Wall Street Gains As Fed Outlook Lifts Markets Briefly
Major indices climbed with the Dow up 157.14 points to 9,920.00 and the Nasdaq 20.59 to 1,934.03 as advancers outpaced decliners two to one. Local names Procter & Gamble and Alcoa led gains while a recall of 1,600 power inverters prompted consumer safety actions. Freddie Mac reported higher mortgage rates, with 30-year fixed at 7.02 percent and 15-year at 6.51 percent.
MENTIONED IN THIS ARTICLE
Wall Street
Federal Reserve
Dow
New York Stock Exchange
Procter & Gamble
Alcoa
Pepsico
Nash Finch
Deere
Sealed Air
Rockwell Collins
Vector Manufacturing Ltd
Fort Lauderdale
Fla
Consumer Product Safety Commission
Freddie Mac
Meatpackers push to drop farm bill restrictions on livestock control
Senate action on the farm bill faces a fight over a 51 to 46 amendment banning packing companies from owning or controlling cattle or hogs within two weeks of slaughter. American Meat Institute sponsors expect bipartisan push to reverse it. Proposals divide producers with the National Cattlemen’s Beef Association and National Pork Producers Council opposing, Farm Bureau backing the measure, poultry and cooperative-owned packers exempt. Senate may strip the rules or seek an Agriculture Department study.
MENTIONED IN THIS ARTICLE
Senate
Sara Lilygren
American Meat Institute
National Cattlemen’s Beef Association
National Pork Producers Council
American Farm Bureau Federation
Larry Craig
Idaho
Agriculture Department
Workers seek to move Enron 401k suit forward in bankruptcy
A group of Enron employees asked a New York bankruptcy court to allow their lawsuit over 401(k) losses to proceed. They claim Enron owes about $1 billion to workers and seek to block using insurance proceeds to pay executives’ legal bills. The suit contends fiduciary breaches while Enron steered savers into company stock.
MENTIONED IN THIS ARTICLE
NEW York
Enron
U.S
Eli Gottesdiener
Calves Cloned From Waukon Cow Do Well
Two calves cloned from Jed Deborah of Regancrest near Waukon were born Wednesday and appear healthy with a third possible birth in mid February. Cyagra plans further cloning, price reductions, and veterinary checks will confirm health in two weeks.
MENTIONED IN THIS ARTICLE
Waukon
The
Gazette
Jed Deborah
Regancrest
Ron Gillespie
Cyagra
Worcester, Mass
Des Moines
Regan Brothers
P&G earnings rise despite restructuring charges
Procter & Gamble reports a 9 percent rise in second fiscal quarter earnings to 1.3 billion dollars or 93 cents a share, with a 146 million dollar restructuring charge. Excluding the charge core earnings reach 1.03 per share, slightly above estimates. sales total 10.4 billion, up 0.2 billion. Product shipments volume climbs 5 percent driven by health care and beauty lines. P&G maintains guidance for high single digit core EPS growth in fiscal 2002.
MENTIONED IN THIS ARTICLE
Cincinnati
Procter & Gamble Co
P&g
Thomson Financial
First Call
Iowa City
Tide Detergent
Bounty
Pringles
Folgers
Kmart vows to keep newspaper advertising amid bankruptcy
Kmart Corp plans to continue buying newspaper ads to attract customers during its bankruptcy restructuring. The Troy, Michigan retailer ships 72 million glossy weekly circulars nationwide and is a top 100 brand advertiser, with 2000 ad spending around 171 million across U.S. papers.
MENTIONED IN THIS ARTICLE
Troy, Mich
Kmart Corp
Kmart
Troy
Also Mentioned on This Page
Agriculture Committee
U.S. Department of Agriculture
Tom Harkin
Iona
Washington
D.C
Lowan Thomas Dorr
Verizon
Verizon Communications Inc
Djia
Cedar Rapids
AP Stockquote
Local
Midwest
Tim Johnson
South Dakota
Johnson
Excel Corp
Sandra Pakosh
Compaq
Hee Joon Park
Samsung Electronics Co. Ltd
Waldorf Astoria Hotel
Gottesdiener
By Marlene Lucas
Gillespie
Frank
William
Ronald
Charles
Holstein Association USA
Hawkeye Downs
Iowa
Lynne Dickerson
McClatchy Co
Modesto
Califor
Nia
the Tribune Co
E.W. Scripps Co
Clancy
Petal
Brey Can Conny
Third Avenue South East
le Ieee
Byles Gametic Mooteau Ie
Cedar Rapids Area Convention and Visitors Bureau
Cedar-Rapids.com
Great America
1St St. SE
Crbt
FDIC
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