Stocks rebound near records on favorable data
The Dow rose 83.70 to 9147.07 as the market gained on a second day of positive data. Advancers led 8 to 5 on the NYSE with 581.97 million shares traded. Eastern Iowa stocks showed mixed moves with gainers outnumbering losers. Major movers included AEGON up to 137 11/16 and Gillette at 117 1/4, while McLeod and Penford edged lower.
MENTIONED IN THIS ARTICLE
Dow Jones
New York Stock Exchange
Iowa
AEGON
Gillette
Procter & Gamble
Eastman Kodak
U.S. Cellular
Rockwell
McLeod
Penford
HeflerFncia Transport
EDS Corp
Pride
Ida Tee Nor
American Stock Exchange
toaxCo
GreyWest
I Ag
Biotech
Standard & Poor's Finance
Telecomprance
Wilshire Associates
Associated Press
Toyota Donates 92 Older PCs to Cedar Rapids Groups
Toyota Financial Services Center donated 92 computers valued at about $50,000 to 37 Cedar Rapids area community organizations Friday. Recipient groups include social service agencies schools churches and libraries nominated by Toyota associates. Toyota is building a $15 million headquarters at 5005 N River Blvd Cedar Rapids due for completion in January 1999.
MENTIONED IN THIS ARTICLE
Toyota Financial Services Center
Cedar Rapids
Toyota Associates
Toyota
N. River Blvd
McLeodUSA Creates NewCom Companies Inc Through Acquisition
McLeodUSA Inc. acquires NewCom Technologies and NewCom USP Services of West Des Moines and merges them into NewCom Companies Inc. The combined unit will operate under McLeodUSA with its current management as a separate business unit. Terms were not disclosed. NewCom offers network engineering design and mapping for cable and telecom clients nationwide.
MENTIONED IN THIS ARTICLE
McLeodusa Inc
NewCom Technologies
NewCom Usp Services
West Des Moines
NewCom Companies Inc
McLeodusa
NewCom
Friday’s founder group to buy Houlihan's Restaurant Group
Dan Scoggin leading Scoggin Ventures says a group tied to Friday's founder will acquire Houlihan's Restaurant Group Inc. The deal provides a cash infusion for Houlihan's 102 restaurants operating as Houlihan's Bristol Darryl's and J Gilbert in Kansas City.
MENTIONED IN THIS ARTICLE
T.G.I. Friday’s
Houlihan's Restaurant Group Inc
Kansas City
Bristol
Darryl’s
J. Gilbert
UAW Rejects Case Contract in Major Automotive Move
United Auto Workers members rejected a tentative long term contract with Case Corp affecting about 3300 workers across Racine Wisconsin Burlington Iowa East Moline Illinois Burr Ridge Illinois and St Paul Minnesota. Production will continue at the plants with no new talks scheduled. The union has been without a pact since March 29.
MENTIONED IN THIS ARTICLE
United Auto Workers
Case Corp
Racine
Burlington
Iowa
East Moline
Ill
Burr Ridge
St. Paul
Minn
UAW
Savings bonds rates drop under Treasury announcement
The Treasury Department said rates on Series EE savings bonds issued after May 1 1997 will be 5.06 percent from now through October, down from 5.59 percent previously and 5.68 percent a year ago. The rate is derived as 90 percent of the average yield on five year Treasury notes. Bonds redeemed before five years incur a three month penalty. Earlier issues from May 1995 to April 1997 drop to 4.47 percent for six months, down from 4.53 percent.
MENTIONED IN THIS ARTICLE
U.S
Treasury Department
Treasury
APAC to Acquire ITI in $155.2 Million Telemarketing Merger
APAC TeleServices Inc. to buy ITI Marketing Services Inc. for 155.2 million dollars in cash. The deal creates a telemarketing giant with 90 calling centers in 19 states and about 25 000 employees. The merger dilates APACs leadership in inbound and outbound services and is targeted to close by end of May. The combined firm will leverage ITIs management strength and APACs platform. Theodore Schwartz remains chairman while Marc Simon leads as president and COO. Raymond Hipp of ITI will report to Simon and join APACs board.
MENTIONED IN THIS ARTICLE
George C. Ford
ITI
Wall Street
APAC
Cedar Rapids
Omaha
Theodore Schwartz
Schwartz
Marc Simon
Simon
Raymond Hipp
Hipp
Iowa economy holds strong as summer nears amid modest growth
Creighton University economist Ernie Goss notes the Mid-American Business Conditions Index shows Iowa in solid expansion with an April index of 59.2 and a jump in the state's production index to 64.6, even as the nine state region eases growth. Kansas leads the region with 67.5, Arkansas at 52.2. Weak export demand and tight labor markets shape inflation and profits.
MENTIONED IN THIS ARTICLE
Midwest
Iowa
Creighton University
Ernie Goss
Federal Reserve
Goss
Nebraska
Arkansas
Kansas
Minnesota
Missouri
North Dakota
Oklahoma
South Dakota
New crop insurance program under GAO scrutiny
Congressional auditors say the new revenue based crop insurance could cost the government more than traditional coverage. They warn premiums may overcharge some farmers while undercharging others and note 1996 Plains wheat losses would have raised claims by 172 million.
MENTIONED IN THIS ARTICLE
Washington
Congressional
General Accounting Office
Congress
Plains States
Treasury
GAO
Thomas Cook
Agriculture Department
Federal Crop Insurance Corp
Also Mentioned on This Page
Houlihan’s
Barb King
King
Iowa News Service
Nyse Index
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