Markets drift to mixed close on oil price and profits
Wall Street ended mixed as oil price pressures weigh on the economy and a bullish Intel forecast spurs some profit taking. Dow rose 9.61 to 10512.63 while Nasdaq fell 13.91 to 2063.00 as airlines push fare increases amid high fuel costs.
MENTIONED IN THIS ARTICLE
Wall Street
Intel Corp
New York Stock Exchange
Northwest Airlines Corp
Delta Air Lines Inc
Northwest
Continental Airlines Inc
UAL Corp
United Airlines
Terry Trippler
CheapSeats.com
Ebbers Seeks Lighter Sentence From Judge
Bernard Ebbers asks U S District Court in New York for a lighter sentence than life, citing age 63, health, good character and low risk of reoffending after his March conviction on nine fraud, conspiracy and false filing counts. Sentencing set for July 13.
MENTIONED IN THIS ARTICLE
WorldCom Inc
Bernard Ebbers
U.S. District Court
Southern District of New York
Ebbers
Saks to file quarterly report by Sept. 1 amid probe
Saks Inc. will postpone its first quarter earnings filing with the SEC as investigations into alleged improper vendor collections continue. The Birmingham based operator expects to file by September 1, replacing the extended deadline of Tuesday for the period ended April 30.
MENTIONED IN THIS ARTICLE
Saks Inc
Securities and Exchange Commission
SEC
Birmingham
Younkers
Gazette News Services
U.S. Trade Deficit Widens as Oil Costs Spur Imports
The April deficit reached 56.96 billion as imports rose 4.1 percent to 163.38 billion led by foreign oil. Exports climbed 3 percent to 106.42 billion boosted by aircraft, chips, machinery, and cars. The yearly deficit pace tops 686 billion, fueling debate over CAFTA and trade policy.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Tas
China
Carlos Gutierrez
Beijing
Edgewood Market retail center to begin construction
Construction starts this month on Edgewood Market a 5.2 acre retail strip on Cedar Rapids west side. Developers Gerry Ambrose and Hunter Parks expect two main buildings with a walk in dining area and a perimeter lot likely for a chain restaurant. National and local tenants are anticipated including a sports themed hair salon and cell phone stores with openings planned late this year or early next.
MENTIONED IN THIS ARTICLE
The
Gazette
Cedar Rapids
Edgewood Market
Gerry Ambrose
Hunter Parks
Ambrose
David Bader
Sports Clips
West Side
Bader
Blairs Ferry Road
Coralville
Stephen Emerson
Howard R. Green Co
Edgewood Road
Wilson Avenue
Projected corn prices fall below two dollars per bushel
The USDA projects season average corn prices for 2005 06 at 1.55 to 1.95 per bushel due to prospects of a good crop and large carryover. Last year’s price ranged 2.00 to 2.10 per bushel. Iowa estimates 1.85 to 2.50 per bushel, both below ISA cost budgets of 2.71.
MENTIONED IN THIS ARTICLE
U.S. Department of Agriculture
Iowa
Robert Wisner
Iowa State University
ISA
Market notes on corn and soybeans price outlook Iowa
Agriculture analysts discuss corn price weakness benefiting livestock feeders while government marketing programs aid producers. ISU and industry estimates place 2005-06 corn ending stocks around 2.54 billion bushels with soybeans at 255 million bushels, and season average soybean prices projected between 4.95 and 5.95 per bushel.
MENTIONED IN THIS ARTICLE
Jim Nemitz
Midwest Strategic Investments
Cedar Rapids
Brad Dennis
Bump Investor Service
ISU
McLeodUSA Raises Cable Rates July 1
Cedar Rapids based McLeodUSA will raise most cable plans on July 1 with the popular Preferred Service up 18.2 percent from 31.25 to 36.95. Basic rate remains 8.95. Other plans climb 5 to 10 dollars. ESPN lineup changes and Sportsman Channel added. Bryce Nemitz cites rising programming costs.
MENTIONED IN THIS ARTICLE
Dave DeWitt
Gazette
Cedar Rapids
McLeodusa
Bryce Nemitz
ESPN
Citigroup to pay 2 billion in Enron settlement
Citigroup will pay 2 billion to settle a class action over its role in Enron's accounting fraud and collapse in 2001. About 50 000 holders led by UC Regents sued others for assisting Enron to hide debt and raise money. Citigroup denies any lawbreaking.
MENTIONED IN THIS ARTICLE
Citigroup
Enron
New York
Citigroup Inc
Enron Corp
University of California’s
Board of Regents
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Maytag Corp
International Association of Machinists and Aerospace Workers
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Delta
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WorldCom
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Congress
Sen
Byron Dorgan
D-N.d
CAFTA
Edgewood
Mostland
By Dave DeWitte
David.dewitte
Gazettecommunications.com
By Marlene Lucas
Marlene.lucas
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USDA
Jpmorgan Chase & Co
William Lerach
University of California
Chg
APAC
McLeod USA
Aegon NV
Alcoa Inc
Mestek
Alliant Energy
Nash Finch
Arch Dan Mid
Bandag Inc
Pearson PLC
Penford Corp
Caseys Gen Store
PepsiCo
Columbus McKinnon
Procter & Gamble
Comel Fed
Qwest Commun
Deere Co
RF Micro Devices Dillards Inc
Fastenal Co
Ralcorp Holding
New
Featherlite Inc
Rockwell Collins
Fiserv
Gen Mills
Sealed Air
Gillette Co
HM Corp
Skyworks Solution
Heartland Exp
Tanger Factory
Terex Co
Heinz
Toyota Mot
Intl Paper
Old Fire Cas Keane Inc
Kohis Corp
US Bancorp
Longon File
US Cellular
Unova Inc
Macc Pro Eat
Verizon Comm
MCI Inc
WalMart Stre
Marin & McLennan
Wells Fargo & Co
Weyerhauser
Ese
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