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Monday, January 4, 1999

The market's powerful 1999 debut continues. Pool Energy and Nabors confirm merger talks, again.


Blue-chips and large tech stocks continued to drive U.S. stocks higher at midday.

European bourses surged on the first day of worldwide


trading. London's


overcame a slow start to close higher.

In Asia, Japan's

Nikkei 225

plunged 426.28 to 13,415.89, and Hong Kong's

Hang Seng

shed 242.87 to 9805.71. For more markets action and news, click



Bell Atlantic



BEL:NYSE) has confirmed that it is in talks to buy

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TheStreet Recommends

AirTouch Communications


(ATI) - Get Allegheny Technologies Incorporated Report

ATI:NYSE), its partner in joint venture

PrimeCo Personal Communications





DCX:NYSE) is delaying the consolidation of its two financial services arms,

Chrysler Financial



, without setting a new target date.

Online broker




EGRP:Nasdaq) announced that it will split its stock 2-for-1 at the end of the month.

Objections from the

Federal Trade Commission

have killed

Imperial Chemical Industries'



ICI:NYSE ADR) plan to sell its


business to



(DD) - Get DuPont de Nemours Inc. Report

DD:NYSE) and

NL Industries


(NL) - Get NL Industries Inc. Report


Pool Energy Services



PESC:Nasdaq) said it is once again in merger talks with

Nabors Drilling


(NBR) - Get Nabors Industries Ltd. Report

NBR:AMEX), whose previous takeover offer Pool rejected last October.

For more news on companies and stocks, click



International trading of the


has begun worldwide.

Dresdner Bank

chairman Bernhard Walter said the company is still looking to acquire a U.S. bank and plans to list on the

New York Stock Exchange

this summer.

German media company

Kirch Group

has restructured into three holding companies, thus splitting its broadcasting, investment and pay-TV operations.

For more international news and commentary, click





(INTC) - Get Intel Corporation Report

INTC:Nasdaq) has introduced two new Celeron chips running at 366 and 400 megahertz.

Connecticut hired

Electronic Data Systems



EDS:NYSE) to help the state privatize its information technology initiative in the first such contract for any state.

Internet software company



(SPYG) - Get SPDR Portfolio S&P 500 Growth ETF Report

SPYG:Nasdaq) said it expects a fiscal first quarter loss in connection with delays in licensing revenue recognition.

For more tech news and commentary, click


General News

U.S. manufacturing activity declined for the seventh straight month in December, according to the

National Association of Purchasing Management


In a spirited speech to his Cabinet on Sunday,

Saddam Hussein

said that Iraq will continue to regard U.S. and U.K. patrolling of the no-fly zones as a violation of Iraqi airspace.

The U.S. Embassy in Tel Aviv reopens today after closing last week in response to terrorist threats.


The final issue of

The Chattanooga Times

is on newsstands today. The paper's merger with crosstown rival

Chattanooga Free Press

leaves only 52 U.S. cities with more than one daily newspaper.