Markets plan short day on Friday Most financial markets, includingstock markets, will conduct a half day of trading Friday, closing atnoon Chicago time. The Chicago Sun-Times will publish daily stock andmutual fund prices on Saturday. Yearly stock and mutual fund priceswill be published Sunday. Court halts slowdown at airline AmericanAirlines said it received a temporary restraining order to end a workslowdown by its maintenance workers at two airports. American, theworld's No. 2 carrier, said the work slowdown began Monday at O'HareAirport and Dallas/Fort Worth Airport. The slowdown caused 90 flightsto be canceled because of mechanical reasons Wednesday morning,almost four times the normal rate, said Tim Kincaid, an Americanspokesman. Bank to open downtown branch Manufacturers Bank, based at1200 N. Ashland, said Wednesday that it will open its first downtownoffice in early April. The office, at 2 N. La Salle, will containcommercial real estate lending and private banking divisions. MBFinancial Inc. is the holding company for Manufacturers. VASCOexpects rapid growth VASCO Data Security International of OakbrookTerrace said it expects rapid growth for its Internet security, userauthentication and access control services. The company said it hasrevised its organization to meet demand in the near future. Wells-Gardner anticipates loss Wells-Gardner Electronics Corp., Chicago,expects to lose between $1.2 million and $1.4 million, or 27 centsand 31 cents a share, in the fourth quarter. Wells-Gardner earned$142,000, or 3 cents a share, in the same quarter last year. Thevideo products company said sales should be between $9 million and$9.2 million, down from $10.7 million in the fourth quarter lastyear. The loss stems from a series of one-time programs to reduceinventory and a reduction in sales volume, the company said. Groupincreases stake in USG An investment group with ties to J.R. Simplotraised its stake in USG Corp. to 12.6 percent from 11.4 percent ofcommon shares outstanding. A trust controlled by Simplot bought559,000 shares Dec. 16 at $44.87 apiece, according to a Schedule 13Dfiled with the Securities and Exchange Commission. The trust alsopurchased 585,800 common shares at $50.39 to $51.98 each between Nov.17 and Nov. 23, and now holds about 6.1 million shares in USG, theChicago-based manufacturer of gypsum wallboard. USG shares rose 68 3/4 cents to $46.68 3/4. Prime Capital agrees to sell unit PrimeCapital Corp. said Wednesday that it agreed to sell its CapitalAlliance Financial Services unit as well as a $70 million portfolioof specialty vehicle leases. Financial terms of the sale weren'tdisclosed. The buyer also wasn't disclosed. Prime Capital, aprovider of capital and specialty finance services based in Rosemont,said the buyer has supplied initial funding of $25 million for theleases and should complete the rest of the acquisition by mid-January. Prime Capital said selling Capital Alliance allows it tofocus on communications and information technology vendor finance.Shares of Prime Capital closed Wednesday at 93 3/4 cents, up 12 1/2cents, on the Nasdaq Stock Market. Akorn increases line of creditAkorn Inc., the Buffalo Grove-based maker of sterile specialtypharmaceuticals, said it had increased its revolving line of creditarrangement with the Northern Trust Co. Bank of America has joinedwith Northern Trust and National City Bank to provide the increase,to $45 million from $25 million.

No comments:
Post a Comment