The nonprofit National Butterfly Center has asked a federal judge to stop border wall activity on its property as the Trump administration gears up to build new barriers in South Texas and may soon win funding for more.
In a motion filed late Monday, center director Marianna Trevino Wright says heavy machinery has been driving through their property for a week, including a road grader accompanied by a U.S. Customs and Border Protection vehicle.
The government says it will start this month on the first of 33 miles (53 kilometers) of new walls and fencing. Congress funded construction last year.
Congressional negotiators trying to avoid a second government shutdown reached an agreement Monday to fund an additional 55 miles (88 kilometers) of barriers in the Rio Grande Valley.
MARKETS IN BRIEF
US Expects Record Domestic Oil Production in 2019, 2020
The U.S. says domestic oil production levels will reach new heights this year and next, and that prices will be lower than they were in 2018.
The U.S. Energy Information Administration said Tuesday that it expects the United States to pump 12.4 million barrels of crude a day in 2019 and 13.2 million barrels a day in 2020. The January average was 12 million barrels a day, up 90,000 from December.
Most of the increase is expected to come from Texas and New Mexico.
The energy agency expects U.S. benchmark crude to cost less than $55 a barrel this year and $58 next year, down from $65 in 2018. It expects internationally traded oil to be $61 this year and $62 next year, down from $71 in 2018.
US Job Openings Jump to Record High of 7.3 Million
U.S. employers posted the most open jobs in December in the nearly two decades that records have been kept, evidence that the job market is strong despite several challenges facing the economy.
The Labor Department says job openings jumped 2.4 percent in December to 7.3 million. That is the most since records began in December 2000. It is also far greater than the number of unemployed, which stood at 6.3 million that month.
Businesses have shrugged off a variety of potential troubles for the economy and kept on hiring. The 35-day partial government shutdown began Dec. 22, and growth in China, Europe and Japan has weakened, threatening U.S. exports. Still, employers added 304,000 jobs in December, the government said earlier this month, the most in nearly a year.
Germany, US Seek to Set Aside Spat Over Natural Gas Supplies
Germany’s economy minister says he’s confident the country will soon have two terminals capable of receiving imports of U.S. liquefied natural gas, something Washington has been pressing for in its bid to increase exports to Europe.
Peter Altmaier told a meeting of German and American officials Tuesday that Berlin is prepared to provide “substantial” subsidies to the consortia building the terminals, but declined to name a figure.
U.S. Deputy Secretary of Energy Dan Brouillette said the United States was “encouraged” by an agreement between Germany and France last week that will see EU regulations applied to gas pipelines such as the Russian-German Nord Stream 2.
Washington has strongly objected to the project, fearing it will give Russia greater political leverage in Europe and bypass U.S. allies in Eastern Europe.
Under Armour: 4Q Earnings Snapshot
Under Armour Inc. (UAA) on Tuesday reported fourth-quarter net income of $4.2 million, after reporting a loss in the same period a year earlier.
The Baltimore-based company said it had net income of 1 cent per share. Earnings, adjusted for restructuring costs and pretax expenses, came to 9 cents per share.
The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The sports apparel company posted revenue of $1.39 billion in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $1.38 billion.
For the year, the company reported that its loss narrowed to $46.3 million, or 10 cents per share. Revenue was reported as $5.19 billion.
Under Armour expects full-year earnings to be 31 cents to 33 cents per share.
Under Armour shares have risen 18 percent since the beginning of the year. The stock has risen 51 percent in the last 12 months.
Molson Coors: 4Q Earnings Snapshot
Molson Coors Brewing Co. (TAP) on Tuesday reported fourth-quarter net income of $76 million.
The Denver-based company said it had net income of 35 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 84 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The beer maker posted revenue of $3.02 billion in the period. Its adjusted revenue was $2.42 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.51 billion.
For the year, the company reported profit of $1.12 billion, or $5.15 per share. Revenue was reported as $10.77 billion.
Molson Coors shares have risen 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 8 percent. The stock has declined 12 percent in the last 12 months.
Griffin: Fiscal 4Q Earnings Snapshot
Griffin Land & Nurseries Inc. (GRIF) on Tuesday reported a loss of $139,000 in its fiscal fourth quarter.
The New York-based company said it had a loss of 3 cents per share.
The real estate and landscape company posted revenue of $8.4 million in the period.
For the year, the company reported a loss of $1.7 million, or 33 cents per share, swinging to a loss in the period. Revenue was reported as $33.8 million.
Griffin shares have increased slightly more than 6 percent since the beginning of the year. The stock has declined 8 percent in the last 12 months.
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