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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Dec 22, 2004
Page
9
Market snapshot from December 21, 2004 shows Russell 2000 at 646.20 with 8.15 gain mood, NYSE and Nasdaq diaries report advances and declines, volumes near 1.9 billion shares, new highs and lows noted, overall market activity reflected in advance/decline totals and unchanged counts.
Dayton-DPL Inc parent of Dayton Power and Light appointed John J. Gillen as vice president and chief financial officer. Gillen, 51, led PwC’s consumer and industrial products group in Philadelphia and previously worked three years in FERC accounting. Dayton Power and Light serves about 500,000 customers in western Ohio. DPL 2003 sales were $1.19 billion.
Cablevision Systems Corp based in Long Island said it will pause plans to spin off its VOOM high-definition satellite venture. The unit, marketed as VOOM, has struggled since launch and will be reassessed with alternative options considered. The spinoff would have grouped VOOM with stable businesses including AMC, IFC, WE TV, and Clearview Cinemas.
Indianapolis A federal judge on Tuesday approved Southwest Airlines 117 million deal with ATA Airlines. The bankruptcy court action provides ATA with capital to reinvent itself as it emerges from bankruptcy protection and strengthens Southwest’s dominance at Chicago Midway International Airport as the largest carrier.
McGee's IGA on Manchester Road and Vannest Avenue will close for remodeling of the supermarket area with fuel center and service desk remaining open. The project cuts space from 42,000 to about 14,000 square feet, aiming for a tighter layout and lower costs. Owners plan about 250,000 in investments and hope to reopen by April 1, with possible banquet hall behind the store.
The FAA will hire 12 500 air traffic controllers and allow current staff to work past retirement age to offset looming retirements. The plan speeds training, trims staffing at low traffic airports, and aims to boost total controllers to about 16 200. Budget uncertainty and potential airline taxes loom over funding.
General Mills reports 13 weeks ended Nov 28 earnings of 97 cents a share on 3.17 billion in sales, up from 81 cents and 3.06 billion a year ago. The gain beats Thomson Financial estimates though full year outlook remains $2.75 to $2.80 per share with planned whole grain Big G cereals and higher priced products.
Elyria based Invacare Corp says fourth quarter and 2005 earnings will be lower due to Medicare reimbursement policy changes for powered wheelchairs. Shares fell 4.03 dollars to 47.41 on the NYSE as the firm trimmed guidance to 60 to 65 cents per share. The company noted a 40 to 50 percent drop in the power wheelchair market after the legislation shift. It also cut prices to spur sales, which reduced profit margins.
The report notes that local stocks and 150 most active stocks were not available. No figures or names are provided.
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