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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jul 11, 2001
Page
13
The article notes 401(k) plan losses breaking a 20 year trend with average accounts shrinking from about 46,740 to 41,919 as participants react to declining earnings. Experts urge long term focus and cautious fund allocation amid market volatility and four rate-cut cycles.
Chicago Board of Trade corn futures reached two month highs as traders priced in a looming Midwest heat wave. Wheat and oats also climbed with corn. September wheat rose to 2.71 a bushel, December corn to 2.28, September oats to 1.19, and November soybeans to 4.96 a bushel. Livestock futures showed mixed moves with August live cattle at 72.70, feeder cattle at 90.07, lean hogs at 68.12, and frozen pork bellies up 3 to 87.95. The report notes a company earnings of 3073 million or 9 cents a share for the period ending June 16.
Wall Street extended losses after Corning signaled a slowdown in 2001 as investors faced weak earnings guidance. The Dow fell 123.6 to 10,175.6 while the S&P 500 dropped 17.26 and tech shares tumbled on profit worries and job cuts. Analysts warned against expecting a near term rebound as earnings warnings mounted and expectations for a year end recovery faded. Global markets showed mixed responses with Japan up and Europe mostly down.
Carl Grauvogel of Premium Cigar Specialists and David Castro of Davidus Cigars Frederic stand by Club Macanedo on Tour, a 45 foot bus converted into a smoking lounge. The rolling club recreates Club Macazudo in New York as it visits selected U.S. cities this fall.
The Houston based tech giant plans about four thousand layoffs as sales lag year earlier figures. The article notes broader retail and economic pressures, with related mentions of The Limited Lerner New York chain stores and others facing challenging conditions. The piece references overseas moves and corporate strategies aimed at agility and cost control.
An insurance representative in Frederick invites inquiries from Consumers who may want to file a complaint. Darden Restaurants Inc reports June sales increases of 5 percent at Olive Garden and Red Lobster.
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