Wall Street ends lower as weak data spooks traders
Choppy trading on Monday on Wall Street as weaker than expected economic data and war fears kept markets anxious. Dow fell 53.22 to 7887.39 and Nasdaq dropped 1.728 to 1320.29 amid light volume and more decliners. United Airlines announced a $20 to $25 million monthly revenue gain from higher business travelers after cutting fares. The Johnson family sold LBJ broadcasting interests to Emmis Communications in a cash deal pending regulatory approval. Short-term Treasuries yielded mixed results with three-month bills at 1.17 percent and six-month bills at 1.13 percent.
MENTIONED IN THIS ARTICLE
Araq
Wall Street
New York Stock Exchange
United Airlines
Doug Hucker
United
Chicago
Denver
Lyndon B. Johnson
Lbjs Broadcasting Co
Austin
Emmis Communications
Indianapolis
Emmis
Texas Monthly Magazine
Jeff Smulyan
Lady Bird Johnson
Congress
Treasury
Treasury Department
Gerstaw Fivesiors
Midwest economy stays steady amid drought and war fears
Creighton University survey shows the February Midwest Business Conditions Index at 53.9, above 50 and signaling expansion though down from January. Iowa and Minnesota data rose, with strong new orders, while drought and higher energy prices influence rural Nebraska and neighboring states.
MENTIONED IN THIS ARTICLE
Omaha, Neb
Midwest
Creighton University
Goss
Iowa
Ernie
Auto sales fall as incentives fail to lift demand
U S automakers report February sales declines amid war fears and heavy incentives. GM down 19 percent, Chrysler down 4 percent, Ford flat with production cut plans looming for Q2. Nissan Hyundai Mitsubishi among foreign makers also down.
MENTIONED IN THIS ARTICLE
Detroit
Iraq
U.S
General Motors Corp
DaimlerChrysler AG
Chrysler Group
Ford Motor Co
Nissan
Hyundai
Mitsubishi
Ford
Chrysler
WorldCom layoffs hit Cedar Rapids in bankruptcy downsizing
Cedar Rapids saw up to 50 or fewer job cuts last Friday as WorldCom nears its plan to cut about 5,000 positions globally in bankruptcy restructuring. State notice rules and local workforce impact are noted amid broader deficits and a 4 percent cost cut target under CEO Michael Capellas.
MENTIONED IN THIS ARTICLE
The
Gazette
Cedar Rapids
WorldCom
Noti
Fied
Ted Harms
Iowa Workforce Development
Michael Capellas
Capellas
U.S
New York
Consumer spending slips in February amid war fears
Consumers cut back in February as fears of war in Iraq and weaker finances weighed on spending. Wages, interest and government benefits rose modestly in January, while overall inflation remained low and consumer activity remained the main driver of the economy.
MENTIONED IN THIS ARTICLE
Econom
United States
Pearson halves loss as Education unit drives 2002 gains
Pearson reports a narrowed loss of 224 cents per share for 2002, with Pearson Education lifting sales 11 percent to 2.75 billion and profits 22 percent to 326 million. US school revenue fell 16 percent while US professional revenue rose 55 percent. FT Group revenue fell 8 percent but profits rose 8 percent. Penguin Publishing climbed 5 percent in sales with 11 percent higher profits.
MENTIONED IN THIS ARTICLE
Gazette Pearson PLC
Pearson Education
Pearson
Pearson Educational Measurement
Pearson Government Solutions
Iowa City
Cedar Rapids
Coralville
United Kingdom
U.S
Financial Times Group
Penguin Group
New York Times
Peasy
Marjorie Scardi
Penguin
Scardine
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Nasdaq
LBJ
CPA
FR Srey
Wis
Minnesota
Ence
Midwestern
Nebraska
Dakotas
Kansas
Jim O'Connor
Vice Presi
Gary Dilts
Chrysler's
Nior
Dilts
Sonny Jenkins
Philadelphia
Mike Gross
Chapman Ford
By Dave DeWitte
Tions
Diamond
Second Avenue SE
Washington
Ndmz
Demonn Mendes
Stimets
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