Dow Surges Over 440 Points as Markets Rally
Investors bought stocks with enthusiasm on Monday lifting the Dow Jones industrials by 447.49 points to 8711.88, its third biggest one day gain. Nasdaq rose 73.13 to 1495.95 and the S&P 500 gained 46.12 to 898.96 amid optimism that earnings will improve and that accounting scandals may end. Analysts noted the market shrugged off Qwest accounting restatements as it seeks firmer footing.
MENTIONED IN THIS ARTICLE
New York
Dow Jones
Dow
John C. Forelli
Independence Investment LLC
Boston
Standard & Poor
Qwest Communications
Qwest
Dollar Gains, Gold Falls as Markets Rally Amid Legislation
The dollar strengthened against major currencies in Europe with the euro around 97.75 cents. Gold fell to about $302 per ounce as stocks rose, aided by House and Senate progress on tougher accounting laws. Analysts warned the market could be volatile despite broad gains, with earnings outlooks still uncertain and calls for more dependable accounting. Major indices and sectors advanced, including IBM, Citigroup, Cardinal Health, Williams-Sonoma, and Tommy Hilfiger, as Europe and Asia posted gains and the Russell 2000 closed above 400 for the first time since July.
MENTIONED IN THIS ARTICLE
London
Reena Ewesup
Citigroup
Cardinal Health
Credit Suisse
First Boston
Williams-Sonoma
Lehman Brothers
Tommy Hilfiger
Malley
Japan
Europe
France
Britain
Germany
BP to Replace Big Boy Site With BP Connect in Amherst
The vacant Big Boy and BP station on North Leavitt Road in Amherst will be demolished and replaced by a BP Connect Station with a Wild Bean Café. The 4,200 square foot facility, costing about $2 million, will use solar panel canopies on gas islandes. Construction start date has been delayed with no clear timeline.
MENTIONED IN THIS ARTICLE
Amherst
North Leavitt Road
BP Connect
Kaye Browning
Amherst Zoning Board and Planning Commission
N. Leavitt Road
Mary Caprella
Caprella
Browning
Big Boy
Budget Group Inc files Chapter 11 in bankruptcy
Budget Group Inc the Daytona Beach based parent of Budget Rent- A Car and Ryder truck rentals filed for Chapter 11 protection blaming the post Sept 11 drop in travel The company listed assets of 4 05 billion and liabilities of 4 33 billion and said operations will continue while it restructures The note cites up to 850 million in financing and names Sandy Miller as chairman and CEO
MENTIONED IN THIS ARTICLE
Daytona Beach
Flaapy
Budget Rent-A Car
Ryder Truck Rentals
Budget Group Inc
Budget Rent-A-Car Systems
U.S
Wilmington
Sandy Miller
Qwest to restate 2000 01 earnings amid accounting probes
Denver AP report notes Qwest Communications International will restate its 2000 and 2001 results after discovering accounting errors from 1999 to 2001. The firm hired KPMG to review books, aims to reveal corrected figures, and cautions revisions may affect Dex yellow pages sale and debt reduction efforts.
MENTIONED IN THIS ARTICLE
Denver
Qwest
Qwest Communications International Inc
Arthur Andersen LLP
Kpmg LLP
Baby Bell Us$ West
Richard Notebaert
Notebaert
Dublin
Ohio
Columbus
Richard Klugman
Jefferies & Co
Klugman
QwestDex
Dex
Tom Friedberg
Brean Murray and Co
New York Stock Exchange
KPMG
Oren Shaffer
Siemens to close Ohio plant, relocate jobs to Canada
Siemens AG said it will shut its Fort Shawnee Ohio plant that makes car parts, laying off about 215 workers over six weeks. Production will move to two Ontario factories, as the plant opened five years ago and Siemens employs over 450,000 worldwide.
MENTIONED IN THIS ARTICLE
Berlin
Dow Jones/ AP
Siemens AG
Ohio
Siemens
Fort Shawnee
Toledo
Ontario
Canada
Also Mentioned on This Page
Forelli
Adelphia
Zurich
Hong Kong
House
Senate
Susan L. Malley
Malley Associates Capital Management
IBM
Bire
Chuck Humel
Rob Phillips
Iphilips
Chronicletelegram
Dollarbank.com
Our
Pat Weconeays
Auto Parts
Oie
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