U.S. stocks are rallying at the fastest pace in almost two years after Congress resolved the budget standoff and investors shifted their focus to Federal Reserve stimulus and forecasts for record corporate profits.
Telogis Inc., a developer of software to track commercial vehicles, raised $93 million from investors including Kleiner Perkins Caufield & Byers, as it prepares to hold an initial public offering as soon as 2014.
PulteGroup Inc. and Lennar Corp. are among eight builders buying the first 726 lots at the Great Park Neighborhoods, a residential community in Orange County, California, that has struggled to open since 2005.
Sean Cummings has developed 18 New Orleans projects, including condominiums, hotels and luxury lofts with floor-to-ceiling windows at a former rice-processing plant in a gentrifying neighborhood. Up next: a residential complex planned for a weed-choked lot currently home to an abandoned school bus.
Myriad Genetics Inc., a provider of tests for breast cancer risk, filed a lawsuit today to shut a competitor that set up shop last month after a mixed U.S. Supreme Court ruling on patents for genetic material.
Companies and a university are moving to offer cheaper and broader genetic testing for breast cancer risk to a growing group of women, following a U.S. Supreme Court ruling that ended Myriad Genetics Inc.’s monopoly over DNA that vastly raises odds for the disease.
Hedge fund manager Bruce Rose was among the first investors to coax institutional money into the mom and pop business of single-family home rentals, raising $450 million last year from Oaktree Capital Group LLC.