First Place shares continue to decline

First Place shares continue to decline

WARREN

Prices of First Place Financial Corp. shares continued to deteriorate, two days after the corporation and its subsidiary, First Place Bank, consented to cease-and-desist orders.

Shares on Wednesday fell to an all-time low of $1.

By closing Thursday, shares were 96 cents, and on Friday, they fell an additional 10 percent to 86 cents, the lowest total since it first went public in January 1999.

Shares on Tuesday were $1.28 each but quickly fell after the announcement of the cease-and-desist, in which the bank needs to raise additional capital to cover potential loan losses.

RTI shares rebound slightly after drop

PITTSBURGH

Shares of Pittsburgh-based RTI International Metals Inc. rebounded slightly Friday after they fell considerably Thursday.

Shares plummeted Thursday after investment firm Goldman Sachs downgraded RTI from neutral to a sell.

After closing the day at $37.45 a share Wednesday, stocks fell to as low as $31.85 by mid-Thursday. But by Friday’s closing, RTI shares increased by 91 cents and finished at $33.57 apiece.

Sachs said RTI may face a margin squeeze and said the market is underestimating that assertion.

Sachs lowered its price target from $40 to $31.

Seminar to discuss career options

YOUNGSTOWN

The YWCA of Youngstown, in partnership with Eastern Gateway Community College, will present a free orientation session on good-paying and stable career options.

The seminar will take place from 6 to 7 p.m. Thursday at the YWCA, 25 W. Rayen Ave., and will focus on emergency medical services or criminal-justice careers.

To register, call Jennie Andrews at 330-746-6361.

Natural-gas filling stations debuted

PITTSBURGH

Giant Eagle, Inc. this week debuted its first two compressed natural-gas filling stations in the Pittsburgh area.

CNG is a gas alternative that consists mostly of methane and is odorless, colorless and tasteless. It comes from domestically drilled gas wells or in conjunction with crude-oil production, according to www.cngnow.com. It can be used in bi-fuel vehicles.

Highway-use tax

WASHINGTON

The Internal Revenue Service on Friday advised truckers and other owners of heavy highway vehicles that their next federal highway-use tax return, normally due Aug. 31, instead will be due Nov. 30.

Because the highway-use tax is scheduled to expire Sept. 30, the extension is designed to alleviate confusion and possible multiple filings that could result if Congress reinstates or modifies the tax after that date.

Last year, the IRS received about 650,000 Form 2290s and highway-use tax payments totaling $886 million.

From staff reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .62, 22.15 .07

Avalon Holdings,2.76—.05

Clear Channel, .63 59.53 .46

Cortland Bancorp, 7.12.00

Farmers Nat., .12, 4.85 —.13

First Energy, 2.20, 43.28—.10

FirstMerit Corp., .64,16.53 —.07

First Niles Financial, .32,7.50.00

First Place Fin., .86—.10

FNB Corp., .48,10.09—.11

General Motors,29.76—.34

General Electric, .60,18.41—.12

Motors Liquidation, .0422.00

Huntington Bank, .04, 6.14—.05

JP Morgan Chase, 1.00,39.98—.37

Key Corp, .12,7.93—.03

LaFarge, 13.58 —.27

Macy’s, .40, 29.98—.08

Parker Hannifin, 1.48, 87.462.45

PNC, 1.40,56.82—.44

RTI Intl. Metals,33.57.91

Simon Prop. Grp.,3.20,118.791.27

Stoneridge 14.67 —.07

United Community Fin. 1.25—.01

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