Best Buy cancels some online orders

December 23, 2011 at 12:00a.m.

ATLANTA

Best Buy has alerted some customers that it will not be able to fill their online orders, just days before Christmas.

The largest U.S. specialty electronics retailer said late Wednesday that “overwhelming demand for some products from Bestbuy.com has led to a problem redeeming online orders made in November and December.

The Minneapolis company declined Thursday to specify how many orders are affected or which products are out of stock.

The shortages are a black eye for Best Buy, which has beefed up its online campaign to fight off intense competition from online retailers and discount stores. And the holiday season is crucial for retailers such as Best Buy because it can make up to 40 percent of annual sales.

Toyota aims to sell 8.48 million vehicles

TOKYO

Toyota is aiming for a comeback, targeting record global sales of 8.48 million vehicles in 2012 and an even bigger number in 2013 after being battered this year by the March disaster in Japan and flooding in Thailand.

Toyota Motor Corp., Japan’s top automaker, relinquished its title as the world’s biggest in global vehicle sales for the first half of this year, sinking to No. 3 behind U.S. rival General Motors Co. and Volkswagen AG of Germany.

Toyota’s global vehicle sales for this year totaled 7.9 million vehicles, including group companies, down 6 percent from the previous year, it said in a statement Thursday.

Mortgage rate drops to record 3.91%

WASHINGTON

The average rate on the 30-year fixed mortgage fell to a record 3.91 percent this week, the third time this year that rates have hit new lows.

Freddie Mac says the rate on the 30-year home loan fell from 3.94 percent the previous week. The average on the 15-year fixed mortgage was unchanged at 3.21 percent. That’s also a record.

Low rates offer a historic opportunity for those who can afford to buy a home or refinance. But many Americans either can’t take advantage of the rates or have already done so.

From wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .66, 21.86 —.01

Avalon Holdings,2.77.00

Clear Channel, .65 61.06 —.37

Cortland Bancorp, 7.00.00

Farmers Nat.4.85 .02

First Energy, 2.20, 44.29—.02

FirstMerit Corp., .64,15.34 .22

First Niles Financial, .32,7.98.00

First Place Fin., .45.02

FNB Corp., .48,11.27.08

General Motors,20.71.39

General Electric, .60,18.05.53

Motors Liquidation, .0422.00

Huntington Bank, .16, 5.605.20

JP Morgan Chase, 1.00,33.451.13

Key Corp, .12,7.73.19

LaFarge, 8.57 .17

Macy’s, .40, 31.87—.17

Parker Hannifin, 1.48, 76.15.13

PNC, 1.40,58.001.12

RTI Intl. Metals,23.58.59

Simon Prop. Grp.,3.20,129.101.46

Stoneridge 8.63 —.10

United Community Fin. 1.20—.01

Selected prices at 4 p.m. Thursday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.