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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 03, 2003
Page
15
Wall Street extended its advance as factory orders rose more than expected. Starbucks results, Merrill Lynch win, and brokerage upgrades boosted sentiment. Dow rose 101.89 to 9142.84, Nasdaq up 38.60 to 1678.73, S&P 500 at 993.75 with light volume of 1.88 billion shares.
Verizon Communications Inc will record charges up to 3 billion dollars this year but says it will not affect its full year guidance for adjusted earnings and revenue growth. The largest 1.6 billion charge stems from a change in revenue recognition for its phone book unit.
The European Parliament backed tougher labels for genetically modified foods to clear a five year ban and allow sales in the EU. Officials expect all 15 governments to approve in July with rules taking effect by year end, amid consumer fears of Frankenfood.
After Canada's first mad cow case since 1997, U S cattle producers see no consumer panic and prices rise as border rules bite. Kansas officials urge caution, warning a unilateral reopening could provoke new bans from Japan and others while U S slaughter surges to fill Canadian supply gaps.
Alliant Energy plans to raise about 276.8 million dollars by selling 15 million shares at 19.25 each to reduce debt and fund improvements in its Wisconsin Power & Light and Interstate Power & Light subsidiaries. The offering could reach 320 million with over allotments and is slated to close next Tuesday. Proceeds will repay debt and finance new generation and distribution facilities and working capital.
Wal-Mart Stores Inc will include gays and lesbians in its anti discrimination policy. Spokesman Tom Williams says the change responds to employee input and aims to attract talent. The tweak comes as nine of the 10 largest Fortune 500 firms ban discrimination against gay workers.
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