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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 15, 1998
Page
2
Huntington Bancshares Inc. posted a fourth quarter net income of 90.7 million dollars or 47 cents per share, up 14.6 percent from a year earlier, with 26 billion plus in assets and 544 Ohio plus offices. In 1997 the company’s full year net income rose 11.4 percent.
Federal safety officials suspect corrosion makes anti-lock brakes prone to failure in about 3.6 million GM sport utility vehicles and pickups from 1991 to 1994. GM disputes the claim, noting braking remains effective. NHTSA has logged 15,400 Kelsey Hayes brake complaints, 2,728 crashes, 437 injuries, with 1991–94 Blazer Jimmy Bravada Typhoon and 1992–94 Suburban models under study.
In Red Wing Minnesota, Red Wing Shoe Co. expands while U S shoe production declines. The privately held firm operates two Red Wing factories making about 10,000 pairs daily and added plants in Potosi Missouri and Danville Kentucky. CEO Bill Sweasy cites near 300 million in 1996 revenue as ballpark. The firm employs over 2,500 with a strong focus on work shoes, offering 150 work shoe styles and a historic 1948 Irish Letter boot still popular today.
A federal judge pressed Microsoft executive David Cole over an injunction requiring a Windows 95 version without Internet Explorer. Microsoft asserts removing 26 IE files would cripple the browser but still satisfy the court. The DOJ argues for a minimal uninstall and full Windows function remains disputed.
U S stocks extended a rebound with Intel reporting a solid quarter and beating estimates, though Asia's crisis keeps investors cautious. The Dow finished up 52.56 to 7784.69, lifting about 204 points for the week. Analysts noted profit taking and a mixed outlook for tech amid ongoing volatility. Intel posted 1997 fourth quarter profit of 1.74 billion, down 9 percent from a year earlier, citing Asia weakness and higher costs as factors.
In a dense AP style rundown for New York trading, analysts list the most active stocks and notable movers across sectors with multiple company names and figures. The piece highlights gains, losses, and notable activity among firms like Seagate, Merck, Nike, Merck, and others, reflecting a broad snapshot of early prices and market mood.
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