Stocks Slide After Positive Earnings Despite Gains
Stocks fell as investors booked profits after Friday's gains despite upbeat earnings. The Dow dropped 71.85 to 10528.66 while the Nasdaq rose 7.52 to 2147.98 as oil rose and the dollar weakened. Advancers beat decliners 3 to 2 with 2.32 billion shares traded.
MENTIONED IN THIS ARTICLE
Russ Koesterich
U.S
State Street Corp
New York Stock Exchange
Iowa heating fuel prices trend higher
Iowa heating fuel costs are up from a year ago but remain below feared record highs. DNR data show heating oil at 1.187 per gallon and propane above last year yet under Midwest levels, with natural gas at 5.51 per 10 therms on Jan 16 and self-serve unleaded around 1.56 per gallon.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Iowa
New York Mercantile Exchange
Iowa Department of Natural Resources
DNR
Midwest
Waterloo
DNA Energy
Jennifer Moehlmann
Cedar Rapids
Iowa City
United Technologies Reports Higher Profit in Q4
United Technologies Corp. on Tuesday reported fourth quarter earnings rose 9 percent due to growth in Otis Carrier and military aerospace units. Net income reached $588 million or $1.16 a share on $8.6 billion in revenue, versus $533 million or $1.06 a share and $7.2 billion a year earlier. For the full year UTC earned $2.36 billion or $4.69 a share on $31 billion in revenue.
MENTIONED IN THIS ARTICLE
United Technologies Corp
Otis and Carrier
Thomson First Call
UTC
Lee Enterprises posts 9 percent quarterly earnings rise
Lee Enterprises Inc reports first quarter earnings of 24.5 million up 9 percent year over year on advertising gains. EPS 55 cents up from 51 cents and total revenue 130.8 million from ads at Davenport based company with circulation revenue at 33.7 million.
MENTIONED IN THIS ARTICLE
Lee Enterprises Inc
Lee Enterprises
Martha Stewart faces jury selection in stock-trading trial
Martha Stewart arrives at a Manhattan courthouse for jury selection in her 2001 ImClone stock trading case. She pleads not guilty to five counts, faces up to 30 years in prison, and opening statements are expected next week as the trial proceeds. Supporters defend her innocence amid the celebrity scrutiny.
MENTIONED IN THIS ARTICLE
John Small
Martha Stewart
New York
Stewart
Manhattan
Cedarbaum
Martha
FDIC proposes CRA changes to ease small bank reviews
Federal regulators vote to loosen Community Reinvestment Act requirements for banks under 500 million in assets, aiming to cut paperwork and extend fewer reviews. Proposals draw criticism from consumer groups who warn of reduced minority lending and home ownership outreach.
MENTIONED IN THIS ARTICLE
Washington
Federal Deposit Insurance Corp
FDIC
Bush
Iowa
Doug Neighbor
Farmers State Bank
Marion
Wells Fargo earnings up 10 percent in quarter
Wells Fargo & Co reports 4th quarter profit of 1.62 billion dollars or 95 cents per share, up from 1.47 billion or 86 cents. The San Francisco bank matched analysts' estimates as it sustains 24 years of double‑digit growth despite mortgage slowdown.
MENTIONED IN THIS ARTICLE
San Francisco
Wells Fargo & Co
Thomson First Call
Wells
New York Stock Exchange
Banking profits rise as Bank One reports quarterly gains
Bank One posts a quarterly profit of $978 million on revenue totaling $7.4 billion, reflecting a 12 percent year over year increase from $6.7 billion. The results show stronger earnings supported by higher revenue than the prior year.
Cingular Offers Over 27 Billion for AT&T Wireless Bid
Cingular Wireless made a cash offer exceeding 27 billion dollars for AT&T Wireless, aiming to create the nation’s largest cell phone company. AT&T Wireless board received the overture amid interest from Vodafone NTT DoCoMo and Nextel, with formal discussions ongoing in Florida and no immediate deal expected.
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Atlanta
Cingular Wireless
At&t Wireless
At&t Wireless’ Board of
Cingular
Vodafone PLC
Britain
NTT DoCoMo
Japan
Nextel Communications
Reston
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