2019, was $1.8 million or $0.30 per share compared with net income of $46.2 million or $7.75 per common share, during the same quarter a year ago.

Total revenues increased 16.1% to $713.6 million in the fourth quarter of fiscal 2019, compared with $614.8 million in the fourth quarter of fiscal 2018.

Consolidated deliveries were 1,709 homes for the fourth quarter of fiscal 2019, a 16.7% increase compared with 1,465 homes during the same quarter a year ago.

At the end of the fourth quarter of fiscal 2019, total liquidity was $275.9 million, which is above the $245 million upper end of the Company’s target range.

The Company noted that it has successfully exchanged or refinanced over $800 million of debt. All maturities have been eliminated until 2022 and over 50% of the debt maturing in 2022 and 2024 has been pushed out.

In Thursday’s trading, HOV is currently up 14.03% at $24.46.

U.S. Factory Orders Rise In Line With Estimates In October

New orders for U.S. manufactured goods increased in line with economist estimates in the month of October, according to a report released by the Commerce Department on Thursday.

The Commerce Department said factory orders rose by 0.3 percent in October after falling by a revised 0.8 percent in September.

Economists had expected orders to rise by 0.3 percent compared to the 0.6 percent drop originally reported for the previous month.

Orders for durable goods climbed by 0.5 percent compared to the previously reported 0.6 percent increase, while orders for non-durable goods came in unchanged.

The report said shipments of manufactured goods were virtually unchanged in October after falling by 0.4 percent in September. Inventories crept up by 0.1 percent after rising by 0.3 percent in the previous month.

Subsequently, the Commerce Department said the inventories-to-shipments ratio in October was unchanged from the previous month at 1.40.

General election: Binge-eating on the campaign trail and small talk with Jeremy Corbyn

Kate McCann is joined by Lewis Goodall, who’s heading back to his old school, and Jason Farrell, who’s spent the day chatting with the Labour leader.

:: Listen to Campaign Unwrapped on Apple Podcasts, Spotify, Google Podcasts, Spreaker

The campaign trail moves to Birmingham, and Mr Corbyn speaks to schoolchildren.

Campaign Unwrapped: Lib Dem battle buzz and answering difficult questions

Difficult questions require smart answers on the campaign trail and today’s podcast includes a discussion about handling those tricky interviewers.

:: Listen to Campaign Unwrapped on Apple Podcasts, Spotify, Google Podcasts, Spreaker

Kate McCann is joined by Laura Bundock who has had an eventful day on the Lib Dem battle bus and producer George Coote talks leggings, gifts for Jeremy Corbyn and naked protesters.

Surrey RCMP investigate reported gunfire in Whalley

There was a large police presence in Whalley Thursday morning, as police investigated what neighbours described as a shooting.

Surrey RCMP cordoned off the intersection of University Drive and 105A Avenue, just blocks from Surrey City Hall.

Officers could be seen scouring the area with a K9 unit.

Neighbours told Global News they heard shots in the area just before 6 a.m.

Police have since reopened the intersection, and have not commented on the investigation.

Brazil 2020 GDP growth seen around 2.3%, 2.4% – Treasury Secretary

BRASILIA, Dec 5 (Reuters) – Brazil’s economy is entering 2020 on a stronger footing than originally hoped for, Treasury Secretary Mansueto Almeida said on Thursday, adding that growth next year is expected to be about 2.3% to 2.4%.

Speaking at an event in Sao Paulo, Almeida said the government’s budget deficit will end this year around 60-80 billion reais, around half the government’s goal of 139 billion reais ($33 billion).

New York City to consider ban on paper receipts

NEW YORK (AP) — New York City lawmakers are considering a ban on paper receipts coated with the chemical BPA and a requirement that retailers offer emailed receipts instead of paper ones.

The City Council announced last week that it will hold hearings on a package of bills aimed at cracking down on paper receipts.

“Nobody needs foot-long receipts,” said Council Speaker Corey Johnson, a Democrat. “We will work with businesses and consumers to cut out paper receipt waste and protect the planet. Let’s not print receipts when they aren’t wanted, especially when we have technology to issue environmentally friendly alternatives.”

Most cash register receipts are coated with bisphenol A, known as BPA, or the related chemical BPS. Some studies have determined the chemicals could harm the female reproductive system at high levels.

The City Council will consider bills in the next few months to restrict the use of BPA-coated paper, to require stores to offer e-receipts, to require that receipts be printed on recyclable paper and to require businesses to recycle receipts.