Tech led Nasdaq gains as blue chips slipped on rate fears
Stocks ended mixed with the Dow down 154.19 to 10733.91 while the Nasdaq rose 86.63 to 3860.66 on renewed tech strength led by semiconductors and Intel's new online access machine. Eastern Iowa stocks showed mixed results with RF Micro Devices up and GE down.
MENTIONED IN THIS ARTICLE
Intel
New York Stock Exchange
Iowa
RF Micro
Eastman Chemical
McLeodusa
Brenton Bank
General Electric
National Computer Systems
Wal-Mart
Sprint MCI WorldCom merger approved by major shareholders
Shareholders of MCI WorldCom and Sprint voted to approve a 115 billion merger. About 61 percent of Sprint stock and 63 percent of MCI WorldCom shares backed the deal, which would unite the second and third largest long distance providers and backbone network operators. Regulatory reviews in the US and Europe remain pending.
MENTIONED IN THIS ARTICLE
MCI WorldCom Inc
Sprint Corp
United States
Europe
Sprint
MCI WorldCom
Kansas City
Clinton
Miss
US West reports Q1 profits rise amid wireless growth
US West, the Denver based Baby Bell set to be acquired by Qwest, posted first quarter earnings of 404 million dollars or 79 cents a share, up from 394 million or 78 cents a year earlier. Revenue climbed 6.6 percent to 3.38 billion, driven by a 167 percent surge in wireless revenue.
MENTIONED IN THIS ARTICLE
US West
Wall Street
Baby Bell
Qwest Communications International
Natural gas prices rise on warm weather demand
Natural gas futures on the New York Mercantile Exchange climbed about 3 percent as expectations of a southwestern heat wave boosted electricity demand. June gas futures gained 8.6 cents to 3.141 dollars per thousand cubic feet as other energy prices edged higher.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
United States
Nymex
ReliaStar in Talks for Possible Takeover by ING Group
ReliaStar Financial, eighth-largest public life insurer, confirms it is negotiating a potential takeover. ING Group NV is reported to be near a deal valued up to $5 billion, with ReliaStar revenues around $3 billion in 1999 and prior suitors including General Motors and Wells Fargo.
MENTIONED IN THIS ARTICLE
ReliaStar Financial Corp
Dow Jones News Service
ING Group NV
ReliaStar
General Motors Corp
Wells Fargo & Co
Cedar Rapids firm buys over-the-counter lines from Columbia
Lil Drug Store Products Inc. expands its portfolio by purchasing U S rights to Replens from Columbia Laboratories of Florida and gains exclusive rights to Legatrin PM Legatrin GCM Vaporizer in a Bottle and Diasorb with options to buy. Columbia retains Advantages S. The Cedar Rapids company plans wider distribution in pharmacies and major retailers.
MENTIONED IN THIS ARTICLE
Lil’ Drug Store
Legatrin
U.S
Legatrin PM
Columbia Laboratories
Advantage S
Lil’ Drug Store Products
Jim Nikrant
Cedar Rapids
Lil Drug Store
Nikrant
Lil
Cedar Rapids Company
Chris DeWulf
DeWulf
General Electric Medical Systems
Penford Advances to Build $4.7 Million Research Center
Penford Corp plans a $4.7 million research and applications center in southwest Cedar Rapids, seeking to begin construction June 1 on Second Street SW between 10th and 11th avenues. The project includes at least 10 new jobs and an 80 percent five-year property tax abatement, with state sales tax refunds, as Cedar Rapids aids in business expansion.
MENTIONED IN THIS ARTICLE
Penford Products Co
Second Street
10Th and
11Th Avenues
Cedar Rapids
Jeffrey Cook
Penford
Penford Products
Specialty Starch and Chemical Company
Deere to phase out Dubuque engine work over years
Deere & Co plans to end engine production at the John Deere Works Dubuque plant over three to five years, eliminating about 300 engine jobs through attrition. Workers will shift engine production to Waterloo, Iowa, or Torreon, Mexico, as the plant refocuses on construction equipment and other Dubuque work.
MENTIONED IN THIS ARTICLE
Dubuque
Waterloo
Torreon
Mexico
Jim Theisen
United Auto Workers
Deere
Moline
Ill
Cedar Rapids Career Fair draws thousands to Five Seasons Center
More than 3,000 job seekers expected at the Cedar Rapids Career Fair at the Five Seasons Center. Seminars begin 9 30 a m with sessions on resume writing interview techniques and career planning, featuring speakers from The Humbert Group Cambridge Careers and area firms. Employers number 130 across retail finance transportation education and manufacturing with free admission and resume critique services.
MENTIONED IN THIS ARTICLE
Cedar Rapids Area
Bill Humbert
Humbert Group
Mark Larson
Andrea Geddes
Chuck Roe
Jean Brokaw
Cambridge
Marion
Douglas Elam
Bryans Road
Cedar Rapids
Americans' income outpaces spending in March
In March personal income rose 0.7 percent, aided by wage gains and Census hiring, while consumer spending grew 0.5 percent. The broader economy shows near three decade low unemployment and ongoing growth, suggesting further spending strength.
Japan to require safety tests for biotech foods
Japan will mandate safety tests for foods containing genetically modified ingredients starting next year, aiming to screen domestic and imported products. Officials say overseas producers already test voluntarily, and the policy should not disrupt imports, given Japan's heavy reliance on U S soybeans and corn.
MENTIONED IN THIS ARTICLE
Tokyo
Japan
Health Ministry
United States
Noriko Iseki
Ministry of Health and Welfare
Also Mentioned on This Page
US West Wireless
BizFacts
Brave New Food
Argentina
Australia
C.R
George C. Ford
Electronic
Kmart
First St. SW
Cook
Joe Drahozal
Area Chamber of Commerce
Priority One
Kirkwood Community College
the Gazette
Kcrg-Tv9
The
Gazette
Washington
Richard
Yamarone
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