Wall Street Surges as Dow Rises Nearly 4 Percent
The Dow advanced 3.9 percent to 11,143.31 amid a volatile week. The S&P 500 climbed 51.88 to 1,172.64 and the Nasdaq gained 111.63 to 2,492.68 as traders reacted to ongoing economic news.
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 12, 2011
Page
10
The Dow advanced 3.9 percent to 11,143.31 amid a volatile week. The S&P 500 climbed 51.88 to 1,172.64 and the Nasdaq gained 111.63 to 2,492.68 as traders reacted to ongoing economic news.
Dutch insurer AEGON NV parent of Transamerica with major Cedar Rapids operations posted a 2 percent fall in second quarter net income to 574.8 million dollars for the quarter ended June 30. Earnings per share stood at 33 cents with 1.76 billion shares outstanding as CEO Alex Wynndts cites a weak dollar among factors.
Nordstrom Inc with Cedar Rapids operations reports a 20 percent rise in profits for the second quarter as wealthy shoppers resume spending and the company lifts its full year profit outlook.
Simon Property Group co-owns Lindale Mall and promotes new smartphone apps while Hammerson tracks visitors via mobile signals. Westfield has a virtual mall for Australia and New Zealand with a price tool, aiming to convert traffic into sales amid online competition.
Verizon says some Iowa employees may have been assigned to help during the East Coast strike but officials could not confirm how many if any are from Iowa. Local president Scott Rentschler says Iowa workers heard of extra hours though the union does not represent Verizon in Iowa. The Cedar Rapids MCI core was taken over after bankruptcy and a nearby call center shut in 2006.
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