Stocks fall in cautious trading after mixed earnings
In New York investors grew cautious sending stocks lower after Sears and United Technologies beat estimates while fear of war with Iraq lingered. Dow fell 25.31 to 8697.87 and Nasdaq slipped 15.05 to 1423.79 as Microsoft edged up on post earnings news and an upcoming dividend and stock split were announced.
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AOL Names Parsons as New Chairman
AOL Time Warner chief Dick Parsons was named chairman while remaining CEO, effective May 16 at the annual meeting. The move follows Steve Case’s resignation amid investor backlash over the $106 billion merger and stock declines. Parsons, a Time Warner veteran, will lead as Case exits.
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Time Warner Inc
Dick Parsons
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America Online
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AOL Time Warner
Grain futures slip on CBOT as exports ignore gains
Good export news fails to lift Chicago Board of Trade grains as soybeans, corn and wheat all close lower. Soybeans ease after a tug of war between funds and export optimism, with weekly exports running well above four week averages. Wheat, corn and oats drop on light trading as export numbers align with forecasts.
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Chicago
Chicago Board of Trade
Stockyards Springfield hog market report shows light demand
Eastern Cornbelt carcass prices on light test with negotiated purchases totaling 17,757 Illinois Direct Hogs Laws. Prices by weight range from 16.00 to 24.00 for 1 3 300-400 Ibs to over 600 Ibs, boars under 300 Ibs 12.00-19.00 mostly 17.00, over 300 Ibs 4.00-6.00. Trend mostly steady with light demand for moderate offerings.
MENTIONED IN THIS ARTICLE
Springfield
Illinois
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