The getting was good but the volume was thin for stocks today. Tech stocks outpaced blue-chips, which fell back late from session highs but still managed to post respectable gains.
Dow Jones Industrial Average
gained 41.32 to 9339.95, the
rose 1.88 to 1239.16 and the
Nasdaq Composite Index
jumped 22.95 to 2283.50. The small-cap
gained 1.20 to 392.29, while
TheStreet.com Internet Sector
index picked up 9.80 to close at 471.20.
European bourses closed mixed. Asian markets took hits overnight, as Japan's
lost 11.88 to 14,098.04, and Hong Kong's
dropped 148.27 to 9254.12.
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Chairman Richard L. Huber sent an apology to Teresa Goodrich, who was awarded $120.5 million from subsidiary
Aetna U.S. Healthcare
in connection with her husband's 1995 death from cancer. Huber had described Goodrich as a "weeping widow" after the judgment.
said that, in an effort to reduce costs, it may cut as much as 10% of its workforce, or about 7,150 jobs.
has made a $1.36 billion cash takeover offer to
Newport News Shipbuilding
. Newport News Shipbuilding CEO and Chairman William P. Fricks said the offer, which may jeopardize his company's $470 million merger with
, "requires a careful assessment of the antitrust risk and reliable assurance that it is unlikely to be a problem."
CEO and Chairman Alfred M. Zeien is stepping down, to be replaced by President and COO Michael C. Hawley on April 15.
has made a bid for
America West Holding
, according to
The Wall Street Journal
. It's unclear yet what
, which owns 8% of America West and the rights to buy the 49% stake held by
Texas Pacific Group
, will do.
broke the news on UAL's interest in America West a month ago.
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online-brokerage technology unit,
D.E. Shaw Financial Technology
-funded maker of video games for girls, announced that it has stopped operating and laid off its entire workforce, about 40 employees.
For more tech news and commentary, click
refused to meet with a U.S. diplomat to hammer out a last-minute peace plan with ethnic Albanians in Kosovo. Hill had intended to try to persuade Milosevic to accept the deployment of a NATO peacekeeping force in Kosovo and seal a peace deal with ethnic Albanians in Kosovo ahead of a noon Saturday deadline to avert NATO airstrikes.
confirmed reports of its intervention in the extradition case of Gen.
. The Holy See said that it asked Britain to send the former dictator back to Chilean authorities about a month ago. Separately, Palestinian leader
, in Rome to discuss the
project, today met with
Pope John Paul II
set a poison pill in the face of
LVMH Moet Hennessy Louis Vuitton's
gradually increasing stake in the company. Gucci diluted LVMH's ownership from 34.4% to 26% by granting employees options to buy 37 million new shares.
Swiss banking group
said that it plans to sell its 25% stake in
to Swiss and international institutional investors at "market conditions."
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Detroit Red Wings' Sergei Fedorov,
donated his entire 1998-99 salary -- $2 million -- to his newly created
Sergei Federov Foundation
for autistic and developmentally disabled children. "Hockey has provided me with a means to an exciting and fulfilling life," the hockey star said yesterday. Federov dates teen tennis star
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