Stocks decline on earnings letdown
New York investors push stocks lower after several pharmaceutical firms miss Wall Street forecasts. The Dow falls 149.40 points to 9,598.24, its largest one day drop since September 24, as Nasdaq and S&P 500 also retreat. Analysts cite cautious outlooks and profit taking, with Merck & Co cited as weighing the Dow despite some firms meeting expectations.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Todd Clark
Wells Fargo Securities
Dow
Standard & Poor
Scott Wren
Equity
A.G. Edwards & Sons
Wren
Merck & Co
Kevin Caron
Ryan, Beck & Co
Employers Cut Work Life Programs Amid Economic Strains
New York employers retreat from work life flexibilities as the 1990s gains wane. A CCH survey of 400+ firms shows job sharing down from 37 to 30 percent, compressed work weeks from 49 to 40 percent, and telecommuting from 47 to 45 percent. SHRM and other reports corroborate a first downturn in family friendly benefits, though some firms keep programs with fewer resources. Absenteeism edges down slightly in 2003 to 1.9 days per year.
MENTIONED IN THIS ARTICLE
New York
Lori Rosen
CCH Inc
Riverwoods
Ill
Society For Human Resource Management
Frank Scanlan
SHRM
Alliance For Work- Life Progress
Work/Life Today
Sharon O’malley
Merill Lynch & Co
Meriill
Selena Morris
CCH
Crude futures slip below $30 as stocks dataabetter
New York crude oil futures closed under 30 a barrel for the first time since October amid a government and industry stock report showing an unexpected crude draw and builds in petroleum products. Brent settled at 28.28 a barrel while November heating oil futures ended near 81.60 cents per gallon.
MENTIONED IN THIS ARTICLE
New York
Phil Flynn
Alaron Trading Corp
Chicago
London
International Petroleum Exchange
Fynn
Mike Fitzpatrick
Fimat
USA
Energy Information Administration
American Petroleum Institute
EIA
U.S
Dow Jones
Dan Jones
Perry unveils Texas regional economic development offices
Gov. Rick Perry announced a new State Regional Economic Development Office network to lure jobs to Texas. Offices will open in Arlington Houston San Antonio East Texas West Texas Harlingen and El Paso to assist local governments in attracting companies with financial and strategic help.
MENTIONED IN THIS ARTICLE
Arington
Texas
Rick Perry
Arlington
Perry
Houston
San Antonio
East
West Texas
Harlingen
el Paso
Lawmaker presses limits on Texas credit scoring rule
State Rep Charlie Geren urged Insurance Commissioner Jose Montemayor to align a TD rule with lawmakers intent on protecting consumers. The hearing debated restricting insurers from using credit history in homeowners and auto rates and whether a 15 percent cap should apply. Progressive argues the rule strengthens protections while cautioning rate impacts. Montemayor will review and make a recommendation.
MENTIONED IN THIS ARTICLE
Austin
Charlie Geren
Texas Department of Insurance
Texas
Fort Worth
Republican
Jose Montemayor
Geren
Jonathan Klein
Progressive Insurance
Progressive
Klein
Montemayor
Ex-Dynegy exec remains sole defendant in case
Former Dynegy Inc. finance executive Jamie Olis faces trial on six charges from 2007 involving alleged debt misclassification. Prosecutors have discussed a superseding indictment, but Olis remains the only defendant slated for the original trial date of November 3. Olis pleads not guilty and is free on a $250,000 bond.
MENTIONED IN THIS ARTICLE
Houston
Dynegy Inc. Finance
Ti Ai
U.S
Jimmy Sledge
Sim Lake
Jamie Olis
Sledge
Nancy Herrera
Michael Shelby
Olis
United States
Terry Yates
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Che
Oie
Cig
Cha
NYSE
Amex Naspaa
Frontin Pt
AmerGam
Todoian Pt
Lurtienis
Newtek
Sanato
Miramar
Shcor
RetailVent
Marne
Avani
Seagatet
Crown
PranelDt
Atrix
AirTran
Intaco
Fedinost
Lions Gta
Dupontp
Tenethitt
He WexOp
Christind
Tush Nba Coal
Intel
DS Unipho
Mroger
Tandys
Sea al Ashland
Lucent NY
PLO
Bkof An
Merck NY
BelSout
Mercsoits Nasd AB
Motorola NY AG
Burnsf NY
Nowtemen
CanterPat
Oracle
ChewnTax
Penney
PerutSys
Cocach
HAG Scheight NY
Awe
DuPont Ny
Eas
Duke Egg Ny
Sears Nes
Sunien Ae
Taco Ny
SM Cox
E Halbbin
Hewett
AntevNy
Usstel NY
An AS Trisi
Veritas Nes
VerizonCm
Inii Amex
WalMat
Ugs
Brock
Bamings
Fa Steelnaoed
Sakstae
Dow Industrials
Dow Transportation
Dow Utilities
S&p
Pia MidCap
FOIA
Smins
American Funds A
Inco P
American Funds
ICAA
Americai Funds
A. Wsha P . Ra
Fidelty Invest
Igntity Invest
Magelin Ot
Ercury
Chaus
Daily Law
Rena ‘Lipper. Inc
Perry Unveils
Rep
Exec
Investment Professionals, Inc
Thayne Willams
Deea
Stephen V. Takach
N. Alexander
Baytown
Werner Abet Spc
Edward Jones
Yun seerereGle
Jennifer Marconteil
Decker Dr
Rollingbrook Call
Zeaber
the Bartown Sun
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