Tech stocks lift Nasdaq and Dow on strong earnings
Bargain-hunting investors boosted technology shares Tuesday as earnings beat expectations. The Nasdaq gained 228.75 to 3711.23, the Dow rose 218.72 to 11124.82, and the S&P 500 added 47.58 to 1477.44. Volume reached 1.28 billion on the NYSE with 37 Eastern Iowa stocks higher. RF Micro Devices, Fiserv, GE, Conexant, Sealed Air, McLeodUSA, and National Computer Systems posted gains while Procter & Gamble fell 6% on soft earnings.
MENTIONED IN THIS ARTICLE
Standard & Poor
Iowa
Fiserv
General Electric
Conexant
Sealed Air
McLeodusa
National Computer Systems
Procter & Gamble
McLeodUSA announces three-for-one stock split
McLeodUSA Inc plans a three for one stock split for shareholders of record at the close of trading April 4. The Cedar Rapids provider announced the split on Feb 29 and said two additional shares will be issued for each share held. This is the companys second split in 11 months.
MENTIONED IN THIS ARTICLE
McLeodusa Inc
Cedar Rapids
McLeodusa
Surprise $6.2 Billion Cash and Stock Bid Shocks Champion
International Paper made a surprise takeover offer valuing Champion International at 62.59 a share, offering 43 in cash and 19.59 in IP stock. The move tops UPM-Kymmene's 55.47 share value and could prompt a rethink of Champion's deal with the Finnish firm.
MENTIONED IN THIS ARTICLE
New York
Champion International Corp
International Paper Co
Champion
Upm-Kymmene
UPM
Frances Loo
Warburg Dillon Read
International Paper
Evergreen Packaging Equipment
Cedar Rapids
Leo
U.S
Richard Olson
John Dillon
Washington bed and dinner business headline
Dean Greiner of Washington Iowa offers supper and slumber replacing breakfast with a dinner option at The Captain's Table Cove and Captain's Loft. Two rooms rent for $50 nightly aiming to attract business travelers with a twist on traditional bed and breakfasts.
MENTIONED IN THIS ARTICLE
Gazette
Kristophere’ Owens
Dean Greiner
Washington
Cove
Washington Business
West Chester
Greiner
The Captain's Loft Opens Rooms With Historical Theme
The Captain's Loft offers reservations with 25 staff. The upstairs space, once storage, now hosts themed rooms like American Ranch of England. Contractors finish renovations while architecturally rich features such as French doors and woodwork are visible. For details call 319 653 3402.
MENTIONED IN THIS ARTICLE
Brighton
Greiner
Consumer confidence slips and home sales rise
The Conference Board reports the Consumer Confidence Index fell to 136.9 in April from 137.1, the third straight decline, while existing single family home sales rose 1.5 percent to a 4.83 million annual rate. Analysts caution about inflation and Fed rate moves, yet optimism persists about six month prospects.
MENTIONED IN THIS ARTICLE
New York
U.S
Federal Reserve
Conference Board
Wall Street
Lynn Franco
Dennis Cronk
Association
Major share of farm subsidies paid to small group
An Environmental Working Group analysis of 1996 to 1998 Agriculture Department records finds more than half of nearly 23 billion dollars in federal farm subsidies went to 10 percent of recipients, averaging 95 875 dollars per person while 90 percent averaged 6941 dollars. The report cites extreme concentration in southern states with Mississippi showing 10 percent receiving 83 percent of subsidies and two farms each receiving over 5 million dollars. The group urges lower payment limits to help smaller producers.
MENTIONED IN THIS ARTICLE
Washington
Agriculture Department
Environmental Working Group
Congress
Mississippi
Sycamore Mall Sold to Iowa City Developers for 4.5 Million
Four Iowa City developers in MGD L.C. bought Sycamore Mall from Woodmen of the World Life Insurance Society in a sealed bid auction. The 240000 square foot complex on 22 acres, including Sears and Randall’s space, was assessed at 5.5 million as of January 1999.
MENTIONED IN THIS ARTICLE
MGD L.C
Gerry Ambrose
Greg Apel
Mike Hodge
Dean Oakes
Randall’s
Sears
Board of Adjustment
MGD
Woodmen of the World Life Insurance Society
Johnson County
First Dearborn Sycamore Associates of
Chicago
Also Mentioned on This Page
P&g
I.C
Jcpenney
Old Capitol Town Center
Iowa City Press Citizen
Don Rhoades
Rhoades
BizFacts
Latin America Online
Paper Company
Purchase
N.Y
Stamford
Conn
Dillon
Clinton
By Kristophere’ Owens
Arkansas
Sycamore
I.C. Mall
Adam Lowenstein
Welter
E Furniture
Blasberry
Monticello
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