Investors put stocks on cruise control, sitting on the sidelines while Day III of
Operation Allied Force
unwound (see below).
Most major proxies were flat. The
Dow Jones Industrial Average
lost 14.15 to 9822.24; the
shed 7.18 to 1282.81; the
Nasdaq Composite Index
dumped 15.47 to 2419.33; the small-cap
gained 0.93 to 393.92; and
TheStreet.com Internet Sector
index picked up 1.68 to close at 629.580.
European bourses finished mixed and volatile Asian markets had a rare flat day, as Hong Kong's
shed 22.82 to 10,803.31 and Japan's
gained 30.95 to 16,016.99.
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Surface Transportation Board
Canadian National Railways'
, paving the way for a rail system linking Canada with the Gulf of Mexico.
is selling its mass-market cigar business -- including the best-selling
Garcia y Vega
brand -- to
for about $200 million in cash. General Cigar will instead focus on its premium cigar brands.
Time to stock up.
said yesterday that it will end sales of soft drink Josta, the caffeinated Brazilian guarana berry beverage introduced by the company two years ago with hopes of bringing in $500 million annually.
said President and COO
James E. Goodwin
-- a labor-friendly, 32-year company insider -- will replace the retiring
as CEO, ending a five-month search for a successor.
are suffering while an
advisory panel meets to decide whether diabetes drug
, which can cause serious liver damage in some users, should face tighter restrictions. After sinking as low as 65 15/16, the stock dropped 1 21/32 to close at 67 11/16.
extensively on Rezulin.
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No doubt responding to the successful IPO of rival
has raised the high end of its IPO price range again, this time to $23 a share. The online car dealer Tuesday had raised its offering's price range from between $16 and $18 a share to between $20 and $22 a share.
An international arbitrator has ordered Internet service provider
to pay $49 million in damages to
for a stillborn 1996 joint venture agreement to develop the Internet in Europe. Chatterjee is a U.K. investment firm owned by financier
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forces continue to pound Serbian targets. NATO has denied local Yugoslav television reports that Serbian forces shot down a NATO plane. Meanwhile, NATO reports that it has downed two Yugoslav MIG-29s over Bosnia.
, Japan's largest securities house, today disclosed one-time losses of about $4.6 billion, including $2.9 billion representing money the company is shifting to affiliated mortgage-backed securities dealer
and Icelandic biotech sidekick
today announced that they have located the gene believed to cause osteoarthritis.
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One day after
departure to the minors, the
New York Mets
signed former Met-killer and Cy Young winner
to a one-year, $2 million contract. Hershiser is now 40 years old.
Baltimore Oriole Cal Ripken Sr.
died yesterday of lung cancer at the age of 63.
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