Everybody happy? Good Friday's bond rally carried over into today, and stocks took the cue, burning up the tape all day long. The
Dow Jones Industrial Average
Nasdaq Composite Index
each closing at record highs.
The Dow gained 174.82 to 10007.33; the S&P 500 rose 27.40 to 1321.12; the Nasdaq added 66.72 to 2560.09; the small-cap
hopped 3.55 to 402.29; and
TheStreet.com Internet Sector
index continued its seemingly ineluctable ascension, picking up 25.74 to close at 683.17 -- another record, by the way.
Most European exchanges were closed today for the Easter holiday, while Asian markets were higher overnight. Hong Kong's
rose 130.78 to 11,072.98, and Japan's
gained 44.59 to 16,334.78 following the moderately positive
survey (see below).
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today said it will sell 20 Midwestern wireless properties to
and a private partnership for $3.27 billion in an effort to meet
conditions on its planned acquisition by
Hanger Orthopedic Group
today said it will buy
prosthetics arm (pun intended) for about $455 million.
is trying to go super-regional. The company today announced plans to merge its Milwaukee-based
unit with the equity capital markets division of Boston-based
, its flagship subsidiary. The new company will called
Tucker Anthony Cleary Gull
, or Tucker Cleary for short.
Investment banking firm
Kohlberg Kravis Roberts
filed with the
Securities and Exchange Commission
to cut its stake in
in half by selling more than 25 million shares worth more than $1.5 billion.
Pediatrix Medical Group
plummeted today on news that the states of Arizona, Colorado and Florida are investigating the its billing practices. Pediatrix closed down 9 1/2 to 17 1/8.
Equipment rental goliath
has offered to pay $1.36 billion in cash and debt for
, jeopardizing Rental Service's plans to buy rival
in a $366 million stock deal.
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Advanced Micro Devices
today launched its new
microprocessor, which the company claims moves at 475 MHz, faster than
. AMD said that
plans to use the new chip in an upcoming
today said it will buy customer service software maker
for about $145 million in stock. Meanwhile, Lucent will pay $250 million for
Libit Signal Processing
, which makes chips enabling Internet access through cable television, according to Ze'ev Holtzman, the chief executive of
, which holds 7% of Libit.
Qwest Communications International
said today that it has secured a credit line of $1 billion from a consortium led by
Bank of America
. The company will use the loan to fund the construction of a nationwide voice and high-speed data network and overseas expansion.
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Libya today turned over two suspects in the 1988
bombing that killed 270 people over Lockerbie, Scotland. The
United Nations Security Council
suspended its sanctions against Libya on the suspects' arrival in the Netherlands. Once extradited to British authorities, the two alleged former intelligence agents,
Abdel Basset Ali al-Megrahi
Lamen Khalifa Fhimah
, will stand trial in the Netherlands by a Scottish court.
continuing air campaign against Yugoslavia is set to intensify, as the
yesterday agreed to send 24 Apache attack helicopters, 18 rocket launchers and 2,000 troops to Albania. Ready to begin relief flights of food and emergency supplies to displaced Kosovars, NATO said that 44,000 ethnic Albanians were expelled from Kosovo yesterday and estimated the number expelled over the past year at 831,000.
Bureau of Labor Statistics
released figures Friday showing about 46,000 nonfarm payroll additions last month, far below the consensus estimate of 166,000 and down from 297,000 in February.
reported on the jobs data Friday.
U.K. cable giant
Cable & Wireless
is considering a
proposal to combine the residential assets of its cable operations with rival
, according to
The Wall Street Journal
, which cited people familiar with the plan.
Bank of Japan's
quarterly tankan survey on business sentiment showed modest improvement. The small manufacturers' reading jumped to a negative 53 from a negative 56; midsize manufacturers improved to a negative 48 from a negative 52; and large manufacturers rose to a negative 47 from a negative 49.
Trying to make some world trade nice-nice, China today asked four foreign insurance companies --
John Hancock Mutual Life Insurance
Sun Life Insurance
-- to apply for licenses in that country.
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sleepwalked to his fourth victory of the year at golf's BellSouth Classic this weekend. Duval won $450,000 and has now taken a whopping $2,598,300 in just eight starts this year, enough to break the single-season money record he set in 1998.
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