Category Archives: Wall Street

REVENUE & PROFIT UP AT URBAN OUTFITTERS

Urban Outfitters, the owner of national clothing chains with a presence in downtown Red Bank and Shrewsbury, reported strong revenue gains in its fourth fiscal quarter, even as stores that had been open more than a year struggled to match last year’s performance. The Philadelphia-based company’s Urban Outfitters brand, which includes a store at Broad [...]

SEA BRIGHT RISING, ONE GIFT CARD AT A TIME

Ilene Winters and Chris Wood reviewing requests for help from Sea Bright Rising in Wood’s office Thursday. Below, a mudline shows the height of the water that inundated homes and businesses in town during Hurricane Sandy. (Photo by Wil Fulton. Click to enlarge) By WIL FULTON Nearly 70 days after Hurricane Sandy washed the Atlantic [...]

RUMSON: HALL OPENS AS COMFORT STATION

Rumson’s Bingham Hall has been transformed into a comfort station, offering residents a warm, lighted place to stay during the day until electricity is restored. The borough Office of Emergency Management is also collecting donations of food, clothing, toiletries and boxes for storm victims; arranging transportation and shelter; and providing information about FEMA filings. The [...]

RED BANK: BROKERS TO THE ‘BRIDGE’

The ‘bridge‘ is in. Following a six-month construction sprint, securities broker Morgan Stanley Smith Barney completed the consolidation of its Red Bank offices into a single location at Broad Street and Linden Place this week, said Jay Herman, a principal in Downtown Investors, which owns the property. The expanded space includes a suspended structure linking [...]

RED BANK: MOODY’S LIFTS NEGATIVE OUTLOOK

By JOHN T. WARD Nearly a year after Moody’s went negative on Red Bank, the Wall Street debt rater has reversed course, borough officials said. The credit research firm told town officials by email Friday morning that it has affirmed the town’s debt Aa3 rating and removed the “negative outlook” imposed last November over concerns [...]

HOV POSTS SECOND CONSECUTIVE PROFIT

Hovnanian’s headquarters, on Maple Avenue in Red Bank. (File photo. Click to enlarge) After going one-for-22, Red Bank-based national homebuilder Hovnanian Enterprises racked up a second consecutive net gain in its most recent fiscal quarter, the company announced Thursday. In posting a profit of $34.7 million in the quarter ended July 31, compared with a prior-year [...]

HOV STUNNER: A PROFIT

Hovnanian’s Red Bank HQ, as seen from the foot of Maple Avenue. Hovnanian Enterprises surprised Wall Street with news Wednesday that it’s most recent fiscal quarter was a profitable one. Bloomberg reports that the Red Bank-based homebuilder’s net profit of $1.8 million, on a 52-percent surge in sales, was “unexpected.”

HALL CLAIMS WIN IN LOCAL BANK STAKES

The Fair Haven office is one of just five for the locally focused bank. (Click to enlarge) By MIKE BARON The shareholders of Rumson-Fair Haven Bank & Trust have spoken, and they apparently aren’t all that worried that hedge fund honcho George Hall is going to turn the their well-heeled area into a Pottersville. Hall [...]

HOV BOOSTS REVENUE, SHRINKS LOSS

By JOHN T. WARD Red Bank-based homebuilder Hovnanian Enterprises notched a 6.7-percent sales gain in the first fiscal quarter from a year ago, the company reported Tuesday morning. The closely-held publicly traded company continued to lose money in the quarter, but narrowed the loss to $18.3 million, down from $64.14 million a year ago, it [...]

RUMSON: TALK ABOUT DOWNSIZING

From this… to that? Having moved out of the 18,000-square-foot colossus above, Pete and Judy Dawkins recently purchased the home shown below. (Click to enlarge) By JOHN T. WARD Eight months after selling one of Rumson’s most jaw-dropping homes for $12 million, Heisman Trophy winner and financier Pete Dawkins has picked up a relatively modest house [...]

‘FLOATING’ DOWNTOWN OFFICE WAFTS TO OK

The addition will connect two existing buildings while permitting vehicles to pass underneath. (Click to enlarge) By JOHN T. WARD Framed by talk about its positive effects on lunchtime restaurant business, a plan for an office bridge between two downtown buildings won easy approval from the Red Bank zoning board Thursday night. With no objectors [...]

HOVNANIAN ENDURES ANOTHER LOSS

Hovnanian’s national headquarters in Red Bank. (Click to enlarge) The red ink continued to flow at Red Bank homebuilder Hovnanian Enterprises in the recently ended fiscal fourth quarter, though the size of the loss was smaller than that in the year-prior period. Hovnanian reported an after-tax net loss of $98.3 million, or 90 cents per [...]

IN THE WORKS: LINDEN PLACE OFFICE BRIDGE

The two Linden Place buildings above would be connected at the second floor, as seen in the rendering, below. (Click to enlarge) By JOHN T. WARD One of the Wall Street brokerages that help stock Red Bank’s downtown office population is looking skyward as it plans an expansion. Morgan Stanley, which occupies nearly all of [...]

RED BANK BONDS SHRUG OFF MOODY’S MOOD

Wall Street debt-rating agency Moody’s may take a negative view of Red Bank’s fiscal situation, but investors don’t, town officials said Tuesday night. Councilman Mike DuPont, who heads the borough’s finance committee, said investors had snapped up $5.4 million worth of bonds offered in a recent refinancing. The followed Moody’s report at the end of [...]

URBAN OUTFITTERS: SALES UP, PROFITS DOWN

Urban Outfitters, one of the few national retail chains with a presence in downtown Red Bank, reported Monday that its sales rose in its third fiscal quarter. Net income for the Philadelphia-based clothing retailer was down sharply, however.


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    • 05.25 - AAUW Used Booksale Thousands of best sellers, children's books, paperbacks, DVDs and more at bargain basement prices — as the American Association of University Women used book sale continues every Saturday (except holidays) in the spacious basement of the Old First Church in Middletown.
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