Market rally boosts blue chips as rates eyed for cut
Optimism over possible Fed rate cuts sent blue chip stocks higher while tech shares slid on profit worries. The Dow rose 210.46 to 10 645.42, Nasdaq fell 28.75 to 2624.52, with 5 to 3 advancers on the NYSE and 1.4 billion shares traded. Local movers included Wells Fargo up to 52.69 and Deere at 42.88. Conexant slipped to 22.94 amid a mixed session.
MENTIONED IN THIS ARTICLE
Federal Reserve
Wall Street
New York Stock Exchange
Iowa
Wells Fargo
Firstar
Deere
Union Planters
General Mills
Gillette
Fiserv
U.S. Cellular
Conexant
Deere to Acquire Great Dane Power Equipment
Deere & Co of Moline Illinois agreed to acquire Great Dane Power Equipment Co of Jeffersonville Indiana. Great Dane specializes in commercial mowing equipment and had almost 23 million dollars in sales in 1999. The deal details were not disclosed.
MENTIONED IN THIS ARTICLE
Deere & Co
Moline
Ill
Great Dane Power Equipment Co
Jeffersonville
Ind
Great Dane
Deere
Great Dane Power Equipment
Dane Scng
Chrysler to Post 1.2 Billion Loss in Q4
DaimlerChrysler executives warned shareholders that Chrysler faces about a 1.2 billion dollar loss in the fourth quarter of 2000. They cited fierce competition high incentives slow sales of key models and a weak U.S. market as factors likely to extend into 2001.
MENTIONED IN THIS ARTICLE
DaimlerChrysler AG
Chrysler
Juergen Schrempp
Manfred Gentz
DaimlerChrysler
U.S
Schrempp
Gentz
Rite Aid pulls Super Speeder II Scooters from shelves
Rite Aid Corp. removes all Super Speeder II Scooters sold as the Viper model No. 386 after safety warnings from Excite Ltd. No recall is issued. Refunds offered with or without receipt.
MENTIONED IN THIS ARTICLE
Rite Aid Corp
Excite Ltd
Rite Aid
Jody Cook
Treasury bill rates fall in Monday auctions
The Treasury sold 12 billion dollars of three month bills at 5.770 percent, down from 5.900 percent, and 10 billion of six month bills at 5.660 percent, down from 5.790 percent. The implied yields were 5.939 percent for three months and 5.907 percent for six months. The Fed reported one year bill yields averaged 5.73 percent last week, down from 5.78 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
BizFacts Upscale autos Mercedes-Benz 500 S costs
Luxury 2001 model Mercedes-Benz 500 S featured among top upscale autos with estimated annual operating costs. Analysis highlights upkeep, fuel, insurance, and maintenance implications for high end vehicles in cost comparisons.
Gillette to Eliminate 2700 Jobs and Close Facilities
The Gillette Co plans to cut about 2700 jobs, 8 percent of its workforce, and close eight factories and 13 distribution centers over the next year to boost profit growth. The restructuring will consolidate management and centralize corporate functions, with savings projected at 125 million annually beginning in 2002.
MENTIONED IN THIS ARTICLE
Iowa Department of Natural Resources
Marland
Iowa Hall
Kirkwood Community College
Cedar Rapids
State
Associated Press and Gazette
Boston
Gillette Co
Gillette
Stephen Brayton
Brayton
Iowa City
Edward F. DeGraan
DeGraan
Charles Cramb
Aetna
Riverstone Inc ends its first holiday season in e commerce
Riverstone Inc a Lisbon based fulfillment center for dot com retailers like Redwagon com Target com finished its first holiday season with peak employment at 95 two weeks ago. CEO Michael Mulvehill notes slower last minute orders and predicts a renewed focus on customer service as mainstream retailers gain ground.
MENTIONED IN THIS ARTICLE
Target.com
Riverstone
Michael Mulvehill
Mulvehill
U S EU panel urges labeling of all biotech foods
A 20 member U S European Union panel urges tighter controls on genetically engineered foods including mandatory labeling of biotech ingredients. The report calls for content based labeling for foods with novel genetic material and supports a government approval process before market entry.
MENTIONED IN THIS ARTICLE
Washington
United States
European Union
Europe
U.S
Missouri
Ryland Atlant
Clinton
Pioneer Hi Bred halts sale of unapproved EU corn hybrid
Pioneer Hi Bred International will remove from market a hybrid corn variety not yet approved for EU import. The YieldGard LibertyLink hybrid, approved in major markets, was paused to avoid customer confusion as Pioneer seeks EU approval and continues global marketing efforts.
MENTIONED IN THIS ARTICLE
Des Moines
Pioneer Hi
Pioneer
Monsanto
LibertyLink
Aventis Group
Doyle Karr
StarLink
Europe
Japan
McConnell
U S and Japan Agree to Test Biotech Corn Exports
U S and Japan sign an inspection pact to test StarLink biotech corn in animal feed. Japanese inspectors will monitor U S tests before shipment, amid past concerns about StarLink presence in snacks and feed.
MENTIONED IN THIS ARTICLE
U.S
Japan
Chicago Board of Trade
United States
StarLink
Ministry of Agriculture
U.S. Department of Agriculture
Also Mentioned on This Page
Djia
BizFacts
Wwok
Gillette’s
Oral B Laboratories
Motorola
General Motors
Whirlpool
Mouts Inc
Teton Clothing and Home Accessories
Jackson Hole
Wyo
Tokyo
Microsoft
Microsoft Certified
Oakdale Systems, Inc
Custom Software Development
Oakdale Blvd
Coralville, 1A
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