Investors put earnings and interest rates in the balance again today, and all session long, on thin summer volume, the major proxies went hither and thither. Most individual issues, however, went only thither -- breadth was abysmal on the
New York Stock Exchange
, and just plain bad on the
Nasdaq Stock Market
Nasdaq Composite Index
was the only benchmark to finish in positive territory, adding 7.97 to 2692.41. The
Dow Jones Industrial Average
shed 58.26 to 10,910.96; the
lost 4.03 to 1356.94; the small-cap
fell 448.38; and
TheStreet.com Internet Sector
index inched back 1.90 to 591.85.
said today that he expects the exchange to go public by Thanksgiving. The NYSE is currently owned by 1,366 member firms; in an offering, those firms would exchange their seats in return for common stock and a trading permit, Grasso said.
The big European indices all finished lower, led by the London
, which lost about 1.5%
Asian markets moved lower overnight, as Hong Kong's
dropped 275.36, or 2.06%, to 13,093.70 and Tokyo's
sank 195.9, or 1.1%, to 17,534.44..
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reported second-quarter earnings of 61 cents a share, in line with the 24-analyst
consensus and up from last year's 54 cents.
posted second-quarter earnings of 81 cents a share this morning. That's 8 cents above the 21-analyst call and even with the year-ago figure.
Food and drug chain
set plans to buy privately held
Randall's Food Markets
for more than $1.4 billion in cash and stock.
Food and Drug Adminstration
advisory panel last night rejected
laser device for treatment of farsightedness. The stock fell 75.4% on the news.
covered the news in a
story this morning.
had better luck -- an FDA panel today recommended approval of a laser it developed for treatment of nearsightedness, with or without astigmatism.
More news on companies and stocks is available in
Stock News section.
yesterday named COO Michael Capellas its president and CEO, replacing Eckhard Pfeiffer, who stepped down amid no fanfare in April.
Morgan Stanley Dean Witter
upgraded Compaq to outperform from neutral.
wrote about the move in a
story last night.
yesterday posted second-quarter earnings of 56 cents a share, a penny above the 23-analyst First Call view and ahead of the year-ago 38 cents. Gateway denied talk that it's negotiating to acquire any major Internet service provider. Recent rumors have had Gateway talking with ISPs
Internet insurance quote provider
was rocketed up 14 3/4, or 86.8%, to 31 3/4 in its trading debut.
priced the offering at $17 a share yesterday, at the top of its pricing range.
posted fourth-quarter earnings of 48 cents a share after the close yesterday, beating the 19-analyst estimate by 2 cents and up from the year-ago 35 cents.
More tech news and commentary is available in
Tech Stocks section.
reported. Earlier today the official Moroccan news agency had stated that the king, aged 70, had been taken to the hospital with acute pneumonia.
Taiwan invited China to send a representative to discuss its differences with Taiwan over President
recent statement that relations between the two countries are "state-to-state."
board rejected rival
$51.4 billion takeover offer. The company said it wanted more time for its shareholders to consider its own Pac-Man defense strategy -- a $53 billion takeover of TotalFina by Elf itself.
are ganging up to try to outbid
$4.3 billion offer for
reported, citing people familiar with the deal. Allied Domecq accepted Punch's bid earlier this week.
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If the tangy taste doesn't kill you, the force of the blast will. Two Illinois women have been victimized by exploding bottles of Col. Johnson's Thermo-Nuclear barbecue sauce, the
reported yesterday. When 45-year-old homemaker Joan Leopold opened a bottle of the sauce, the peppery drench burst forth, covering the walls and ceiling of her kitchen, burning holes in the leaves of a hanging plant and creating a frightening burning sensation about Leopold's eyebrows. The paper quoted Stan Szczap, food program manager at the DuPage County Health Department, as mistakenly noting, "It's never really been very funny."