Profit-taking trims Dow amid Nasdaq rally pauses
The first real wave of profit-taking hit the summer stock rally Tuesday. The Dow Jones average fell 105.56 to 9,190.19 after an early 48-point gain, while the Nasdaq composite dropped 35.11 to 1,979.14, snapping a nine-session Nasdaq closing-record streak. IBM rose on strong results, but others like Dell, Microsoft, and Cisco slid, as traders weighed Greenspan's remarks on rate cuts.
MENTIONED IN THIS ARTICLE
New York
Congress
Alan Greenspan
Federal Reserve
IBM
Wall Street
Merck
Dell Computer
Microsoft
Cisco Systems
Stock Market Snapshot with Funds and Stocks Listed
A dense OCR page lists mutual funds and stock prices with last values and changes. Funds such as Founders Funds and Monetta appear alongside numerous equity tickers and broker notes, showing last prices and percentage shifts across varied sectors and issuers.
Horizon Bancorp posts record six month net income rise
Beckley based Horizon Bancorp announced a record second quarter net income of 3.7 million dollars, 40 cents per share. For the first half year, net income totaled 7.3 million dollars, 80 cents per share, up from 6.75 million dollars, 73 cents per share a year earlier. The bank with assets around 1 billion dollars operates five banks and 22 offices in southern West Virginia.
MENTIONED IN THIS ARTICLE
Horizon Bancorp
Beckley Based
Horizon
West Virginia
Federal judge orders GM and UAW into arbitration
A Michigan federal judge formalized an order for General Motors and the United Auto Workers to enter arbitration over GM’s claim that the union’s prolonged strikes are illegal. Judge Paul V. Gadola warned of contempt and fines for delays and said he can enforce any arbitrator ruling.
MENTIONED IN THIS ARTICLE
Flint, Mich
United Auto Workers and General Motors Corp
Paul V. Gadola
UAW
Michael Nicholson
Gadola
Thomas Roberts
Philip Morris reports lower Q2 earnings on settlements
Philip Morris Cos Inc posted a 2 percent drop in second quarter profit to 1.80 billion amid tobacco lawsuit settlements and an early-retirement program. Excluding those costs, profit rose 8.9 percent. Global tobacco earnings benefited from higher prices while domestic shipments fell and the strong dollar weighed on results. Kraft foods earnings rose domestically but fell overseas due to European softness.
MENTIONED IN THIS ARTICLE
New York
Philip Morris Cos. Inc
Kraft
Philip Morris
Also Mentioned on This Page
Nyse Diary
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Ciscos
CtyHid Comairs
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Intel
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SunMart
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Telenz
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Unifi
Ucarb
UnionPac
Unisys
Usindis
UtiliCo
Vfcps
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Wesveco
Whripi
Williamss
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Associated Press
By Brian S. Axre
Frank Jaworski
Jaworski
Nicholson
Means Lumber
E. Main Street
Sisson Street
Oak Hill
Beckley
Tylo
Guyandotte Ave
Mullens, WV
S. Oakwood Ave
Raleigh General Hospital
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