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Closing Glance: Paper and packaging companies

By Associated Press
June 16, 2008 | Comments (0)

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Shares of paper and packaging companies traded mixed on Monday, as oil prices pulled back from a rise earlier in the day, helping send Wall Street higher in late trading.

The afternoon retreat in oil was accompanied by Lehman Brothers Inc.'s quarterly report earlier in the day.

Although the nation's No. 4 investment bank posted a second-quarter loss of $2.87 billion, investors still seemed optimistic by the financial sector's ability to save itself from bad bets on mortgage debt.

How some paper and packaging companies performed Monday:

Weyerhaeuser Co., up $1.11 to $57.74.

AbitibiBowater Inc., down 24 cents to $13.04.

MeadWestvaco Corp., up 17 cents to $25.26.

International Paper Co., down 32 cents to $24.82.

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