Feb. 10, 1999

Specter says he won't vote to convict Clinton; a judge gives a Fen-Phen suit little weight.
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Markets

After a day of meandering, U.S. stocks closed mixed. Blue-chips rode a late rally to post modest gains, while the tech-laden

Nasdaq Composite Index

rode a roller coaster to a nearly even-steven close. Internet issues failed to inspire confidence for the fifth straight day.

The

Dow Jones Industrial Average

gained 44.28 to 9,177.31 and the

S&P 500

rose 7.41 to 1,223.55. The

Nasdaq Composite Index

dipped 1.28 to 2309.51, the small-cap

Russell 2000

dropped 5.17 to 397.96 and

TheStreet.com Internet Sector

index shed 5.36 to close at 450.90.

European bourses closed lower, while Asian markets ended mixed, as Japan's

Nikkei

gained 49.74 to 13,952.40, while Hong Kong's

Hang Seng

shed 168.16 to 9076.33.

For more markets action and news, click

here.

Companies

A federal judge dismissed a shareholder lawsuit alleging

American Home Products

(AHP)

executives delayed the release of negative medical data on diet drugs

Redux

and

Pondimin

until they could unload AHP stock.

AMR's

(AMR)

American Airlines

asked a federal judge to order its pilots back to work. The company was forced to cancel 900 flights today.

Bristol-Myers Squibb

(BMY) - Get Report

announced that it won't take

EntreMed's

(ENMD)

anticancer drug angiostatin to clinical trials.

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biotech reporter

Jesse Eisinger

had his

doubts last May when the hype on EntreMed hit the Street.

Citigroup

(C) - Get Report

plans to move its credit-card business from

Visa

to rival

MasterCard

, according to

The Wall Street Journal

.

Forget the stinkin'

Marlboro

leather jacket -- a California jury awarded a smoker with inoperable cancer $1.5 million for medical costs, pain and suffering incurred at the hands of

Philip Morris

(MO) - Get Report

.

For more news on companies and stocks, click

here.

Tech

An

E*Trade

(EGRP)

customer has filed a lawsuit against the company, seeking damages for trading losses caused by last week's recent technical problems at its Web site, according to

Bloomberg News

.

Shares of

Lycos

(LCOS)

continue to fall after the yesterday's news of its acquisition by

USA Networks

(USAI) - Get Report

. The stock was lately down 6 7/16 to 87 1/4.

TSC

contributor

Jim Seymour

is the latest to

weigh in on the deal.

For more tech news and commentary, click

here.

International

U.S. packaging manufacturer

Shorewood Packaging

(SWD)

will pay nearly $400 million for the U.K.'s

Field Group

, outbidding rival

Chesapeake

(CSK)

.

U.K. utility companies

National Power

(NP) - Get Report

and

United Utilities

(UU)

said they have ended merger talks.

For more international news and commentary, click

here.

General News

Two Republican senators, Vermont's

James Jeffords

and Pennsylvania's

Arlen Specter

, said they will not vote to convict

President Clinton

on charges of perjury and obstruction of justice.

The

Justice Department

is opening an inquiry into whether

Kenneth Starr's

office misled Attorney General

Janet Reno

about having had prior contact with

Paula Jones'

lawyers before asking permission to move the Whitewater investigation into the

Monica Lewinsky

matter.

Syrians begin voting today on a referendum to approve a fifth term for President

Hafez Assad

. Assad took 99.99% of the vote in the 1991 election.

Pentagon

officials said that U.S. warplanes fired on two air defense sites in southern Iraq in response to violations in the no-fly zone.

Boris Yeltsin

met with his prime minister at the Kremlin today amid the usual scrutiny of the Russian president's health. Separately, Yeltsin's plane hit and damaged the aircraft of Italian Prime Minister

Massimo D'Alema

after landing in Moscow. Yeltsin didn't feel the bump, according to Russian newspapers.

Elsewhere

The National Liberty Journal

, edited by the Rev.

Jerry Falwell

, is alerting parents of the mounting evidence that Teletubby

Tinky Winky

is intended to be a gay role model. The evidence: Tinky is purple, has a triangular antenna and recently appeared in a

Washington Post

editorial opposite a photo of "chief national gay representative"

Ellen DeGeneres

.

Have a dumb question relating to finance? Great. Have a

really

dumb question? Even better. Send it to

MonEmailbag@thestreet.com, and

TSC

columnist

Herb Greenberg

and I will do our best to answer. Include your full name, and please, no questions seeking personal financial advice or regarding personal brokerage disputes. And this reminder: Because of the volume of mail, personal replies can't be guaranteed.

Click

here to read the latest MonEmailbag.