On moderate volume suitable for the
, the jilted technology sector is on the rebound. The
Nasdaq Composite Index
went stratospheric, managing to outpace even blue-chip stocks, which also traded sharply higher.
Dow Jones Industrial Average
gained 212.73 to 9552.68, the
rose 32.98 to 1272.20, and the Nasdaq jumped 58.81 to 2342.41. The small-cap
gained 5.52 to 397.82, and
TheStreet.com Internet Sector
index picked up 19.78 to close at 490.98.
European bourses closed higher on late rallies, while Asian markets were mixed. Hong Kong's
dropped 24.78 to 9229.34, and Japan's
gained 158.63 to 14,256.67 after the weekend
Group of Seven
meeting revealed no opposition to the weakening yen, which closed at 121.4 to the dollar.
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has agreed to buy gas and oil-pipeline firm
Consolidated Natural Gas
in a stock swap worth $6.3 billion.
Southern California utility firm
is buying national natural gas company
for $1.8 billion in cash and stock. Sempra will also assume about $4.1 billion in debt under the deal.
made a bid of almost $1 billion for Nevada's
, besting a previous offer of more than $850 million by
today announced its $4 billion acquisition of aerospace parts manufacturer
reported Friday on the heavy call-buying in Sundstrand.
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Advanced Micro Devices
today unveils its long-awaited K6-III chip, which the company will pit against Intel's
announced it will acquire privately held online software retailer
for 5.4 million shares of its own stock, a $133.65 million price tag, based on Friday's share price.
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U.S. warplanes dropped 11 bombs on anti-aircraft sites in Northern Iraq after being lit up by Iraqi radar.
Fighting erupted between Serbian troops and ethnic Albanian rebels today as the Kosovo peace talks near their extended Tuesday deadline.
is buying a 70% stake in South Korea's
for $700 million. Seoulbank, hobbled by billions of dollars worth of bad loans, was nationalized last year by the South Korean government.
rebuffed a $58 billion hostile takeover bid by
, which claims its offer will keep the company in Italian control. Riding on the deal's success is German engineering and telecom firm
bid to buy Olivetti's stakes in mobile phone company
and fixed-line firm
. The Italian government has stayed neutral on the deal so far.
said that it has ended talks with
to buy its 45.5% stake in truck maker
, with whom Volvo announced its intention to merge last month. But Volvo said that it does not plan to sell its 13% stake in Scania.
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will hold a news conference today to announce a date for the broadcast of Walters' interview with
. Walters, a highly respected journalist known for her news-breaking ability and dogged refusal to coddle guests, has said that
did not pay for the interview.
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