The Market in Review Summary
The Market in Review shows a price at 10,702.19 with a price change of 0.40. This brief note records a modest market uptick in the session.
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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 30, 2001
Page
5
The Market in Review shows a price at 10,702.19 with a price change of 0.40. This brief note records a modest market uptick in the session.
Stocks of local interest and market footnotes summarize changes in values and indicators. The page lists gainers and losers with thresholds of two dollars for listings, one dollar for actives, and notes on dividends, rights, splits, and warrants alongside definitions from the Associated Press.
DaimlerChrysler said it will slash 26,000 U.S. Chrysler jobs over three years as part of a restructuring to return to profitability. The cuts total about 20 percent of the North American workforce, with 19,000 hourly and 6,800 salaried positions affected. Production capacity will drop 15 percent and six plants will idle through 2002.
Pilgrim's Pride completes its acquisition of Virginia based WLR Foods for 14.25 per share in a 280 million transaction. Pilgrim's Pride to assume 45.5 million of WLR debt and move to the second largest chicken producer in the United States. WLR contracts with about 900 farmers across Virginia West Virginia Pennsylvania and the Carolinas.
Investors sent stocks modestly higher in light trading ahead of the Fed two day meeting starting Tuesday. Dow rose 42.21 to 10702.19 while Nasdaq gained 56.72 to 2838.02 and S P 500 added 9.17 to 1364.12. Technology firms led gains on hopes of rate cuts though Cisco signaled tougher quarters ahead. Hewlett Packard and Dell climbed, while IBM and American Express posted mixed results amid a cautious market tone.
New York AP report notes a U S economy slowing toward near zero growth as Greenspan and the Fed raised rates six times in 15 months. It cites high productivity masking inflation, rising inventories, labor shortages, and quality issues in products and services, with concerns over stock valuations and increasing financial frauds and tax schemes.
Narrows Livestock Auction Market sold 176 stock feeders including steers and heifers across weight ranges with Holstein, slaughter cattle, sheep, goats and hogs. Cows with calves, bred cows, and other categories sold, with prices listed for each class.
A handwritten 1964 datebook found in the basement of Colonel Harland Sanders home, once owned by KFC founder Sanders, lists 11 herbs and spices but KFC says it is not the secret original recipe. Tommy and Cherry Settle, who bought the home in the 1970s, found the book and sued for possession after seeking to authenticate it for sale to a collector.
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