Stocks dip as earnings from 3M and Merck fail to lift mood
Wall Street edged lower Monday as investors took profits after last week's rally. Dow fell 8.75 to 8328.90 while Nasdaq slipped 1.13 to 1424.37 and S&P 500 eased 1.57 to 892.0. Traders awaited more earnings this week amid light volume after Easter holidays.
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New York
Wall Street
Merck
U.S
Todd Leone
SG Cowen Securities
Standard & Poor
Andere
Natigh
Fast AG Dow Industrials
Dow Utilities
Dow Transportation
Nyse Campasila
S&p
Russell
Wilshire
Assela Geet
Ame
Obj
American Funds
Incoa P
Amencan
Anicaa Pi Ly Ae
E.R
Wsha P AQ
Fidelity Invest
ABSA
Rydex
L-International
Mingmumr
Rates mix in Treasury bill auction
Treasury rates were mixed as the government sold 15 billion in three month bills at 1.160 percent and 16 billion in six month bills at 1.185 percent. The three month rate marked the lowest since April 7 while the six month rate was the highest since January 21. Investors await key Friday reports on GDP and consumer confidence as leading indicators slipped 0.2 percent to 110.6, in line with expectations. Dow components 3M and Southwest Airlines moved lower on earnings and guidance, while Merck rose after profits met estimates.
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Washington
Treasury
Treasury Department
Conference Board
Dow
Fied
Wall Street
Southwest Airlines
AMR
American Airlines
Dow Component Merck
Southwest Airlines Posts Profit Amid Rival Losses
Southwest Airlines posted another quarterly profit as rivals suffered heavy losses. The carrier reported net income of 420 million dollars, signaling resilience in a challenging market.
MENTIONED IN THIS ARTICLE
Lowfare Carner Southwest Airlines Co
Southwest Airlines Co
Southwest Airlines posts 48th straight quarterly profit
Southwest Airlines reported $24 million in first quarter earnings, 3 cents per share, up 14.3 percent from a year ago as revenue rose 7.5 percent to $1.35 billion. CEO James Parker cited industry losses from 2001 attacks and Iraq war, noting softer bookings into Q2 2003 with limited revenue growth expected.
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Dallas
Southwest Airlines Co
Southwest
Thomson First Call
Iraq
James F Parker
Sec
AMR shares slide on renewed bankruptcy threat
AMR Corp shares fell 1.02 dollars or 29.4 percent to 3.98 as labor management tensions intensified. The flight attendants union planned a new cost concessions vote, raising the possibility of bankruptcy if unions do not agree to about 10 billion dollars in concessions over six years.
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Dallas
American Airlines
American
AMR Corp
Bankuptcy Court
New York Stock Exchange
Economic indicators slip as March data misss growth
In March the Conference Economic Indicators fell 0.2 percent to 410.6 due to higher oil prices, war fears, and potential terror attacks, signaling weaker consumer confidence. Analysts noted consumption may drive economy with little investment or export growth, complicating stimulus prospects. Fed Chair Greenspan to undergo prostate surgery today at a focal hospital. no cancer detected and anesthesia will not be used.
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New York
United States
Conference Board
Ken Goldstein
Greenspan
Fed
Federal Reserve
Michelle Smith
Clear Channel to manage Destiny USA entertainment venues
Syracuse based Destiny USA megamall partners with Clear Channel Worldwide to manage and promote entertainment venues inside the proposed $2.2 billion project. Clear Channel becomes the first major partner to sign with Pyramid Cos., the mall developer.
MENTIONED IN THIS ARTICLE
Syracuse
N.Y
Clear Channel Worldwide
San Antonio
Entertainment
Pyramid Cos
Associated Press
May Crude Climbs Amid OPEC Watch and War Shifts
New York crude futures rose above 31 dollars as supply shortages and potential OPEC output cuts fueled gains. Traders eyed market fundamentals after Baghdad handover and Nigeria vote-rigging concerns, with May contracts rolling to June as prices hit intraday resistance.
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New York
Organization of Petroleum Exporting
Iraq
Baghdad
Phil Flynn
Alaran Trading Comp
Chicago
Department of Energy
New York Mercantile Exchange
Nigeria
Niger
Ed Silliere
Energy Merchant Corp
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