Banks Lift Wall Street On Optimism Of Rebound
Citigroup and Bank of America beat earnings estimates fueling a strong market rally. The Dow rose 57.56 to 9177.15 and the Nasdaq climbed 20.89 to 1754.82 as advances outpaced declines about 9 to 5 on the NYSE amid late selling.
MENTIONED IN THIS ARTICLE
Citigroup
Bank of America
Wall Street
Larry Wachtel
Prudential Securities
New York
Union Rejects Excel Pork Plant Contract In Ottumwa
About one third of 1500 union members voted Sunday and the contract failed prompting mediation talks. Ron Brown says negotiations will continue to avert a strike as union and company officials seek settlement.
MENTIONED IN THIS ARTICLE
Excel
Ottumwa
United Food and Commercial Workers Local
Ron Brown
Treasury auction shows lower short term rates on bills
The Treasury sold 16 billion in three month bills at 0.880 percent, down from 0.890, and 18 billion in six month bills at 0.930 percent, down from 0.940. The discounted yields imply 0.895 percent and 0.950 percent returns for 10000 and 9953 dollar bills respectively. The Federal Reserve reported one year bill yields rising to 1.08 percent from 1.07 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Gazette
News Service
Vehicle rollover ratings show only 17 of 52 getting top mark
Government tests release results showing 17 of 52 sedans and pickups earning five stars for rollover resistance. The 2003 Toyota Tacoma earned two stars, while several models including Audi TT Buick LeSabre Chrysler Concorde Dodge Intrepid Ford Mustang and Mercedes E320 posted top five-star scores.
MENTIONED IN THIS ARTICLE
Washington
National Highway Traffic Safety Administration
Boise Cascade to Acquire OfficeMax in $1.2 Billion Deal
Boise Cascade Corp agrees to buy OfficeMax Inc for about 1.2 billion in cash and stock, creating a larger rival to Staples and Office Depot. OfficeMax operates stores in Cedar Rapids and several Iowa cities, while Boise Cascade plans 30 percent cash and 70 percent stock. Both boards approve. antitrust review expected but no major concerns cited.
MENTIONED IN THIS ARTICLE
Cleveland
Boise Cascade Corp
OfficeMax Inc
Staples
Office Depot
OfficeMax
U.S
Boise Cascade
Cedar Rapids
Clinton
Columbus
Ohio
July Crop Report Sees Farmers Content Despite Rain
The Gazette reports Iowa farm fields show steady progress with corn average height five feet and 85 percent good to excellent. Soybeans bloom 30 percent as rainfall totals rise. topsoil moisture remains adequate to surplus. Farmers at the Marengo fair note no widespread complaints about rain or crop conditions.
MENTIONED IN THIS ARTICLE
The
Gazette
Iowa
Iowa Agricultural Statistics
Steve DeHoogh
Iowa State University Extension
Iowa County
Marengo
DeHoogh
National Weather Service
Fiserv Completes Purchase of EDS Credit Union Unit
Fiserv Corp completes acquisition of the EDS CUIG unit for 218 million in cash. The buyer gains about 1 000 credit unions and roughly 115 million in annual processing revenue. CUIG employs 450 staff across Plano Huntersville Phoenix Madison Orlando Auburn Hills San Antonio and St Louis.
MENTIONED IN THIS ARTICLE
Fiserv
EDS Credit Union
George C. Ford
Gazette
Fiserv Corp
Credit Union Industry Group
Electronic Data Systems Corp
Brookfield
Wis
Texas
CUIG
Plano
Huntersville
N.C
Phoenix
Madison
United mechanics choose AMFA to represent United workers
United Airlines mechanics voted 64 percent for the Aircraft Mechanics Fraternal Association over the IAM in a 30 day ballot ending Monday. AMFA gains coverage for mechanics cleaners and fuelers at United, expanding its reach after previous failed attempts. The IAM urged concern over the airline’s bankruptcy while declining to name the winner in its member notice.
MENTIONED IN THIS ARTICLE
Chicago
United Airlines Mechanics
Aircraft Mechanics Fraternal Association
Northwest Airlines
United
International Association of Machinists and Aerospace Workers
AMFA
IAM
Interstate Bakeries posts quarterly loss on falling sales
Interstate Bakeries Corp. reported a fiscal fourth quarter loss of 10 cents a share on revenue of 818 million dollars, with sales down 1.8 percent. The results include 3.5 million in restructuring charges and 8.4 million in self insurance reserve changes.
MENTIONED IN THIS ARTICLE
Kansas City
Dow Jones/AP
Interstate Bakeries Corp
New York Stock Exchange
Thomson First Call
Davenport
James Elsesser
Interstate Bakeries
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