Wall Street Dips as Cohen Urges Cash Shift
Stocks fell after Abby Joseph Cohen urged clients to move some holdings to cash, with technology shares leading declines. The Dow dropped 89.74 to 10,936.11 and the Nasdaq slid 124.67 to 4,833.89 as volume rose. In Cedar Rapids Alliant Energy ratified a three year contract with IBEW Local 204 IES by 383 votes to 253. wage rises total 3.75 to 3.90 percent. College Street Billiard Club and Deli from Dave Moore eyes a four week opening at 114 E College St with 30 staff. AT&T Wireless IPO seeks 360-414 million shares at 26-32 dollars per share, potentially raising 9.36 billion.
MENTIONED IN THIS ARTICLE
Abby Joseph Cohen
Wall Street
Cohen
Goldman Sachs
New York Stock Exchange
Iowa
Quaker Oats
HON Industries
Procter & Gamble
RF Micro Devices
McLeodusa
Conexant
AEGON
International Brotherhood of Electrical Workers
Local 204-Ies
Alliant Energy
Cedar Rapids
College Street
Dave Moore
Fieldhouse
Moore
E. College St
At&t Corp
At&t Wireless Group
U.S
United Parcel Service
Best Buy earnings soar on strong fourth quarter results
Best Buy Inc reports a 51 percent rise in Q4 earnings to 78 cents a share on sales of 4.31 billion, up from 3.46 billion. Full-year earnings reach 347.1 million or 1.63 a share with sales at 12.49 billion, up from 10.07 billion. Treasury sells 21 day T bill at 5.99 percent discount rate with total bids of 54 billion for 35 billion sold.
MENTIONED IN THIS ARTICLE
Best Buy Inc
Best Buy
Treasury Department
Online shopping share of U.S. sales in Q4 1999
The report estimates the proportion of U.S. retail sales that come from online purchases in the fourth quarter of 1999. It tracks goods and services bought over the internet as a share of total sales and notes growth trends and definitions used in the measurement.
MENTIONED IN THIS ARTICLE
U.S
Biotech labels worry panel at BIO 2000 convention
Boston reports biotech labeling sparks industry concern as lawmakers push a square warning on genetically modified foods. Executives cite consumer wariness, past market losses, and a need to persuade the public of benefits amid international restrictions.
MENTIONED IN THIS ARTICLE
Boston
Surgeon General
Gene Grabowski
Grocery Manufacturers of America
Grabowski
Dennis Kucinich
Ohio
Johnson
Congress
Biotech
Doug Getter
Iowa Biotechnology Association
Consumer confidence falls for second straight month
The Conference Board says its Consumer Confidence Index dropped to 136.7 in March from 140.8 in February and 144.7 in January, signaling possible slower consumer spending as oil prices and higher interest rates bite. Analysts note ongoing growth but warn higher gas prices and rate hikes could trim spending this quarter.
MENTIONED IN THIS ARTICLE
New York
The
Conference Board
Wall Street
Federal Reserve
Lynn Franco
Judge delays ruling in Microsoft antitrust trial
U S District Judge Thomas Penfield Jackson postponed a final ruling in the Microsoft antitrust case to allow more time for a possible out of court settlement. Mediation runs to April 7 with Richard Posner guiding talks between Microsoft and the Justice Department as Bill Gates previously courted a deal in 1998.
MENTIONED IN THIS ARTICLE
Microsoft
Washington
Justice Department
U.S
Thomas Penfield Jackson
Richard Posner
Chicago
Ing Company
Bill Gates
Working poor struggle for affordable Chicago housing
Magdalena Mendez and other working poor face scant options as rents rise. A HUD report shows 5.4 million families pay over half income for housing or live in substandard conditions, up 12 percent since 1991. Congress weighs 690 million for 120000 new rental vouchers amid a strong economy widening the gap.
MENTIONED IN THIS ARTICLE
Chicago
Magdalena Mendez
HUD
Iowa
Congress
Housing and Urban
Mendez
Vidalia onions face higher prices and later arrival
Georgia farmers in a 20 county region cut Vidalia onion production leading to an estimated 10 cent per pound price rise and delayed shipments around April 25. Prices may reach 79 cents a pound before stabilizing, with extension economist Bill Thomas predicting steadier groceries.
MENTIONED IN THIS ARTICLE
Atlanta
Georgia
Delbert Bland
University of Georgia Extension
Bill Thomas
Bland
Georgia Department of Agriculture
Bobby Harris
Vidalia Onion Committee
Texas Pre
Also Mentioned on This Page
Union UK
Alliant
1.C
At&t
BizFacts
Total
Food and Drug Administration
Kucinich
Don Johnson
Grain Processing Corp
Muscatine
Heinz and
Gerber
Europe
Steve Gordon
Event Services Inc
Five Seasons Center
Mark Witner
First Union Corp
Charlotte
N.C
Witner
Fed
Gates
Andrew Cuomo
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