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Monthly Archives: July 2008

Commission: Monroe County among hardest hit from foreclosures

Monroe County and the New York City/Long Island area have taken the biggest hit from mortgage-fraud foreclosures in New York, a state commission reported Thursday. Monroe County had 2,000 foreclosures in 2007, the New York State Commission of Investigation reported. ...

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Bristol-Myers offers $4.5 billion for ImClone

Bristol-Myers Squibb Co. on Thursday offered $4.5 billion in cash for its cancer drug partner, ImClone Systems Inc., AP reported. ImClone’s board has yet to comment on the proposal, which offers its stockholders $60 a share, a 30 percent premium.

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Exxon profit of $11.68 billion sets record

Exxon Mobil Corp. reported second-quarter earnings of $11.68 billion Thursday, the biggest profit from operations ever by any U.S. corporation, but well short of Street expectations, AP reported. Revenue rose 40 percent to $138.1 billion.

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New Scale licenses technology to Tokyo firm

New Scale Technologies Inc. announced it has licensed its patented Squiggle motor technology to Tokyo-based Alps Electric Company Ltd. The agreement expands Victor-based New Scale’s ability to penetrate new, high-volume markets, company leaders said. It is New Scale’s second major ...

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Kodak misses Street expectations; stock drops 10%

Shares of Eastman Kodak Co. dropped more than 10 percent by midday Thursday after the company missed Street expectations for second-quarter earnings and saw its profit decline, excluding onetime charges and gains.

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Graham announces stock split

Graham Corp. announced a 2-for-1 stock split of the Batavia firm’s common shares Thursday and an increase in the post-split quarterly dividend. The stock split will be effected as a stock dividend, and stockholders will receive one additional share of ...

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Unemployment applications soar to highest level since ‘03

The number of people filing claims for unemployment benefits jumped last week to the highest level in five years, reflecting a new government outreach effort to locate people eligible for benefits, AP reported. The Labor Department reported Thursday applications for ...

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Web site allows search of state payrolls

The Empire Center for New York State Policy on Thursday launched a Web site with information on how state and local tax dollars are spent. The Web site, www.seethroughny.net/, initially will offer searchable databases including the payroll for 263,000 state ...

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Sen. Stevens pleads not guilty in corruption case

Alaska Sen. Ted Stevens has pleaded not guilty to charges he lied about accepting more than a quarter of a million dollars worth of gifts from a powerful oilfield contractor, AP reported. He was arraigned in federal court.

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Gatehouse evicted from NYSE floor

Gatehouse Media Inc., the Perinton-based publisher of the Canandaigua Daily Messenger and several weekly newspapers and shoppers in the Rochester area, is no longer being traded on the floor of the New York Stock Exchange because its shares have dropped ...

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Ultralife reports 2Q increase; misses expectations

Ultralife Corp. reported increases in second-quarter sales and income Thursday, driven by its advanced communications systems business, but missed Street expectations. The company reported net income of $6.4 million, or 36 cents a share, compared with $1.3 million, or 8 ...

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Source: Griffey agrees to trade with White Sox

Cincinnati Reds outfielder Ken Griffey Jr. agreed Thursday to accept a trade to the Chicago White Sox, leaving it to the commissioner’s office to approve the deal because money is involved, AP reported, citing an anonymous source.

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Kodak misses Street expectations; stock drops 10%

Shares of Eastman Kodak Co. dropped more than 10 percent by midday Thursday after the company missed Street expectations for second-quarter earnings and saw its profit decline, excluding onetime charges and gains. Kodak stock (NYSE: EK) was trading midday at ...

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Report: N.Y. roads rank among worst

The state’s road conditions are among some of the worst in the country, a new report released by Reason Foundation states. The 17th annual report on the Performance of State Highway Systems ranks New York 45th for overall highway performance, ...

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