Housing starts plunge 11 percent in March shocks Fed policy
Housing construction fell 11.2 percent from February to March, the Commerce Department reported. Builders began new homes at a seasonally adjusted annual rate of 1.60 million, marking the steepest one month drop since January 1994, with multi family units driving the decline. Economists expect the slowdown not to deter the Fed from further rate hikes to curb inflation.
MENTIONED IN THIS ARTICLE
Federal Reserve
Commerce Department
AOL Intel and IBM post strong profits in brisk market
Internet and technology investors cheered after the Nasdaq’s big gain as AOL, Intel, and IBM reported robust quarterly profits. AOL earned 271 million dollars or 11 cents per diluted share, Intel earned 71 cents per share, and IBM posted 1.52 billion dollars in net income. Payless ShoeSource also announced a self tender offer, and Qualcomm and Uno Restaurant reported notable results.
MENTIONED IN THIS ARTICLE
America Online Inc
Intel Corp
International Business Machines Corp
AOL
IBM
Payless ShoeSource Inc
Payless
Payless ShoeSource
Parade
Qualcomm Inc
Uno Restaurant Corp
Nasdaq rallies as tech shares lead broad market rebound
The Nasdaq composite climbs 254.41 to 3793.57 with gains across large cap names like Sun Microsystems Microsoft and Cisco Systems. Dow rises 184.91 to 10767.42 and S P 500 adds 40.17 to 1441.61 as investors seek bargains and diversify beyond top techs.
MENTIONED IN THIS ARTICLE
Wall Street
Standard & Poor
Sun Microsystems
Microsoft
Cisco Systems
Sun
Cisco
Drive-through coffee shop opens on East 23rd
Z's Divine Espresso opened Monday at East 23rd and Harper streets offering a drive-through concept. Lawrence residents note the new shop extends the city’s coffee culture beyond the downtown area, with hours 7 a.m. to 7 p.m. Monday through Saturday and 8 a.m. to 7 p.m. Sunday.
MENTIONED IN THIS ARTICLE
Lawrence
East 23Rd
Harper Streets
2'S
Massachusetts
Patrick Giroux
7’S
Bart
RicHampson
Ourwal
Divine Espresso
Pace Alliance and RxMarketplace.com link for online buying power
Pace Alliance Inc a buying group for independent pharmacies joins with Colorado based RxMarketplace.com to enable online purchasing direct from manufacturers for its 220 Ohio member pharmacies and 2 500 independent stores across 14 states. The alliance promises streamlined distribution potential better pricing and easier Internet use for members.
MENTIONED IN THIS ARTICLE
Pace Alliance Inc
RxMarketplace.com
Pace Alliance
Curtis Woods
Ohio
Commodity prices and livestock quotes from various markets
Tuesday quotations show Farmer's Cooperative Assn and North Elevator offering wheat around 2.28, soybeans near 4.95 to 5.00, milo about 1.70, corn at 1.91 to 1.96 with USDA loan deficiency payments for wheat 40 cents and soybeans 32 cents. Hog and cattle prices eased from Monday with barrows 47.00-47.50, sows 36.00-44.00, and boars 14.00. St Louis area reports also note New York nonferrous metals with aluminum at 64.2 cents lb and gold 281.10 per ounce.
MENTIONED IN THIS ARTICLE
Farmer's Cooperative Assn
South Elevator
Milo
Midland
North
USDA
St. Josemi
New York
London
Handy & Harman
Sprint reports 18 percent revenue rise on wireless sales
Sprint officials announced first quarter revenues of 5.48 billion dollars, up from 4.65 billion a year earlier, with over 831 thousand new wireless PCS customers. The firm expects continued subscriber growth and highlights gains in long distance and local telephony as contributing factors.
MENTIONED IN THIS ARTICLE
Kansas City, Mo
Sprint
United States
Wireless Sprint
William Esrey
FON Group
Sprint Pcs
Global One
Esrey
PCS Wireless
PCS Group
MCI WorldCom
Sprint Corp
MCI
Europe
Also Mentioned on This Page
Dow
S&p
Treasury
Kansas Cy Board of Trade
Intel
Yahoo
Etrade
Amgen
Barry Hyman
Ehrenkrantz King Nussbaum
Z's Divine Espresso
Mark Zwahl
Richard Brack
Ljworld.com
St. Joseph Livestock
Lynn Electric, Inc
Sadist Paradise
Norman Jotin
Chris Chapin
Oe Sanders
Martha Pierson
CSR
Streat
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