Stock prices rise to 11-week high amid heavy trading
The market surged with the Dow up 9.04 to 862.16 and the NYSE index at 68.25 as volume hit 71.8 million shares. Analysts noted short-covering and strong investor cash as catalysts while NASDAQ climbed to 184.93 and the AMEX gained 2.41 to 275.80.
MENTIONED IN THIS ARTICLE
New York
UPI
Dow
Standard & Poor
National Association of Securities Dealers
IBM
Sears Roebuck
Exxon
Superior
Ashland Oil
Texaco
Amex
Dome Petroleum
Mark Products Inc
Earnings Widen for Tandy and Cox as Sales Rise
Tandy Corp reports third quarter earnings up 30 percent with net income of 45.35 million on 470.607 million in sales, driven by Radio Shack and Color Tile operations. Cox Broadcasting posts first quarter profit of 13.3 million on 108.9 million revenue, citing strong cable revenue growth.
Sea Galley reports first quarter income gains amid sales lift
Sea Galley Stores Inc. announces a 20 percent rise in net income to 555000 for the quarter ending March 31 on a 106 percent sales increase to 16 million. Earnings per share total 14 cents, versus 15 cents a year earlier. Kinder-Care Learnings Centers reports record revenues and earnings for the periods ended March 12, with second quarter revenue up 23 percent to 34695096 and net income up 47 percent to 1626792. six months show continued growth. Kinder Care operates 750 centers in 36 states and two Canadian provinces with Cedar Rapids and Marion among locations.
MENTIONED IN THIS ARTICLE
Bethesda, MD
UPI
Martin Marietta Corp
Martin-Marietta
Fairfax
Ely
Cedar Rapids
Atlanta, Ga
Cox Broadcasting Corp
Cox
Marion
Hiawatha
Dayton, Ohio
Ponderosa System Inc
Gerald S. Office, Jr
Ponderosa
Mountlake Terrace
Wash
Sea Galley Stores Inc
Sea Galley
Westdale Mall
Kinder-Care Learnings Centers
Montgomery
Ala
Kinder Care
Canada
Mid-April Auto Sales Offer Slim Hope for Industry
Detroit reports mid-April car sales up 5.8 percent from 1981 with GM driving gains. GM up 15.5 percent, Ford up 1.7 percent, Chrysler down 12.4 percent, AMC and VW down sharply. Year-to-date totals fall 17.2 percent. GM cites low interest rates as key. GM resumes second shifts and boosts truck output as 9,500 workers return. UAW ends bonus plan controversy after talks with GM.
MENTIONED IN THIS ARTICLE
Detroit
API
General Motors Corp
Ford Motor Co
Chrysler Corp
American Motors Corp
Volkswagen of America Inc
Robert D. Lund
General Motors Acceptance Corp
United Auto Workers
Douglas Fraser
UAW
Fraser
Roger Smith
Life Investors Tender Offer Receives Wide Response
About 3.15 million shares of Life Investors common stock were tendered in a joint bid by Life Investors Inc. of Cedar Rapids and AGO Holding N.V. to buy 400000 shares at 34 dollars per share. Approximately 52500 shares are odd-lot holdings, all of which will be accepted. Payment slated to begin May 4 with the cash price roughly ten dollars above the current market.
MENTIONED IN THIS ARTICLE
Life Investors
Life Investors Inc
Cedar Rapids
AGO Holding N.V
Netherlands
Theron Thomsen
Ford recalls 1982 Mustangs Capris and Econolines
Ford Motor Co recalls 157 1982 Mustang and Capri models to inspect for driveshaft length that could cause transmission fluid loss and damage. It also recalls 169 1982 Econoline vans with manual 4 speed overdrives for possible transmission gear shift lever malfunctions. Repairs will be free to owners.
MENTIONED IN THIS ARTICLE
Dearborn, Mich
UPI
Ford Motor Co
Robert H. Transon
Ford
Transou
Price Commission Orders Rollbacks and Refunds
A decade ago the Price Commission ordered large scale price reductions and customer refunds totaling hundreds of millions of dollars. The decision aimed to ease consumer burdens and rebalance pricing practices across multiple sectors.
MENTIONED IN THIS ARTICLE
The
Price Commission
De Lorean resumes U S dealer shipments and Belfast plant funding
John Z De Lorean announced immediate resumption of shipments to U S dealers with 600 cars to be sent from processing centers under a 14 million refinancing for 1 191 cars with Consolidated International Sir Kenneth Cook the Belfast plant receiver signed a letter of intent for 35 million in working capital and 1 500 workers remain at the Belfast facility
MENTIONED IN THIS ARTICLE
New York
UPI
John Z. de Lorean
de Lorean
U.S
Consolidated International, Inc
Columbus
Ohio
Kenneth Cook
Belfast
Northern Ireland
Foerstner to retire as Amana chairman succeeding by Meyer
Amana Refrigeration founder and chairman George C. Foerstner will retire May 1. Alex A. Meyer, 51, will become chairman while remaining chief executive. Henry J. Meyer, 55, becomes president and continues as executive vice president. Alex and Henry Meyer are not related. Amana operates plants in Amana Iowa and Fayetteville Tennessee.
MENTIONED IN THIS ARTICLE
AMANA
George C. Foerstner
Amana Refrigeration
Alex A. Meyer
Meyer
Henry J. Meyer
Foerstner
Raytheon Co
Raytheon
Alex Meyer
Henry Meyer
M1 Money Supply Drops as Borrowed Reserves Rise
The M1 money supply fell by 1.9 billion in the latest week while net borrowed reserves in the Fed window rose to 1.5 billion, signaling possible higher short term rates. Bank of New York official William V. Sullivan Jr notes no washout of the April bulge, with business loan demand increasing 683 million for the week.
MENTIONED IN THIS ARTICLE
New York
UPI
Federal Reserve
William V. Sullivan, Jr
Bank of New York
Sullivan
Fed
Gas hike sought by Northern Natural Gas to 10.2 percent
Northern Natural Gas Co. will ask the Federal Energy Regulatory Commission for a 10.2 percent increase in wholesale natural gas rates effective Oct. 27. President Dan Dienstbier said costs rise as the company must reach farther to secure adequate supplies. Mount Vernon and other communities north of Cedar Rapids are served by the firm.
MENTIONED IN THIS ARTICLE
Omaha
UPI
Northern Natural Gas Co
Federal Energy Regulatory Commission
Dan Dienstbier
Mount Vernon
Cedar Rapids
Northern Natural Gas
Also Mentioned on This Page
NYSE
Ralph J. Acampora
Kidder Peabody
Salomon Brothers
Henry Kaufman
Treasury
Tandy
Fort Worth, Texas
Tandy Corp
Radio Shack
Tandy Leathe
Martin Marietta
Jim Supple
Tommy Tucker
Falkland Islands
Middle East
Zurich
London
New York Commodity Exchange
Comex
DeLoreans Coming
Fayetteville
Tenn
A. Meyer
H. Meyer
Tom
Dave
Tom Underwood
Trust Department of Farmers State Bank
Neil Hart
Iowa State University Economics
Iowa Public Broadcasting Television Network
Trust Department
Farmers State Bank
Alburnette+ Hiawatha and Lindale Mall
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