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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 14, 2004
Page
14
Wall Street closed narrowly mixed after Johnson & Johnson and banking results. Intel reported earnings in line with forecasts but sales missed the high end of its outlook, while the Dow gained 9.37 to 10,247.59 and the Nasdaq slipped 5.26 to 1,931.66 amid a cautious session.
Alliant Energy Corp will record a charge of up to $44 million in Q2 after divesting units to focus on core strategic goals. Cogenex Corp an energy services unit will be unloaded along with NG Energy Trading LLC and its Florida Minnesota and Wisconsin offices. Proceeds will reduce debt as the company develops its divestiture plan with completion hoped within a year.
Researchers gain access to maize sequencing data from Monsanto Pioneer Hi-Bred and Ceres via a nonprofit database to accelerate corn genome sequencing by 2007. The partnership aims to breed drought resistant and higher value corn for noncommercial use, with access controlled through the Danforth Center and NCGA registration.
Grace Children's Products of Exton Pa recalls about 140000 Travel Lite Swings after 30 reports of safety bars detaching and 100 reports of children slipping from faulty belts. Injuries include lips and facial marks. Call 1 800 345 4109 for a free repair kit.
Iowa City store owner Mark Ginsberg unveils an open, modular display system that replaces counters with a 30 foot armoire and 10 mobile cases to invite hands on exploration. The test run Friday from 5 to 8 p.m. seeks private after hours appointments and a tactile shopping experience.
The Agriculture Department acknowledges issues in its mad cow surveillance that may understate disease presence. The inspector general notes the draft snapshot in March before full start up, with concerns including tests not covering some cows with nervous system problems. Rep. Waxman calls the flaws major and plans a hearing on the response to the threat.
Employers plan pay increases of 3.3 to 3.5 percent this year and about 3.5 percent in 2005, with health care costs eroding some gains. The Mercer and Conference Board surveys show cautious budgeting, a still tight labor market, and only modest real gains above inflation. One in twenty firms freeze pay this year, down from prior years.
MCI Inc will list its stock on Nasdaq today under the MCIP symbol designed to emphasize the Internet edge of its business. The move follows its post bankruptcy rebranding and a plan to boost the Internet protocol focus amid proxy and antitrust activity.
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