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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jan 28, 2005
Page
9
Market activity shows the Dow at 616.90 with 169 unchanged and 1,857 advancing. Nasdaq diary lists 1,479 advances and 1,562 declines, with volume around 2.06 billion shares. New highs and lows are sparsely reported, indicating mixed momentum and steady turnover across major exchanges.
Ford Motor Co recalls about 792,000 Ford F-150 pickups Expeditions and Lincoln Navigators from 2000 and 2001 for a cruise control switch that could short and cause a fire under the hood. Dealers will deactivate switches for free and send replacement parts when available. NHTSA opened the probe after 36 reported fires with vehicles parked and ignition off. no injuries.
Elk Grove Village based UAL Corp reports a 664 million fourth quarter loss and a 1.6 billion annual loss for 2004, marking the 18th straight quarterly loss. The airline, in bankruptcy 26 months, has now lost 9.7 billion since 2000, with industry totals nearing 8.6 billion before other carriers report.
Sears Roebuck and Co. reports an 86 percent drop in fourth quarter net earnings after selling its credit card unit, leaving profits dependent on weak retail sales. The $378 million quarterly profit beat analysts on cost cuts, but CEO Alan Lacy calls the year a disappointing financial performance. Officials expect the Kmart merger to close in early March.
Armor Holdings parent firm for O Gara Hess & Eisenhardt wins a 32.4 million contract to supply armored cab components for Stewart & Stevenson Tactical Vehicle Systems in Houston. Production at West Chester Township plant will hit a 550 per month target by March, up from 80 monthly units in late 2003.
The Middletown Monroe and Trenton chamber, under new president Bill Truck, pursued a regional focus and investor-driven growth. Chairman Mike Dickerson outlined plans for business education partnerships with Middletown City Schools, while five firms received Faith in the Future honors for expansions and community service.
Procter and Gamble reports a 12 percent rise in quarterly earnings to 2.04 billion dollars or 74 cents per share for the quarter ended December 31, surpassing analyst expectations. Global sales reach 14.45 billion dollars, up seven percent as management raises full year guidance to 2.61 to 2.64 dollars per share.
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