Markets Rally On Antitrust Settlement Hopes And Strong Semiconductors
The Dow rose 188.76 to 9,263.90 and the Nasdaq gained 56.10 to 1,746.30 as investors priced in a possible Microsoft antitrust settlement and a favorable semiconductor outlook. Local stocks showed mixed gains led by Procter & Gamble Kohls and General Electric while U.S. Cellular fell. Separately General Mills completed its Pillsbury acquisition for 5.9 billion dollars, with Diageo receiving 134 million shares and assuming 4.5 billion in debt. A Davenport call center closure eliminated 450 jobs across multiple sites, with 60 days of pay and benefits for affected workers. Mortgage rates edged lower overall, with 30-year fixed at 6.56 percent and 15-year at 6.04 percent, while one-year ARMs rose slightly to 5.26 percent.
MENTIONED IN THIS ARTICLE
Microsoft
New York Stock Exchange
Procter & Gamble
Kohls
General Electric
Deere
U.S. Cellular
General Mills
Pillsbury
Diageo PLC
Diageo
Cedar Rapids
Iowa City
Freddie Mac
Cigarette Price Increases Hit Eastern Iowa Smokers
Eastern Iowa smokers face about a 50 cent per carton rise as tobacco firms raise prices ahead of a new tax. Distributors cite varied increases, with premium brands like Camel and Marlboro reaching roughly 32.07 per carton. Retailers report chaotic pricing due to manufacturer discounts and promotions.
MENTIONED IN THIS ARTICLE
Gazette
Clyde Satterly
Farner Bocken
Carroll, Iowa
Satterly
Iowa
Phil Murray
Wholly Smokes
Williams Blvd
Chris Frank
Tobacco Leaf
Center Point Road
Lands End offers custom chinos online with fits tailored to you
Lands End launches mass customization allowing customers to input measurements on landsend com for custom chinos and soon jeans. Pricing tops at 54 dollars for custom pants, far below typical 100 dollar bespoke fits. Analysts note potential returns risk and manufacturing hurdles as orders are individually made.
MENTIONED IN THIS ARTICLE
New York
Lands’ End Inc
Dodgeville
Wis
Lands’ End
Bill Bass
Archetype Inc
Richmond
Bass
China
Evie Black Dykema
Forrester Research
Jupiter Research
Landsend
Principal policyholders to get cash or stock payout
DES MOINES AP Principal Financial Group will issue cash or stock payouts to about 800000 policyholders by December 26 as part of its transition from mutual to public company after selling 100 million IPO shares. About 75,000 Iowans are affected. 82 percent chose stock with 260 million shares allocated.
MENTIONED IN THIS ARTICLE
Des Moines
Principal Financial Group
Joyce Hoffman
Hoffman
FAA proposes cargo collision avoidance rule boosts Rockwell market
The FAA proposes requiring midair collision avoidance systems on cargo aircraft, expanding a market for Rockwell Collins beyond passenger jets. About 1,100 cargo airplanes would be affected as the rule aims to extend proven safety benefits. Rockwell has already won a cargo jet contract and faces variable impact depending on rule adoption.
MENTIONED IN THIS ARTICLE
Rockwell Collins
U.S
Rockwell
Airborne Express
Wagner
United Fire reports sharply lower Q3 earnings
Cedar Rapids based United Fire & Casualty Co reports third quarter net income of 1.5 million or 15 cents per share, down from 7.1 million or 71 cents in 2000, as higher claims in property and casualty lines cut profits. Consolidated revenues rise to 121.6 million from 107.7 million year over year. net operating income falls to 2.6 million or 26 cents per share from 7.8 million or 78 cents. The insurer notes no direct exposure to 9/11 claims but records a 2.9 million after tax charge from assumed property reinsurance. Incurred losses and expenses total 6 million after tax for the quarter, vs 1.5 million a year earlier. Year to date net income stands at 11.9 million or 1.19 per share, versus 114 million or 1.14 per share a year ago.
MENTIONED IN THIS ARTICLE
Apac Customer Services Inc
Deerfield
Ill
George C. Ford
Cedar Rapids
Lion
United Fire
New York
Pennsylvania
Washington, D.C
Consumers cut spending amid terror attacks signal recession
Washington reports show consumer spending fell 1.8 percent in September as households pull back after the attacks. October manufacturing slipped to 39.8, the 15th straight month of decline, signaling worsening economic pain and potential recession.
MENTIONED IN THIS ARTICLE
Washington
National Association of Purchasing Management
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Tech News
Mount Mercy
Health Careers
Mount Mercy College
McAuley
Davenport
GE Financial Assurance Partnership Marketing Group
Chicago
Sarasota
Fla
San Bernadino
Calif
Schaumburg
APAC
Djia
E. Iowans
By Dave DeWitte
Chad Lacour
First Ave
Murray
Winston
FAA
United
Ken Mayland
ClearView Economics
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