Dow slides as tech shares weigh markets and Gateway cuts Irish jobs
The Dow falls 165.24 points to 10,293.50, the Nasdaq drops 3 percent to 1966.36 as Cisco and a weak Fed report dampen sentiment. Gateway Inc. confirms closing its European HQ in Dublin with 850 layoffs, while Global Airlines proposes an $2.01 billion bid for US Airways.
MENTIONED IN THIS ARTICLE
Cisco Systems
Federal Reserve
Dow
New York Stock Exchange
Iowa
Fiserv
General Electric
Weyerhaeuser
U.S. Cellular
U.S
Gateway Inc
Dublin
Ireland
Gateway
Britain
Mike Maloney
Donna Rather
San Diego
U.K
US Airways
Global Airlines Corp
Trans World Airlines
United Airlines
Global Airlines
Emil Bernard
US Airways Express
Lands' End posts sharp second quarter profit beat
Lands' End shares rose nearly 9 percent before moderating to a 5 percent gain after the catalog retailer reported a Q2 profit of 3.04 million or 10 cents a share on revenue of 285.8 million. The Dodgeville, Wisconsin company had a year-ago loss of 1.9 million.
MENTIONED IN THIS ARTICLE
Lands’ End
Dodgeville
Wis
First Call
Nasdaq Revises June 29 Highs and Lows for Many Stocks
Nasdaq corrects high prices for 111 stocks and low prices for 81 stocks from June 29 after a trading outage. Adjustments may affect 52 week highs and lows for issuers Veritas Software and Miravant Medical Technologies among others. Full listing available at NasdaqTrader.com.
MENTIONED IN THIS ARTICLE
Veritas Software
Miravant Medical Technologies
Nasdaqtrader.com
Ten Year Treasury Note Yield Drops to Six Month Low
Yields on 10 year Treasury notes fell to 5.078 percent in Wednesday's auction, the lowest since February 7. The 5 percent coupon notes sold with a $9,939.40 price for each $10,000 face value, with $11 billion sold from $31.4 billion in bids.
MENTIONED IN THIS ARTICLE
Treasury
First Hilton Garden Inn Planned for Corridor at Wright Brothers
Cedar Rapids news notes a new eight acre Airport Gateway Center development along I 380 Wright Brothers Boulevard featuring a Hilton Garden Inn with 150 rooms, a McDonald’s, and a HandiMart with car wash. Nordstrom Oil Co plans a HandiMart first phase this year with total project cost around 15 million. Nordy’s Inc. will develop the site.
MENTIONED IN THIS ARTICLE
David Nordstrom
Amana Nordstrom Joins Hilton Garden Inn Cedar Rapids Project
Hilton Garden Inn Cedar Rapids will target business travelers with enhanced mid price amenities and glass walled lobby. Development by Amana Nordstrom Inc a joint venture of Amana Society and Nordstrom Oil Co plans a 5000 square foot meeting space and a freestanding restaurant. Open 2003 with access via America Drive SW Runway Court SW and Sixth Street SW. McDonalds plans a restaurant on nearby lot with second lot to other operators.
MENTIONED IN THIS ARTICLE
Hilton
Amana Nordstrom Inc
Amana Society
Nordstrom Oil Co
Holiday Inn Amana
I-80
Collins Road
33Rd Avenue
Hilton Garden Inns
Cedar Rapids
Nordstrom
America Drive
Sixth Street
Runway Court
McDonald’s
Nordstrom Oil expands HandiMarts in Cedar Rapids area
Nordstrom Oil Co announces opening of a new HandiMart at 1380 North Liberty exit on I 380 with a Blimpies sub shop. Work begins this year on Vernon Village HandiMart expansion at 3349 Mount Vernon Rd SE doubling pumps and adding fast food.
MENTIONED IN THIS ARTICLE
Mount Vernon Rd
Nordstrom
Mount Vernon Road
Vernon Village
U.S. 151
State fair adds heavy pigeon hunt and sharks display at Iowa fair
The 143rd Iowa State Fair opens with new attractions including a heaviest pigeon contest and a live shark encounter near the north gate. Six sharks in a 9,000 gallon tank greet visitors while a robotic great white attracts attention. The fairgrounds host a remodeled Varied Industries building and a $47 million upgrade funded by state and private resources. Admission is seven dollars for adults and four for children, with a two dollar advance ticket discount offered at Hy Vee and DrugTown. Officials hope cooler weather sustains attendance beyond the August 19 close.
MENTIONED IN THIS ARTICLE
Gazette
Des Moines Bureau
DES Moines
Kathie Swift
Swift
PepsiCo forms unified beverages and snacks units after merger
PepsiCo announces organizational overhauls after completing a 13.6 billion deal to acquire Quaker Oats. The plan creates PepsiCo Beverages International to oversee international drink brands and Frito-Lay International for snacks outside North America, with leadership by Peter M. Thompson and a boosted distribution via Quaker warehousing.
MENTIONED IN THIS ARTICLE
Reinemund
PepsiCo
Quaker
PepsiCo Beverages International
Peter M. Thompson
Pepsi-Cola International
Pepsi- Co
Frito-Lay
Quaker Snacks
North America
Frito-Lay International
Plano
Texas
McLeodUSA and Prodigy Expand Internet Network Pact
McLeodUSA Inc signs a three year multi million dollar agreement to renew and expand dial up services for Prodigy Communications outside the SBC region. Prodigy will use McLeodUSA for dial and roaming DSL customers as its preferred provider.
MENTIONED IN THIS ARTICLE
Prodigy
McLeodusa
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Cisco
Uly
Djia
Treasury Note
BizFact
KAT
Cerulli Associ
Hilton Garden Inn
Nordy’s Inc
Hilton Corp
Airport Gateway Center
Hilton Garden
Wright Bros. Blvd
Eastern
Haindi Mart
Gazette Map
Drew McDaniel
Penn Street
North Liberty
N. Liberty
C.r.’S
By Dave DeWitte
By Rod Boshart
Europe
Rod Boshart
Infi
Steve Hobbs
The
New York
PepsiCo Inc
Quaker Oats Co
Purchase
N.Y
Steve
Bryce Nemitz
Nyse Index
Biotech Computer
Finance
Indust
Insurance
Telecom
Associated
Sprintpcs
LucentTech
Cooperin
EMC Corp
Sprint
American Stock Exchange
Sun
Oracle
DOW Jones
Indus
Er & Poor’s Indust
Santa Monica
Calif
Findex
Fine Point
P.O
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