The Internet sector had another huge day, other tech stocks drove the
Nasdaq Composite Index
to a new record high and blue chips cut early losses with another ninth-inning rally.
Dow Jones Industrial Average
dropped 23.43 to 9,619.89, while the
lost 11.28 to 1,263.81. The Nasdaq jumped 39.61 to 2,384.02, and the small-cap
picked up a modest 1.87 to 433.10.
TheStreet.com Internet Sector
index soared 88.34 to 588.11.
European bourses closed lower.
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has agreed to buy
, a provider of pharmacy services to nursing homes and prisons, in a deal worth $1.4 billion.
said it will spend $55 billion to $60 billion on research and development over the next three years.
will step down as co-CEO of
to serve as sole CEO. Both Paulson and Corzine will continue as co-chairmen.
said it will cut as many as 1,200 jobs and liquidate excess real estate holdings in an effort to streamline operations.
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agreed to acquire
for about $220 million.
agreed to acquire billing software company
for $1.48 billion in stock. The company reportedly is also in talks to acquire networking supplier
said it will not bid for cellular phone giant
, leaving AirTouch to continue talks with
Packard Bell NEC
CEO Beny Alagem reportedly is in talks to acquire a large stake in
Samsung Group's AST Computer
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British American Tobacco
agreed to acquire
Compagnie Financiere Richemont
for about $7.5 billion in stock.
U.K. oil production companies
said they are in merger talks.
reportedly is in merger talks with several companies, including Sweden's
Guangdong International Trust & Investment
, the investment unit of the wealthy Chinese province of Guangdong, has filed for bankruptcy with debts of $4.3 billion.
Long Term Credit Bank
to assess its assets and help find a receiver for its operations.
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Securities and Exchange Commission
settled its investigation of improper trading practices on the
Nasdaq Stock Market
by levying $27.1 million in penalties to 28 brokerages.
Two U.S. fighter jets fired on an air-defense installation today in northern Iraq after they were lit up by Iraqi radar.
Bank for International Settlements
meeting in Hong Kong,
told the heads of 16 central banks, including 11 from the Asia-Pacific region, to expect any slowdown of the U.S. economy to be "relatively moderate."
Communications and pharmaceutical mogul Daniel Snyder and banking brothers Howard and Edward Milstein have agreed to purchase the
Jack Kent Cooke Stadium
for $800 million.