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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jul 23, 2004
Page
9
Market watch reports stock moves with Nasdaq figures for July 22 2004 showing 546.52 Advanced 1,281 New highs 1,974 Declined 20 New lows 158 Unchanged 81 Volume 2 021 739 398. Nasdaq diary lists 1 332 Advanced 20 Declined 1 804 New lows 339 Unchanged 226 Volume 1 924 754 476.
Domino's Pizza and Southern Ohio Pizza Inc plan a noon Saturday opening at 100 N Main St Monroe with a 1 p.m. ribbon cutting attended by company and city officials. The event features the No 15 Napa Chevrolet NASCAR showcar as part of the launch.
In Folsom California the California Independent System Operator reported a third consecutive daily electricity record at 4 18 p m totaling 44 360 megawatts surpassing the prior day by 30 megawatts Air conditioning helped relieve heat in much of the state with temperatures above 100 degrees in the Sacramento area and forecast to rise further Thursday Officials said supplies should remain ample to avoid an electrical emergency
In Vienna, OPEC president Purnomo Vigsi Antoro said the group will raise its production capacity by at least 10 percent by year end to prevent further price rises. OPEC is already producing about 2 million barrels a day above its 25.5 million barrel target.
Adolph Coors Co and Molson Inc announce advanced merger talks described as a merger of equals. The deal would create a roughly $6 billion revenue entity with Molson chair Eric Molson becoming chairman and Leo Kiely of Coors as chief executive amid industry consolidation.
Mitsubishi Motors plans a global restructuring that will trim about 1200 jobs at its Normal Illinois factory this fall, reducing production from two shifts to one in October. The move comes as U.S. sales weaken, debt rises, and recall scandals surround the company. Local union and officials say the layoffs will hit the economy but may be absorbed by a diverse Bloomington Normal economy.
Sears, Roebuck and Co. posts an 83 percent fall in second quarter earnings to 24 cents a share on $8.78 billion in revenue, blaming weak sales and the loss of its credit card unit. Excluding charges, operating earnings were 48 cents per share vs 71 cents expected. Net six month loss hits $806 million.
San Jose based eBay faced a slide after reporting second quarter earnings that doubled from a year earlier yet failed to meet some expectations. Analysts warned the valuation is high given stronger overseas exposure and rising costs as growth slows.
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