Stocks edge higher as oil hits fresh record intraday high
Wall Street closed mixed as oil prices surged to an intraday peak of 62.30 while industrial activity data beat estimates. The Dow slipped 17.76 to 10,623.15 and the Nasdaq rose 10.55 to 2,195.38 as advancers outpaced decliners about 9 to 7 on the NYSE.
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Wall Street
New York Mercantile Exchange
New York Stock Exchange
Iowa City Area Chamber Names Interim President
The Iowa City Area Chamber of Commerce named Maggie Grosvenor Mowery of The LG Group as interim president after James Griffin’s resignation, with a plan to hire a new president and form a task force. Board approval includes facilitating nominations and board communications. More than 150,000 Kawasaki Prairie and Brute Force ATVs from 2001 to 2005 are recalled for steering-control defects. CPSC notes three injury reports and urges stop-use and dealer repair.
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Iowa City
Mowery
Chamber
Kawasaki Motors Corp
Consumer Product Safety Commission
CPSC
Irvine
Calif
Principal Financial earnings jump in second quarter
Principal Financial Group Inc reported quarterly net income of 238.9 million dollars or 82 cents a share, up from 119.7 million or 37 cents, as revenues rose 7 percent to 2.2 billion dollars. Strong retirement and investment product sales supported the results matching analyst expectations.
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Principal Financial Group Inc
Mid-America index shows July rise in outlook and prices
The Mid-America regional index increased to 59.7 in July, with the prices-paid index up to 60.9. Creighton economists say high oil prices sustain input costs while job growth improves, forecast Iowa gains through 2005 and overall regional confidence climbs to 61.5 despite a slight July dip in the employment index.
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Omaha
Neb
Mid- America
Creighton University
Ernie Goss
Institute For Supply Management
The
Purchasing Management Association
Creighton Economic Forecasting Group
Goss
Manufacturing activity grows in July while construction slows
Private ISM data show manufacturing expanding for the 26th straight month with its index at 56.6 in July, led by strong auto sales and higher new orders. Construction spending declined 0.3 percent in June, though total project value remained around 1.1 trillion dollars. experts expect momentum to ease in the second half.
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New York
Institute For Supply Management
Commerce Department
Vitner
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Rockwell Collins to supply avionics for new Army helicopter
Cedar Rapids firm Rockwell Collins joins Bell Helicopter in producing the armed reconnaissance helicopter for the U S Army. The initial 210.7 million development contract plus a 2.2 billion order for 368 aircraft positions Bell to lead the program, with Fort Worth handling most work and deliveries starting in 2008. Rockwell Collins will provide the Common Avionics Architecture System and other avionics and engine control components, with Lockheed Martin and FLIR Systems as subcontractors.
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Ine Gazette
Cedar Rapids
Rockwell Collins
Bell Helicopter
Bell
Boeing
U.S. Army
Fort Worth
Texas
Lockheed Martin
Flir Systems
Bell 407
Rain Shortfall Eases But Iowa Crops Still Need More
Recent rains helped Iowa crops but drought stress remains. The Iowa Crops and Weather report shows a weekly rainfall average of 1.39 inches, above normal, yet soil moisture remains depleted in many areas and August rains are critical for soybeans. Topsoil moisture improved to mostly adequate levels, while corn and soybean conditions show mixed results with several percent in poor to fair categories and ongoing need for moisture through the rest of the growing season.
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the Gazette
Iowa
Iowa Crops & Weather Report
Iowa Agricultural Statistics
Jim Fawcett
Iowa State University
Iowa City
Benton County
Fawcett
P and G eyes Gillette add to build brands
Procter and Gamble aims to expand its brands and global reach with the pending 57 billion Gillette acquisition. Lafley says the merger will boost capability as P G reports a fourth quarter profit of 1.5 billion and 14.26 billion in sales. The deal will add Gillette razors and Duracell to P G's lineup and Oral B plants operate in Iowa City.
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Cincinnati
A.G. Lafley
Procter & Gamble Co
Gillette Co
Lafley
P&G’s
Consumer Products
P&g
Thomson Financial Organic
Gillette
Crest
Oral B Laboratories
Iowa City
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