Stocks fall on HP results and higher oil prices
Oil rose past 45 dollars a barrel while Hewlett Packard’s disappointing earnings sent major indexes down. The Dow dropped about 124 points to 9814.59 and the Nasdaq slid 29.93 to 1752.49 as investors priced in potential Fed tightening. Target reported a strong quarter with 1.42 billion in net income and Marshall Field's sale boosted profits. Qwest planned a 500 million bond sale to refinance 17 billion in debt after a quarterly loss.
MENTIONED IN THIS ARTICLE
Hewlett-Packard Co
Dow
New York Mercantile Exchange
Federal Reserve
Dow Jones
New York Stock Exchange
Qwest Communications International Inc
Harvest forecasts show record corn and strong yields
USDA projections indicate Iowa corn at 1.98 billion bushels with 162 bushels per acre and national corn at 10.9 billion. Soybeans rise to 435 million with 42 bushels per acre, while wheat totals reach 2.1 billion. Prices for corn and soybeans are lowered by 25 to 30 cents.
MENTIONED IN THIS ARTICLE
The
Gazette and
Associated Press
Iowa
Nation
Agriculture Department
Department
USDA
Corn Belt
Great Plains
Midwest
Mortgage Rates Fall to Four Month Low on Freddie Mac Report
Freddie Mac reports 30 year fixed rates at 5.85 percent for the week, down from 5.99 percent last week and the lowest since early April. The 15 year fixed rate slipped to 5.24 percent, from 5.40 percent, while the one year adjustable rate held at 4.08 percent.
MENTIONED IN THIS ARTICLE
Freddie Mac
Gazette
News Service
Oil prices climb past forty five dollars a barrel
Oil futures rose to 45.50 a barrel amid geopolitical risk in Iraq and Russia. Traders cited weak spare capacity and storms in the Gulf of Mexico while Saudi production hints offered limited relief.
MENTIONED IN THIS ARTICLE
Washington
New York Mercantile Exchange
Iraq
Russia
Yukos
Gulf of Mexico
Saudi Arabia
AEGON reports higher bond losses and weak life sales
Dutch insurer AEGON posted a second quarter net income of 533 million dollars, 34 cents per share, with revenue of 8.33 billion. Bond defaults totaled 87 million, down from 134 million a year ago, but new life sales in the domestic market fell 24 percent to 51 million euros. Share price closed at 10.41, down 53 cents.
MENTIONED IN THIS ARTICLE
Target Corp
Marshall Field’s
May Department Store Co
Sessed Air
Gillette Co
Skyworks Solution
Tanger Factory
Heartland
Kohls Corp
Unova Inc
Lengun Filema
Verizon
George C. Ford
AEGON
Aegon USA
Cedar Rapids
New Life
New York Stock Exchange
Also Mentioned on This Page
Nasdaq
Marshall Field
Qwest
Steve Hammack
U.S
National Agricultural Statistics
Vice Gazette Graphic
Scityune
Iowa City
AP Stockquote
Local
Duane Crock
Shirley Peiffer
Langworthy
Center Point
Peiffer
Dawn McElmeel
Sereross
Donald Shepard
Tet Mit Ge
Colortyme.com
Pat Sumner
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