Wall Street mixed after housing data midpoint of Fed meeting
Stocks closed mixed as investors awaited the Federal Reserve policy outlook and timing of rate moves. May existing home sales rose 2.4 percent, below economists’ 2.8 percent forecast, sending the Dow down 16.10 to 8322.91 while the S&P 500 gained 2.06 to 895.10 and the Nasdaq slipped 1.27 to 1764.92.
MENTIONED IN THIS ARTICLE
Federal Reserve
National Association of Realtors
Standard & Poor
Treasury auction fuels drop in yields on two year notes
A strong Tuesday auction of $40 billion in two year notes pushed yields down for a third straight day. Indirect bidding reached 69 percent signaling strong foreign demand as the government plans a record $104 billion this week to fund stimulus and bailout programs.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Kroger Profit Rises as Shoppers Eat at Home
Kroger Co reports first quarter profit up 12.7 percent to 435.1 million dollars or 66 cents a share as recession-hit households shift to at-home meals and store brands. Sales decline to 22.8 billion from 23.1 billion due to lower gas prices at service stations.
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Kroger Co
Kwik Shop
Cedar Rapids
Kroger
Iowa Telecom to Buy WH Comm in Minnesota Deal
Iowa Telecommunications Services announced it will acquire substantially all assets of WH Comm for 1.1 million dollars subject to regulatory approval. WH Comm provides telephone and high speed DSL Internet in several communities near Minneapolis and is Iowa Telecom’s third Minneapolis area acquisition in 18 months.
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Iowa Telecommunications Services
Iowa Telecom
WH Comm
Minneapolis
Unemployment Rises in Cedar Rapids and Iowa City May
May jobless rates climbed in Cedar Rapids and Iowa City as unemployment in Cedar Rapids reached 5.4 percent, up from 4.8. statewide rate rose to 5.8 percent while Ottumwa and Fort Madison Keokuk posted higher metro rates. The national rate increased to 9.4 percent.
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Ne Gazette Metro
Iowa City
Cedar Rapids
MSA
Cedar Rapids Msa
Iowa
Elisabeth Buck
Fort Madison-Keokuk
Ottumwa
Whirlybird opens satellite helicopter school in Iowa City
Bran don Speers of Oxford tours a two seat Robinson R22 with FAA instructor Adam Henderson of Whirlybird Helicopters at Iowa City Municipal Airport. The Utah based firm partners with Iowa Flight Training to offer five level helicopter training from private to instructor with costs from about 12750 to 63900 dollars. They aim for two students per month and potential local contract work, hoping to change local perceptions about civilian helicopter flying.
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Owa
Iowa City
Brandon Speers
Oxford
Speers
Adam Henderson
Midwest
Whirlybird Helicopters
Henderson
Ogden
Utah
Whirlybird Helicopter
Iowa
P&n Flight School
Marion
Iowa Helicopter
Ankeny
Adam Wilkerson
Wilkerson
Whirlybird
Uterpe
the Gazette
Boeing delays first test flight of 787 jetliner again
Boeing Corp delays the inaugural test flight of its 787 due to needed reinforcement near the wing fuselage join. The schedule for the flight and first customer deliveries will be announced weeks later. Rockwell Collins will supply cockpit gear and Alcoa will provide quad cities components.
MENTIONED IN THIS ARTICLE
Boeing
Chicago
Boeing Co
Rockwell Collins
Cedar Rapids
Alcoa
Quad Cities
Are fears of inflation overblown
Investors shift from deflation scare to inflation worries as stocks rise and energy prices surge yet official data show falling wholesale prices and a shrinking consumer index. Analysts note excess capacity and weak demand dampening near term inflation risk.
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Minnesota
George C. Ford
Iowa Flight Training
Adam
George. Ford
Gazcomm.com
Jorge C. Ford
The
Ment
Airbus SA
U.S. Treasury
Pequot Capital Management
Byron Wien
Citigroup
Steven Wieting
Mairs
Power Balanced Fund
William Frels
Marks Jarvis
Chicago Tribune