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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 21, 2003
Page
16
Wall Street edges lower as Hewlett Packard miss drags stocks while optimism for economic recovery persists. Dow closes down 31.39 at 9397.51, Nasdaq at 1760.54, S&P 500 at 1000.30 with volume 1.20 billion. HP drops 2.31 to 19.80, a 10.5 percent slide.
Dillard's Inc reports a second quarter loss of 50.4 million dollars 60 cents per share reflecting a 5 percent drop in sales and costs from debt and store closures. The Little Rock retailer discounted merchandise to reduce glut as same store sales declined.
Thieves targeted SUVs in a 2000 2002 study funded by auto insurers. Seven Escalades were stolen from a Lone Tree Colorado dealership last November, making the Escalade the top targeted model with high claims and losses. Other vehicles in the top 10 included the Dodge Stratus Jeep Wrangler Lincoln Navigator Dodge Ram Ford Expedition and Chrysler Sebring.
Iowa City store owner Doug Alberhasky reveals that John's Grocery now sells over 300 glass styles to accompany 625 beer varieties. The showroom grew after moving to behind the store and launching johnsgrocery.com, expanding online marketing to a broader, mainly male, 25 to 35, international clientele. The shop gains industry recognition as All About Beer Magazine plans a notable retailers listing.
Pfizer for Living Share Card offers eligible patients a 30 day supply of most Pfizer medicines for 15 dollars a month. Enrollment targets low income seniors and disabled individuals on Medicare with limited or no drug coverage.
The FDA approved Levitra from Bayer AG and GlaxoSmithKline, a second pill for erectile dysfunction. It targets the same enzyme as Viagra and promises competition in a billion-dollar market. Cialis also awaits U.S. release after European approval.
Flexsteel Industries launched a cash tender offer at 3.30 a share for DMI Furniture Inc. valued up to 14.19 million, with 4.3 million shares outstanding. The deal, announced after a plan to acquire DMI, aims to expand product lines and is expected to close in September. Flexsteel forecast 400 million in annual sales for the combined company.
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