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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jul 23, 2002
Page
10
The Market in Review digest shows mixed trading on the New York Stock Exchange with varied results across major names. Notable figures include Genentech, General Electric, Wells Fargo, and Xerox among others, with several movers up or down on the session.
The list covers the 525 most active NYSE stocks, 400 Nasdaq National Market names, and 100 most active on American Stocks largest. It notes bolded stocks with 5 percent moves or more, names are alphabetized by full company names, and includes dividends, fund NAVs, daily changes, and stock footnotes for issues, preferreds, and fund shares.
Retailers brace for a three day back to school tax free period from Aug 2 to 4 as Governor Wise aims to boost state sales. Stores such as Kmart Bluefield and Wal Mart Princeton expect families to buy clothes, paper, pencils, backpacks and shoes in West Virginia rather than neighboring states. Local managers praise the plan as a boost to sales and convenience for customers.
Ashland Inc reported a 65 million third quarter profit down from a year ago as refining and marketing earnings sagged amid weak diesel demand and high crude prices. MAP's refining income fell to 66 million from 302 million a year earlier, while other segments supported gains. The company reiterated MAP should improve with market rebound and continued a stock buyback of about 290 thousand shares in the quarter.
MeadWestvaco will cut 2500 jobs by year end after reporting an $8 million second quarter loss. The Dayton based Mead merged with Stamford based Westvaco in a $3 billion deal, eliminating 2100 jobs so far.
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