Stock market closes slightly higher on tepid economic data
The Dow Jones Industrial Average rose 8.91 points to 3266.26 as new reports on construction, purchasing trends and leading indicators yielded little optimism. In Eastern Iowa trading 19 stocks advanced, 13 fell and seven held steady led by Penwest down 2 percent and Equitable of Iowa down 14 cents. Raytheon, Gillette and International Paper posted gains.
MENTIONED IN THIS ARTICLE
Dow Jones
Iowa
Penwest
Equitable of
Raytheon
Gillette
International Paper
General Nutrition posts higher Q2 earnings and sales
General Nutrition Inc. reports net income of 2.355 million for the quarter ending July 18, reversing a 2.187 million loss a year earlier. Sales rose 14.4 percent to 100.253 million from 87.645 million in Q2 1991, with stores at Lindale and Westdale malls.
MENTIONED IN THIS ARTICLE
General Nutrition Inc
Lindale
Westdale
Pittsburgh
Leach urges Bush to back ethanol amid EPA science debate
Rep. Jim Leach tours ADM Cedar Rapids plant and says EPA lacks definitive science on ethanol. He argues pro ethanol stance could boost corn demand and aid farmers, while Bush's position may trigger backlash or gains depending on administration action. Clinton remains cautious on endorsing ethanol.
MENTIONED IN THIS ARTICLE
Leach
Bush
EPA
Archer Daniels Midland
ADM
Cedar Rapids
ATM
Iowa officials head north to recruit in Canada
Cedar Rapids and 11 Iowa communities join 18 member Sell Iowa delegation in Toronto meeting with 90 Canadian firms led by Magna International. Focused on plastics, light manufacturing and food processing, the group aims to overcome foreign market barriers with U.S. reference points.
MENTIONED IN THIS ARTICLE
George C. Ford
Magna International
Toronto
Iowa
Cosmo International
Henningsen
Magna
Canada
United States
Michael Blouin
Cedar Rapids Area
Strategies for Selling Stock and Reducing Taxes in 1992
A reader asks how to minimize taxes when selling stock bought via a monthly plan. Costs vary by broker: about 220 dollars for 380 shares with a full service broker, or around 100 dollars with a discount broker. Tax options depend on income and gains. selling now yields a 5900 dollar gain after cost basis, taxed up to 28 percent. Consider selling half this year and half next year to stay in a lower bracket, or wait for possible changes to long term capital gains. End with reader’s note to contact investment services for guidance and consider reinvestment options.
IBM launches AS-400 upgrade with four processors and disk array
IBM unveiled the AS-400 high end system with four processors delivering 20 percent more power than the prior top model and priced at 973000 dollars. It also introduced a disk array storage device and announced a link between Apple Macintosh computers and the AS-400 for corporate customers. The AS-400 line, introduced four years ago, has over 175000 systems installed worldwide.
MENTIONED IN THIS ARTICLE
New York
IBM
Apple Computer Inc
Apple
Also Mentioned on This Page
Continental
Northwest Airlines
Continental Airlines
United Airlines
Usair
Washington
Commerce Department
William Dunkelberg
Temple University
Business School
Environmental Protection Agency
Bill Clinton
Clinton
Jim Leach
Susan Bondy
Bondy
YWCA
Loomis Brothers Inc
Fifth St. SE
Fourth Avenue SE
Leo Peiffer & Associates
Edgewood Rd
Brenton
Brenton Brokerage
First Ave
Marion
Center Point Road
Williams
Eee
Second Avenue
SIPC
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