Same-store sales rose 7.3 percent last month, beating the expectations of both Wall Street analysts and the company itself.
Banking + Finance
Magnet 360-which now bills itself as a "social enterprise agency"-says it will offer a comprehensive set of "social business" services to large business clients, including General Mills, Ecolab, Medtronic, and 3M.
Xollai has developed guidance technology for unmanned aircraft and will become part of ReconRobotics' product engineering and design operations.
Re/Max Results, which opened its first St. Cloud office last year, is strengthening its presence there through the purchase of Re/Max Realty Source.
The company, which was struggling with plummeting sales and legal issues several years ago, was turned around under the direction of CEO Marti Morfitt, who said that the Airborne brand will be retained, but its employees will not.
Personal income in the state totaled about $238.8 billion in 2011, compared to an estimated $227.3 billion the previous year.
Tyco International shareholders will own 52.5 percent of the merged entity, and Pentair shareholders will own 47.5 percent; Wall Street responded favorably to the news, sending shares for both companies to a 52-week high on Wednesday.
Regulators, which sought to block Graco's proposed acquisition over antitrust concerns, have now paved the way to discussions of a settlement.
The state's angel investment tax credit program spurred the creation of more than 100 jobs last year, as investors collected about $15.8 million in credits.
The new division, called TCF Capital Funding, will focus on lending to companies with fewer than $100 million in annual sales and between $2 million and $10 million in earnings.
The Federal Reserve said that the eight banks face fines for unsafe and unsound foreclosure practices; U.S. Bank said that the fines are not significant and it has been revising its foreclosure processes to satisfy regulators' requirements.
Minnesota companies sent $702 million worth of products to South Korea last year, and the state now stands to benefit from a free trade agreement that will eliminate most tariffs on goods exported there.
UnitedHealth Group's international division has expanded health insurance coverage to employers that have workers in the Middle East.
The two were among 15 banks that the Federal Reserve projects will have adequate capital should a financial crisis occur.
The St. Louis Park-based restaurant chain, which recently acquired several Cadillac Ranch restaurants, plans to open a new Granite City location in Tennessee.
A Canadian agribusiness company recently revealed that it has received "expressions of interest," prompting speculation of a possible takeover; The Wall Street Journal reports that Cargill is among those interested in the deal.
Mocon has signed an agreement to purchase a Denmark-based company that makes equipment for packaging; the deal will boost Mocon's annual revenue to $56.7 million.
The bank-holding company said the move reflects its shift away from longer-term loans and investments, including residential loans, commercial loans, and mortgage-backed securities, and toward shorter-duration variable-rate loans, such as auto loans and equipment financing.