new yorkDennis Seid 4/3/09
Wall Street looks past
job data, logs gains
n NEW YORK – Not even grisly job losses could get in the stock market’s way Friday.
The Dow Jones industrial average clawed higher to end above 8,000 for the first time in nearly two months, and logged an impressive fourth straight week of gains.
The Dow climbed 39.51, or 0.5 percent, to 8,017.59. That is the index’s highest close since Feb. 9, when the index ended at 8,270.87. The Standard amp& Poor’s 500 index rose 8.12, or 1 percent, to 842.50. The Nasdaq composite index rose 19.24, or 1.2 percent, at 1,621.87, helped by BlackBerry maker Research in Motion Ltd., whose shares surged on better-than-expected profits.
BancorpSouth sets April 22
meeting with shareholders
n TUPELO – BancorpSouth Inc.’s annual shareholder meeting is scheduled for 9 a.m. April 22 at the the company’s main office at 201 Spring St.
Shareholders and investors may access the live Web cast by going to BancorpSouth’s website at www.bancorpsouth.com and selecting the investor relations page.
FedEx lays off 1,000
workers to cut costs
n MEMPHIS – FedEx Corp. laid off 1,000 employees Friday to meet job cuts the package delivery company announced were coming after third-quarter earnings dropped 75 percent.
FedEx said half of the dismissed workers – all of whom were salaried or management employees – were employed in Memphis, where the corporation and its largest operating unit, FedEx Express, are headquartered. Before the cuts, FedEx Corp. had about 33,000 employees in the Memphis area and 290,000 workers worldwide.
Disney cuts 1,900
jobs at theme parks
n LOS ANGELES – The Walt Disney Co. says it has cut 1,900 positions at its U.S. theme parks due to the slumping economy.
Some 1,200 people were laid off and 700 open positions will be left unfilled. Disney spokeswoman Tasia Filippatos said Friday the cuts “reflect today’s economic realities.”
The cuts were part of a reorganization announced in February. Among the cuts were 50 executives who accepted a voluntary buyout that was offered to 600 people.
The vast majority of the cuts came from managerial and other salaried staff, not from employees in the parks who interact with park visitors.