Stocks rise modestly as market steadies after Cisco warning
The Dow climbs 58.17 to 10,216.73 and the Nasdaq gains 13.65 to 1,923.22 amid choppy trading. Western bank merger news dominates Iowa markets as First National Bank of Oelwein to acquire Iowa State Bank of Oelwein, effective July. Don Frazier to join First National as senior vice president.
MENTIONED IN THIS ARTICLE
Cisco Systems
New York Stock Exchange
Iowa
Kohl’s
Fiserv
Rockwell
U.S. Cellular
Procter & Gamble
Wells Fargo
First National Bank of Oelwein
Iowa State Bank of Oelwein
Iowa State Bank
First National Bank
Don Frazier
First National
Alliant Starts Hydroelectric Plant in Brazil
Alliant Energy International announced the start up of a 9.5 megawatt hydro facility in Brazil with partner Cataguazes Leopolodina. The Cedar Rapids based unit also reopened a long shuttered Australian hydro plant as part of a global renewable expansion.
MENTIONED IN THIS ARTICLE
Alliant Energy International
Alliant Energy Resources Inc
Brazil
Companhia Forea E Luz
Cataguazes-Leopoldina
Cataguazes
Cedar Rapids
Alliant Energy and
Alliant Energy Resources
Alliant Energy Corp
Weyerhaeuser Reports Sharp First Quarter Drop
Weyerhaeuser Co. posted a 56 percent drop in first quarter earnings to 107 million dollars or 49 cents a share, missing analysts' 62 cent forecast. Excluding a 26 million IT services charge, earnings were 133 million dollars or 61 cents a share. Sales fell to 3.6 billion from 3.9 billion.
MENTIONED IN THIS ARTICLE
Weyerhaeuser Co
Wall Street
Federal Way
Wash
Weyerhaeuser
Thomson Financial
First Call
BizFacts Web shops Percent of U.S. online snappers
A BizFacts summary reports that a portion of U.S. online shoppers say improvements to features would boost their buying frequency. Notably, lower or no fees and better product selection are cited as key drivers.
MENTIONED IN THIS ARTICLE
U.S
Maytag posts lower earnings amid weak economy and pricing pressure
Maytag Corp the Newton based maker of Jean Air Magic Chef Maytag and Admiral appliances reported first quarter earnings of 34.3 million 48 cents a share before tax benefit versus 75.9 million 89 cents a year earlier with tax benefit net income 76.3 million 96 cents per diluted share Analysts expected 41 to 46 cents a share with a 44 cent average The company cited weak economy higher costs and aggressive product development and advertising as pressure and projected second quarter earnings near or above the first quarter.
MENTIONED IN THIS ARTICLE
George C. Ford
Sazette
Newton — Maytag Corp
Wall Street
Jean-Air
Magic Chef
Maytag
Admiral Appliances
Thomson Financial
First Call
Leonard Hadley
Mass transit use climbs to multi decade high nationwide
Mass transit trips rose 3.5 percent to 9.4 billion in 2000, the highest since 1959, while motorists drove 2.7 trillion miles. Cedar Rapids saw 1.35 million trips up from 1.3 million in 1999, and the Neighborhood Transportation System grew to 21 000 trips from 500. Iowa City fell slightly to 1.26 million from 1.33 million.
MENTIONED IN THIS ARTICLE
Washington
Roy Kienitz
Surface Transportation Policy Project
American Public Transportation Association
Ing
Bill Hoekstra
Five Seasons Transportation and Parking
Cedar Rapids
Hoekstra
Iowa City
Ron Logsdon
Logsdon
C.R
I.C. Transit Systems Gazette
Iowa Prepares for Foot-and-Mouth Outbreak
Iowa officials forecast a major impact on the multibillion-dollar livestock industry if foot-and-mouth disease reaches the state. Secretary Patty Judge seeks funding from Gov. Tom Vilsack and the Legislature while planning containment measures, roadblocks, culling, and quarantines.
MENTIONED IN THIS ARTICLE
Iowa
Des Moines
Patty Judge
Gov
Tom Vilsack
United States
Wells Fargo loan losses rise as stock falls on investor worry
Wells Fargo reported first quarter earnings of 1.17 billion or 67 cents a share, matching estimates. The bank set aside 361 million for loan losses, up 31 percent from a year ago, and warned delinquencies may rise. Shares dropped 1.45 to 45.70 amid concerns over higher provisions and California's energy crisis. Pacific Gas and Electric and Southern California Edison are noted troubled borrowers.
MENTIONED IN THIS ARTICLE
San Francisco
Calif
Wells Fargo & Co
California
Wells Fargo
Thomson Financial
First Call
Purina Mills Defends Feed Safety Amid FDA Warning
Purina Mills officials defend the safety of their animal feed after an FDA warning letter citing labeling and record keeping issues. FDA inspections in Oklahoma City found significant deviations on preventing medicated feeds from mixing with nonmedicated cattle and pig feeds. Purina says labeling will be changed to note shared production lines and that safety of products remains intact.
MENTIONED IN THIS ARTICLE
ST. Louis
Purina Mills
U.S. Food and Drug Administration
FDA
Oklahoma City
Mills
Paul Luther
Also Mentioned on This Page
Oelwein Banks Plan Merger
Djia
Alliant
BizFacts
Kry
Niv
Pat Carr
Paul Tra
Newton
Hadley
Fed
Federal Highway Administration
Accord
Lowa
Bobby Ratliff
Benton County
Iowa Agricultural Statistics
Ind i
Ely Licht
Pacific Gas and Electric
Southern California Edison
the Gazette
Qvied
Purina
Jerry K. Ask Investment Services Oy
Jerry K. As
Chestnut Ridge Cr
N.E
Jon
42Nd St. NE
Morelle
Woo
Primus
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