Wall Street Rally Pushes Dow Gains on Earnings Outlook
Wall Street rose as investors cheered earnings that were only satisfactory. The Dow jumped 172.92 to 9377.03 and the Nasdaq climbed 36.77 to 1708.08 amid modest volume and more advancers than decliners. Eastern Iowa stocks mixed with Genencor, United Fire, Weyerhaeuser, Alcoa, and Penford higher while Nash Finch fell.
MENTIONED IN THIS ARTICLE
Wall Street
Dow
New York Stock Exchange
Iowa
Genencor
United Fire
Weyerhaeuser
Alcoa
Penford
Nash Finch
Amana strike stalls after 29 days as talks end
About 2,000 Amana Refrigeration workers walkout continues after Machinists Local 1526 rejects a proposed contract. Maytag officials express disappointment and say talks are not planned. Separate BLE re vote on a merger with the UTU faces consent court action with ballots mailed November 7 and counted December 10.
MENTIONED IN THIS ARTICLE
Maytag Corp
Amana Refrigeration Products
William Beer
Maytag
Amana
Goodman Global Holdings Co
Texas
Jim Powell
Brotherhood of Locomotive Engineers
United Transportation Union
U.S. District Court
Ann Aldrich
Aldrich
BLE
Don Hahs
ADM reports 20 percent earnings rise on ethanol demand
ADM posted fiscal first quarter net earnings of 131.6 million dollars or 20 cents a share up from 109.4 million or 17 cents. Sales and other operating income rose to 5.5 billion from 4.63 billion as ethanol and oilseed margins improved. Decatur based ADM operates an ethanol plant in Cedar Rapids. A separate note says Kiefer Built LLC will shift Ames plant workers to Kanawha and Sneedville Tennessee plants with 2000 dollar transfers.
MENTIONED IN THIS ARTICLE
Archer Daniels Midland Co
ADM
Thomson Financial
First Call
Decatur
Ames
Hancock County
Tennessee
Kiefer Built LLC
Kanawha
Sneedville, Tenn
Lane Mesenbrink
Kiefer
Treasury bill yields fall on short term auctions
In Monday auctions the Treasury sold 14 billion in three month bills at a discount rate of 2.17 percent and 13 billion in six month bills at 2.13 percent. The new rates imply yields of 2.214 percent for the three month bill and 2.183 percent for the six month bill. The Federal Reserve reported a weekly average yield on one year notes of 2.37 percent, down from 2.39 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Trade panel finds foreign steel injures U.S. industry
The U S International Trade Commission ruled 12 of 33 steel lines suffer serious injury from cheap imports. Hearings on remedies will precede recommendations to the Bush administration by Dec. 19 with quotas or tariffs among options.
MENTIONED IN THIS ARTICLE
Washington
U.S
U.S. International Trade Commission
United States
Leo Gerard
United Steelworkers of America
Gerard
David Phelps
Trade Association
Rain delays corn and soybean harvest in east central Iowa
Rain halted corn and soybean harvest across east central Iowa. The Iowa Crops & Weather report notes progress lagging year over year with 29 percent of corn and 78 percent of soybeans harvested. Mark Bodiker of Walker reports 600 acres soybeans done before rain and 240 acres corn remaining as he awaits clearer weather.
MENTIONED IN THIS ARTICLE
Iowa
Mark Bodiker
Walker
Bodiker
Beefs Price Drop Tied to Weak Economy and Mad Cow scare
Analysts say beef prices will ease through year amid slowing economy and cattle market glut. Japan's mad cow discovery worsens demand, but industry groups urge shoppers to buy now and pass savings to consumers. The National Cattlemen's Beef Association advocates buying more for food service and retailers to reflect lower prices.
MENTIONED IN THIS ARTICLE
Wichita
Kan
James Mintert
Kansas State University Extension
Japan
US S
U.S
Mintert
National Cattlemen’s Beef Association
Argentina floods swamp Pampas farmland forcing evacuations
Heavy rains across Argentina's Pampas flooded farmland and forced the evacuation of more than 4,000 people. Guillermo Villarreal rode his horse on his flooded La Sofia farm about 320 kilometers southwest of Buenos Aires as officials responded to the disaster.
MENTIONED IN THIS ARTICLE
Guillermo Villarreal
la Sofia
Buenos Aires
Argentina
Pampas
Nuclear plant near Palo to resume startup after shutdown
Duane Arnold Energy Center near Palo Iowa prepared to resume operation after a Monday shutdown for maintenance on a pump seal. The 535 megawatt plant runs for owners Alliant Energy IES Utilities central Iowa Power Cooperative and Corn Belt Power Cooperative and will return to service when maintenance concludes.
MENTIONED IN THIS ARTICLE
Duane Arnold
Palo
Iowa
Nuclear Management Co
Hudson, Wis
Alliant Energy-Ies Utilities
Central Iowa Power Cooperative
Corn Belt Power Cooperative
Maureen Brown
The
Also Mentioned on This Page
Djia
Rail Union
Wild About
Harry
BizFact
American Institute For International Steel
Phelps
Commission
Bush
Robert Zoellick
By Marlene Lucas
Brown
Nmcco
Nuclear Regulatory Commission
NRC
Great America
1St Street
Cedar Rapids
FDIC
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