Stocks were moderately mixed as

NATO

launched an attack against Yugoslavia this afternoon.

The

Dow Jones Industrial Average

was down 6 to 9666.

American Express

(AXP) - Get Report

was the biggest drag on the Dow, off 3 7/8, or 3%, to 117 7/16. Meanwhile, the

S&P 500

was up 1 to 1263. The

Nasdaq Composite Index

was up 9 to 2323. The

Russell 2000

was down 1 to 382.

Internet stocks were sustaining a beating.

TheStreet.com Internet Sector

index was down 18 to 579.

TheStreet.com E-Commerce Index

was down 3 to 106.

Louis Todd, head of equities trading at

J.C. Bradford

, said news of the beginning of the attack took the market down a little bit. It has since pared those losses and the Nasdaq Comp and S&P 500 have now risen above water.

Todd noted that yesterday the market sold off in part in response to the threat of the air strikes. Todd added the attacks against Yugoslovia have been priced into the market. But he also said that could change if there is some escalation of the conflict.

The 30-year bond was up 8/32 to 95 26/32, yielding 5.54%.

On the

New York Stock Exchange

, decliners were beating advancers 1,509 to 1,341 on 588 million shares. On the Nasdaq, losers were beating winners 2,121 to 1,690 on 658 million shares.

On the NYSE, 99 issues had set new 52-week lows while 9 had touched new highs. On the Nasdaq, 108 stocks had set new lows while 17 touched new highs.

Most active on the Big Board was

America Online

(AOL)

, with 28 million shares changing hands. It was down 4 15/16 to 116 1/8.

AOL

this afternoon outlined a restructuring in the wake of the completion of its purchase of

Netscape

, a takeover which was completed last week.

On the Nasdaq,

Dell

(DELL) - Get Report

was most active, with 41 million shares changing hands. It was up 2 1/16 to 37 7/8.

1:57 p.m.: Stocks Continue to Range Trade Near Unchanged

The major market averages were little changed this afternoon, continuing to trade in a narrow range around unchanged.

The

Dow Jones Industrial Average

was down 11 to 9661. The

S&P 500

was down 1 to 1261. The

Nasdaq Composite Index

was up 5 to 2328. The

Russell 2000

was down 1 to 383.

TheStreet.com Internet Sector

index was down 13 to 584.

TheStreet.com E-Commerce Index

was down 3 to 106.

The 30-year Treasury bond was up 7/32 to 95 27/32, yielding 5.54%.

Selected sectors were enjoying strength. Utility stocks surged. The

Dow Jones Utility Average

was up 2%. Meanwhile, gold mining stocks gained as did oil service issues. The

Philadelphia Stock Exchange Gold and Silver Index

was up 2%, while the

Philadelphia Stock Exchange Oil Service Index

was also up 2%.

On the

New York Stock Exchange

, decliners were beating advancers 1,464 to 1,337 on 488 million shares. On the

Nasdaq Stock Market

, losers were beating winners 2,006 to 1,658 on 555 million shares.

On the NYSE, 85 issues had set new 52-week lows while 8 had touched new highs. On the Nasdaq, 91 issues had set new lows while new highs totaled 14.

Most active on the Big Board was

America Online

(AOL)

, with 25 million shares changing hands. It was down 5 5/16 to 115 11/16.

In the wake of its acquisition of

Netscape

, AOL this afternoon said it is organizing itself into four product groups, with each of the groups reporting to Bob Pittman, AOL's president and chief operating officer. AOL said both AOL and Netscape execs have been named to key management positions within these groups. AOL said that as part of the Netscape integration, 350 to 500 positions will be cut at Netscape and about the same number across AOL's other operations. AOL said it plans to take a charge in its fiscal 1999 third quarter for the integration of Netscape and the company's reorganization. The amount of the one-time charge will be announced at a later date, the company said.

On the Nasdaq,

Dell

(DELL) - Get Report

was most active, with 37 million shares changing hands. It was up 1 11/16, or 5%, to 37 7/16.

Company Focus: Miningco.com

MiningCo.com

(MINE)

joined the tradition of Net stocks soaring on their first days of trading. Today, in its trading debut, it jumped 29 1/8, or 116%, to 54 1/8. The company's 3 million-share IPO was priced yesterday by

Bear Stearns

at $25. Miningco.com is an Internet news, information and entertainment service.

1:12 p.m.: Midday Musings: Market Muddles Through Session With an Eye on the Balkans

12:04 p.m.: Stocks Struggle to Enter Positive Territory

The market's major barometers were mostly higher this morning, as the

Nasdaq Composite Index

led the market percentage-wise on the upside.

The Nasdaq Comp was up 3, or 0.2%, to 2326.

The

Dow Jones Industrial Average

was up 2 to 9674. The

S&P 500

was down 1 to 1261. The small-cap

Russell 2000

was down fractionally at 383.

The 30-year Treasury bond was up 9/32 to 95 27/32, yielding 5.54%.

TheStreet.com Internet Sector

index was down 6 to 591.

TheStreet.com E-Commerce Index

was down 2 to 107.

On the

New York Stock Exchange

, decliners were beating advancers 1,304 to 1,302 on 338 million shares. On the

Nasdaq Stock Market

, losers were beating winners 1,784 to 1,602 on 397 million shares.

On the NYSE, 55 issues had set new 52-week lows while 5 had touched new highs. On the Nasdaq, 67 issues had set new lows while new highs totaled 12.

On the Big Board,

America Online

(AOL)

was most active, with 19 million shares changing hands. It was down 3 13/16 to 117 1/4.

Brown Brothers Harriman

cut its short-term rating on AOL to neutral from buy.

On the Nasdaq,

Dell

(DELL) - Get Report

was most active, with 32 million shares changing hands. It was up 1 1/2 to 37 1/4.

Tech Focus

The major tech gauges were higher. The

Nasdaq 100

and the the

Morgan Stanley High-Tech 35

were both up fractionally. The

Philadelphia Stock Exchange Computer Box Maker Index

and the

Philadelphia Stock Exchange Semiconductor Index

were both up 1%.

IBM

(IBM) - Get Report

and corporate data storage equipment supplier

EMC

(EMC)

set a five-year strategic alliance today valued at $3 billion. IBM was up 2 5/16 to 167 11/16, while EMC was up 1 9/16 to 115 7/16.

In the Newsletters

Sources close to the

Netscape

division of AOL said yesterday that key management and product decisions may be revealed at a meeting set for this morning at Netscape headquarters in Mountain View, Calif., according to an article on

Computer Reseller News'

Web site.

The report says Bob Pittman, AOL's president and chief operating officer, as well as Barry Schuler, AOL's president of interactive services, are expected to appear with outgoing Netscape Chief Executive Jim Barksdale to explain management changes and to answer questions from Netscape employees. The article said widely published reports of layoffs in Netscape's 2,500-member workforce have speculated that anywhere from 10% to 30% of Netscape's employees might get pink slips.

11:01 a.m.: Stocks Stuck in Negative Territory

Stocks remained lower in the wake of yesterday's sharp selloff.

The

Dow Jones Industrial Average

was down 1 to 9671. The

S&P 500

was down 1 to 1262. The tech-heavy

Nasdaq Composite Index

was down 5 to 2317. The small-cap

Russell 2000

was down 1 to 383.

TheStreet.com Internet Sector

index was down 12 to 585.

TheStreet.com E-Commerce Index

was down 2 to 106.

The 30-year Treasury bond was up 10/32 to 95 28/32 yielding 5.53%. On the economic front today,

durable goods orders

fell sharply, down 5% in February, the

Commerce Department

reported.

In other news,

Abby Joseph Cohen

of

Goldman Sachs

revised her year-end S&P 500 price target to 1325 from 1275-1300 and her Dow target to 10,300 from 9850.

Worries over earnings and the situation in Kosovo was blamed in part for yesterday's selloff and continued to weigh on the market today.

However, some say those factors were just excuses for selling in a market that was poised to fall, considering its poor technical condition, and its recent sharp runup.

At first, 10,000 on the Dow was a "purely psychological" barrier, but now it's becoming a technical barrier, said Ricky Harrington, senior vice president and technical analyst at

Interstate/Johnson Lane

. He said any return to that level would find sellers.

Harrington noted that especially in the last two or three weeks new lows have outnumbered new highs by about 2 to 1.

If the Dow can find support at 9400 to 9500, it could get a rebound to 9800 or maybe a little higher, possibly next week. However, the blue-chip average will run into trouble there, Harrington said.

Meanwhile, cosmetics giant

Revlon

(REV) - Get Report

, which has surged recently on speculation that it is a takeover target, was jumping again today, up 4 11/16, or 28%, to 21 3/4. Yesterday, the

New York Stock Exchange

said Revlon declined to comment on its unusual market activity or rumors when the Big Board contacted it and asked that the company issue a statement which might explain the unusual activity in the stock.

On the

New York Stock Exchange

, decliners were beating advancers 1,230 to 1,196 on 222 million shares. On the

Nasdaq Stock Market

, losers were leading winners 1,668 to 1,423 on 267 million shares.

On the NYSE, 44 issues had set new 52-week lows while 5 had touched new highs. On the Nasdaq, 56 issues had set new lows while new highs totaled 10.

On the Big Board,

America Online

(AOL)

was most active, with 14 million shares changing hands. It was down 4 1/8 to 116 7/8.

On the Nasdaq,

Dell

(DELL) - Get Report

was most active, with 23 million shares changing hands. It was up 1 1/4 to 37.

9:55 a.m.: Stocks Extend Tuesday's Losses

Stocks were mostly weaker in the early going after yesterday's whopping selloff.

Meanwhile,

Abby Joseph Cohen

of

Goldman Sachs

revised her year-end

S&P 500

price target to 1325 from 1275 to 1300 and her

Dow Jones Industrial Average

target to 10,300 from 9850.

The situation in Kosovo is also on the market's mind.

The Dow was down 14 to 9658. The S&P 500 was down 2 to 1260. The

Nasdaq Composite Index

was down 15 to 2307. The

Russell 2000

was down fractionally to 383.

TheStreet.com Internet Sector

index was down 14 to 583.

TheStreet.com E-Commerce Index

was down 3 to 106.

The 30-year Treasury bond was up 12/32 to 95 30/32, yielding 5.53%.

Most Up at Open -- NYSE

IBM (IBM) - Get Report, up 2 5/8 to 168

: IBM and corporate data storage equipment supplier

EMC

(EMC)

set a five-year strategic alliance valued at $3 billion.

Most Up at Open -- Nasdaq

uBid (UBID) , up 3 1/2 to 75

.

Most Down at Open -- NYSE

America Online (AOL) , down 2 to 119

.

Most Down at Open -- Nasdaq

RealNetworks (RNWK) - Get Report, down 3 5/16 to 114 11/16

.