Market Watch Diary Report October 29 2004
The NYSE diary shows 1894 advances and 1343 declines with 182 unchanged on volume 1.919 billion. The Nasdaq diary records 1543 advances and 147 unchanged on volume 1.621 billion.
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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Oct 30, 2004
Page
6
The NYSE diary shows 1894 advances and 1343 declines with 182 unchanged on volume 1.919 billion. The Nasdaq diary records 1543 advances and 147 unchanged on volume 1.621 billion.
A brief business item compiled from staff and wire reports outlines BP's operations and market moves. The report notes leadership statements, production outlook, and implications for prices and investors.
The FDA on Friday approved a new use for letrozole to prevent recurrence in postmenopausal women who have completed five years of tamoxifen after treatment for early breast cancer. The drug, already used for advanced disease, will be prescribed to reduce relapse risk in this new indication.
Washington Sears, Roe buck and Co. agreed to pay 500000 to settle federal allegations of failing to report known defects in Craftsman riding lawn mowers. From 1999 to 2001 the company learned of about 1600 fuel leaks and fuel tank cracks but did not report as required by law per the Consumer Product Safety Commission.
Archer Daniels Midland Co reports a 77 percent rise in first quarter earnings to 266 million dollars or 41 cents a share, beating Thomson First Call estimates of 27 cents. Gains come from oilseed and bioproducts processing and feed and ingredient sales with inventory valuation improvements lifting results. The news sent shares above the 52 week closing high.
A federal bankruptcy court in Atlanta approved the sale of Galey & Lord Inc to Patriarch Partners LLC. The New York firm will pay 40 million dollars in cash and assume or refinance secured obligations and liabilities. Closing is expected November 8, as Galey & Lord continues under voluntary bankruptcy protection filed in August.
The July to September GDP rose 3.7 percent at an annual pace, helped by auto sales but held back by a widening trade deficit and high energy costs. Hurricanes in Florida and weaker consumer spending added to concerns about jobs and growth, with analysts predicting a similar pace to close the year.
LexisNexis employees bury old computer programs in a small cemetery near Building 4 at headquarters in Miami Township. The tradition, started over a decade ago, includes wakes for retired data code like EDGAR and CCI, with markers, pig ornaments, and a nod to the tech life cycle.
Ford Motor Co plans to export the Maverick sport utility vehicle to China under a Beijing Washington trade pact. Priced at 288 000 yuan the SUVs will be sold through more than 100 Ford dealers in China and mark a shift from Taiwan sourced units to a U S built model. The move supports the buy USA initiative amid record U S China trade deficits and broader auto parts purchases by GM and DaimlerChrysler.
Avon Products Inc the world s largest beauty seller posted a 33 percent jump in third quarter profit to 1769 million or 37 cents a share as revenue climbed to 1 81 billion from 1 62 billion Analysts polled by Thomson First Call had forecast 34 cents a share The company raised its yearly earnings outlook but warned U S fourth quarter sales may fall about 3 percent amid weaker consumer demand and worries over jobs and fuel prices The gains came from Europe and Latin America while U S performance lagged amid cautious spending by lower income households
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