Wall Street Adds Gains as Dell Warns of Profit Slump
Blue chips led a higher index midday, with the Dow up 64.74 and the Nasdaq up 67.27 as oil slide boosts chemical and airline shares. Dell Computer warned of lower profits after the close, signaling renewed market volatility for Thursday. Lamar Advertising to buy Bowlin Outdoor in a 27.2 million stock swap. Lee Enterprises buys three Iowa weeklies to form a regional group.
MENTIONED IN THIS ARTICLE
Wall Street
Dell Computer
New York Stock Exchange
Iowa
U.S. Cellular
International Paper
Rockwell
Procter & Gamble
McLeodusa
Weyerhaeuser
Conexant
Genencor
Firstar
WorldCom
Quaker Oats
Lamar Advertising Co
Cedar Rapids
Bowlin Outdoor Advertising & Travel Centers Inc
Bowlin
Albuquerque
N.M
New Mexico
Texas
Arizona
Lamar
Baton Rouge
Firstar to Buy U S Bancorp in 21.2 Billion Merger
Firstar Corp to acquire U S Bancorp of Minneapolis for about 21.2 billion in stock creating a 160 billion asset bank. The boards approved the deal set to close in Q1 2001 subject to approvals. Minneapolis will host the combined company with Firstar headquartered in Milwaukee.
MENTIONED IN THIS ARTICLE
U.S. Bancorp
Minneapolis
Firstar
Milwaukee
Jerry Grundhofer
John “Jack’ Grundhofer
Firstar Bank Iowa
Cedar Rapids
Iowa City
Coralville
Iowa
Midwest
Wellman
Williamsburg
Factory orders rise 2 percent in August
August factory orders climbed 2 percent to $382.5 billion after July saw a record 8.1 percent decline. Economists say the gains signal growth in a slower but steady economy with stronger demand for airplanes and electronics. Ken Mayland called the data part of a soft landing scenario.
MENTIONED IN THIS ARTICLE
Commerce Department
Ken Mayland
ClearView Economics
AT&T board favors spinning off long distance unit
The AT&T board backs a spin off of the consumer long distance operation to shareholders rather than a sale. The WSJ cited people familiar with the plan and noted AT&T has talked to potential buyers including Verizon Communications Inc. and other suitors.
MENTIONED IN THIS ARTICLE
At&t Corp
At&t
Wall Street Journal
Journal
Verizon Communications Inc
Bell Atlantic
GTE
Workforce Shortage Threatens Iowa Economy
Iowa faces slow population growth and tight labor supply that could curb job gains. Economists at the Economic Forecast Luncheon warn 0.4 percent employment growth next two years, exports concentrated, and need for training in advanced manufacturing and high tech, with tourism efforts to attract out-of-state workers.
MENTIONED IN THIS ARTICLE
Buzz Orr
Harvey Siegelman
Mary Sawyer
Iowa Department of Economic Development
Sheraton City Plaza Hotel
Iowa City
Ingram
Iowa
Siegelman
Canada
Japan
Lawyer
Survey shows more online mortgage interest by 2005
A Fannie Mae survey finds about half of Americans expect most home mortgages to be handled over the Internet by 2005 and 28 percent would apply online, up from 20 percent four years ago. Franklin Raines calls the trend a positive shift in Internet use for home buying.
MENTIONED IN THIS ARTICLE
Washington
Fannie Mae
Franklin Raines
McLeodUSA projects meet or exceed market this year
McLeodUSA Inc says it expects to meet or exceed the current market consensus for earnings and revenue in Q3 Q4 and all of 2000. CEO Steve Gray outlines 2001 revenue guidance of 2.1 to 2.2 billion and EBITDA of 225 to 235 million with about 1 billion in capital expenditures.
MENTIONED IN THIS ARTICLE
Gazette Finance
McLeodusa Inc
Steve Gray
McLeodusa
CapRock of
Dallas
CapRock
Gray
Lawsuit challenging biotech food labeling dismissed
A federal judge dismissed a 1998 suit by anti biotech groups seeking mandatory labels on foods with gene altered ingredients. Judge Colleen Kollar Kotelly ruled FDA policy treating biotech crops as equivalent to conventional ones lacks proven procedural or environmental violations and that labeling mandate is not compelled unless biotech ingredients differ materially.
MENTIONED IN THIS ARTICLE
Washington
Food and Drug Administration
U.S
Colleen Kollar-Kotelly
Biotech
FDA
Also Mentioned on This Page
Billboard
Lee
Lee Enterprises of
Davenport
Mitchell County Press News
Osage
Forest City
Globe Gazette
Mason City
Winnebago/Hancock Shopper
Djia
George C. Ford
West
Usbank
Harry Milling
Morningstar.com
US Bancorp
George Ford
Georges
Firstar Corp
A South
Firstar.com
At&t Board
BizFacts
Spain
Bars Aia
By Nathan Hill
Ingram III
Micleodusa
Clinton
Bush
The
Center For Food Safety
Line of Credit
Benton
Buchanan
Cedar
Delaware
Johnson, Jones, Iowa, & Linn Counties
Collins Community Credit Union
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