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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jun 08, 2005
Page
7
Market data from June 7 2005 shows NYSE with 1856 advances and 1405 declines 247 new lows and 168 unchanged with volume 1 868 315 840. Nasdaq diary records 1435 advances 1579 declines 41 new lows 183 unchanged with volume 1 870 178 886.
Oil prices sagged below 54 a barrel as heating oil buying cooled. Analysts note the rise was driven by fears U S refineries may struggle with winter demand, though the trend remains speculative and focused on heating oil.
Martha Stewart Living Omnimedia reports a strong ad recovery with a 40 percent expected rise in ad pages for the second quarter. CEO Susan Lyne told Deutsche Bank investors the overall revenue should grow even more as ad demand rebounds.
Sears Holdings Corp posted a $9 million first quarter loss or 7 cents a share as weak sales at Kmart and Sears dragged results. A $90 million inventory charge reduced the reported figure. excluding the charge profit would be $81 million or 65 cents a share.
Armor Metal Group Inc will move 17 Mokry-Tesmer full-time workers from Middletown to its Hamilton plant within three to six months after acquiring Mokry-Tesmer in May. The Middletown facility stays open while equipment shifts. the Hamilton site now employs 12. The firms are private and emphasize long experience in precision grinding of rolls used in paper and steel processing.
Senate Finance Committee heard that lax funding rules and corporate masking left millions of workers and retirees with underfunded pensions. United Airlines faced scrutiny after seeking relief to shed 9 billion in obligations, pushing PBGC deficits to 23.3 billion and highlighting risks to taxpayer-backed pension guarantees.
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