Dow, Nasdaq hit records as rates push bond jitter persists
The Dow rose 23.09 to 6567.18 and surpassed a December high after a pullback from a 75 point gain. Nasdaq also advanced amid heavy volume as rates moved higher, while Eastern Iowa stocks showed mixed moves with Gillette, Penwest, Deere, and Rockwell posting modest gains. Access Direct Telemarketing plans 200 new jobs in Iowa, with pay ranges and benefits, expanding to 1,000 work stations and 3,000 employees by December 1998.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Iowa
Gillette
Penwest
Deere & Co
Rockwell
Access Direct Telemarketing Inc
Cedar Rapids
Access Direct
North Liberty
Ames
Jacksonville
Fla
At&t Corps
American Stock Exchange
EchoBay
DOW Jones
Amex
Standard
Eer N
Financ
Niassin Insurance
Transpt
Wilshire Senecienes
Pioneer Trims Seasonal Loss Amid 2 Percent Sales Dip
Pioneer Hi Bred International Inc reports a $45 million loss for the quarter ended November 30, down from $49 million a year ago. First quarter sales total $90 million, slightly below last year's $92 million as the seed corn leader notes stronger outlook for the year. Chairman Charles S. Johnson says 1997 will see 18 new corn hybrids and the firm won approval to market genetically altered hybrids resistant to the European corn borer.
MENTIONED IN THIS ARTICLE
Pioneer Hi-Bred International Inc
Pioneer
United States
Charles S. Johnson
Rates Mixed on Treasury Bills in Monday Auction
The Treasury sold three month bills at 5.02 percent discount, down from 5.08. Six month bills yielded 5.11 percent, unchanged. The discount rates imply a 5.16 percent return for a ten thousand dollar three month bill and 5.32 percent for a six month bill. The Fed reported one year bill yields rose to 5.55 percent from 5.50 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Dairy Queen recalls water baton toys from kids meals
Dairy Queen recalls 150000 water baton toys distributed nationwide from June to October 1996 after reports that the end cap can detach when chewed or sucked. No injuries reported. Consumers should remove the toy and return it for a free kid’s meal or ice cream sundae. Call 1 800 956 9565 for details.
Raytheon to buy Texas Instruments defense unit for 2.95 billion
Raytheon Co agrees to acquire Texas Instruments' Defense Systems & Electronics Group for 2.95 billion in cash, extending its defense reach based in Lewisville Texas. The unit employs about 12 000 people with projected 1996 revenue around 1 8 billion. The deal boosts Raytheon's defense electronics revenue and positions it behind Lockheed Martin.
MENTIONED IN THIS ARTICLE
Raytheon
Texas Instruments
Peter D’angelo
Texas Instruments Defense Systems & Electronics Group
Lewisville
Texas
Lexington
Mass
Lockheed Martin Corp
Defense Electronics
Lockheed
Boeing Co
McDonnell Douglas Corp
Raytheon Co
Northrop Grumman Corp
Chrysler unveils gasoline powered electric car breakthrough
Chrysler Corp announces a fuel cell based system that converts onboard gasoline into hydrogen to power a long range electric car. The approach uses a platinum catalyst and onboard fuel processor to generate electricity, with prototype expected by 2005 and claimed gains in efficiency and emissions.
MENTIONED IN THIS ARTICLE
Chrysler
Detroit
Chrysler Corp
Francois Castaing
Christopher Borroni-Bird
Chrysler Advanced Technologies
General Motors Corp
Prudential Fined $1 Million for Destruction of Documents
A federal judge in Newark fined Prudential Insurance $1 million for destroying documents related to a class action over sales fraud. The ruling cites at least four offices involved and notes potential impact on a settlement that could exceed $1 billion for up to 10.7 million policyholders from 1982 to 1995.
MENTIONED IN THIS ARTICLE
Newark
N.J
Prudential Insurance Co. of America
U.S
Alfred M. Wolin
Prudential
Cambridge, Mass
Ted
Wolin
Taurus keeps top selling car title amid Honda challenge
Ford reports 1996 Taurus led U S sales with 401 049 units up nearly 9 percent over 1995 while Honda Accord ranked second at 382 298 with an 11 percent gain Honda disputes the title noting Polk study showing Accord led in individual registrations with 351 332 versus Taurus 180 423 Toyota Camry 314 415 and argues popularity rests with buyers not fleet sales
MENTIONED IN THIS ARTICLE
Detroit
America
Honda
Ford
Accord
R.L. Polk and Co
Alamo National deal to merge two top rental chains
Republic Industries buys National Car Rental Sys tem Inc. for 600 million creating a combined fleet of 225000 cars and 27 billion in annual revenue. The move potentially challenges Avis as the second largest U S auto rental chain and may attract antitrust scrutiny.
MENTIONED IN THIS ARTICLE
Miami
Alamo
National Car Rental System Inc
Republic Industries Inc
Blockbuster Entertainment
H. Wayne Huizenga
National
Avis
Nue
Huizenga
Republic
AutoNation USA
Wall Street
Also Mentioned on This Page
Dairy Queen
Boston
Cedarapids Inc
Amana Refrigeration Inc
Amana
P Electronics Group
Taurus
Dick Colliver
American Honda Motor Co. Inc
Joel Pitcoff
Pitcoff
Ed Mullinax Inc
David Healy
Burnham Securities
Ron Castell
C.R. Chamber of Commerce
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