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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Sep 15, 2007
Page
5
Stocks steadied after a strong week despite weak August retail sales and credit market jitters. Traders weighed a possible rate cut at the Federal Reserve meeting next week as banking turmoil spurred caution and European bailout news added to uncertainty.
Sara Lee Corp chief Brenda Barnes received 9.1 million in compensation for the year ended June 30, including a 1 million salary, 2.8 million in stock, 3.3 million in options, and 1.8 million in bonuses. The filing notes the company posted 504 million profits, down from 555 million prior year, as it pursues a multi year turnaround amid restructuring. Annual meeting set for October 25 in Oakbrook Terrace.
The Dow Jones industrial average rose 17.64 points to 13,442.52, a 0.13 percent gain, marking a 2.5 percent advance for the week and its best showing since April.
Agriculture futures moved higher as Friday trading closed on the Chicago Board of Trade. Wheat for December rose to 8.46 a bushel while December corn gained 2.25 cents to 3.49 a bushel. December oats advanced to 2.8075 a bushel and November soybeans climbed 13.5 cents to 9.5475 a bushel.
Eastern Cornbelt carcass prices range from 53.00 to 69.00 per hundredweight across thicknesses. Today's negotiated purchases total 15,623. Illinois hog laws hold trading steady with moderate demand. 300-400 lb hogs bring 82.00 to 35.00, 400-500 lb 34.00 to 36.00, 500-600 lb 36.00 to 38.00, over 600 lb 37.00 to 40.00. Boars under 300 lb 26.00 to 30.00, over 300 lb 11.00 to 14.00.
Citigroup and IBM lead trading as NYSE list shows active movers. Coca Cola, JPMorgan, AMR, ExxonMobil, Boeing, Intel, and General Electric post varied gains and losses amid broad market volatility.
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