Market watch brief for Jan 4 2005
Market activity shows Russell AGO at 628.54 on NYSE with 820 new highs and 2 504 declines. 5 new lows and 137 unchanged at volume 2 201 751 338. Nasdaq diary reports 783 advances and 2 400 declines with 86 unchanged at volume 2 702 433 942.
MENTIONED IN THIS ARTICLE
NYSE
AK Steel makes $150 million pension fund contribution
AK Steel announced a voluntary $150 million contribution to its pension trust, cutting 2006 obligations by about half. The move, enabled by better finances, lowers annual pension expense by roughly $13 million and follows a prior 2002 voluntary payment of $31 million. The firm funds benefits for about 32,000 retirees and beneficiaries.
MENTIONED IN THIS ARTICLE
AK Steel
Alan McCoy
Feds plan to bump interest rates higher
Fed policy makers signaled further rate increases after the December 14 meeting, raising the federal funds rate by 0.25 percent the fifth hike of 2004. They deem current levels too low to curb inflation and support a stable economy, with analysts predicting another quarter-point rise at the next meeting.
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Washington
Federal Reserve
Fed
Federal
Big Three share slips to historic low in 2004
DETROIT The Big Three automakers GM Ford and Chrysler posted a record low 58.7 percent U.S. market share in 2004 as Japanese brands Toyota Nissan and Honda lifted their combined share to 34.6 percent. Total U.S. auto sales rose about 1 percent to roughly 17 million in 2004 helped by a strong December.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Ford
Chrysler
Autodata Corp
Toyota
Nissan
Honda
U.S. Airlines Report Record Safety Amid Travel Rise
A three year span saw only 34 fatalities in U.S. scheduled airline crashes, amid rising passenger totals of about 685 million in 2004. NTSB Chair Ellen Engleman Conners notes safer transport, with new terrain warning tech required for jets and larger planes to be retrofitted by 2005. The Missouri crash near Kirksville in October killed 13 aboard Corporate Airlines turboprop.
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Washington
U.S
Kirksville
Missouri
National Transportation Safety Board
Ellen Engleman Conners
American Airlines
New York City
Air Transport Association
Marion Blakey
Federal Aviation Administration
Tenerife
Canary Islands
Digital explosion drives 2005 electronics show push
At the Las Vegas CES 2005, 2400 exhibitors promote digital music, photos and TV with SBC, Microsoft, Intel and HP leaders on stage. Samsung seeks 102 inch plasma crown as TiVoToGo, Orb Networks streaming, SlingBox, Motorola iPhone helmet gear, and EVDO phones expand digital access.
MENTIONED IN THIS ARTICLE
Las Vegas
SBC Communications Inc
Consumer Electronics Industry
TiVo Inc
Orb Networks Inc
Sling Media Inc
Motorola Inc
Apple Computer Inc
Samsung
Joe Cavaretta
Associated Press
Sanyo
Las Vegas Convention Center
Microsoft
Bill Gates
Bag handlers wary of blame as merger deadline nears
US Airways baggage handlers union head Randy Canale says a negotiated cost-cutting deal by Thursday is unlikely. A bankruptcy judge could void the IAM District 141 contract, letting the airline push deeper pay and benefit cuts. Union leaders dispute blame for the holiday travel fiasco, urging better preparation and a united effort to save the carrier.
MENTIONED IN THIS ARTICLE
US Airways
Randy Canale
International Association of Machinists District 141
Philadelphia
Robert Boland
IAM
U.S
Stephen Mitchell
Canale
Paper checks fade as online bill pay grows in U.S.
ATLANTA based Ken Machemehl joins a national trend shifting from handwritten checks to online bill pay and debit card use. The Harland check printing firm adapts, expanding into banking software and fraud preventing prototypes as the check business declines from 63 percent of sales to other services.
MENTIONED IN THIS ARTICLE
Atlanta
Ken Machemehl
Machemehl
Decatur
Harland
Discounting erodes profits as holiday sales slow in late season
Wall Street analysts say heavy discounting cut retailer profits despite meeting holiday sales goals. John Morris of Harris Nesbitt notes margin squeeze amid last minute markdowns and a surge in post holiday traffic. RetailMetrics projects weak fourth quarter profit growth around 7-9 percent after December results. ICCSC reports 4.6 percent same-store gains for week ending Jan 1, while ShopperTrak cites total sales up 55.6 percent year over year.
MENTIONED IN THIS ARTICLE
New York
Wall Street
John D. Morris
Harris Nesbitt
Morris
Ken Perkins
RetailMetrics LLC
Swampscott
Mass
Perkins
International Council of Shopping Centers
ShopperTrak
Also Mentioned on This Page
Russell
Dow Jones
Abe Ci
Standard & A
Feds
U.S. Airlines
Able
United States
EVDO
Microsoft Corp
Digital Entertainment Center
Cox News Service
Jeff Chiu
Macy's
San Francisco