Stocks Falter at Open

Treasuries are also lower in early going.

By Brian Louis , Mar 9, 1999 9:59 AM EST

Stocks and Treasuries slipped slightly in the early going.

The

Dow Jones Industrial Average

was down 41 to 9687. The

S&P 500

was down 6 to 1277. The

Nasdaq Composite Index

was down 1 to 2397. The

Russell 2000

was down 1 to 399.

TheStreet.com Internet Sector

was down 4 to 567.

TheStreet.com E-Commerce Index

was down 2 to 101.

The 30-year Treasury bond was down 9/32 to 94 25/32, yielding 5.61%.

Most Up at Open -- NYSE

Sony (SNE) - Get Report, up 2 11/16 to 88 1/2

: Sony announced a major restructuring, including job cuts totaling 17,000 over four years. The company will also slice the number of its manufacturing facilities worldwide to 55 from 70.

Most Up at Open -- Nasdaq

Lycos (LCOS) , up 9 3/4 to 93 5/8

CMGI

(CMGI)

Chairman and Chief Executive Officer David S. Wetherell has resigned from Lycos' board of directors. CMGI is the largest Lycos shareholder. Lycos has agreed -- subject to shareholder approval -- to merge with parts of

USA Networks

(USAI) - Get Report

. The newly formed entity is to be called

USA/Lycos Interactive Networks

. Wetherell said in a news release that "it is my opinion that the terms of the USA/Lycos transaction are inadequate for Lycos shareholders. As such, I am resigning from the Lycos board in order to be free to explore the best options available to Lycos shareholders, including the possibility of Lycos remaining independent."

For its part, Lycos said this morning it "remains fully committed to the USA/Lycos Interactive Networks transaction."