Events Calendar
In This Section
Matsos bottling a dressing that’s selling in 25 states
GM sues over millions spent on steering repairs
Economic survey: Job losses to bottom out in first quarter
Ohio gas prices up 12 cents from last week
SCORE offers wide variety of workshops
After 30 years at the helm of Akron Children's, Considine still looks to future
New version of Mozilla Thunderbird landing soon
Most Read Stories
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Victim of beating in Kent last week is declared dead at Akron hospital
Akron man killed in crash on his street
Browns find another way to lose
Can DNA tests free ex-Akron captain?
After 30 years at the helm of Akron Children's, Considine still looks to future
Dad accused of forcing son into field, killing him
Man found dead in North Akron home is identified
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Sunday Notebook
Patrick McManamon:
Browns sick after sick loss in Detroit
Akron Zips:
Zips advance to Sweet Sixteen
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Post-game defensive quotes
Kent State Sports:
Kent State defeats Rochester College, 63-44
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
The Onion, By Any Other Name…
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (70) Savings in Medicare Advantage
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Faye Dunaway to be Evicted?
Ohio Travels with Betty:
Monique asks how to get tickets for the Polar Express.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Personal Rant – You are All Wrong About Jobs, or the Lack of Jobs, Being the Reason People Do Not Live in NEO
Akron Gamer:
Nintendo's Mario endures even as games come and go
Published on Tuesday, Jul 22, 2008
Rising oil prices
cut into stock gains
Wall Street turned in a mixed performance Monday as investors watched the price of oil regain ground and decided to cash in some of their gains from the stock market's big rally last week.
Crude rose $2.16 to settle at $131.04 a barrel and the rise offset initial market enthusiasm after Bank of America Corp. posted results that beat expectations, raising hope the credit crisis might be easing for the nation's biggest retail banks.
With Bank of America's results, four of the nation's five biggest banks have now reported better-than-expected earnings, and that's raising hopes that the financial sector is starting to recover from the year-old credit crisis.
The Dow Jones industrial average fell 29.23, or 0.25 percent, to 11,467.34 after moving in and out of positive territory.
Apple's earnings
jump 31 percent
Macintosh and iPod sales helped boost Apple Inc.'s fiscal third-quarter earnings 31 percent, beating Wall Street's expectations, but profit margins contracted and the company issued soft guidance for the current quarter.
Apple earned $1.07 billion, or $1.19 per share, 11 cents ahead of Wall Street's expectations, according to a Thomson Financial survey of analysts. Revenue jumped 38 percent to $7.46 billion, ahead of analysts' average view for $7.37 billion in sales.
Telecommunications
company buying firm
Akron-based telecommunications company First Communications will acquire GCI Globalcom Holdings Inc. in Chicago for $58.5 million.
Globalcom provides voice and data services to small and medium-sized businesses in the Chicago market, First Communications said.
In a related move, First Communications closed on $50 million in incremental term loan commitments that will be used to finance the Globalcom purchase. Akron utility FirstEnergy Corp. is a shareholder in First Communications.
Saint-Gobain set
to open new facility
Saint-Gobain Crystals will inaugurate its new headquarters and production facility in Hiram on July 29.
The 110,000-square-foot building replaces the company's operations in Newbury. The new building also will let the company expand production of its Scintillation business. The unit designs and fabricates detectors that are used for medical diagnosis, gas and oil exploration, and lighting, aerospace and security applications.
More than 250 people are employed in Saint-Gobain's Northeast Ohio Scintillation business unit.
Paris-based parent company Compagnie de Saint-Gobain approved the Hiram project in September.
Time Warner Cable
shares fall 4.1%
Shares of Time Warner Cable Inc., the second-largest U.S. cable-television operator with operations in Northeast Ohio, fell the most in more than five months after Pali Capital analyst Richard Greenfield recommended that clients sell.
Time Warner Cable, which is being spun off from Time Warner Inc., fell $1.14, or 4.1 percent, to $26.77 on Monday, the most since Feb. 5.
Increased competition and the weakening economy are driving people to review offers from other providers, Greenfield wrote in a note, pointing out regulators' approval last week of Verizon Communications Inc.'s FiOS digital TV service in New York City.
Company boosts bid
for Continental AG
Schaeffler Group said it raised its takeover offer for tire maker Continental AG of Germany. Schaeffler said it will offer 70.12 euros (or $111.30) a share after Germany's financial services regulator determined the company's average three-month value. The previous offer was 69.37 euros (or $110.13).
Smucker declares
dividend of 32 cents
J.M. Smucker Co. of Orrville declared a dividend of 32 cents a share, payable Sept. 2 to shareholders of record Aug. 15.
Rising oil prices
cut into stock gains
Get the full article here.
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