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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jun 10, 2005
Page
7
Market activity shows 1,885 new highs and 1,343 declines with 175 unchanged and 21 new lows. Volume reaches 1.84 billion shares. Nasdaq diary reports 1,817 advances with 1,179 declines and 187 unchanged, on volume around 1.65 billion shares.
Countrywide Home Loans Inc opens a new office at 1081 N University Blvd Middletown. The grand opening runs from 4 to 7 p m today with business casual attire. Hors d oeuvres and drinks will be provided and the office contact number is (513) 420 4000.
Jurors in the Tyco trial indicated they had reached verdicts on an unspecified number of charges in the 31 count indictment after a fifth day of deliberations. They sought guidance from the court on how to handle the unresolved counts concerning L Dennis Kozlowski and Mark H Swartz.
Fed Chair Alan Greenspan told the Joint Economic Committee that the U S economy remains on reasonably firm footing amid worries over the budget deficit trade gap and low savings. He signaled continued rate hikes to curb growth and inflation while flagging long term budget concerns as baby boomers retire and health costs rise.
Crude futures climbed over 3 percent closing above 54 a barrel on fears of refinery outages from Tropical Storm Arlene and ahead of next week's OPEC gathering. July light crude settled at 54.28, heating oil and gasoline also gained, while Brent rose on the London market. Oil majors evacuate nonessential Gulf staff as Arlene nears, potentially reducing output. Analyst Phil Flynn called the move bullish amid potential refinery shutdowns.
Intel Corp raised its second quarter revenue guidance to 9.1 to 9.3 billion dollars due to stronger notebook chip demand. Analysts expected about 8.99 billion, while earnings per share guidance was not provided. The update follows a broader chip industry strength and prior Centrino mobile focus.
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