Market rises to 17 month high on strong earnings and merger news
The S&P 500 hits 1050.71, a 0.4 percent gain and its highest finish since May 2002. The Dow adds 14.51 to 9801.12 while the Nasdaq slips 0.48. Genencor International posts higher Q3 net income driven by sales and lower costs, with Cedar Rapids plant noted.
MENTIONED IN THIS ARTICLE
Standard & Poor
Brian Pears
Victory Capital Management
Cleveland
S&p
Dow
Genencor International Inc
Palo Alto
Calif
Genencor
a_bioproducts
Cedar Rapids
Judge clears way for MCI to end bankruptcy
U S Bankruptcy Judge Arthur J Gonzalez approved MCI plan to emerge from bankruptcy the largest in U S history. The reorganization pays creditors about 36 cents on the dollar erases 35 billion in debt and names a new governance structure. MCI remains under legal scrutiny for securities fraud and routing practices while adjusting to a debt light balance sheet and new leadership.
MENTIONED IN THIS ARTICLE
MCI
New York
U.S
Atlas Ergonomics Marks Chairs For Quick Adjustments
Atlas Ergonomics LLC of Iowa Citydevelops chair marking systems to restore precise adjustments quickly. The firm collaborates with four of the top six office furniture makers and uses a six step process to reduce workplace physical strain.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Gazette
Iowa City
Daddy Bear
Atlas Ergonomics LLC
Drew Bossen
Atlas
Bossen
Sherman Robbins
Grand Rapids
Mich
Jim Landsman
Grand Haven
Rockwell Collins
Cedar Rapids
DTE Energy
Detroit
DTE
Consumer spending slips 0.3 percent in September
In September, U S consumer spending fell 0.3 percent after two months of gains, the largest monthly drop in a year, while incomes rose 0.3 percent. The reports tie spending to tax cuts and point to slower growth after strong third-quarter momentum.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Bush
University of Michigan
IPERS Fires Putnam as Manager of $586 Million Fund
The Iowa Public Employees Retirement System dumps Putnam Advisory Co. amid regulator concerns over fund managers engaging in personal short term trading. IPERS prohibits Putnam trading unless preapproved, effective November 30. IPERS oversees $15.4 billion for 323000 members.
MENTIONED IN THIS ARTICLE
Des Moines
Iowa Public Employees Retirement System
Putnam Advisory Co
IPERS
Rhode Island
Massachusetts
Pennsylvania
Putnam
California
Iowa
Michael Fitzgerald
Fitzgerald
Enron
World- Com
Wall Street
ADM Profit Jumps 39 Percent in First Quarter
Archer Daniels Midland Co reports a 39 percent rise in first quarter net earnings to 150.2 million dollars with 23 cents per share. Revenue climbs 19 percent to 8.27 billion as cocoa and lysine gains and private equity investments aid a rebound from a slump.
MENTIONED IN THIS ARTICLE
Decatur, Ill
Archer Daniels Midland Co
Wall Street
Thomson First Call
ADM
New York Stock Exchange
U.S
Also Mentioned on This Page
Nasdaq
Mies
Food Bank
Barbara Prather
Nash Finch
Nash Finch Co
Econofoods
News Service
Arthur J. Gonzalez
WorldCom
Michael D. Capellas
At&t
Sprint
Muayyad Al-Chalabi
RHK
AMEX
ORUE
Jouw
Atlasergo
Devel
Marlene.lucas
Gazettecommunications.com
the Gazette
Stacey Rife
Ust
Department of Commerce
Iowa Pension Fund
John McMillin
East Iowa
McLeod USA
APAC
Aegon NV
McLeod USA A
Alcoa Inc
Mestek
Alliant Energy
Moore Wallace Inc
Arch Dan Mid
Pearson PLC
Bandag Inc
Pentord Corp
Caseys Gen Store
Columbus McKinnon
PepsiCo
Comel Fedi
Procter Gamble
Deere Co
Qwest Commun
Dillards Inc
RF Micro Devices
Fastenal Co
Terex Co
Heinz
Toyota Met
Hon Inds
Union Planters
Intl Paper
Uld Fire Cas
Keane Inc
US Bancorp
Kohis Corp
US Cellular
Longon
Unova Inc
Verizon Comm
Marsh & McLennan
WalMart
Maytag
Wells Fargo & Co
Wievuprhaniene
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