Technology stocks pin Nasdaq near record close
Nasdaq hovered near a new closing high as technology shares rallied while blue chips fell on rate worries. The Dow shed 162.26 to 11,560.72, volume 1.01 billion. Nasdaq rose 66.54 to 4,130.81, near its January record. Eastern Iowa stocks mixed with RF Micro Devices up 8% and others advancing or retreating.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
NYSE
Iowa
U.S. Cellular
Rockwell
Engineering Animation
McLeodusa
National Computer Systems
International Paper
AEGON
Weyerhaeuser
Parker Hannifin refutes job cut figures linked to merger
Parker Hannifin says AP reports on job cuts tied to its planned takeover of Commercial Intertech are inaccurate. Only 30 Commercial Intertech corporate positions face duplication, with efforts to relocate affected staff within Parker Hannifin’s 40,000-strong workforce and to fill roles at a Hiawatha plant. Separately Microsoft posts strong quarter with 2.44 billion profit on 6.11 billion revenue.
MENTIONED IN THIS ARTICLE
Parker Hannifin Corp
Associated Press
Commercial Intertech
Youngstown
Ohio
Parker Hannifin
Hiawatha
Cedar Rapids Library Offers Free Tax Forms and Access
The Cedar Rapids Public Library at 500 First St SE provides basic state and federal tax return forms with instructions in the lobby free of charge. A CD ROM station with printer holds over 6,000 federal forms dating to 1991, free copies. Seven Internet stations enable downloading tax forms.
MENTIONED IN THIS ARTICLE
Cedar Rapids Public Library
First St. SE
Pork producers seek futures changes and stricter packer bans
Delegates at the Iowa Pork Producers Association meeting in Des Moines call for reforms to livestock futures contracts and a study of market speculation. They urge the Legislature to tighten bans on packers owning livestock and repeal open cooperative exemptions, while supporting interstate meat shipments under federal rules.
MENTIONED IN THIS ARTICLE
Gazette
Des Moines
Iowa Pork Producers Association
Dykstra
Everly
John McNutt
Iowa City
National Pork Producers Council
Chicago Mercantile Exchange
the Mercantile
Iowa
Co-Op
Randy Nelson
Clinton County
Congress
USDA
Tom Augustyn
Rockwell profits rise 16 percent on strong first quarter
Rockwell International reports a 16 percent jump in first quarter profits to 157 million or 81 cents a share, beating analysts' 76 cent estimate as Rockwell Collins sales rise 10 percent to 561 million and Rockwell Automation maintains revenue near last year. Operating earnings rise 14 percent for division.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Motors
Midland Forge weighs options for sale or merger
Columbus McKinnon Corp. hired Bear Stearns to advise on strategic alternatives to maximize shareholder value including a sale or merger. CEO Timothy Tevens cites strong market share and cash flow in CM’s products and solutions industrial segments while Midland Forge operates at 101 50th Ave. SW Cedar Rapids manufacturing chain hooks shackles and clevises.
MENTIONED IN THIS ARTICLE
Columbus McKinnon Corp
Midland Forge Co
Cedar Rapids
Bear, Stearns & Company Inc
Amherst
N.Y
CNN
Timothy Tevens
Columbus McKinnon
Midland Forge
50Th Ave
Wells Fargo posts 970 million Q4 earnings and 3.75 billion year
Wells Fargo reports fourth quarter net income of 970 million or 58 cents a share on 4.47 billion in revenue, up from 1998. For the year earnings reach 3.75 billion and revenue 16.76 billion as shares fall about 7 percent after the announcement. Paul Hazen steps back from day to day duties, with Richard Kovacevich taking over operating duties. The bank completed two state conversions in 1999 and plans 40 more system changes in 2000 across 19 states.
MENTIONED IN THIS ARTICLE
Wells Fargo
New York Stock Exchange
Paul Hazen
Norwest Corp
Richard Kovacevich
Hazen
Consumers cut credit debt as bankruptcies drop
The Consumer Federation of America reports 112,000 fewer personal bankruptcies in 1999 than 1998 due to cautious borrowing and higher debt payments. Economist Lawrence Ausubel notes an 8 percent fall from 1998 to 1999, amid Senate debate on bankruptcy legislation.
MENTIONED IN THIS ARTICLE
Washington
Consumer Federation of America
Stephen Brobeck
Consumer Federation
Senate
House
Lawrence Ausubel
University of Maryland
Also Mentioned on This Page
Dow
Microsoft
Microsoft Corp
First Call/Thompson Financial
Redmond
BizFacts
U.S
Pork Group
Rodney Dykstra
Guttenburg
Edgewood Locker
Wisconsin
Augustyn
Delaware County Meats
Iowa Park Congress
Polk County Convention Complex
Veterans Auditorium
Mariene Lucas
Marienel
Texas Roadhouse
Westdale Mall
Buffalo Construction Co
Louisville
Texas Roadhouse Chain
Applebee's
Carlos O’kelly
George C. Ford
George Ford
Georgef
Ausubel
United States
NASA
Welter
Blairs Ferry
Monticello
Offai
Urni
Global
Federal Reserve Board
AP Administrative Office of
U.S. Courts
Lawrence Ausube
Ollins Community A Credit Union
Otte -Atland St. NE
US 18 Ave
NCAA
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