Crude-oil hovered over $69 a barrel after the U.S. government released oil from the Strategic Petroleum Reserves in attempt to make up for losses caused by Katrina, but gasoline prices surged nationwide as the extent of damages became apparent with key refineries and pipelines out of order. U.S. light sweet crude added 21 cents to $69.15 a barrel, below the record-high of $70.85. Gasoline futures on the Nymex jumped 12.47 cents to $2.38 a gallon. London Brent gained 36 cents to $67.88 a barrel.

Gold in London was traded at $435.75 per troy ounce, up from $433.25.

The U.S. dollar fell against the euro ahead of European Central Bank interest rate decision and reflecting consequences of Katrina’s devastation. The euro was quoted at $1.2378, up from $1.2341. The greenback bought 110.63 yen, up from 110.62.

EARNINGS NEWS

Costco, warehouse facilities operator, posted 4Q net sales of $16.37 billion, an increase of 10 % from $14.83 billion in the comparable period last year. For the full fiscal year ended August 28, 2005, the company posted net sales of $51.87 billion, a rise of 10 % from $47.15 billion during the same period last year.

NCI Building Systems, manufacturer of metal products, reported 3Q net income of 70 cents per share, up vs. 41 cents per share for the same period last year. Sales for the current quarter were $292.7 million and marked a slight decline vs. $295.8 million in the same quarter last year.Fiscal 3Q results for 2004 were influenced by a charge for debt refinancing costs of $9.9 million ($5.8 million, or $0.28 per diluted share, after tax).

Greif, industrial packaging company, reported 3Q net income of$1.71 per share up vs. 51 cents per share for the year-ago period. Net sales advanced 4 %(2 % aside from the impact of foreign currency translation) to $609.0 million for the 3Q of 2005 from $584.8 million for the same quarter of 2004. Greif 3Q results for the current year were positively influenced by higher timberland profits and lower restructuring charges compared to 3Q of 2004.

Ciena, the network specialist, posted 3Q net loss of 9 cents a share, up vs. a net loss of 25 cents a share for the same time a year ago on 46.2% revenue growth over the comparable period last year. Ciena reduced its long-term debt with the purchase of $41.2 million par value of its $690 million outstanding 3.75% convertible notes due in 2008 for $36.9 million.

SkillSoft , provider of content resources for integrated enterprise learning, reported 2Q of fiscal 2006 net income of 22 cents a share, up vs. a net income of 1 cent per share for the same period last year. 2Q net income incorporates $19.5 million, which come from the final settlement with the Company's insurance carriers concerning the 2002 securities class action lawsuit and related legal fees.

CORPORATE NEWS

ISwiss pharmaceutical giant Novartis AG proposed $4.5 billion to gain total control over Chiron Corp., U.S. vaccines maker. Novartis, which already owns a little more than 42% of Chiron, submitted a proposal to Chiron to buy the rest of the company for $40 a share in cash. Chiron shares closed Wednesday at $36.44.

SBC Communications Inc., which has been debating what to do with the AT&T Corp. name after acquiring the company, is inclined at present to call itself by the name of its former parent. As a final decision hasn't been reached, SBC executives still could decide to keep the SBC name or think of another name.

Sun Microsystems Inc. said it completed its acquisition of StorageTek following approval of StorageTek stockholders.