Wall Street quiet as investors await Federal Reserve meeting
Anxiety over rates kept trading muted with blue chips rising while tech stocks fell. Dow added 56.02 to 10,877.33, Nasdaq dropped 25.51 to 2081.92, Nasdaq down 5.3 percent over four sessions. Eastern Iowa stocks mixed. Kohl’s up, Toyota down, RF Devices down. Harper Brush Works buys National Broom Co. rebrands as Harper Brush West. Smith & Wesson sold by Tomkins PLC to Saf-T-Hammer for 15 million. liability for lawsuits assumed. purchaser's investor unnamed.
MENTIONED IN THIS ARTICLE
Wall Street
Federal Reserve
NYSE
Iowa
Kohl’s
Toyota
Smith & Wesson
Saf-T-Hammer Corp
Arizona
Saf-T-Hammer
Scottsdale
Ariz
Tomkins PLC
Tomkins
Mitchell Saltz
Security and Exchange Commission
NEW York Stock Exchange
ScheringPt
NortelNe
EMC Corp
Gembc
LucentTech
American Stock Exchange
Djia Diamnds
Intel
Cisco
Oracle
Sun Micro
Ind
Indus
Standard & Poor's
Santa Monica
Calif
Wilshire Associates
SunTrust bids for Wachovia in unsolicited 14.7B offer
SunTrust Banks of Atlanta proposes a 14.7 billion bid for Wachovia in a move that could derail First Union's 12.5 billion deal. If accepted, the combined bank would hold about 180 billion in assets, ranking ninth in the US. Wachovia, based in Winston-Salem, had agreed to be acquired by Charlotte's First Union to form the fourth largest banking firm.
MENTIONED IN THIS ARTICLE
SunTrust Banks Inc
Atlanta
First Union
U S Tractor Sales Rise in April Reports EMI
U S tractor sales climbed 12.1 percent in April per the Equipment Manufacturers Institute in Chicago. Four wheel drive units reached 610, up from 493 a year earlier, with total farm wheel tractor sales at 19,552 versus 17,439 in April 2000. Year-to-date tractor sales totaled 49,174, up 9.5 percent from the prior year. Combine sales fell 8.1 percent to 361 from 393 a year earlier, while year-to-date combine sales reached 1,376, up 33.1 percent from last year.
MENTIONED IN THIS ARTICLE
Equipment Manufacturers Institute
Chicago
U.S
Treasury bill rates mix as three month lows echo seven years
The Treasury sold 11 billion in three month bills at 3.630 percent and 9 billion in six month bills at 3.640 percent, with the discount yields implying 3.716 percent and 3.759 percent respectively. The Fed reported the one year constant maturity bill yield fell to 3.76 percent last week from 3.90 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Coralville software firm sold for 4.25 million dollars
Diversified Software Industries DSI is sold to NEXIQ Technologies of Manchester New Hampshire for 1.7 million shares worth 4.25 million. DSI remains a Coralville subsidiary with all 42 employees. NEXIQ expands in trucking diagnostics and telematics while continuing DSI projects such as IVIS and ePOD.
MENTIONED IN THIS ARTICLE
DSI
NEXIQ
James C. Griffin
Griffin
Motorola Corp
Nexxiq
Gazette
Diversified Software Industries
Nexiq Technologies
Manchester
N.H
Coralville
Rainstorms stall Iowa planting as farmers await dry spell
Iowa farmers report spotty rains hindering corn and soybean planting. Layne Twinam says ground is saturated with ponds forming, delaying replanting and prompting some rot. Statewide progress shows 67 percent of corn planted and 13 percent of soybeans, with districts ranging from 3 to 24 percent. The weather aided by recent storms left topsoil 55 percent adequate and 44 percent surplus, subsoil 61 percent adequate and 29 percent surplus.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Iowa
Layne Twinam
Crawfordsville
Twinam
Iowa Crops & Weather Report
Northwest
East
Linn
Johnson Counties
Fed Expected to Cut Interest Rates Again
The Federal Reserve, after four cuts this year, is anticipated to reduce rates further, possibly by half a point, as industrial output fell 0.3 percent in April. Some economists favor a quarter-point move amid mixed signals from retail sales and consumer sentiment.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Alan Greenspan
Stuart Hoffman
PNC Financial Services Group
Pittsburgh
Jerry Jasinowski
National Association of Manufacturers
America
University of Michigan
Lynn Reaser
Banc of America Capital Management Inc
St. Louis
Greenspan
Spinoff Prompts Promotions at Rockwell Collins
Gazette staff report Neal Keating and Bob Chiusano named Monday to new executive posts at Rockwell Collins amid a sweeping organizational change ahead of its planned spinoff from Rockwell International. Chiusano will supervise Government Systems and Keating will lead Commercial Systems and major air transport and regional businesses. The spinoff is slated for by end of June.
MENTIONED IN THIS ARTICLE
Chiusano
Rockwell Collins Government Systems
Keating
Rockwell Collins Passenger Systems
Construction Set to Begin on Urbana Super 8 Motel
Benton County Development LLC led by Harold and Dale Robinson and hotel executive Jan Lemmons will break ground at 9 am Wednesday for a 45 room Super 8 at the 1 380 Urbana interchange across Hutton Drive from Huttons RV Center. The hotel will include an indoor pool five suites with fireplaces and a large parking area for big rigs. Expected completion is late summer. Lemmons has pursued a Urbandale site since 1994 with financing from Iowa Securities of Waterloo and the Robinsons. Support from son in law William Holt and his grandfather Bob Elliott is noted. Traffic generators include local social events interstate trucking and Cedar Rapids overflow guests.
MENTIONED IN THIS ARTICLE
Gazette
Urbana
Benton County Development LLC
Harold and Dale Robinson
Shellsburg
Jan Lemmons
Hiawatha
Hutton Drive
Hutton
R.V. Center
Lemmons
Urbandale
Robinsons
Iowa Securities of Waterloo
William Holt
Bob Elliott
The
Robinsons and Lemmons
Cedar Rapids Market
Pay phone rates rise to 50 cents in 14-state region
Qwest Communications announced a rate hike from 35 to 50 cents for local pay phone calls across 14 states including Iowa. The change begins immediately and will roll out within four months across 96 000 phones. Emergency 911 calls stay free as maintenance costs rise and wireless use grows.
MENTIONED IN THIS ARTICLE
Qwest
US West
Baby Bell
Kate Varden
Varden
Also Mentioned on This Page
Fairfield Firm
Harper Brush Works Inc
Fairfield
National Broom Co
Stockton
National Broom
Harper Brush West
Harper Brush Works
Home Depot
Tractor Supply
True Value
Djia
SunTrust
Wachovia
France
Mont Buena Vista
Er Bros
Coralville Software Firm
By Dave DeWitte
NEXQ
OB Griffin
Steve Berger
Wellman
Iowa Agricultural Gazette Graphi Statistics
Rockwell
Neal Keating
Commercial Systems
Bob Chiusano
Government Systems
Nyse Index
Amex
Che
Biotech
Telecom
Transport
Br Undiano
Associated Press
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