Markets rally as Microsoft surprise boosts tech shares
Investors ignore antitrust risk as Microsoft climbs to 737 16 and the Dow gains 77.87 to 10 811.78 while Nasdaq rises 97.42 to 3 958.08. NYSE volume runs 1.16 billion with Eastern Iowa names like RF Micro Devices, Wal-Mart and U S Cellular among movers.
MENTIONED IN THIS ARTICLE
Microsoft
Justice Department
New York Stock Exchange
NYSE
Iowa
RF Micro
Wal-Mart
U.S. Cellular McLeod USA
Heartland Express
Gillette
At&t
Philip Marr
American Stock Exchange
Xcelera.com
Intel
Amex
DOW Jones
Che
Ind
Biotech
Indust
Standard & Poor's Insurance
Tiom
Wilshire Associates
Associated Press
Biotech crops spark debate at Minneapolis conference
The conference drew Elizabeth Archerd of the Wedge Community Co op and Gary Joachim near Minneapolis to discuss gene enhanced crops. Archerd warned of a new order and inequality while Joachim cited lower herbicide costs and farmer benefits. A poll by Alliance for Better Foods found mixed views with 50 percent optimistic long term and 32 percent doubting farmer/company benefits. Experts note public awareness is low and ethics and timing complicate adoption.
MENTIONED IN THIS ARTICLE
Marlene Lucas Wazette
Minneapolis
United States
Mexico
Elizabeth Archerd
Archerd
Wedge Community Co-op
Gary Joachim
Biotech
Joachim
U.S
Alliance For Better Foods
Iowa State
ING Group to Acquire ReliaStar for 6.1 Billion
ING Group of the Netherlands will buy ReliaStar Financial Corp., the eighth largest publicly held life insurer in the U.S., in a 6.1 billion deal. The agreement covers 5.1 billion for ReliaStar stock and 1 billion of debt, expanding ING's international reach after its 1997 purchases of Equitable of Iowa and Furman Selz. ReliaStar offers life insurance annuities employee benefits retirement plans and mutual funds with 38.4 billion dollars in assets under management.
MENTIONED IN THIS ARTICLE
ReliaStar Financial Corp
ING Group
Netherlands
ING
Equitable of
Iowa
Furman Selz
ReliaStar
Clinton expands GPS accuracy for civilian use nationwide
The United States will provide civilian GPS with military-grade accuracy after an order signed by President Clinton. The signal will no longer be jammed for civilians at midnight, though regional blocks can be applied. The military will continue to use an encrypted, highly precise system for precision weaponry.
MENTIONED IN THIS ARTICLE
Clinton
United States
Clinton Administration
Rexall Sundown Sold to Dutch Firm for 1.7 Billion
Royal Numico NV of the Netherlands agreed to buy Rexall Sundown Inc of Boca Raton Florida for about 1.7 billion dollars, adding a strong U S position in nutritional supplements and totaling more than 4.5 billion in annual sales. The deal is expected to yield 22.8 million dollars in annual savings.
MENTIONED IN THIS ARTICLE
Royal Numico NV
Rexall Sundown Inc
Rexall
Boca Raton
Fla
Numico
Namico
Wells Fargo ATMs Preview Movies on New Multimediа Units
Wells Fargo rolls out ATM upgrades in San Francisco turning cash machines into multimedia centers. The Web enabled units use Pentium III processors to display movie previews news headlines and graphics while remaining non internet connected. customers worry longer lines despite easier touch screen operation and animated interfaces.
MENTIONED IN THIS ARTICLE
John Scally
Wells Fargo Bank
San Francisco
Universal Pictures
Hollywood
Glenn Lie
Lie
Wells
Intel Corp
Planting advances as Iowa farmers race ahead
Iowa farmers report 65 percent of corn acres planted and 9 percent of soybeans seeded as forecasts of drought push futures higher. Chicago board prices rose with July soybeans at 5.67 a bushel and July corn at 2.44 as rain fell in Chicago. Moisture was below normal with topsoil 62 percent short or very short and subsoil 82 percent short or very short across the state.
MENTIONED IN THIS ARTICLE
Chicago Board of Trade
Midwest
Chicago
Iowa
UroSurge to be Acquired by Timm Medical Technologies
Coralville based UroSurge Corp signs a letter of intent to be bought by Timm Medical Technologies of Eden Prairie Minnesota. The deal may close May 31 and aims to retain UroSurge research staff while evaluating whether to keep Iowa City manufacturing.
MENTIONED IN THIS ARTICLE
UroSurge
Timm Medical Technologies
Timm
Gerald Mattys
FDA
Mattys
Iowa City
Magliochetti
Manufacturing shows further growth in April
The U S manufacturing sector grew again in April though slower than March as raw material prices rose less. Analysts say the data, plus a government report showing March construction spending up, could push Fed policymakers to raise rates more aggressively later this month to curb inflation.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Also Mentioned on This Page
Thomas Hoban
Falck Zepeda
North Carolina State University
Vincent Hagerty
Institute For Food Laws and Regulations
Michigan State University
Hagerty
Marlene Lucas
Marlenei
Rexall Sundown
Treasury
Treasury Department
BizFacts
Sweden
Wells Fargo
By Marlene Lucas
The
Iowa Agricultural Statistics
Coralville UroSurge
National Association of Purchasing Management
Call Eastern Iowa Enterprise Council
EIEC
Non-Profit Organization
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