Technology stocks slip as earnings loom and inventories flatten
Tech shares cooled on Monday as investors locked in gains from last week while awaiting quarterly results. The Nasdaq fell 55.67 to 2029.12, the Dow declined 66.94 to 10472.12, and the S P 500 dropped 13.23 to 1202.45. Eastern Iowa stocks Genencor rose 1.40 to 17.89, Conexant slid 0.78 to 7.98, Quaker Oats fell 1.50 to 89.
MENTIONED IN THIS ARTICLE
Citigroup
Bank of America
Commerce Department
Standard & Poor
Iowa
Genencor
Conexant Systems
Quaker Oats
AMEX
Clig
Banks
Biotech
Computer
Indust Finance
Insurance
Telecom
Transport
Aew
Associated Press
NEW York Stock Exchange
NokiaCorp
LucentTech
Bankny
GemElec
American Stock Exchange
Cisco
DOW Jones
Wilshire Associates
EDS and Sun Forge Alliance to Sell Each Other
EDS and Sun Microsystems formed a bilateral alliance to supply hardware software and services to firms seeking technology help. The partners expect about 3 billion dollars in combined sales over the next five years from Web sites and data centers. They will announce three initial contracts under the pact.
MENTIONED IN THIS ARTICLE
Electronic Data Systems Corp
Sun Microsystems
EDS
Sun Technology
Sun
PM Exchange in Robins at Community Savings Bank
The Cedar Rapids Area Chamber of Commerce hosts a July PM Exchange at Community Savings Bank in Robins from 5 to 7 p.m. on Thursday. Chamber members and spouses pay $6, non members $12.
MENTIONED IN THIS ARTICLE
Community Savings Bank
Cedar Rapids Area
First Iowa Earnings Dip in Q2 2001
First Iowa Bancshares Inc of Muscatine posted net income of 827000 for the quarter ended June 30 down from 1010000 in the prior year. The firm cited a volatile rate environment with the Fed cutting short term rates about 275 basis points and expects to hold or improve net interest income in H2 2001 if no further rate cuts occur.
MENTIONED IN THIS ARTICLE
First Iowa Bancshares Inc. of
Muscatine
Federal Reserve Bank
First Iowa
Search engines accused of deceptive advertising tactics
Commercial Alert led by Ralph Nader filed a complaint with the FTC alleging eight major search engines hide how special fees affect results. The group says engines abandon objective ranking formulas and sell top spots to highest bidders without proper disclosures to users.
MENTIONED IN THIS ARTICLE
Monday
Federal Trade Commission
Commercial Alert
Ralph Nader
FTC
Bill boosts grain based fuel use in proposed law
A Senate backed bill would require 1.5 percent of U S fuel to come from renewable sources such as soybeans and corn. The Agriculture Department says soybean prices could rise about 3 percent over ten years and national net farm income might grow by about 310 million dollars per year on average, amid a current 35 9 billion dollar baseline. The proposal is led by Senate Majority Leader Daschle and Senator Lugar and targets corn soybean and other crops as feedstock.
MENTIONED IN THIS ARTICLE
Agriculture Department
Charles Grassley
Iowa
Senate
Tom Daschle
D-S.d
Indiana
Richard Lugar
Vineyard workshop set today at Tabor Home Winery
The Tabor Home Vineyard & Winery hosts a mid season meeting on canopy control pest management and variety evaluation at 6 30 p m north of Baldwin. For information call Limestone Bluffs RC&D at 563 652 5104.
MENTIONED IN THIS ARTICLE
Tabor Home Vineyard & Winery
Baldwin
Limestone Bluffs
Oklahoma EPA orders hog farm to obey solid waste law
In central Oklahoma the EPA declared hog waste a solid waste under the Resource Conservation and Recovery Act after detecting high nitrates in a private well and lagoons. Seaboard Farms Inc. cooperates and will fund an investigation to prove innocence while officials say health protection is the priority.
MENTIONED IN THIS ARTICLE
Hennessey
Okla
Oklahoma
Environmental Protection Agency
America
al Tank
National Pork Producers
Seaboard
Shawn Lepard
ProAg
EPA
Merriam
North Carolina
County fair unites family at Iowa event
Marlene Lucas reports from Marengo as Jim and Marcia Baack of Williamsburg bring their daughter Rose and granddaughter Logan to the Iowa County Fair. Rose handles dairy cattle while Logan prepares a bucket bottle calf. grandchildren, Georgia visitors, and long family history with 4-H enrich a rural community event with shows and a pork producers supper. The fair continues with dairy heifers, poultry, rabbits, steers, and the 4H and FFA sale scheduled through Wednesday.
MENTIONED IN THIS ARTICLE
Williamsburg
Logan
Marcia
Baack
University of Iowa
Iowa City
Jim
Charlie
Lynn
Rose
Iowa County
Rose Baack
Stitzer
Wis
Emmalyn Baack
Marengo
Jim Baack
Mitch McEachern
Chase Cooper
Amy Harrison
Newnan
Lynn (Baack) Gahring
Cedar Rapids gets Bedroom Expressions store
Cedar Rapids opens its first Bedroom Expressions at 1420 Twixt Town Road NE as part of a 60 store nationwide launch. The chain started in 1997 to offer bedroom furniture under one roof and operates about 4,000 square foot outlets with around 10 employees.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Bedroom Expressions
Town Road
Company
Christine Hoeck
Iowa crops seek rain as corn tassels and bean blooms advance
Iowa crops show mixed progress with early corn tasseling and later plantings needing tassel by August 1 to mature before frost. East Central district reports 34 percent tasseled and 22 percent silked, soybeans 46 percent blooming. Drought stresses persist north and south of a Rain band. topsoil and subsoil moisture largely short to very short.
MENTIONED IN THIS ARTICLE
Greg Brenneman
Iowa State University Extension
Iowa City
East Central
Lynn
Johnson Counties
Iowa Crops & Weather Report
Iowa
Highway 30
Interstate 80
Inventory report signals inventory draw in May
Commerce Department data show May inventories unchanged after a 0.2 percent April drop while May sales rise 1.1 percent, the strongest gain since March 2000. Economists cite continued progress toward trimming stockpiles and note persistent weak demand as a drag on output.
MENTIONED IN THIS ARTICLE
Commerce Department
Eagle Point agrees to buy Eagle Point Software by founder
John Biver founder and director of Eagle Point Software reaches agreement with Eagle Point's board to acquire the Nasdaq listed engineering software firm in a 30 million dollar deal. Biver offers 6.40 dollars per share in cash, a 75 percent premium to the 90 day average and 5 percent above River's January preliminary 4.25 dollar offer. Two major shareholders receive seven year promissory notes worth 6.40 per share.
MENTIONED IN THIS ARTICLE
Dubuque
John Biver
Eagle Point Software
Biver
Eagle Point
Mium
River
Also Mentioned on This Page
Djia
Sun Microforge Alliance
Robins
BizFact
U.S
By Marlene Lucas
Harrison
Newnan, Ga
Gazette
Marlene Lucas
C.R
Hoeck
Oak Express Furniture
Furniture Row Companies
Furniture Row
Sofa Mart
Denver Mattress Co
Big Sur Waterbeds
Furniture Row Outlets
Oak Express
Lowa
Lowa Agricultural Statistics
Washington
Clifford Waldman
Waldman Associates
Federal Reserve
Alan Greenspan
Nyse Index
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