New Farmers site

New Farmers site

BOARDMAN

Farmers National Bank and Farmers Trust Co. will move into its new signature building beginning Monday.

The newly constructed structure is at 42 McClurg Road and is across the street from St. Elizabeth Health Center and the Davis YMCA.

“Our new location will enable us to continue our long-term commitment to the community while taking advantage of the synergies created by the presence and close affiliation of the Bank with the Trust Company,” said James H. Sisek, president and CEO of Farmers Trust.

The building will serve as the headquarters for Farmers Trust; Farmers National Bank’s Private Banking Division and other lending services will also be in the new building.

Home sales increase

washington

Home sales in December reached their highest pace in nearly a year. The gain coincided with other signs that the troubled housing market improved at the end of last year.

Analysts cautioned that sales remain historically low and that it will take years for the home market to return to full health.

Still, the third straight monthly sales increase was encouraging. Sales of previously occupied homes rose 5 percent to a seasonally adjusted annual rate of 4.61 million in December, the National Association of Realtors said Friday. It’s the best level since January 2011.

Gas pump prices

Americans aren’t likely to find much relief from high prices at the gas pump as they go about paying their post-holiday bills.

Retail gas prices are at their highest levels ever for this time of year despite ample supplies and declining demand. That’s because tension in the Persian Gulf has kept crude oil prices around $100 per barrel for most of the month.

Analysts say oil prices are likely to remain at those levels until there is clarity about what will happen in the Gulf, where Iran has threatened to close the Strait of Hormuz if the U.S. and other countries impose more sanctions on its nuclear program.

Microsoft, IBM push Dow up; Google falls

new york

IBM and Microsoft drove the Dow Jones industrial average higher Friday after the tech giants reported stronger earnings than analysts expected.

Microsoft said sales of Xbox games and Office software helped push revenue up in the last quarter of 2011. IBM credited better sales of software and services and raised its earnings outlook for the year. Microsoft rose 6 percent and IBM rose 4 percent.

The Dow rose 96.50 points to close at 12,720.48. That’s a gain of 0.8 percent. Without the huge gains in IBM and Microsoft, the Dow would have risen just 24 points.

Google lost 8.4 percent after its earnings per share fell a dollar short of analysts’ estimates. The misfire stemmed from an 8 percent drop in prices that the Internet search giant charges advertisers for each click.

Vindicator staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .66, 21.74 .03

Avalon Holdings,3.4899.16

Clear Channel, .78 63.18 —.45

Cortland Bancorp, 6.66.00

Farmers Nat.5.13 —.02

First Energy, 2.20, 41.53.39

FirstMerit Corp., .64,16.03 .00

First Niles Financial, .32,7.30.00

First Place Fin., .65.08

FNB Corp., .48,12.43.23

General Motors,25.00.18

General Electric, .68,19.15.00

Motors Liquidation, .0422.00

Huntington Bank, .16, 5.92.13

JP Morgan Chase, 1.00,37.36.43

Key Corp, .12,8.28—.02

LaFarge, 9.97 —.03

Macy’s, .40, 35.38—.44

Parker Hannifin, 1.48, 81.52—3.45

PNC, 1.40,59.63.23

RTI Intl. Metals,26.12—.30

Simon Prop. Grp.,3.60,131.66.44

Stoneridge 9.19 —.28

United Community Fin. 1.29.01

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.