Market Watch Diary for NYSE October 25 2004
Market diary notes trading activity on the New York Stock Exchange for October 25 2004. Listings reflect broad index movements, individual stock performances, and notable volume shifts across sectors.
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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Oct 26, 2004
Page
7
Market diary notes trading activity on the New York Stock Exchange for October 25 2004. Listings reflect broad index movements, individual stock performances, and notable volume shifts across sectors.
The Federal Reserve Board implements Check 21 converting checks to digital substitute images and processing electronically. Banks will clear checks faster, with potential loss of float time. banks can offer faster direct deposits, alert services, and same day ATM deposits.
Delta Air Lines negotiates a financing package from American Express Travel Related Services, potentially totaling 600 million dollars. Up to 100 million in loans and 500 million as a SkyMiles prepayment, contingent on pilot concession acceptances. Delta stock rose 17 percent to 3.78, while American Express declined slightly.
The Energy Department reported a weekly national average of $2.03 for regular unleaded gas, down 0.3 cent, with prices 49 cents higher year over year. West Coast averages lead at $2.29 while Gulf Coast sits at $1.92. crude futures fell to $54.54 per barrel.
Dutch steel magnate Lakshmi Mittal to pay 4.5 billion dollars in cash and stock for International Steel Group Inc, uniting Mittal controlled firms into Mittal Steel Co. NV. The deal, creating a world scale steel giant with about 31.8 billion in 2004 sales, 70 million tons capacity, and 165000 employees, aims to reshape the industry amid rising China demand and higher energy costs.
World crude steel production reached 839.3 million short tons in the first nine months of 2004, up 8.7 percent from the same period in 2003. Regions show Asinia contributing a 393.3 million ton figure for nine months 2004.
iRobot and Deere announce a 9 foot long semi autonomous battlefield vehicle named the Military Robotic Gator or R Gator. The two seat unit will use off the shelf tech from Roomba and PackBots for pilot production by mid next year at about 250000 dollars each with full production in 2006. The vehicle will offer autonomous remote and manual modes with real time video and sensor data to support perimeter patrols reconnaissance or supply transport on future military missions.
REDMOND Washington Microsoft plans a December 1 release for Live Communications Server 2005. The standard version starts around 750 dollars, with an enterprise edition at 3000 dollars. Optional interoperability with Yahoo AOL and Microsoft instant messaging will cost extra and arrive in 2005.
The U S Justice Department approved a 41 billion deal moving Cingular toward acquiring AT&T Wireless Services. Divestitures of 260,000 AT&T Wireless customers and specific spectrum in markets, including Oklahoma City, are required to limit market concentration before FCC approval. The merger would form the nation’s largest mobile carrier with over 46 million subscribers after divestitures.
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