Markets steady as Dow gains on bargain hunting
Stock prices fluctuated but stayed steady as investors sought bargains after last week's drop. The Dow rose 56.11 to 8,659.97 and the Nasdaq gained 2.24 to 1,501.64, with advancing issues outpacing decliners. Terra Industries calls back 71 Blytheville workers after shutdown, tied to higher costs. Rhythms NetConnections seeks bankruptcy assets sale to WorldCom with 83,000 customers set to lose service.
MENTIONED IN THIS ARTICLE
Wall Street
New York Stock Exchange
Iowa
Procter & Gamble
AEGON
Nash Finch
Wal-Mart
MCI Group
Terra Industries Inc
Blytheville, Ark
Blytheville
Terra
North America
Terra Industries
WorldCom Inc
Rhythms NetConnections
Rhythms
Federal Communications Commission
Meredith lowers earnings outlook as ad slump hits media
Meredith Corp says missing TV advertising due to the Sept 11 attacks will hurt first quarter earnings ending Sept 30. Des Moines based Meredith also notes TV stations went commercial free and papers sacrificed ad space. Shares fell 2.51 percent to 30.50. The Treasury sold 10 billion four week bills at 2.450 percent, highest since Sept 5.
MENTIONED IN THIS ARTICLE
Meredith Corp
U.S
Des Moines
Treasury
Treasury Department
Carpenters Texturize Exterior of New NCS Pearson Building
Texturized members of Carpenters Local 308 from Five Seasons Painting and Drywall, Cedar Rapids, worked on the exterior of the new NCS Pearson building at Oakdale Technology Park in Coralville. About 120 employees from other NCS offices will occupy two floors starting in November, focusing on government solutions.
MENTIONED IN THIS ARTICLE
Carpenters Local 308
Five Seasons
Cedar Rapids
NCS Pearson
Oakdale Technology Park
Coralville
NCS
MidAmerican Energy to Change Cedar Rapids Billing Dates
MidAmerican Energy will adjust meter reading routes affecting about 15,570 Cedar Rapids natural gas customers. The change aims to balance routes and boost efficiency with new reading tech, prompting letters to customers and possible 41 day gaps between bills. Call 1-480-0427-5632 with questions.
Harkin and Lugar Propose Bipartisan Farm Policy Principles
Senate Agriculture Committee leaders Harkin and Lugar outline bipartisanship driven farm policy. They urge targeted aid to actively farming producers, expanded conservation funding, and balance between land retirement and on farm environmental practices. The plan stops short of specific spending, as House efforts edge toward near 170 billion dollars over ten years. Agriculture Secretary Veneman set to testify.
MENTIONED IN THIS ARTICLE
Iowa
Tom Harkin
Indiana
Richard Lugar
Harkin
House Agriculture Committee
United States
World Trade Organization
Senate Committee
Lugar
Senate
Mary Kay Thatcher
American Farm Bureau’ Federation
Andy Fisher
McLeodUSA Stock Drops Below 50 Cents After Downgrade
McLeodUSA Inc shares closed at 45 cents, down 18 cents or 28.57 percent after a downgrade by Thomas C. Morabito of McDonald Investments and Time Warner Telecom’s lower earnings projection. Trading volume reached 32,299,200 shares as Time Warner reported expected revenue well below Wall Street estimates.
MENTIONED IN THIS ARTICLE
McLeodusa
Thomas C. Morabito
McDonald Investments Inc
McCleodusa
U.S
Wall Street
Cedar Rapids seal maker Gold Seals sold to A W Chesterton
Gold Seals Inc of Cedar Rapids, an innovator in mechanical industrial seals, has been acquired by A W Chesterton Co of Stoneham Massachusetts for an undisclosed amount. The sale brings a disposable wear design to Chesterton’s global line, with production previously outsourced and Gold Seals employing one local staffer.
MENTIONED IN THIS ARTICLE
Golden Seals
Cedar Rapids
Toal
Home sales hit record August before postattack slowdown
Existing home sales reached a seasonally adjusted 5.50 million in August, a 5.8 percent rise from July and the highest monthly pace on record. After the Sept. 11 attacks sales face a downturn as buyers brace for uncertainty, though prices rose 8 percent to a median of $154,700.
MENTIONED IN THIS ARTICLE
Washington
U.S
National Association of Realtors
David Lereah
Association
America
Lereah
West
South
Midwest
Also Mentioned on This Page
Arkansas
WorldCom
Internet
Djia
Meredith
BizFact
KRT Association
Pat Carr
Paul Trap
Gazette
Marlene Lucas
MidAmerican Energy
Senate Agriculture Committee
Agriculture
Ann Veneman
Sen
R Ind
McLeodusa Inc
George C. Ford
Credit Swisse First Boston
Time Warner Telecom
Time Warner
Startup Industrial Seal Company
C.R
Roquette American Inc
Keokuk
A.W. Chesterton
Ufacturer
John Crane
World Trade Center
Pentagon
Jerry K. Ask
Investment Services of
Primus
Hiawatha
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