Client News Release
Early Glance: Telecom companies (AP) and Lubrizol acquires Dow polyurethane business (AP)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 01/05/2009 - Most Popular industry news provided by Financial News USA. NEW YORK (AP) -- Shares of some top telecom companies are down at 10 a.m.:
AT&T Inc (NYSE: T) fell $1.11 or 3.8 percent, to $28.31.
Qwest (NYSE: Q) fell $.15 or 4.1 percent, to $3.54.
Sprint Nextel (NYSE: S) fell $.06 or 3.1 percent, to $1.89.
Verizon (NYSE: VZ) fell $1.87 or 5.4 percent, to $32.77. [Read the full article]
CLEVELAND (AP) -- Lubrizol Corp. (NYSE: LZ), a specialty chemical manufacturer, said Monday it has acquired a Dow Chemical Co. polyurethane business.The deal, which closed Dec. 31, expands Lubrizol's estane engineered polymers business. Financial terms were not disclosed.
Dow's thermoplastic polyurethane business posted revenue of about $85 million in 2007. Lubrizol said.The agreement includes all commercial, production and research and development assets of the Dow business. [Read the full article]
WASHINGTON (AP) -- Construction spending fell less than expected in November as record activity on nonresidential projects helped offset another steep decline in housing. The outlook, however, is for significant weakness as the worst recession in at least a quarter-century takes its toll on construction.
The Commerce Department reported Monday that construction spending dropped by 0.6 percent in November, less than half of the 1.3 percent decline economists expected. A 4.2 percent fall in housing construction was partially offset by a surprisingly strong 0.7 percent rise in nonresidential activity.But economists expect housing, which has been in a slump for two years, will continue to struggle in the months ahead. [Read the full article]
SIOUX FALLS, S.D. (AP) -- Israel's ground offensive in Gaza and a dispute between Ukraine and Russia over gas imports pushed oil prices above $47 a barrel Monday, but some analysts say there's more than just unrest in the Middle East behind the rally.
Light, sweet crude for February delivery rose 92 cents to $47.26 a barrel on the New York Mercantile Exchange, after jumping $1.74 on Friday to settle at $46.34.Phil Flynn, an analyst at Alaron Trading Corp. [Read the full article]
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