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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 22, 2003
Page
20
Wall Street ended a difficult week with a modest advance as strong earnings from Dillards and Nordstrom boosted hopes of a rebound. The Dow rose 9.11 to 9,628.53 while the Nasdaq gained 11.96 to 1,893.88 amid terrorism fears and a second weekly loss.
Krispy Kreme Doughnuts Inc. posted a 43 percent rise in third quarter profit to $14.5 million or 23 cents a share, with revenue climbing to $169.6 million as it opened new stores. Shares rose about 5 percent in midday trading.
Buffalo Wild Wings Inc. priced its IPO at the high end of $16 to $17 and sold 3 million shares. The stock jumped 35 percent, closing at $22.95 on Nasdaq. The Minneapolis chain highlights wings cost as a risk factor for investors.
United Parcel Service Inc raises ground shipping rates 1.9 percent effective January 5 2004 a smaller increase than 2003 and 2002. The move targets distant deliveries and remote ZIP codes with a dollar delivery charge for commercial shipments plus higher C O D and Saturday pickup fees. Susan Rosenberg the company spokeswoman noted the adjustments.
Maytag Corp outlines a 2004 plan focused on cost reductions and new product launches to lift earnings. The projection is $1.90 to $2.00 per share, with a 40 cent restructuring charge, as the firm shifts production to lower cost licensed sources and closes the high cost Galesburg facility.
Catherine Woteki of Iowa State University seeks public comments on how to allocate a 24.6 percent budget decline since 2001 for the Agriculture and Home Economics Experiment Station. In 2002 the station spent 85.49 million across eight research areas, with plant and animal research receiving about 50.8 percent.
The Homeland Security Department unveiled measures to improve identification of cargo moving across borders and ordered airlines to perform more thorough daily airplane inspections. The rules require electronic manifests for freight by truck rail plane and ship to be sent to Customs and Border Protection before arrival.
Iowa fuel costs eased as refinery maintenance outages abated and terminals restored supply. The Nov 15 DNR survey showed $1.43 statewide, with prices later rising 5 to 10 cents due to higher transport costs and crude oil gains. Waterloo 1.35, Webster City 1.54, with a 26 cent spread across markets. Propane and No 2 heating oil eased slightly while natural gas fell 47 cents per thousand cubic feet, though winter price risk remains.
The Gazette offers engagement and wedding write up forms and details. Call 368-8873 or 1-800-397-8212 for help preparing a beautiful notice.
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