OIL, METALS, CURRENCIES

Crude oil prices advanced over 2% as natural gas prices gained ground. Light sweet crude for February delivery gained $1.42 to $64.21 a barrel. Gasoline added to $1.8155 a gallon. Heating oil gained a cent to $1.8006. London Brent climbed $1.28 to $62.41.

European gold climbed. In London gold rose to $536.30 per troy ounce from $526.90. In Zurich the precious metal advanced to $537.40 from $526.85. In Hong Kong gold fell $3.30 to close at $528.80. Silver closed at $8.96, up from $8.84. In New York gold rose $13.40 to $541.20 per ounce and silver rose 30 cents to $9.173.

The U.S. dollar declined against most major currencies. The euro was quoted at $1.2155, up from $1.2104. The dollar bought 114.54 yen, down from 115.85. The British pound traded at $1.7717, up from $1.7545.

EARNINGS NEWS

AZZ Inc. (AZZ: chart), manufacturer of electrical products, reported a Q3 net income of 30 cents a share, up from 22 cents in the same period in fiscal 2004, beating analyst estimate of 23 cents per share. Quarterly revenue was up 16% from the prior year''s result.

The Great Atlantic & Pacific Tea Company Inc. (GAP: chart), supermarket chain, announced that net loss for Q3 of fiscal 2005 narrowed to $1.74 a share, from $1.96 a share. Its loss from continuing operations narrowed to $1.80 a share vs. $1.89 a share in the comparable period last year. Total sales dropped 37% to $1.58 billion due to $850 million in year-ago sales from A&P Canada, which the company sold in August, but U.S. comparable sales advanced 1.8%. The company said it intends to pursue the implementation of the cost cutting initiative and invest in upgrading its stores.

The Shaw Group Inc. (SGR: chart), engineering and construction company, reported Q1 net income of 41 cents a share, up from 17 cents a share in the same period last year on 40% revenue growth, beating analyst estimate of 36 cents a share. The company attributed the revenue increase to emergency response and disaster relief work in the aftermath of two hurricanes, Katrina and Rita.

Wendy''s International Inc. (WEN: chart), restaurant operator, announced that its U.S. Wendy''s Q4 same-store sales dropped 2.9% at company stores, and 1.9% at U.S. restaurants. Tim Hortons fourth-quarter same-store sales increased 5.8% in Canada, and 6.7% in the U.S. Baja Fresh Mexican Grill Q4 same-store sales dropped 2.9%. Wendy''s announced its strategic initiatives were on track with its original timeline.

Best Buy Co (BBY: chart), home electronics retailer, reported that its December domestic same-store sales advanced 5.6%, and international same-store sales increased 6.6%. Revenue for the month ended Dec. 31, increased 12% to $5.7 billion. The retailer announced that it is well-positioned for Q4.