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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Mar 12, 2005
Page
6
Market update shows Dow Jones at 10 774 36 up 77 15 points, Nasdaq and S&P mixed with 2 041 60 and 1 200 08 respectively. Advance decline data list new highs lows and volume across exchanges for the day.
MTR Martco, a Middletown based maker and rebuilder of paper machine components, acquired Orman's Welding Center at 3344 Yankee Road. Orman's specializes in steel and aluminum fabrications for paper mills and steel markets. The purchase excludes Orman's Tytus Avenue office. About 12 new full time workers were hired since February 1. Orman's was founded in 1970. MTR Martco since 1967.
Xavier University agrees to sell its seven station FM network for 15 million dollars to WGUC FM Cincinnati. The deal awaits FCC approval. WVXU FM on campus leads the X-Star Radio Network with WVXC FM Chillicothe and WVXW FM West Union as other group members.
Crude futures topped $54 a barrel as the IEA raised its 2005 world demand growth forecast to 1.81 million bpd to 84.3 million. April light sweet crude rose to $54.10 on NYMEX while Brent fell to $52.11 on the ICE. Analysts note dollar weakness and firmer demand support prices despite recent profit taking.
Procter and Gamble on Friday hiked Folgers ground coffee prices by 12 percent and announced earlier a 14 percent rise in December tied to higher green coffee costs. The changes add 28 cents per 11.5 ounce unit and 13 ounce unit, with further increases on whole bean and instant coffee and Home Cafe. Analyst Jason Gere of A G Edwards & Sons said the move aligns with rising green coffee costs and may trigger competitor price actions.
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