May inventories and sales show modest rise amid job cuts
The Commerce Department reports inventories up 0.4 percent to 799.4 billion and business sales up 0.9 percent in May, the strongest gain since February. McDonnell Douglas plans up to 11 percent job cuts to save over 700 million this year while maintaining a large jet order backlog. Treasury yields fall with three and six month bills at new lows. UAW contracts with GM Ford and Chrysler expire Sept 14 with talks focusing on jobs pensions wages and health care.
MENTIONED IN THIS ARTICLE
Commerce Department
McDonnell Douglas Corp
John F. McDonnell
Treasury
Treasury Department
United Auto Workers
General Motors
Ford Motors
Chrysler
Ford Motor Co
Dow approaches 3000 as market closes near all time high
The Dow Jones edged to a record close of 2,999.75 amid light trading and mixed sentiment. IBM rose on strong second-quarter results while JPMorgan and NCNB posted gains. Chase Manhattan fell after a disappointing report, signaling uneven strength across sectors.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Wall
Peter DaPuzzo
Lehman Brothers
New York
Philip Retten
Merrill Lynch & Co
NCR
J.P. Morgan
NCNB
Chase Manhattan
Brenton Banks Reports Record Quarterly and Half-Year Income
Brenton Banks Inc. posts a second quarter net operating income of 2.62 million and a six month total of 5.03 million, both records. Earnings per share reach 1.05 for six months, with return on assets at 1.09 percent and return on equity at 15.37 percent. Net interest income drives gains, aided by the Emmetsburg branch merger from First Federal Savings & Loan.
MENTIONED IN THIS ARTICLE
Des Moines
Brenton Banks Inc
Cedar Rapids
Iowa
Emmetsburg
First Federal Savings & Loan Association of
Estherville
Brenton Bank
Palo Alto County
W R Grace profit rises 16 4 percent in Q2
W R Grace & Co reports second quarter profit up 16 4 percent as revenue climbs 7 8 percent to 1 63 billion. Earnings reach 60 cents a share on 51 29 million vs 52 cents on 44 07 million a year ago. Half year earnings up 14 2 percent to 98 cents a share with revenue at 3 14 billion. Grace Specialty Chemicals posts a 10 percent after tax gain driven by packaging and high speed drying equipment sales.
MENTIONED IN THIS ARTICLE
New York
W.R. Grace & Co
Grace
Grace Specialty Chemicals Co
Alcoa Earnings Fall Sharply in Quarter and Half Year
Alcoa reported a 43 percent drop in quarterly earnings to 161.9 million dollars or 1.86 a share. Sales declined to 2.69 billion dollars from 2.76 billion. For the first half 1990 earnings fell about 45 percent to 310.5 million or 3.55 a share, with sales dipping to 5.33 billion from 5.38 billion.
MENTIONED IN THIS ARTICLE
Pittsburgh
Ap) — Aluminum Company of America
Davenport
Iowa
Alcoa
Tracy Toys Selling Fast as Disney Boosts Dick Tracy
Ertl reports Dick Tracy toys are in strong demand across retailers, with the wrist radio and 1936 Ford coupe replica driving early sales. Disney executives say the $81.7 million box office success and mall appeal support continued momentum, though batman items fade.
MENTIONED IN THIS ARTICLE
Ertl Co
Dyersville
Gary Roop
Ertl
Tracy Toys
Roop
the Gazette
Also Mentioned on This Page
McDonnell
Automaker
Tribune Media Services, Inc
Dow
New York Stock Exchange
Banks
Eastman Kodak
IBM
Brenton
J.C. Brenton
W.R. Grace
the Chemical and Diversified Industrial Company
Cryovac
Mary McDowell
Nova University
Commission On Colleges of the Southern Association of Colleges and Schools
Steve Sellers
Millhiser Smith Agency
Life E Business
Oakland Road
Gazette
Bo Bowen
Dick Tracy Toy
Toys “R” Us
Tracy
Disney
Bruce Fishwild
Gazette Financial Editor
Disney Organization
The
Orient
Dick Tracy
Anne Osberg
Disney Consumer Products
America
Osberg
A United
United Bank
United
FDIC
United Federal Savings Bank OF
First Ave
N.E
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