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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jan 22, 2003
Page
5
Motorola Inc reports a 174 million dollar net profit in the fourth quarter, its second straight quarterly gain amid a two year restructuring. Revenue reaches 7.5 billion, up 3 percent, with operating profits up in five of six divisions except wireless network equipment.
Grain futures in Chicago bought by cold weather fears in the Great Plains with winter wheat crop concerns, Kansas singled out. Wheat for March delivery rose to 3.19 a bushel, corn gained to 2.33, oats slipped to 2.11, soybeans held at 5.56 amid light trading after holiday.
Stockyards Springfield reports carcass prices closing steady across weight classes with 0.5 to 0.9 inch backfat ranges. Illinois direct hog purchases total 18 973. Demand light for moderate offerings with steady to weak trends. Buyers see 1 to 3 and 400 to 500 pound categories at specified ranges, boar prices listed by weight.
Washington AP reports December housing starts rose 5 percent to a 1.84 million annual rate, the strongest pace since June 1986. November was revised up to 1.75 million, while 2002 builders began 1.70 million units, a 6.4 percent rise, marking the best year for single family and overall starts since 1986.
Sprint Corp reported tentative agreements with local telephone workers in Florida Indiana Tennessee and North Carolina after a 1 p.m. Eastern deadline. Negotiations continued in Oregon with a fifth state union. About 2700 workers faced a potential strike, with rank and file approval pending. The last walkout in Sprint's local division occurred in 1989 in New Jersey.
Smurfit Stone Container Corp plans to shut its St. Paul folding carton plant by mid March, laying off about 100 workers. The closure, cited as due to the economy, costs and overlap with other facilities, follows at least five prior Smurfit plant closings since November, with the plant producing cartons for milk, dog food and beauty products.
U S markets slump as earnings from 3M and Ford mix with fears of war in Iraq. Dow drops 143.84 points to 8442.90, extending four day decline as Nasdaq and S&P also fall amid cautious corporate outlooks and regional tensions.
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