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Buffalo stocks decline

The Bloomberg Buffalo Index fell 2.19 points, or less than 1 percent, to 267.67. Companies that fell outnumbered those that rose, 33 to 18, while one was unchanged. The index has risen 2.5 percent this year to date.

Cummins Inc., a Columbus, Ind.-based maker of diesel engines, fell $6.30, or 6 percent, to $106.32. HSBC Holdings PLC, Europe's biggest bank by market value, fell $2.57, or 3 percent, to $84.74.

Among the leading movers, Cameron International Corp., the Houston-based maker of oil and gas pressure control equipment, rose $4.90, or 5.5 percent, to $94.23. Graham Corp., a New York-based producer of vacuum and heat-transfer equipment, rose $3.75, or 6.3 percent, to $63.

The Bullfinch Fund's Unrestricted Series fund was unchanged from last week at $14.09. Its Western New York Series fund rose $0.12 to $14.63.

-- Bloomberg News


Buying more Borders

Activist investor William Ackman raised his stake in Borders Group, the second-biggest U.S. bookstore chain, after the stock lost more than a fifth of its value in less than two months.

Ackman holds 17.1 percent of Ann Arbor, Mich.-based Borders, according to a regulatory filing by his Pershing Square Capital Management on Friday. Previously, he held an 11.7 percent interest. He declined to say why he increased his holdings.

Borders shares have fallen 22 percent since Ackman, 41, disclosed on Oct. 9 -- almost a year since first buying a stake in the bookseller -- that he may take a more active role in advising Borders' board and management.

Borders posted its seventh straight quarterly loss this week on discounts to frequent shoppers and higher costs to remodel stores.

-- Bloomberg News


Dell sues Florida company

Dell Inc., the second-biggest seller of personal computers, has sued a Florida company it said was improperly selling Dell computers in Africa and Latin America without permission.

Intertech Trading Corp. was authorized to buy Dell products, add hardware and software and then resell the computers within the United States, Dell said Wednesday in a federal complaint in Miami. When the company found Intertech also was selling them outside the U.S. in 2004, Dell canceled the contract, according to the lawsuit.

Intertech "continued to purchase Dell computer products and accessories for resale, including into foreign markets outside of the United States, in express disregard of its suspension," Dell said.

Texas-based Dell is seeking a federal court order to stop Intertech from selling the Dell computers and turn over any profit, plus damages.

Officials of Intertech didn't respond to messages seeking comment.

-- Bloomberg News


No regrets, Greenspan says

Former Federal Reserve Chairman Alan Greenspan said Friday that the deepening slump in the U.S. housing market isn't a result of his policies.

"Markets are becoming aware of the fact that the decline in house prices is not stopping," Greenspan said in Oslo. "I have no particular regrets. The housing bubble is not a reflection of what we did, as it is a global phenomenon."

Home prices fell in a third of U.S. cities last quarter.

-- Bloomberg News

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