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TELEGRAM & GAZETTE

Bloomberg Index

Central Massachusetts

-2.65

163.78

Volume: 58,443,240

Up: 6

Down: 18

Unchanged: 5

Gainer: The L.S. Starrett Co. $17.10 +$0.68 (volume of 20,700 shares)

Decliner: IPG Photonics Corp. $15.28 -$1.42 (volume of 243,691 shares)

Noteworthy: Staples Inc. was cut to neutral from buy at Goldman Sachs and rated buy in new coverage at Edward Jones. (Bloomberg News)

Local

RXi webcast

WORCESTER - RXi Pharmaceuticals Corp., a biopharmaceutical company, will hold a live webcast at 11 a.m. Thursday. President and Chief Executive Officer Tod Woolf will present an overview on the company's business and plans. RXi's common stock is expected to begin trading tomorrow under the symbol "RXII" on the Nasdaq Capital Market. The webcast will be available at www.rxipharma.com. RXi's parent company, CytRx Corp. of Los Angeles, intends to distribute shares of RXi stock to its current shareholders today.

Few new jobs

Most Central Massachusetts employers plan no changes in the size of their work forces during the second quarter of the year, according to a new survey from Manpower Inc., the international staffing services company.

About 58 percent of Manpower clients surveyed in Central Massachusetts said they plan no changes to work force levels in April, May and June, Manpower is reporting today. Another 18 percent said they planned to add workers, and 7 percent said they planned job cuts. Manpower said 17 percent of respondents were uncertain.

Employers indicated job prospects were best in construction, nondurable goods manufacturing, transportation and public utilities, and finance, insurance and real estate.

Mapfre revenue

MADRID - Spanish insurer Mapfre SA, which is purchasing Webster-based Commerce Group Inc. for $2.2 billion, expects a 15 percent rise in revenue in 2008 to above 17.5 billion euros ($27 billion), Chairman Jose Manuel Martinez told a meeting of shareholders Saturday. Mapfre posted revenues of 15.21 billion euros in 2007 which in itself was a rise of 12 percent over 2006. Mapfre is the biggest insurance company in Spain, with a market share of 14.3 percent of which 64 percent comes from the domestic market. Martinez said part of the improvement expected in 2008 would come from its foreign business following the recent expansion of its network in Latin America and the United States.

Veterans donation

BARRE - Innovative Incentives Inc., a provider of incentive travel programs, has donated new personal care items, bedding, and clothing to Massachusetts Veterans Inc. of Worcester.

Group at Cytyc

WORCESTER - APICS, the Association for Operations Management, will host a professional development meeting from 5 to 7:30 p.m. Thursday at Cytyc Corp. in Marlboro. The meeting, which includes a plant tour, is open to the first 40 to register. For information, visit www.worcester-apics.org.
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Title Annotation:BUSINESS
Publication:Telegram & Gazette (Worcester, MA)
Date:Mar 11, 2008
Words:466
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