Gwinnell named president, CEO

Gwinnell named president, CEO

YOUNGSTOWN

The board of directors of Northern States Metals, a full-service provider of custom-designed, engineered and extruded aluminum products and owner of Solar FlexRackTM, on Tuesday announced it has appointed Jeff Gwinnell as the company’s president and chief executive officer. Gwinnell also will join the company’s board of directors.

Gwinnell was most recently president and CEO of Avtron, a Cleveland-based manufacturer of highly engineered equipment and components. During his three-year tenure with Avtron, he successfully drove rapid revenue growth to more than $100 million.

Gwinnell replaces Tom Meola, who resigned from the company after four years as president and CEO.

Young Professionals to have Jan. mixer

youngstown

The Mahoning Valley Young Professionals will have a January mixer at 5:30 p.m. Thursday at Stambaugh Auditorium, 1000 Fifth Ave. in Youngstown.

Agency: Oil prices may continue to fall

NEW YORK

The International Energy Agency says oil prices may fall further this year due to low demand, warm winter weather and an oversupply of crude.

The organization, which advises countries on energy policy, said in its monthly report Tuesday that global excess supply may reach 1.5 million barrels per day during the first half of the year.

U.S. crude prices have fallen 24 percent since the beginning of the year. Benchmark U.S. crude fell $1.03, or 3.5 percent, to $28.39 a barrel in New York on Tuesday.

Fuel prices boost Delta’s earnings

DALLAS

Cheaper jet fuel thanks to falling oil prices helped Delta Air Lines earn $980 million in the fourth quarter despite lower revenue than a year ago.

Delta shares rose almost 5 percent in midday trading Tuesday, recovering some of their January losses.

Delta forecast another decline in a key revenue measure through the first three months of 2016. That could add to investor concern that airlines are adding too many flights while fuel is relatively cheap, which is pushing fares lower.

UnitedHealth sees 19 percent drop in 4th-quarter profit

MINNTONKA, MINN.

UnitedHealth Group closed 2015 with a 19-percent drop in fourth-quarter profit, but the nation’s largest health insurer still topped Wall Street’s expectations thanks in part to growth outside of its core business.

The Minnetonka, Minn., company said Tuesday that operating earnings from its Optum segment jumped 50 percent in the quarter and now makes up nearly 40 percent of the company’s annual total.

Health insurance is UnitedHealth’s main business, but it has been leaning more on its Optum segment for growth, especially as it takes financial hits from coverage it sells on the Affordable Care Act’s public insurance exchanges.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .126.74-0.16

Aqua America, .71 29.310.32

Avalon Holdings,1.67-0.02

Cortland Bancorp, .2415.500.00

Farmers Nat., .128.02-0.13

First Energy, 1.44 32.490.66

Fifth/Third, .5216.88-0.24FirstMerit Corp., .6816.11-0.18

First Niles Financial, .209.000.00FNB Corp., .4811.78-0.08General Motors, 1.4429.40-0.17

General Electric, .9228.490.00

Huntington Bank, .28 9.48-0.10

iHeartMedia Inc.,1.030.02

JP Morgan Chase, 1.7657.01-0.03Key Corp, .3011.33-0.18LaFarge, .3417.570.00

Macy’s, 1.44 38.760.88

Parker Hannifin, 2.52 87.87-0.12PNC, 2.0485.33-1.00

Simon Prop. Grp., 6.40186.402.23

Stoneridge 11.10-0.16

Talmer Bank, .04 16.63-0.21

United Comm. Fin., .10 5.570.00

Selected prices from Tuesday’s 4 p.m. close.