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Toll Brothers profit jumps in second quarter, beating views

House-builder Toll Brothers Inc. on Tuesday said profit for the fiscal second quarter rose to $89.1 million, or 51 cents a share, from $67.9 million, or 37 cents a share, in the year-ago period. Revenue climbed to $1.12 billion, up 31% from $852.6 million last year. Analysts surveyed by FactSet expected earnings of 46 cents a share on revenue of $1.04 billion. The luxury-homes builder said it expects to deliver between 5,800 and 6,300 homes in the full-year 2016. That means revenue should come in between $4.76 billion and $5.36 billion for the full year. Shares didn’t move in premarket trade.

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Dow, Dupont announce top executives

DuPont and The Dow Chemical Co. late Monday announced a slew of executive appointments for the newly minted DowDuPont Inc. following the companies’ merger announcement in late December. Howard Ungerleider will become DowDuPont’s chief financial officer; Stacy Fox will become general counsel; and Jim Fitterling will become the new company’s chief operating officer, among other appointments. The companies had previously disclosed that Andrew Liveris is to become executive chairman of DowDuPont and Edward Breen chief executive officer. Dow and DuPont’s ‘merger of equals’ is expected to close in the second half of the year after regulatory approval and the clearing of other hurdles. Shares of DuPont were flat in late trading Monday after ending the regular trading session up 1.9%; shares of Dow were down 0.2% after being 1.8% higher at the close.

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Virginia Gov. McAuliffe subject of FBI probe, report says

Virginia Gov. Terry McAuliffe is under investigation by the FBI and prosecutors of the Justice Department’s public integrity unit, according to a report from CNN. The investigation into the Democrat dates back at least to last year and involves whether donations to his gubernatorial campaign broke the law. McAuliffe is a friend and political ally of Democratic front-runner Hillary Clinton, and Virginia is a critical swing state in the presidential election.

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