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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jul 21, 2004
Page
9
Market summary shows Russell 2000 at 564.19 with 1,913 advances and 1,343 declines on the NYSE diary and 2,102 advances with 999 declines on Nasdaq. Volume figures: NYSE 1,759,832,370 shares and Nasdaq 1,575,771,116 shares. New highs, new lows, and unchanged counts are listed, with daily totals for the market activity.
Ford Motor Co reports a second quarter profit of 1.2 billion dollars or 57 cents per share, up from 417 million a year earlier. Excluding items, earnings reach 1.3 billion or 61 cents per share, with revenue rising to 42.8 billion dollars driven by automotive sales and stronger Europe results.
Federated Department Stores increases its total stock repurchase authorization to as much as 1.29 billion dollars. The Cincinnati based operator of Macy’s Bloomingdale’s and Lazarus has 540 million dollars remaining under a prior buyback plan. Buybacks aim to lift earnings per share by reducing outstanding shares.
A study by an affordable housing coalition finds low and moderate income workers such as janitors and sales clerks face rising housing costs. In 2003 these workers earned about $18,000, 3 percent above 2001, while the median two bedroom rent reached $791, up 10 percent. Only 25 of 136 large markets showed both occupations earning enough to cover rent on a single income.
Midland Atlantic Co proposes a planned unit development to add more than 91 000 square feet of new retail space anchored by a 70 000 square foot Kroger. The project would annex 43.9 acres from Lemon Township into Monroe with buildable 33 acres, aiming for a late 2005 Kroger opening and a new regional hub near Ohio 63 and Macready Avenue.
Wal-Mart Stores Inc held its first Minorities in Leadership Seminar for Ohio and nearby states on Central State University campus. About 150 managers attended to hear on conflict management diversity consciousness and work life balance.
Cleveland based FitWorks acquires Moore's Fitness Centers ending Joe Moore's 33 year run as a top regional chain. The transition should be complete by Aug 1 with six Miami Valley locations remaining open and four Cincinnati sites closing due to proximity to FitWorks. FitWorks will operate 20 centers across Cleveland Akron Dayton and Cincinnati areas. Moore's runs a Middletown gym on South Breiel Boulevard.
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