Market ends lower as bargain buyers limit losses
The Dow Jones fell 40.66 to 10 with 621.35 and the Nasdaq declined 11.73 to 2395.92 as traders weigh slowing economy impact on earnings. Eastern Iowa stocks show mixed results with 20 gainers and 23 losers. Fiserv Gillette RF Micro Devices Procter & Gamble Conexant rise while General Electric Penford and U S Cellular fall. The US Air Force awarded Rockwell Collins a 29 million KC-135 retrofit contract, sixth option under KC-135 Pacer CRAG, deliveries due April with upgraded cockpit avionics and enhanced safety systems.
MENTIONED IN THIS ARTICLE
Wall Street
Dow
New York Stock Exchange
Iowa
Fiserv
Gillette
Procter & Gamble
Conexant
General Electric
Penford
U.S. Cellular
Air Force
Rockwell Collins
USAF
Oilseed signup deadline set for 2000 program
Farmers must apply by Friday for 2000 Oilseed Program payments. The Agriculture Risk Protection Act of 2000 allocates 500 million dollars nationwide for soybeans and other eligible minor oilseeds. All who planted these crops in 2000 may participate to offset low market prices.
Campbell Soup names Nabisco executive as new CEO
Campbell Soup Co. on Monday named Douglas Conant 49 president and chief executive officer. He previously led Nabisco Foods Co. since 1995 and replaces interim CEO David Johnson who ran Campbell after Dale Morrison resigned in March. Campbell, based in Camden New Jersey, also owns Pepperidge Farm Prego and Godiva brands.
MENTIONED IN THIS ARTICLE
Campbell Soup Co
Douglas Conant
Conant
Nabisco Foods Co
Nabisco
David Johnson
Campbell
Dale Morrison
Camden
N.J
Ameritrade warns of wider loss and job cuts
Ameritrade Holding Corp. warned its first quarter losses will be larger than expected and announced plans to lay off about 300 workers to cut costs. The firm expects a per share loss between 12 and 14 cents, versus 12 cents a year earlier, with revenues seen at 127 to 132 million dollars.
MENTIONED IN THIS ARTICLE
Ameritrade Holding Corp
Ameritrade
First Call
Thomson Financial
Treasury bill rates fall in Monday auction
The Treasury sold 12.5 billion in three month bills at 5.050 percent and 10.5 billion in six month bills at 4.825 percent. The implied yields to investors were 5.188 percent for three months and 5.014 percent for six months based on the discount prices of 9872.30 and 9756.10 respectively.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Wards Warranty Woes Deepen After Bankruptcy Filing
Montgomery Ward filed for Chapter 11 on December 29 and plans to close all stores. Extended warranties bought directly from Wards may not be refunded, though service contracts with third parties could still be honored. Customers face uncertain recovery in bankruptcy court and refunds are unlikely.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Montgomery Ward
Wards
National Product Care
Virginia Surety
Mont
Comery Ward
Joyce Pemberton
Pemberton
Better Business Bureau
Des Moines
Mary Kruger-Eyler
Wards.com
Airlines could consolidate into two dominant U.S. carriers
United and American eye deals that would give them about half of U.S. air travel. UAL seeks to acquire US Airways, while American reportedly plans to buy Trans World and may invest in US Airways. Analysts warn regulators prefer two large rivals to limit monopolistic concerns. Delta stands to lose the most.
MENTIONED IN THIS ARTICLE
Dallas
American
United Airlines
U.S
United
UAL Corp
US Airways Group Inc
Trans World Airlines Inc
St. Louis
US Airways
American Airlines’ Pilots Union
AMR Corp
Richard Gephardt
D-Mo
TWA
UAL
DOJ
Department of Justice
Nikolas Herrmann
Roland Berger
Government pushes extensive testing for biotech corn
Washington reports that FDA and USDA require broader testing for StarLink corn contamination. Guidelines call for 2,400 kernels per truckload and seed testing before sale to farmers, aiming to prevent Cry9C protein from entering human food. Stakeholders stress transparency for growers and industry-wide vigilance.
MENTIONED IN THIS ARTICLE
Washington
Food and Drug Administration
Agriculture Department
Department
Dave Shipman
StarLink
Aventis CropScience
Environmental Protection Agency
FDA
Betsy Faga
North American Millers Association
Shipman
Keith Dittrich
American Corn Growers Association
USDA
Alcoas 4th quarter earnings rise on cost cuts and acquisitions
Alcoa Inc. reports a 17 percent jump in fourth quarter net income to 392 million dollars or 45 cents a share on 6.56 billion dollars in revenue. The results beat analyst expectations as the company notes cost reductions of 1.1 billion dollars yearly and benefits from Reynolds Metal Co. and Cordant Technologies acquisitions.
MENTIONED IN THIS ARTICLE
Pittsburgh
Alcoa Inc
First Call
Thomson Financial
Alcoa
Belda
Reynolds Metal Co
Cordant Technologies
Small-business group fights expanded health care coverage
The National Federation of Independent Business Iowa NFIB plans to oppose mandated expansion of health care coverage for mental illness. NFIB criticizes rising premiums up to 60 percent and seeks to restore references to the 1947 right to work law in state materials.
MENTIONED IN THIS ARTICLE
Gazette Financial
David Brasher
National Federation of Independence Business
Iowa
Iowa House
Iowa Senate
Tom Vilsack
Brasher
NFIB
Also Mentioned on This Page
Collins
Djia
BizFacts
Ice
Unity Marketing
Pat Carr
Paul Trap
PTA
Cobo Hall
Detroit
Fort Worth
No. 3
Delta
Alain Belda
Microsoft
Microsoft Certified
Oakdale Systems, Inc
Custom Software Development
Oakdale Blvd
Coralville, LA
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