Markets slip as earnings weigh on stocks amid mixed inflation signals
Stocks fell as weaker corporate results overshadow signs of cooling inflation. The Dow dropped 48.44 to 10 685.12 while the Nasdaq declined 112.88 to 3 981.57. Merck rose after a strong earnings report, lifting pharma shares. trading volume was 1.08 billion on the NYSE with more decliners than advancers. Eastern Iowa stocks saw 11 gainers, 31 losers, and four unchanged. Specific movers included National Computer Systems up 3.31 to 56.44 and Procter & Gamble up 2.88 to 62, while Conexant fell 3.44 to 36.50 and Wal-Mart slid 2.25 to 57.44. WorldCom dropped 2.06 to 43.06 and Penford eased 1.31 to 18.12.
MENTIONED IN THIS ARTICLE
Merck
WorldCom
Penford
NEW York Stock Exchange
Che Industrial
LucentTech
Finance Transport
Atat Corp
Pfizer Myna
NortelNet
American Stock Exchange
Nets
JDS Unis
Cisco S
EricTels
DOW Jones
Amex
Uli
Biotech
Indust
Standard & Poor’s Insurance
Telecom
Transport
Transpt
Utilities
Inds
Wilshire Associates
Associated Press
P&G raises laundry detergent prices across Tide Cheer Gain Era Bold
Procter & Gamble will raise average detergent prices by 6.4 percent in the United States effective Sept. 18 to offset higher raw materials and research costs. The increases apply to Tide Cheer Gain Era and Bold, with powdered detergents up 5 percent and liquids up 8 percent.
MENTIONED IN THIS ARTICLE
Procter & Gamble Co
United States
Molly Humbert
P&g
Tide
Cheer
Gain
Era
Bold
Iowa City
Treasury bill rates mixed as auctions yield changes
The Treasury sold 8.5 billion in three month bills at 6.010 percent and 7.5 billion in six month bills at 6.010 percent. The new discount rates understate returns at 6.187 percent for three month bills and 6.284 percent for six month bills. The Fed reported one year bill yields rose to 6.11 percent from 6.09 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Iowa crops hold up under cool dry spell in USDA report
USDA figures show Iowa cool dry week with average temps 6.4 to 10.6 degrees below normal and only 0.23 inches of rain. Corn 25 percent excellent, 53 percent good, 16 percent fair, 2 percent poor. soybeans 19 percent excellent, 55 percent good, 20 percent fair, 5 percent poor. Weeds up. growers like Jim Lucas report generally good conditions and near‑average progress given cooler weather.
MENTIONED IN THIS ARTICLE
USDA
Jim Lucas
Central City
Lucas
Iowa
Rockwell Collins Supplies Gear for New Boeing 767-400ER
Rockwell Collins will supply autopilot and large format displays for all 767-400ER aircraft. The Cedar Rapids company has long supplied Boeing and ties to Collins Radio extend back to 1937. The 767-400ER adds fuselage length, upgraded cabin, and flight deck with flat panel displays. Delta Airlines is set to receive the first unit next month, boosting seating by about 15 percent.
MENTIONED IN THIS ARTICLE
Collins Radio Co
Cedar Rapids
Rockwell Collins
Boeing
Delta Air Lines
Boeing Co
Gymboree recalls plush toys over sewing needle risk
Gymboree Corp recalls 19 000 plush shape sorter toys and 12 000 plush stacking toys after a customer found a sewing needle in stuffing. No injuries reported. Toys sold nationwide 1998 to 2000 for about 20 dollars. Return for refund. Call 1 800 222 7758 for info.
MENTIONED IN THIS ARTICLE
Washington
Gymboree Corp
U.S. Consumer Product Safety Commission
Gymboree
Play & Music Stores
Gymboree World Wide
Telekom plans $46 billion U S buy of VoiceStream Wireless
Deutsche Telekom AG moves into the U S market with a proposed 46 billion takeover of VoiceStream Wireless Corp, aiming to expand to 375 million customers globally. Investors reacted as both stocks dropped over 10 percent amid regulatory scrutiny and questions about the deal's scope.
MENTIONED IN THIS ARTICLE
Deutsche Telekom
U.S
Frankfurt
Germany
Europe
Deutsche Telekom AG
VoiceStream Wireless Corp
VoiceStream
Washington
United States
Verizon Wireless
Alliant Energy reports flat second quarter earnings
Alliant Energy Corp. of Madison Wisconsin reported second quarter 2000 earnings of 42.3 million dollars or 0.54 per share, versus 38.5 million dollars or 0.49 per share in 1999. Excluding non cash items, EPS was 0.22 in both years. Higher electric margins and trading gains boosted results.
MENTIONED IN THIS ARTICLE
Priceline.com
Wall Street
First Call
Thomson Financial
Dow Jones News Service
Alliant Energy Corp
Madison
McLeodusa Inc
McLeodusa
Alliant
Alliant Energy
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Djia
Chicago Board of Trade
Midwest
U.S. Department of Agriculture
BizFacts
Kat
Towa A
C.R
George C. Ford
Burlingame, Calif
Nyse Index
Wireless Corp
Call Eastern Iowa Enterprise Council
The
EIEC
Non-Profit Organization
Lighthouse Communications
WWW
Lh.net
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