Stocks slide on weak GDP and earnings show
The Dow fell 128.43 to 10,070.37 and the Nasdaq declined 26.25 to 1,904.18 as GDP disappointed investors despite Procter & Gamble results. IRS said 66 million returns were filed electronically this year, up 10.7 percent. Atico recall of 1.5 million kids chairs due to fingertip injuries. refunds offered.
MENTIONED IN THIS ARTICLE
Procter & Gamble Co
Bryant Piskorowski
Wachovia Securities
New York Stock Exchange
Internal Revenue Service
IRS
East Iowa
Maytag
APAC
Aegon NV
McLeod USA
Alcoa Inc
McLeod USA A
Alliant Energy
Mestek
Arch Dan Mid
Nash Finch
Pearson PLC
Bandag Inc
Caseys Gen Store
Featherlite Inc
Regions Fact New
Fiserv
Rockwell Collins
Gen Mills
Saks Inc
Gillette Co Sealed Air
HM Corp
Skyworks Solution
Heartland Exp
Tanger Factory
Heinz
Terex Cp
ING Glob RE Inc
Toyota Mot
Old Fire Cas
Intl Paper
Keane Inc
US Bancorp
Kohls Corp
US Cellular
Longon File
Unova Inc
Verizon Comm
WalMart
MCI Inc
Marsh & McLennan
Wells Fargo & Co
Weyerhauser
Alliant Energy posts sharp quarterly loss amid China ventures
Alliant Energy reports a first quarter loss of 2.4 million or 2 cents a share as rising coal costs and weak China operations weigh on profits. Core U.S. utilities show growth with continuing operations at 11.6 million or 10 cents per share, while China ventures suffer a 15 cent per share loss.
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Gazette Alliant Energy
China
Madison
Ings
Alliant
Erroll Davis
U.S
Davis
New York Stock Exchange
China Ventures
China Oper
Cedar Rapids
Exxon
China Petroleum and Chemical Corp
Harkin urges NASCAR to switch to ethanol fuel
Sen Tom Harkin and the Senate Biofuels Caucus press NASCAR CEO Brian France to fuel race cars with ethanol. The drive cites benefits to fans and local economies, energy security and reduced oil dependence. Hawkeye Downs Speedway in Cedar Rapids considers ethanol adoption for cost savings.
MENTIONED IN THIS ARTICLE
the Gazette
Scott Strauss
Cedar Rapids
Hawkeye Downs Speedway
Tom Harkin
Senate
Biofuels Caucus
Nascar
Brian France
Indy Racing League
Jim Amstutz
Mortgage rates dip for fourth straight week
Freddie Mac reports 30 year rates at 5.78 percent this week down from 5.80. The 15 year fixed rate falls to 5.33 percent from 5.386 and the one year adjustable drops to 4.21 percent from 4.26. Market slowdown evidence eases inflation fears for bond investors.
MENTIONED IN THIS ARTICLE
Freddie Mac
Gazette
Economy slows in first 2005 quarter amid high energy costs
U S GDP grew at 3.1 percent annual pace in January to March 2005, down from 3.8 percent, marking the slowest quarter since 2003 as energy prices squeezed consumer and business spending. Household outlays rose 3.5 percent, while business equipment and software investment climbed 6.9 percent and plant construction fell. Oil prices peaked around March and eased to about 50 dollars per barrel.
MENTIONED IN THIS ARTICLE
Washington
Eco
Commerce Department
United States
Mark Zandi
Economy.com
GDP shows 3.1 percent Q1 growth tempers hopes
The gross domestic product rose 3.1 percent in the first quarter indicating temporary momentum. Economists warn the gain may not drive hiring soon and call it insufficient for meaningful progress. Ken Mayland of ClearView Economics voices caution about the outlook.
MENTIONED IN THIS ARTICLE
United States
Ken Mayland
ClearView Economics
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P G earnings rise on volume gains and pricing
Procter & Gamble reports fiscal third quarter net income of 1.72 billion dollars or 63 cents per share, up from 1.53 billion or 55 cents. Sales climb 10 percent to 14.29 billion with a 1 percent price lift driven by commodities offset.
MENTIONED IN THIS ARTICLE
Cincinnati
Procter & Gamble Co
Thomson Financial
P&g
A.G. la
Energy firms post strong first quarter profits across majors
Exxon Mobil reported first quarter profit of 7.86 billion dollars up 44 percent as oil and gas prices boosted earnings. Shell and Marathon Oil also posted higher profits amid lower production while BP rose 35 percent. Exxon revenue rose to 82.05 billion dollars. Shell earned 6.67 billion and Marathon 324 million.
MENTIONED IN THIS ARTICLE
Dallas
Exxon Mobil Corp
Royal Dutch/Shell Group of
Cos
Marathon Oil Co
BP PLC
Exxon
Royal Dutch Shell
Marathon
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Nasdaq
Florida
Consumer Product Safety Commission
Atico International USA Inc
Fort Lauderdale
Atico
Aticousa.com
By Dave DeWitte
Harkin
By Marlene Lucas
America
C Lown
Amstutz
Hawkeye Downs
Marlene.lucas
Gazettecommunications.com
Allianz
Eliot Protsch
Wisconsin Power & Light
Kewaunee
Iowa City
AP Stockquote
Local
Department of Commerce
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