Krispy Kreme Doughnuts Corp., the popular Southern chain that has gone national, said Tuesday it will split its stock 2-for-1 nearly one year after its initial public offering. Since pricing its shares at $21.00 for its IPO in April 2000, Krispy Kreme has seen its stock price soar to as high as $108.50 in November. The stock closed at $67.69 on Tuesday and rose to $68.50 in after-hours trading. The additional stock will be distributed as a dividend on March 19 to shareholders on record as of March 5. Krispy Kreme has a location in Tonawanda and is planning a second in Cheektowaga.
Regal Cinemas said it's considering shutting up to 30 percent of its theaters as the biggest U.S. cinema chain jettisons money-losing locations in a struggle to repay almost $2 billion of debt.
Goodyear Tire & Rubber Co., which owns Dunlop Tire in Amherst, said it will cut more than 7,200 jobs as high prices for raw materials, especially products derived from oil, continue to hurt results.
North Fork Bancorp, which serves the New York metropolitan region, agreed Tuesday to buy Commercial Bank of New York for about $175 million to expand its presence in Manhattan.
AT&T Corp., the largest U.S. long-distance phone company, said it will keep as much as $3 billion of AT&T Wireless stock instead of distributing it to shareholders.