Stocks mixed as banks, pharma slide while tech edges higher
Turbulent trading left the Dow down 37.74 at 11215.10 and the Nasdaq up 11.58 at 4082.17. Eastern Iowa stocks showed 14 gains, 26 losses, seven unchanged as RF Micro Devices gained, while U S Cellular and Quaker Oats slid. Soybeans surged about 3 percent on heat and weak yield expectations. Intel halted shipments of its 1.13 GHz chip over a global glitch, recall underway with two months to fix, as AMD unveiled its 1.1 GHz chip.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Iowa
Fiserv
Maytag
U.S. Cellular
Quaker Oats
McLeodusa
Delta
Midwest
Department of Agriculture
Intel Corp
Santa Clara
Beermann
Intel
AMD
June Delays Mark Poor On Time Flights Across U S
Transportation data show a miserable June with a 66.3 percent on time arrival rate down from 74.3 percent in May and 70.9 percent in June 1999. United Airlines posted the worst on time performance amid a pilot dispute that has since been settled.
MENTIONED IN THIS ARTICLE
Transportation Department
Department’s
Bureau of Transportation Statistics
Federal Aviation Administration
United Airlines
United
Treasury bills auction shows rate drop to six month low
The 52 week bill discount rate fell to 5.880 percent from 6.000 percent, yielding an equivalent coupon of 6.241 percent. Bills priced at 9,405.50 for 10,000 face value, with $10 billion sold from $23.4 billion bids.
MENTIONED IN THIS ARTICLE
Treasury
Giants back Linux create multi million lab near Portland
IBM Intel Hewlett Packard NEC join to fund Open Source Development Lab enabling Linux testing on enterprise hardware. Dell Red Hat Turbolinux Linuxcare VA Linux and SGI back the project as sponsors with a nonprofit body to run the lab and manage access. The facility aims to unify hardware from multiple vendors and support large scale clusters.
MENTIONED IN THIS ARTICLE
Portland
Ore
Open Source Development Lab
Brian Behlendorf
Apache
Irving Wladawsky-Berger
IBM
Linux Group
Red Hat Inc
Turbolinux Inc
Linuxcare Inc
VA Linux Systems Inc
Dell Computer Corp
Silicon Graphics Inc
Penford to buy Australian starch maker for 58 million
Penford Corp plans to acquire Starch Australasia Ltd from Goodman Fielder for about 58 million in cash. The deal should close by Sept 29 and adds a plant base to serve the Asian paper market with specialty carbohydrate ingredients for food, paper, and textile customers.
MENTIONED IN THIS ARTICLE
George C. Ford
Penford Products Co
Cedar Rapids
Penford Corp
Bellevue
Wash
Starch Australasia Ltd
Goodman Fielder Ltd
Starch
Australasia
Australia
Starch Australasia
Penford
Penford Products
First St. SW
Government forces divestiture in radio broadcaster merger
The Justice Department approved the 23.8 billion Clear Channel AMFM merger after a consent plan to divest 99 stations in 27 markets. The latest agreement requires 14 remaining station divestitures within 156 days to satisfy antitrust concerns and protect ad buyers.
MENTIONED IN THIS ARTICLE
Washington
Justice Department
Clear Channel Communications Inc
Amfm Inc
Clear Channel
AMFM
San Antonio
U.S
Jacor Communications
Wmt-Am
Wmt-Fm
Cedar Rapids
Kxicam
Kkrq-Fm
Iowa City
Kbur-Am
Kgrs-Fm
Burlington
Lamar Advertising Co
Lamar
Eller Media Co
Prepared foods drive demand amid worker shortages at Reinhart show
At the Reinhart Food Service show in Cedar Rapids the trend toward prepared foods is linked to a worker shortage. Booths showcase ready to serve items from eggs to desserts, with Reinhart distributing 14,000 items from seven centers across Iowa Wisconsin and Minnesota to schools restaurants and other guests.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Cedar Rapids
Reinhart Food Service
U.S. Cellular Center
Reinhart
44Th Ave
Jeff Adelhoven
Crystal Lake Eggs
Bob Coyle
Pickerman’s Soup & Sandwiches
Cedar Falls
Coyle
Ago and Now
Iowa
Wisconsin
Minnesota
Postal Service in the red this year
The Postal Service faces its first money-losing year since 1994 with possible losses up to 300 million dollars as September closes. Postmaster General William Henderson cites lower first class mail and rising costs, while advertising mail rebounds but profits rely on revenue in the final quarter.
MENTIONED IN THIS ARTICLE
Washington
Postal Service
William Henderson
Henderson
Gazette Stock Watch Reports Mixed Market to Start Week
The Gazette notes a cautious opening with modest gains in tech shares and declines in energy due to volatile oil prices. Investors weigh inflation signals and corporate earnings optimism as indices hover near session highs.
July new home sales surge to seven year high
The Commerce Department reports new single family home sales rose 14.7 percent in July to a seasonally adjusted annual rate of 944000, the strongest in four months. The gain, driven by job security and rising incomes, came as mortgage rates averaged 8.15 percent, with June sales revised down 7.1 percent.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Stuart Hoffman
PNC Financial Services Group
Also Mentioned on This Page
Djia
BizFacts
Chicago
New York
International Business Machines Inc
Hewlett-Packard Co
NEC Corp
C.R
Gazette
Postal Board of Governors
the Gazette
Tremont Credit
Broadway
Line of Credit
Benton
Buchanan
Cedar
Delaware
Johnson, Jones, Iowa, & Linn Counties
Collins Community Credit Union
Primus
Custom Homes
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