Wall Street mixed after Intel profit warning sparks selloff
The Dow rose 0.86 to 7331.04 after a volatile session driven by Intel’s profit warning. Advancers led decliners 5 to 3 on the NYSE as heavy volume touched 533.42 million shares with several Iowa names posting gains. Rockwell slid while others like Equitable of Iowa and Procter & Gamble gained. MidAmerican Energy chairman changes noted and Carmike Cinemas eyes 105-screen expansion. Norman Borlaug honored with State Department Certificate of Appreciation. McDonalds scrapped quick serve guarantee plan after franchisee pushback.
MENTIONED IN THIS ARTICLE
Intel
Dow Jones
New York Stock Exchange
Iowa
Equitable of
Procter & Gamble
Norwest
Gillette
Maytag
Rockwell
National Computer Systems
University Athletic Club Sold to Quad Cities Investors
The University Athletic Club at 1360 Melrose Ave in Iowa City was sold for 1.6 million to a group of Quad Cities investors including Mel Foster Jr and Rob Fick. The new owners plan a $750000 facelift, a heated pool, reorganized governance, and family oriented programs to attract 200 new members by 1998.
MENTIONED IN THIS ARTICLE
Quad Cities
University Athletic Club
Gazette
Johnson County Bureau
Iowa City
Melrose Ave
University of Iowa
Mel Foster Jr
Rob Fick
The
Mel Foster Co
Bernard Mauk
Tom McCarthy
Mark Fensterbusch
Mauk
Displaced Parsons workers seek new job paths in Cedar Rapids
Kirk Nielsen of Cedar Rapids takes notes for Cheryl Stone, outplacement general manager at Cambridge Careers Inc., during an informational meeting at the Sheraton Four Points. The event followed Parsons Technology layoffs affecting 235 employees in Hiawatha after a corporate restructuring. Cambridge Careers will run workshops to improve interviewing skills as workers search for new jobs next week.
MENTIONED IN THIS ARTICLE
Kirk Nielsen
Cedar Rapids
Cheryl Stone
Cambridge Careers Inc
Sheraton Four Points
Parsons Technology
Hiawatha
Cambridge Careers
Par
GDP grows 5.8 percent in Q1 but signals cooling ahead
The Commerce Department reports U S GDP rose 5.8 percent in the first quarter, the fastest since 1987. Analysts warn such rapid expansion could curb excess capacity and push inflation and interest rates higher, while April shows signs of a slowdown as retail sales and factory output fall.
MENTIONED IN THIS ARTICLE
Washington
United States
Commerce Department
Mark Zandi
Regional Financial Associates
West Chester
GDP rises 5.8 percent in 1997 first quarter
The gross domestic product grew at a 5.8 percent seasonally adjusted annual rate in the first quarter of 1997, above an earlier 5.6 percent estimate, the Commerce Department reported. Economists doubt the pace will persist.
MENTIONED IN THIS ARTICLE
Commerce Department
Home sales fall to 772,000 in April decline
The Commerce Department reports new single family home sales dropped 7.7 percent in April to a seasonally adjusted annual rate of 772,000. It follows an 11 year high of 836,000 in March, marking the steepest six month decline.
MENTIONED IN THIS ARTICLE
Commerce Department
Universities Patent Pine Needle Calf Calamity Study
Iowa City AP reports a joint patent by the University of Iowa Iowa State University and a USDA Montana center after cattle eating ponderosa pine needles caused early births and high calf mortality. Researchers led by John Rosazza and Stephen Ford identified waxy lipids in pine needles that constrict uterine blood flow, with tests on cows and a five year development path toward an antidote.
MENTIONED IN THIS ARTICLE
Iowa City
University of Iowa
Iowa State University
U.S. Department of Agriculture Research
Montana
John Rosazza
U of I
United States
USDA
Robert Short
Short
ISU Animal Science
Stephen Ford
Ford
U of I Biocatalysis and Biopro
Rosazza
Donna Farley
Mohsen al- Mahmoud
Ponderosa
ISU
TWA and United unveil on time drive for June
TWA promises guaranteed on time arrivals or 1000 bonus miles for late arrivals. United requires early arrival to keep preassigned seats. Both moves start in June and aim to improve schedule adherence. TWA cites May on time rate of 89.4 percent, up from 66.9 percent last May, as proof of its program.
MENTIONED IN THIS ARTICLE
Trans World Airlines
United Airlines
TWA
AT&T Increases Pay Phone Charges Across Network
AT&T Corp raises pay phone per call charges by 35 cents starting Sunday for calls made with credit cards or calling cards and for operated assisted and collect calls. Coin calls unchanged. FCC rule changes last year prompted the higher fees, while MCI and Sprint responses varied.
MENTIONED IN THIS ARTICLE
Washington
At&t Corp
At&t
Cityline Offers Free Quotes On All Major U.S. Stocks
Cityline provides free price quotes on stocks from all major U.S. exchanges. Quotes update continuously during the trading day and are sourced from Standard & Poor's.
MENTIONED IN THIS ARTICLE
Cityline
U.S
Standard & Poor's
Also Mentioned on This Page
Russell Christiansen
MidAmerican Energy Holdings Co
Stanley Bright
MidAmerican
Midwest Resources Inc
Iowa-Illinois Gas and Electric Co
Christiansen
Carmike
Carmike Cinemas Inc
Kansas City
Norman Borlaug
Asia
U.S. Department of State
Department of State
International
Mexico
McDonald’s
McDonald’s Corp
Wall Street Journal
Iowa City Athletic Club
By Jim Jacobson
Tom Nereim
Dick Schmidt
Wayne Carpenter
Gene Seyb
Mark
Nereim
Lisa Powell
Source
U.S. Dept. of Commerce
United
Associated Press
Federal Communications Commission
MCI
Kelley Gannon
Sprint
Larry McDonnell
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