Oil prices rise as banking plan boosts market
Oil prices briefly topped 54 dollars as investors bet a new banking crisis plan could spur growth. May crude settled at 53.80 on the Nymex, up 1.73. U S pump prices hit about 1 956 per gallon. Five Velocity Sports Performance workers lose their jobs as the clinic closes March 31. The Cedar Falls track star Joey Woody left the company after joining the University of Iowa.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
U.S
Auto Club Aaa
Wright Express
Oil Price Information Service
Velocity Sports Performance
Velocity
St. Luke’s Health Care
North Park Pl
Joey Woody
Cedar Falls
University of Iowa
Walgreen profit slips on restructuring costs
Walgreen Co reports a 7 percent drop in profit for the fiscal second quarter due to restructuring costs as shoppers cut discretionary purchases though retail prescriptions rose. The Deerfield Illinois company earned 640 million dollars or 65 cents a share versus 686 million or 69 cents a year earlier, including 93 million dollars of restructuring expenses. Sales rose 7 percent to 16.48 billion dollars from 15.39 billion, with Thomson Reuters consensus at 66 cents per share on 16.42 billion dollars in sales. Shares rose 2.29 dollars to 26.58 in Monday trading.
MENTIONED IN THIS ARTICLE
Walgreen Co
Deerfield, I
Thomson Reuters
Treasury bills slip to two month lows at weekly auction
The Treasury sold 31 billion dollars of three month bills at a discount rate of 0.225 percent and 29 billion of six month bills at 0.390 percent, both down from last week. Prices implied by the discounts show a $10 000 three month bill at 9 994 31 and a six month at 9 980 28. Separately Ralcorp Holdings completed its acquisition of Harvest Manor Farms, boosting El Paso operations and projected to lift earnings modestly in fiscal 2009.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Ralcorp Holdings
Harvest Manor Farms
Ralston Foods
Cedar Rapids
Harvest Manor
el Paso
Texas
Ralcorp
Bids for Agriprocessors fall short of creditor needs
In Cedar Rapids a Monday bankruptcy auction for Agriprocessors failed to meet the level needed to satisfy creditors. The top bid was 5.5 million from Natural Source Holdings, far below the estimated 20 to 40 million claim total.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Cedar Rapids
Agriprocessors
Natural Sources Holdings
Paul Kilburg
Soglowek
T5 Equity Partners
Kosher Standards LLC
Natural Source Holdings
Las Vegas
Sykora Bakery Reopens With Help From Yesteryear
Ron Sykora, 64, returns from Michigan to Czech Village to help restore his grandfather’s bakery after historic floods. The Sykora family history traces the shop to 1903, with ownership passing through several generations to John Rocarek, now repairing the building.
MENTIONED IN THIS ARTICLE
Ron Sykora
Josef Sykora
Sykora Bakery
Czech Village
John Rocarek
Sykora
Cedar Rapids
Michigan
Rocarek
Cindy Hadish
Gazette
Edar Rapids
Iowa
Navy
16Th Ave
Charles Kosek
Banks Plan Lifts Stocks as Housing Data Boost Mood
Wall Street climbed after the government outline to trim bad bank assets and a stronger home sales report. The Dow jumped 497 points, the S&P 500 rose 54 points, and the Nasdaq gained about 98 as investors bet on a healing economy and reduced bad assets.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Dow
Citigroup
Standard & Poor
TIPS offer a way to deal with inflation
Inflation erodes savings making stocks seem risky. Treasury inflation protected securities or TIPS offer a guaranteed base return with semiannual interest and inflation adjusted principal, shielding long term retirement funds. Bodie argues for shifting towards TIPS during market storms while stocks lag.
MENTIONED IN THIS ARTICLE
Boston University
Zvi Bodie
Bodie
U.S. Treasury
Also Mentioned on This Page
Walgreen
Postville
First Bank Business Capital of
St. Louis
Soglonek Nahariya Ltd
Joe Sarachek
Mlic Asset Holding
Metropolitan Life Insurance
First Bank Business Capital
Dan Childers
David.dewitte
Gazcomm.com
Liz Martin
the Gazette
Yesteryear
Clara Baby
Kosek
Lumir
Lester
Don
Sheila Jan
GazetteOnline.com
Jim Dunigan
PNC Wealth Management
Citigroup Inc
Dave Rovelli
Canaccord Adams
Marks Jarvis
Chicago Tribune
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