Noticias y eventos de Watsco Inc (WSO)WSOWatsco Inc

U.S. Stock Futures Rise as Investors Await Fed Rate Decision

Stock futures are higher as investors brace for the Federal Reserve's interest-rate decision and a busy slate of corporate earnings. Oil prices remain elevated despite easing for a second session, with geopolitical tensions in the Middle East continuing to threaten energy supplies.The Federal Reserve begins its two-day policy meeting with an interest-rate decision due Wednesday. Markets broadly expect policymakers to hold rates steady, although persistent inflation and elevated energy prices have raised expectations for additional tightening next year. Investors will focus on Fed Chair Kevin Warsh's comments for clues about the policy outlook as the central bank balances inflation risks against economic growth.Earnings take center stage, with Coca-Cola, Boeing, UPS and PayPal among the major companies that reported before the opening bell. Visa, Robinhood and other companies are scheduled to report after the close. Investors are particularly focused on Alphabet, Microsoft and Amazon, which report later this week, looking for evidence that substantial AI investments are translating into revenue growth and profitability.In pre-market trading, S&P 500 futures rose 0.38%, Nasdaq futures rose 0.53% and Dow futures rose 0.25%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -MidCap Financialup 23% after entering into a definitive merger agreement under which Ares Capital will acquire MFIC in a stock-and-cash transaction for a total enterprise value of approximately $2.6BUP AFTER EARNINGS -JetBlueup 14%Celesticaup 11%Royal Caribbeandown 5%Johnson Controlsup 4%Corningup 1%Freeport-McMoRanup 1%Cadence Designup 1%DOWN AFTER EARNINGS -Watscodown 10%Whirlpooldown 7%HSBCdown 6%Boeingdown 2%Coca-Coladown 1%PayPaldown 1%UPSdown 1%

Watsco Reports Q3 Revenue of $2.22B, Exceeding Expectations

Reports Q3 revenue $2.22B, consensus $2.21B. Reports Q3 SSS up 4%. Albert H. Nahmad, Chairman and CEO said: "Third quarter results and early fourth quarter sales trends are indicative of continued improvement in end-market demand. We are encouraged to see residential unit volumes return to growth and steadily improve throughout the season. Our technology-enabled customers also continue to outperform the broader contractor community. Looking ahead, Watsco today is a meaningfully larger company, having added 107 locations and $730 million in annualized revenue to our network through the acquisitions of Jackson and Granite. Our long-range objectives for sales, margin and cash flow generation remain fully intact."

Watsco to Acquire The Granite Group for Approximately $500 Million

Watsco announced that it has entered into an agreement to acquire The Granite Group, a diversified distributor of plumbing and HVAC products with approximately $500M in sales throughout seven Northeast States. Founded in 1971 and headquartered in Concord, New Hampshire, The Granite Group is a third-generation, family-led distributor serving customers across seven states in New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode Island and New York. The Granite Group serves approximately 11,000 customers from 82 locations and offers approximately 29,000 SKUs sourced from over 450 vendors. The Granite Group has achieved a 10% annual compounded growth rate in sales since 2010 through a combination of bolt-on acquisitions and more than 30 new store openings to win new customers and better serve existing customers. The transaction is expected to close following completion of customary closing conditions and regulatory approvals.