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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 29, 2010
Page
10
The market slid as tech earnings disappointed and S P says Britain’s banking system is no longer among the most stable. Dow dropped 115.70 to 10120.46, S P 500 fell 12.97 to 1084.53, Nasdaq down 42.41 to 2179.00. Mortgage rates eased slightly with 30 year at 4.98 percent, 15 year at 4.39, and five year ARM at 4.25.
Rhode Island officials report black pepper used in salami as a possible Salmonella source for a nationwide outbreak. Tests matched the strain in 189 illnesses and in two pepper containers at Daniele International in Burrillville, prompting a recall of 1.2 million pounds of pepper-coated salami.
Microsoft said earnings for the fiscal second quarter ending December 31 rose 60 percent to 6.7 billion dollars, or 74 cents per share, on a 14 percent revenue increase to 19 billion dollars. The gain followed a rebound in PC sales from the year ago period.
Rockwell Collins begins 2010 with net income of 121 million down 30 million from a year earlier. EPS 0.76 versus 0.95 prior. sales fall 3 percent to 1.027 billion as organic revenue declines offset by data from new acquisitions. CEO Clay Jones cites recession and Defense Appropriations delays.
Elizabeth Smith of Cedar Rapids designed Hip Mama Calling Cards to keep parent contact details handy. The 26 year old launched the product at The Traveling Door fall sale in Cedar Rapids and markets sets of 20 for $20 through Liz Ink & Paper based in Des Moines.
The Senate confirmed Federal Reserve Chair Ben Bernanke for a four year term by a 70 to 30 vote in a historically close confirmation. Opponents led by Richard Shelby argued his policies fueled the crisis while supporters credited him with averting a deeper recession and maintaining central bank independence.
Unemployment claims fell 8,000 to 470,000 last week, below analysts' 450,000 forecast, with a four week average up to 456,250. Factory orders rose 0.3 percent in December, well short of the 2 percent expected, while 2009 durable goods orders dropped 20.2 percent.
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