Wall Street rebounds as earnings ease fears
Investors return to stocks after a midday rally led by financials and tech amid better than expected retail earnings and housing data. The Dow rose 82.60 to 9217.94, S&P 500 up 9.94 to 989.67, Nasdaq up 25.08 to 1955.92, following Monday’s 186 point drop.
MENTIONED IN THIS ARTICLE
U.S
Standard & Poor
Tesla to Open Palo Alto Plant and HQ by 2011
Tesla Motors plans a three building facility at Stanford Research Park in Palo Alto to produce powertrain components and parts for other automakers. The site will house corporate offices and create about 350 jobs with room for 650, targeting more mainstream EVs including the Model S. Production is set to begin in 2011.
MENTIONED IN THIS ARTICLE
Tesla Motors
Palo Alto
Calif
Stanford Research Park
Tesla
Cargill reports 69 percent quarterly profit drop amid demand slump
Cargill Inc announces fourth quarter earnings of 327 million dollars, down 69 percent as global recession curbs demand for food and fertilizer. Full year earnings fall 16 percent to 3.33 billion, with revenues at 116.6 billion and cash flow from operations down 6 percent. Chairman Greg Page calls the year a tale of two halves.
MENTIONED IN THIS ARTICLE
Cargill Inc
Cargill
Cedar Rapids
Greg Page
Miell rental firm faces Chapter 7 liquidation bid
Government and Heritage Bank seek converting Elite Properties of Iowa and Miell's Chapter 11 into Chapter 7. They allege unpaid real estate taxes, about 80 thousand dollars due Sept 30, and uninsured properties. Lenders accuse trustee Hanrahan of mismanagement and job cuts raised costs as liens and occupancy data remain unclear.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Cedar Rapids
Robert Miell
U.S
Miell
Luana Savings Bank
Heritage
Elite Properties
Iowa
Tion
Renee Hanrahan
Airport upgrades planned for Cedar Rapids terminal
Travelers at The Eastern Iowa Airport report renovations in the C Concourse with new carpeting ceiling tiles gate podiums seating and restrooms. A future remodel will expand ticket counter space and relocate smaller TSA screening units funded by state grants and passenger facility charges over the next six to twelve months.
MENTIONED IN THIS ARTICLE
Dan Mann
Cedar Rapids
Mann
American
United
Delta
Allegiant
Liz Martin
the Gazette
Iowa
No inflation as prices fall in July
U S wholesale prices sank 0.9 percent in July. Over the past year prices fell 6.8 percent, the largest annual drop since 1947, driven mainly by energy. Economists say inflation remains tame with room for easy monetary policy.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Brian Bethune
U.S
IHS Global Insight
Joel Naroff
Naroff Economic Advisors
Labor Department
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Wall Street
Heritage Bank of
Marion
Hanrahan
David. Dewitte
Gazcomm.com
George C. Ford
Edar Rapids
George
Ford
Cedar Landing
Commerce Expo
Cliff Jette