Wall Street slides as Iraq war fears rise on Veterans Day
Investors flee stocks with the Dow dropping 178 points to 8359 and the Nasdaq down 40 as concern over war with Iraq dominates trading. Volume was light at 1.38 billion shares with declines outrunning advances three to one on the NYSE.
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Iraq
Wall Street
New York Stock Exchange
United stock climbs on labor deal and bailout doubt
United Airlines ends a volatile session higher after a tentative wage concession pact with flight attendants totaling 412 million over 50 years as the ATSB review looms. Analysts doubt the cuts will halt losses and flag a likely Chapter 11 filing despite the 9 percent gain to 3.57.
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United Airlines
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Californians collect AOL promotional CDs for protest
Two El Cerrito men Jim McKenna and John Lieberman report receiving over 80 000 AOL promotional discs as they campaign against the banners. They plan to reach a million discs and then march to AOL headquarters in Virginia with volunteers. The effort has grown into an international alliance with partners in France and Germany.
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Aziz Ridouan
Stop CD France
Nicholas Graham
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AOL CDs lose favor as recycling push grows
Stop CD France collects about 1,600 AOL discs as critics urge AOL to end promotional CD mailings. AOL spokesman Nicholas Graham says CDs remain effective for outreach and notes returns and recycling options, while Stop CD France and allies emphasize ecological costs.
Tyson Foods earnings rise after IBP purchase boost
Tyson Foods reports Q4 earnings of 84 million dollars or 24 cents a share on 5.8 billion in sales, aided by last year’s IBP acquisition. Excluding one time items earnings were 30 cents a share, with annual profit 383 million and sales 23.4 billion. Analysts expected 26 cents before charges.
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Springdale, Ark
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Tyson Foods
Brad Eichler
Stephens Inc
Eichler
General Mills Sees Higher Q2 Earnings
General Mills expects second quarter earnings to the upper end of guidance, about 74 to 75 cents per share for the quarter ending Nov. 24. The Golden Valley, Minnesota company notes renewed sales volume growth in U. S. businesses driven by brand advertising, with First Call consensus at 70 to 74 cents.
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Golden Valley, Minn
General Mills
Steve Sanger
U.S
McDonald’s faces fresh doubt after cost cuts plan
Investors and Standard & Poor's express skepticism as McDonald's outlines restructuring in four Middle East and Latin American countries, closes 175 restaurants abroad, cuts 400 to 600 jobs, and expects 350 to 425 million dollars in quarterly charges. Shares fall to 17.09 on the NYSE. S&P cites U.S. weakness and overseas challenges.
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McDonald’s Corp
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McDonald’s
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Standard & Poor’s
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Nash Finch Shares Fall After Fitch Review Initiated
Nash Finch stock slid about 32 percent as Fitch Ratings placed $380 million of the company's debt under watch for a possible downgrade. The rating action cites an informal SEC inquiry into promotional allowances and delayed earnings, with restatements and SEC findings flagged as downgrade risks.
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Nash Finch
Fitch Ratings
Fitch
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Iowa
Cedar Rapids
Community clubs urged to send news to Neighbors column
The Gazette requests Eastern Iowa service clubs to submit upcoming events and functions to the Neighbors section. Mail notices to Neighbors, P.O. Box 511, Cedar Rapids Iowa 52406 for publication on Wednesdays.
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Iowa
Neighbors
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Cedar Rapids
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