Inflation edges up as clothing drop offsets gasoline rise
April CPI rose 0.3 percent led by a 13 percent fall in clothing, offsetting higher gasoline costs. Core inflation gained 0.2 percent for second straight month as prices excluding food and energy climbed. Hewlett-Packard reports Q2 net income down 66 percent to $319 million on $11.6 billion revenue, easing past expectations.
MENTIONED IN THIS ARTICLE
Labor Department
Agriculture Delinquency Rates Fall on Farm Loans
Delinquency rates on government farm loans dropped sharply as farmers risk loss of credit for missed payments. About 21 percent of $8.7 billion direct loans were delinquent as of September down from 41 percent in 1995, while $8 billion in guaranteed loans stayed at 3.5 percent. Congress changes in 1996 bar new loans to delinquent borrowers or those with forgiven debt.
MENTIONED IN THIS ARTICLE
Agriculture Department
General Accounting Office
Campbell Soup quarterly profits dip on higher costs
Campbell Soup Co. reported a 12 percent drop in third quarter profits as higher marketing, interest, and corporate expenses offset modest sales gains. For the three months ending April 29 the company posted net earnings of $122 million or 30 cents per share, in line with Thomson Financial/First Call forecasts.
MENTIONED IN THIS ARTICLE
Hewlett-Packard Co
Wall Street
Campbell Soup Co
Campbell’s
Thomson Financial
First Call
Krispy Kreme Posts Strong First Quarter Profits Rise
Krispy Kreme Doughnuts Inc reports first quarter earnings of 5.7 million dollars or 20 cents per share, up from 3 million dollars or 13 cents a year earlier. The Winston-Salem based company beats Thomson Financial estimates as stock moves to the NYSE.
MENTIONED IN THIS ARTICLE
Krispy Kreme Doughnuts Inc
New York Stock Exchange
Winston-Salem
N.C
Thomson Financial
First Call
Interest rises in refinancing trends this year
Mortgage rates have stayed below 7 percent for 15 year fixed and one year ARM loans through the year. Freddie Mac reports 15 year rates at 6.61 percent last week and one year ARMs at 5.90 percent, with about 1 percent points for fees. Experts foresee a steady range with brisk but slower refinancing, estimating over $600 billion this year.
MENTIONED IN THIS ARTICLE
Freddie Mac
Stuart Hoffman
PNC Financial Services Group
Doug Duncan
Mortgage Bankers Association of America
Magazines suffer worst year at newsstands
New York reports a 3.9 percent drop in magazine newsstand revenues to 4.43 billion, with single-copy sales down 9.6 percent to 1.61 billion and the sell-through rate at a record low of 35 percent. Harrington Associates notes 2000 was likely the worst year for single-copy sales amid wholesaler consolidation and higher postal rates.
MENTIONED IN THIS ARTICLE
New York
Harrington Associates
Norwalk
Conn
Harrington
Local Market Quotes and Metal Prices Update
Wednesday quotations show Farmers Cooperative Assn South Elevator wheat 4.26 soybeans 4.26 milo 1.65 corn 1.75. Midland wheat 4.26 corn 81.73 milo NA. North Elevator wheat 2.94 soybeans 4.26 milo 1.65 corn 1.75. USDA loan deficit payments corn 0.16 soybeans 0.97. St Joseph livestock receipts 600. feeder steers and heifers mostly steady with some calves 1.00-2.00 lower. feeder steers 528-595 lb 100.00-110.00. 613-641 lb 97.00-98.00. fleshy 740 lb 84.25. feeder heifers 536 lb 98.50. Nonferrous metals spot prices gold 270.90 per oz silver 4.385 per oz.
MENTIONED IN THIS ARTICLE
Farmers Cooperative Assn
South
Milo
Midland
North
USDA
St. Joseph
St. Joseph, Mo
New York
Handy & Harman
Also Mentioned on This Page
Carolyn Cooksie
Hewlett-Packard
Campbell Soup
Krispy Kreme
Sunflower
Sunflower Cablevision
Fed
Duncan
Commerce Department
Lawrence
Ava Shington
Riverfront Plaza
Ste. 301
Realty “Executives
HedgesRealEstate.com
Vermont
Realty ExecutivesHedges
Earl Kassan
Peggy Johnson
Financial Advisors
Mesa Way
KTEF