Kmart stock increases on initial Nasdaq listing

Shares of Kmart Holding Corp., the discount retailer that emerged from bankruptcy last month, increased by nearly 11 percent on Tuesday in its first day of trading on the Nasdaq National Market.

The retailer’s stock had been traded on the over-the-counter market for the last month after the New York Stock Exchange delisted it because its price fell below $1 per share.

The company emerged from bankruptcy in May, and its previous common shares were canceled as part of its Chapter 11 reorganization.

The stock opened at $17.55 per share and rose to a high of $21.42 before closing at $19.60. Kmart operates a distribution center in Lawrence but closed its retail store located on Iowa Street.

Aviation: JetBlue plans expansion

JetBlue Airways is embarking on a growth strategy centered on smaller markets and shorter routes, and announced Tuesday that it had ordered 100 mid-sized jets from Brazilian plane maker Embraer at a cost of $3 billion.

The low-cost carrier, which has been profitable since 2001, said the thrust of the plan was to stimulate demand for discount service in medium-sized cities serving 200 to 500 passengers per day in each direction.

Benefits: Unemployment deadline nearing for residents

Douglas County tornado victims wanting to apply for Federal Disaster Unemployment Assistance face a Sunday deadline.

People who are out of work as a result of the severe storms and tornadoes that struck the county on May 8 can apply for unemployment assistance, which covers people who may not be eligible under traditional state unemployment programs.

Individuals can apply on or before Sunday by calling the Kansas Department of Human Resource’s information line at (800) 292-6333.

Missouri: Utility merger challenged

Missouri utility regulators say they will appeal a court decision to reverse their approval of the merger between St. Joseph Light & Power Co. and what is now Aquila Inc.

The merger, which made St. Joseph a unit of what was then UtiliCorp United, was approved in 2000 by the Missouri Public Service Commission.

The Missouri Court of Appeals ruled in April that the PSC’s approval was flawed. In May, the court rejected motions to reconsider the decision.