Buffalo stocks fall
The Bloomberg Buffalo Index fell 2.61 points, or 0.9 percent, to 282.50. Thirty-six stocks fell, 16 rose and none were unchanged. The index has risen 8.1 percent this year and 9.1 percent in the past 12 months.
Delphi Corp., based in Troy, Michigan, led the index's decliners, falling 12 cents, or 39 percent, to 19 cents. The former auto- parts unit of General Motors Corp. plans to cut cash payments to GM and its unsecured creditors under its bankruptcy plan, paying the difference with stock in the reorganized company.
Servotronics Inc., the Elma, New York-based maker of electronic controls, also fell, dropping $2.10, or 14 percent, to $13.50.
American Axle & Manufacturing Holdings, based in Detroit, led the index's gainers, rising $3.21, or 14 percent, to $26.94. The largest supplier of axles to General Motors reported a $13.1 million third-quarter profit after a year-earlier loss as sales rose.
Buffalo-based Computer Task Group Inc., which provides computer software and services, also rose, gaining 47 cents, or 9.7 percent, to $5.30.
The Bullfinch Fund's Western New York Series fund fell $0.07 to $15.20. Its Unrestricted Series fund rose $0.02 to $14.67.
-- Bloomberg News
Oil settles near $96
NEW YORK (AP) -- Oil futures added to their gains late Friday when the British Foreign Office said the U.N. Security Council has agreed to draft a new sanctions resolution that could be passed in November if Iranian cooperation with the International Atomic Energy Agency does not improve. Investors worry that any conflict between the West and Iran would disrupt oil supplies from the Middle East.
Light, sweet crude for December delivery rose $2.44 to settle at a record $95.93 a barrel on the New York Mercantile Exchange after rising as high as $96.05 earlier, short of a trading record of $96.24 set Thursday.
At the pump, meanwhile, gas prices jumped 2.9 cents overnight to a national average of $2.942 a gallon, according to AAA and the Oil Price Information Service. Gas prices have risen nearly 19 cents since mid-October.
MINNEAPOLIS (AP) -- UnitedHealth Group, the nation's second biggest health insurer, said Friday it would expand its benefit services portfolio through the acquisition of Fiserv Inc.'s health-related businesses for $775 million in cash.
The transaction includes Fiserv Health, which administers medical benefits to 2 million people; care facilitation business Avidyn Health; and Fiserv Health's specialty services businesses -- which include overpayment recovery firm J.W. Hutton and ppoONE, a claim repricing and data management service.
The deal was expected to close late this year or in the first quarter of 2008, subject to regulatory approvals.
Canadian dollar soars
Canada's dollar surged to a record exchange rate after a government report showed the economy added 63,000 new jobs in October and the unemployment rate fell to 5.8 percent, a 33-year low.
Canada's dollar advanced 1.7 percent to $1.0699 in Toronto. One U.S. dollar buys 93.46 Canadian cents. It earlier touched $1.0721, the highest since the currency was floated.