Market Rebound Fueled by Microsoft Outlook Gains
Buyers returned to Wall Street on Friday as Microsoft issued an upbeat outlook and lower prices after three days of declines. The Dow rose 1837.33 to 9188.15 and the Nasdaq advanced 10.48 to 1708.50. For the week the Dow gained 0.8 percent while Nasdaq slipped 1.5 percent.
MENTIONED IN THIS ARTICLE
Wall Street
Microsoft
Todd Clark
Wells Fargo Securities
New York Stock Exchange
Interstate Power gains interim Minnesota rate hike OK
The Minnesota Public Utilities Commission authorized Interstate Power and Light Co a 3.1 percent interim rate increase of about 1.9 million dollars taking effect Friday. A typical Minnesota residential bill with 685 kilowatt hours monthly rises by 2 dollars 21 cents to 64 dollars 29 cents.
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Interstate Power and Light Co
Alliant Energy Corp
Minnesota Public Utilities Commission
Interstate Power and Light
Minnesota
Iowa Quality Beef plant to cut shipping costs for Iowa producers
Beef producers expect immediate savings as the Tama packing plant opens. The facility will cut long shipments to distant processors, reducing per-load costs while expanding cattle demand locally. The plant aims to slaughter about 200 head daily in its first week, rising to 1 700 daily as capacity grows.
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Marlene Lucas
Gazette
Iowa Quality
Tama
Cedar Rapids
Iowa
Illinois
Nebraska
Pennsylvania
John Lawrence
Iowa State University
Ottumwa
Grand Island
Neb
Boeing to cut 4000 5000 more jobs in commercial division
Boeing plans to trim 4 000 to 5 000 additional positions in its Commercial Airplanes unit by year end amid a deep airline downturn. CEO Alan Mulally cites attrition and layoffs as the method while keeping 2003 forecast at 280 planes and 2004 at 275 300.
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Ford Motor Co
Ford
Gazette
News Service
Boeing
Renton
Wash
Boeing Co
Seattle
Alan Mulally
Mulal
Mark Blondin
Machinists Union District 751
White House
Bill Dugovich
Society of Professional Engineering Employees In
Aerospace
Commercial Airplanes Division
Continental Airlines
AirTran Airways
All Nippon Airways
Air Force
Principal Financial builds pension business after going public
Principal Financial Group saw pension business grow to 6 billion dollars last year and expects 10 billion this year as it shifts to an aggressive growth strategy after the 2001 stock offering. Executives say separating selling from service helps top sellers focus on acquiring clients while others handle post sale support.
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Des Moines
Principal Financial Group
Michael Daly
Lariviere
Alliant Energy sells affordable housing division
Alliant Energy sells its affordable housing businesses Heartland Properties and Capital Square Financial Corp. to multiple buyers for about 105 million dollars as part of a debt reduction plan. The assets have sponsored more than 5 700 units worth over 350 million dollars in Wisconsin Iowa and Minnesota. Buyers were not disclosed per their request. About 19 Madison employees will transfer to buyers take other Alliant roles or receive severance.
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Annie’s
Wakefield
Mass
Frontier Natural Products Co-op
Norway
Iowa
Frontier Natural Products
Dave DeWitte
de Gazette
Alliant Energy
Heartland Properties
Capital Square Financial Corp
Madison
Chris Schoenherr
Capital Square Financial
Alliant
Gas prices drop slightly across Iowa in July
Iowa self serve regular rises from $1.43 to $1.53 with an average of $1.47 a gallon. Diesel at $1.44 and ethanol blends at $1.45, propane at 93 cents, No 2 heating oil steadies at $1.07. Analysts expect possible low 1.40s next month barring supply disruptions from hurricanes.
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Ine Gazette
Iowa
Iowa Department of Natural Resources
Ames
Cedar Rapids
Davenport
DNA
Jennifer Moehlmann
U.S
Gulf Coast
Moehlmann
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