Market Watch Snapshot January 14 2005 NYSE Nasdaq
Market diary shows NYSE advancing 2 212 with 4 1 decline and 1 063 NYSE new highs 1 661 614 440 shares traded. Nasdaq diary reports 2 077 advancing 65 declines and 27 new lows with 2 060 698 032 shares traded.
Tyco retrial set as Boeing to end 717 production next year
In Port NY the Tyco International retrial of L Dennis Kozlowski and Mark Swartz over alleged $600 million theft is slated to begin next week with prosecutors expected to focus on larger alleged misappropriations rather than items like a $6000 gold shower curtain. In Chicago Boeing Co announces end of 717 production next year and will record a $615 million charge affecting fourth quarter and full year 2004 results, with shares up 28 cents at $50.91 after prior declines.
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New York
Tyco International Ltd
L. Dennis Kozlowski
Mark Swartz
Chicago
Boeing Co
U.S. Air Force
Boeing
New York Stock Exchange
Oracle cuts 5000 after PeopleSoft takeover
Oracle Corp will fire 5,000 workers following its 10.3 billion takeover of PeopleSoft Inc. The 9 percent payroll reduction comes from the combined 55,000 employees, a smaller purge than Oracle planned 19 months ago when aiming to dismiss at least 6,000 PeopleSoft staff.
MENTIONED IN THIS ARTICLE
San Francisco
Oracle Corp
PeopleSoft Inc
Oracle
PeopleSoft
Goodyear director resigns after perjury charge
James Zimmerman, former chairman and CEO of Federated Department Stores, resigns from Goodyear Tire board amid perjury charges related to an antitrust probe. He pleaded not guilty. He had served since June 2001.
MENTIONED IN THIS ARTICLE
Akron
Ohio
Goodyear Tire & Rubber Co
James Zimmerman
Federated Department Stores Inc
Goodyear
Union asks for summit on airline woes
A major airline union urged the Transportation Department to convene a summit of management labor and consumer groups to tackle the industry crisis. Robert Roach Jr. of the IAMAW said a joint session could help rebuild a safe efficient system amid revenue losses and job cuts this decade.
MENTIONED IN THIS ARTICLE
Union
Transportation Department
Norman Y. Mineta
Robert Roach Jr
International Association of Machinists and Aerospace Workers
Roach
Joseph Tiberi
Machinists
Mineta
Labor and Management
Department
U.S. Service
Comair
Delta Air Lines
Northwest Airlines
US Airways
Philadelphia
Food industry nudged toward good health
Chicago based analyst says a real ground shift is underway as dietary guidelines push for more whole grains fruits and vegetables and less fat in foods. Kraft PepsiCo Gorton Dannon and others announce healthier options and labeling while chains add salads and lighter meals to menus amid rising obesity concerns.
MENTIONED IN THIS ARTICLE
Chicago
Bob Goldin
Technomic Inc
Goldin
PepsiCo Inc
Grain Foods Foundation
USDA
Gorton Inc
Gorton
Dannon Co
Dannon
McDonald's Inc
Wendy’s International Inc
Burger King Corp
Morningstar Inc
Mark Hugh Sam
McDonald’s
Food industry shifts toward healthier labeling and products
In 2004 to 2005 the food industry pursued better labeling and healthier options. Hershey Foods backs SmartZone with Dr Barry Sears endorsement while government requires trans fat labeling by 2006. General Mills pledges whole grain cereals. Coca Cola and Pepsi reform labels for full container and 8 ounce serving. Kraftcreens ad curbs for kids. Industry figures warn PR tactics amid calls for broader nutrition reforms.
MENTIONED IN THIS ARTICLE
Xavier Pi-Sunyer
Pi-Sunyer
St. Luke’s- Roosevelt Hospital
New York
Kraft Foods Inc
Vending Machine Trade Association
Hershey Foods
Barry Sears
General Mills
Coca-Cola
Pepsi-Cola
Margo Wootan
Center For Science In the Public Interest
Nick Hahn
Coca-Cola Co
Hahn
Vivaldi Partners
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