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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Mar 22, 2001
Page
12
Investors' disappointment shows on Wall Street as the Dow Jones industrials plunge 233 points to 9,487.00, its lowest close in two years. The index has fallen 1,371.25 points, about 12.6 percent, in the last nine sessions, with both the S&P 500 and Nasdaq already down more than 20 percent from highs.
Consumer prices rose 0.3 percent in February after a 0.6 percent jump in January. Energy costs fell, yet medical care and prescription drugs climbed 0.5 percent, keeping the year’s medical price rise at a 7 percent seasonally adjusted rate, signaling persistent inflation risks.
Santa Clara based 3Com plans cost reductions and layoffs following a third quarter where revenue fell to 629.6 million from 1.14 billion a year earlier. The company posted a net loss of 246 million or 72 cents a share compared with a profit of 506.3 million or 1.40 per share a year ago. Shares closed down 6 cents at 6.15 after hitting a 52 week low of 5.91 earlier in the day.
FedEx Corp posted a 4 percent drop in third fiscal quarter profit to $109 million or 37 cents a share, shy of analysts’ 36 cent forecast. Excluding a 4 cent tax benefit, earnings would be 33 cents. Despite the miss, shares rose $2.35 to close at $42.60 on the NYSE.
Boeing plans to move its headquarters to a new site by fall, considering Chicago Denver or Dallas Fort Worth. Lawrence native Alan Mulally leads the commercial airplanes unit as CEO, with Condit stating the change aims to centralize operations and boost growth while keeping Seattle jet plants and R D.
William Esrey chairman and CEO of Sprint will speak at Kansas University delivering the Vickers Lecture titled Can We Have Technology and Humanity at 7 30 p m Wednesday in the Lied Center. The free event is open to the public and highlights emerging technologies and their impact on daily life. Esrey has led Sprint since 1985 and 1990 respectively, guiding its shift to long distance and digital fiber networks and nationwide wireless growth.
Lawrence Jaycees leader visits town to boost membership as the local chapter grows from 17 to 26. The nationwide Junior Chamber International totals 400000 members in 100 countries, with a peak above 600000 a decade ago. The program includes scholarships, Independence Day fireworks, leadership training, and networking. Kezia Shine joined at 52 yearly fee seeking business contacts through Verizon Wireless.
Wheat soybeans and corn prices from Farmers Cooperative Sout Elevator Midland Elevator and North Elevators shown. USDA loan deficiency payments listed for corn oats soybeans. Cattle hogs feeder prices and receipts at St Joseph with steady to lower markets. Nonferrous metal spot prices in New York include gold silver and platinum quotes.
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