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Reliance: Q1 Earnings Snapshot

PHOENIX (AP) — PHOENIX (AP) — Reliance, Inc. (RS) on Wednesday reported first-quarter net income of $264.9 million.

On a per-share basis, the Phoenix-based company said it had profit of $5.10. Earnings, adjusted for one-time gains and costs, came to $5.16 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.63 per share.

The metals service-center company posted revenue of $4.03 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $3.84 billion.

For the current quarter ending in June, Reliance expects its per-share earnings to range from $5.15 to $5.35.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RS at https://www.zacks.com/ap/RS

Man who allegedly “acted as a lookout” charged with murder in shooting death of Cambridge DPW worker

Click here for updates on this story    BOSTON, Massachusetts (WBZ) -- A man who allegedly "acted as a lookout" has been arrested in connection with the fatal shooting of a Cambridge DPW worker on the morning of July 4. Rayquon Brown, 29, of Canton, is charged with murder in the shooting death of 32-year-old Xavier Bautista.Investigators say witness interviews and video evidence reveal that Bautista left his home around 4 a.m. wearing his Cambridge DPW work attire when he "was confronted by multiple men wearing masks who shot and killed him."Around 5:24 a.m., people walking in the area called police after finding a man laying in a pool of blood in the area of Norfolk Street and Broadway Street. Bautista was found between a parked vehicle and the curb and pronounced dead at the scene. His cause of death was determined to be two gunshot wounds.Middlesex District Attorney Marian Ryan said Brown and the men drove away in a white Dodge Ram pickup truck."Investigators were subsequently able to identify the defendant and his vehicle as being present at the time of the shooting," the district attorney said. "During the shooting the defendant allegedly acted as a lookout and potential backup holding an object which appears consistent with a firearm, at one point holding it outstretched as if aiming it."There is no known connection between Brown and Bautista, and the motive is still under investigation, Ryan said.Brown is charged with murder, carrying a firearm without a license, being an armed career criminal, and conspiring to commit murder. He was arraigned on Monday and held without bail.City officials say there was ShotSpotter coverage in the area where Bautista was found, but the system was deactivated earlier this year. Two Cambridge police unions say if it had still been active, it may have made a difference in keeping Bautista alive.Cambridge police say they have increased patrols in the area. Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.
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