Earnings lift stocks toward 10,000 milestone
The Dow rose 48.60 to 9,812.98 as earnings optimism cheers traders. The Nasdaq gained 9.66 to 1,943.19 with volume 1.62 billion shares on a light holiday session. Advancers outpaced decliners 4 to 3 on the NYSE.
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New York Stock Exchange
IP&L announces pricing of senior debt offering
Interstate Power and Light a subsidiary of Alliant Energy announces pricing of a 100 million unsecured senior debenture issue due 2033 at 6.45 percent. Proceeds will redeem 94 million of 7.625 percent first mortgage bonds due 2023 and fund other corporate needs. Merrill Lynch helped market the offering.
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Alliant Energy Corp
Interstate Power and Light
Cedar Rapids
Lehman Brothers Inc
Merrill Lynch & Co
Rates Fall in Treasury Bill Auction
The Treasury Department sold 17 billion in three month bills at 0.905 percent discount, and 17 billion in six month bills at 0.985 percent, lower than the prior week. The implied yields and prices show a 0.923 percent return for the three month bill and 1.006 percent for the six month bill, while the average one year T bill yield rose to 1.20 percent from 1.17 percent.
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Treasury
Treasury Department
Federal Reserve
Gazette
News Service
Ethanol project backers sue over vanished funds near Earlville
Backers of a stalled Eastern Iowa ethanol plant sue their attorney and financiers after 3.8 million dollars meant to secure loans disappeared. The lawsuit names Davis Brown Koehn Shors & Roberts PC and M Daniel Waters, alleging inadequate representation and ongoing losses to Northeast Iowa LLC and the co op. The case in Waterloo federal court follows an earlier fraud suit in Las Vegas and British Columbia.
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Gazette
Iowa
Dorchester Enterprises of
British Columbia
Dorchester
U.S
Jerry Drizin
Global Syndicate International
Drizin
Ubani
U.S. District Court
Waterloo
Peter Riley
Tom Riley
Cedar Rapids
Davis
Steve Wandro
Wandro, Lyons & Baer
Des Moines
Doug Schulte
Manchester
Delaware County
Pension deficit widens as PBGC reports record shortfall
The Pension Benefit Guaranty Corp. says its deficit rose to 8.8 billion dollars as of August 31, with prior July figures at 5.7 billion. PBGC notes underfunding exceeds 350 billion nationwide, with about 80 billion in severely underfunded plans.
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Washington
Congress
Pension Benefit Guaranty Corp
PBGC
Steven Kandarian
Senate Special Committee On Aging
Cargill reports slide in first quarter earnings
Cargill Inc. posted a 41 percent drop in first quarter profit to 347 million for the period ended Aug. 31, 2003, from 591 million a year earlier when gains from discontinued operations and accounting changes inflated results. Continued operating earnings rose slightly to 348 million.
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Thomson First Call
Merrill Lynch
Cedar Rapids
Minnetonka, Minn
Cargill Inc
North Star Steel
Warren Staley
Government report questions SUV safety
A government study by the National Highway Traffic Safety Administration finds mid-size SUVs are nine times as likely as passenger cars to be involved in fatal rollover crashes and twice as likely to kill occupants of other vehicles. The analysis covers 1995 to 2000, linking lower vehicle weight to higher fatality risk across small cars and mid-size SUVs.
MENTIONED IN THIS ARTICLE
Washington
National Highway Traffic Safety Administration
NHTSA
Corn yields rise as soybeans slump in Iowa harvest
Iowa farmers report strong corn yields with 170 to 180 bushels per acre at Keystone Mercantile and 156 bushels statewide on average, while soybeans lag with 16 to 45 bushels per acre. Nationwide figures show 84 percent of soybeans and 31 percent of corn harvested, with field drying delaying some corn.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Gazette Lowa
River Valley Co-op
Clarence
Jean Ewing
Co-Op
U.S. Department of Agriculture
Jerry Junge
Keystone Mercantile Co
Iowa Agricultural Statistics
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