Advanced Aromatics expands Baytown facility
Advanced Aromatics will expand its Baytown naphthalene unit to raise capacity by 25 percent starting in Q3 2005. The project, the first since 1996, comes as North American naphthalene production drops from five to three firms. Peter Buenz, president, says the move boosts crude naphthalene margins and market share while improving plant reliability and infrastructure for growth opportunities.
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Lone Star Tech stock sinks after warned Q3 miss
Lone Star Technologies Inc shares slid 2.8 percent to 47.28 after the company warned its third quarter results would fall well short of Wall Street expectations. The move came as oilfield equipment makers reassess demand and costs. American Eagle canceled 558 flights this month citing higher fuel costs and rebooking plans to preserve connections amid the disruption.
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Best Buy pledges 8 million for Katrina hit schools
Best Buy announced an 8 million relief package for K-12 schools damaged or displaced by hurricanes. Texas Louisiana Alabama and Mississippi will receive 5 million in computer equipment networks and Geek Squad services with details to align to state timelines. The Teach program adds up to 3 million in gift cards for classrooms with displaced students.
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Stocks slide on inflation concerns
Stocks declined as import prices jumped signaling rising inflation while energy sector gains provided only a brief offset. Oil prices fell to 63 a barrel as major indices dipped and bond yields rose, with payroll data and trade deficit figures adding to investor caution.
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