Market rally lifts indices as trading turns higher
Stocks rebound on firmer bond market with the Dow rising 27.37 to 3656.41. Procter & Gamble and United Fire advance while Iowa names show mixed gains. The Limited posts higher first quarter profits on sales gains, and Michaels to acquire Leewards Creative Crafts for about 57.7 million. Wheat futures dip as Russian demand remains weak and Canada or Europe seen as alternatives.
MENTIONED IN THIS ARTICLE
Iowa
Procter & Gamble
United Fire
Michaels Stores Inc
Leewards Creative Crafts Inc
Michaels
Sam Wyly
Irving
United States
Canada
Cedar Rapids
Souvenir Inc plans Ced ar Rapids expansion through Ritepoint deal
Souvenir Inc plans to acquire Ritepoint division of Western Publishing Co in New York. The move would more than double Souvenir's Cedar Rapids employment and align Ritepoint’s pens with Souvenir’s products. Joe Romanell says the LOI is negotiating to close by month end with management to run both firms. Louis Hunt notes Ritepoint may stay separate at Cedar Rapids or relocate part of its operations.
MENTIONED IN THIS ARTICLE
Souvenir Inc
Cedar Rapids
Souvenir
F Ave
Ritepoint
Western Publishing Co
New York
Bitepoint
St. Louis
Joe Romanell
Romanell
Louis Hunt
Rite Have
Hunt
Rite Point
Hon Industries expands stock option for employees
Hon Industries shareholders vote to broaden the employee stock purchase plan at 85 percent of market price, adding 500,000 more shares and allowing up to 20 percent of salary to be invested. The move accompanies solid growth with record profits and rising first quarter earnings. Major leaders cited growth avenues including ready-to-assemble furniture and home office markets, plus potential foreign sales and joint ventures.
MENTIONED IN THIS ARTICLE
Steven P. Rosenfeld
Muscatine
Hon Industries
Stanley Howe
Nancy Fuhlman
Hon Co
Hon
Fortune
Howe
Michaels
Bigger corn and soybean crops projected by Agriculture Department
The Agriculture Department forecast shows corn rising to 8.7 billion bushels, up 38 percent from 1993-94, and soybeans at 2.1 billion bushels up 16 percent. Winter wheat is seen at 1.66 billion bushels, down 6 percent from last year, with yields and acres affected by scattered weather and pests.
MENTIONED IN THIS ARTICLE
U.S. Department of Agriculture
Agriculture Department
Department
International Paper poised to capitalize on improving markets
John Georges, chairman and CEO, told Dallas shareholders the forest products company expects stronger sales in 1994 amid higher home building and timber restrictions in the Pacific Northwest. Despite 1993 weak profits, the firm holds 6 million acres in the South and a 24 percent stake in Carter Holt Harvey, aiding Pacific Rim timber access. board elections included Patrick Noonan of The Conservation Fund.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
International Paper Co
Dallas
Europe
International Paper
Evergreen
Cedar Rapids
Gazette Tracks
John Georges
Pacific Northwest
Georges
New Zealand
Carter Holt Harvey
Pacific Rim
Patrick Noonan
Noonan
The
Conservation Fund
America
Purchase
N.Y
Also Mentioned on This Page
the Limited Inc
the Limited
MidAmerica
MidAmerica Savings Bank of Waterloo
Iowa National Bankshares
Iowa City
Decorah
Vinton
Waterloo
Chicago Board of Trade
U.S
USDA
Doug Hjort
Bortom
Doreen
FDIC
C.R
M. Romanell
Ritepoint Ces
Joe Romanel
Existing Resource
Bemrose
McCleerypany Inc
Washington
George Washington
SS Aredance
Northland Square
Collins Road
Northland Avenue
Sansone Group Inc
New Jersey
Jim Miller
Bob Zimmerman
Bob Mickey
First Avenue
Cheaik-Sayers
Honda
Jim Aronson
Gazette
Penny Saver
the Gazette
Linn County
Mori
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