Stocks Slip After Gains As Dow, Nasdaq Retreat
Wall Street ended modestly lower after a session of profit taking amid weak earnings. The Dow fell 77.89 to 10454.34 and the Nasdaq declined 42.71 to 2016.61, with 22 gainers and 22 losers among Eastern Iowa stocks. Archer Daniels Midland’s third quarter earnings slipped about 10 percent, missing estimates, due to higher energy costs. ADM earned 15 cents a share on $5.13 billion in sales, versus 16 cents and $4.47 billion a year ago.
MENTIONED IN THIS ARTICLE
Steven Goldman
Weeden & Co
New York Stock Exchange
Iowa
Penford
Quaker Oats
Kohl’s
Wal-Mart
Procter & Gamble
General Electric
Archer Daniels Midland Co
ADM
Thomson Financial
First Call
Decatur
Cedar Rapids
Financi
Indust Insurance
Telecom
Transport
Associated Press
New York
LucentTech
WikmsCom
Compaq
EMC Corp
GenlElec
American Stock Exchange
Cisco
JOS Union
DellCotr
Oracle
Intels
Standard & Poor's Industranes
Ent
Transat
idCap
SmallCap
Santa Monica
Calif
Wilshire Associates
Qwest profits drop 9 percent in first quarter
Qwest Communications International reports a 9 percent fall in first quarter profit to 218 million dollars or 13 cents a share, from 239 million dollars or 14 cents. Revenue rises 11.8 percent to 5.05 billion dollars, with pro forma adjustments for divested operations and merger-related charges. Qwest remains the dominant local phone firm in Iowa after buying US West.
MENTIONED IN THIS ARTICLE
Qwest Communications International
Wall Street
Qwest
AT&T Misses First Quarter Estimates on ExciteAtHome Loss
AT&T posting a 373 million quarter loss driven by a 739 million charge tied to its stake in Excite At Home. Excluding investment shocks, operating earnings reached 6 cents per share, beating most forecasts as sales rose to 16.76 billion.
MENTIONED IN THIS ARTICLE
At&t Corp
At&t
Wall Street
Thomson Financial
First Call
Quaker Oats Pump Room Workers Likely Move to Enron
Cedar Rapids seven energy management pump room employees face transfer to Enron on June 1 as Quaker Oats and Enron finalize an energy management agreement. Union leaders say the transfer was negotiated before contract talks and fear two classes of workers with weekend work without premium pay. The seven will keep service credits and comparable wages and benefits, with potential reemployment at Quaker.
MENTIONED IN THIS ARTICLE
George C. Ford
Cedar Rapids
Quaker Oats Co
Quaker Oats
Joe Ironside
Machinists Local 831
Enron Corp
Houston
Texas
Enron
Dan Wombold
Quaker
Machinists
Wombold
Ironside
Marion plant sold moves to Iowa City despite sale
Chesapeake Corp sells the Marion display and packaging plant to CorFlex Graphics LLC of Statesville North Carolina. The move to Iowa City will begin in early May with operations at the Marion site continuing through June. Procter & Gamble remains the plant’s major customer.
MENTIONED IN THIS ARTICLE
Chesapeake Display and Packaging
Marion
Chesapeake Corp
Richmond
CorFlex Graphics LLC
Statesville
N.C
Iowa City
Chesapeake
U.S
ComFlex
Procter & Gamble
Todd Peterson
Exposure to biotech corn judged less risky by EPA
EPA said new research on StarLink biotech corn shows consumer exposure was significantly lower than thought as digestion destroyed much of the Cry9C protein. Aventis CropScience noted the corn poses no health risk, though trace amounts may appear in foods for years. The agency will review the findings while awaiting illness reports and possible recalls.
MENTIONED IN THIS ARTICLE
Washington
Environmental Protection Agency
StarLink Corn
Aventis CropScience
EPA
Aventis
Star- Link
Incomes outpace inflation across all states in 2000
Americans' incomes rose faster than inflation in 2000 in every state. Colorado saw the fastest gain at 10.8 percent, while Alabama rose only 4.0 percent. National average income reached $29,676, up 7.3 percent from 1999, with service jobs and high tech manufacturing driving the gains. Connecticut led per capita income at $40,640, while Mississippi remained the lowest at $20,993. Inflation rose 2.4 percent for the year.
MENTIONED IN THIS ARTICLE
Washington
Colorado
Alabama
America
Commerce Department
California
Massachusetts
New Hampshire
Idaho
Mississippi
Louisiana
Connecticut
Also Mentioned on This Page
Djia
BizFacts
Nec
Essure
Motoman Robotics
Hanover
Germany
Peterson
Scott 6
Russ Gerdin
Corr Flex
Thomas Johnson
CorrFlex Graphics LLC
Southland Packaging & Promotions
Bostic Packaging
Cor-Box
Consolidated Packaging
CorrFlex Packaging LLC
Georgia
Illinois
Michigan
North Carolina
Pennsylvania
ViVie Ee
Eee
Ela Te el EL Ered Fateh
Nyse Index
Nasdaq Index
AMEX
Jerry K. Ask Investment Services OF
Chestnut Ridge Cr. N.E
Garagi
42Nd St. NE
Morelle Re
Primus
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