Another bunch of
strong earnings reports wasn't enough to bring investors off the sidelines and into stocks. All the major proxies finished in the red on light to moderate volume.
Dow Jones Industrial Average
lost 22.16 to 11,187.68; the
Nasdaq Composite Index
shed 34.10 to 2830.38; the
dumped 11.12 to 1407.66; the small-cap
fell 3.89 to 461.37; and
TheStreet.com Internet Sector
index sank 21.97 to 616.76.
The transportation sector was a notable exception to the market's general weakness; the
Dow Jones Transportation Average
surged 61.97 to 3463.84.
The big European indices finished mixed, with Germany's
fractionally higher but France's
and the London
0.8% and 1.2% lower, respectively.
Asian markets went both ways overnight, as Hong Kong's
dropped 98.11 to 13,447,13, while Tokyo's
added 284.28, or 1.6%, to 18,532.58.
More markets news and commentary is available in
is in talks to sell its international container-shipping business to
, a unit of Danish shipping and oil concern
, for about $800 million in cash and assumed debt,
The Wall Street Journal
reported, citing people familiar with the talks. Moeller declined to comment on the report, which it referred to as a "rumor."
is being acquired by U.K. mobile phone firm
for $764 million in cash.
U S West
$34.7 billion buyout offer.
said it will proceed with its $11.1 billion purchase of
Chairman and CEO
Victor M.G. Chaltiel
and CFO John King are resigning from
Total Renal Care Holdings
. The resignations came yesterday as the company warned that its second-quarter earnings will come in at 20 to 22 cents a share, far below the 10-analyst consensus of 35 cents.
More news on companies and stocks is available in
Stock News section.
, a joint venture of
, set plans to offer free Internet service in the U.K. with a product called
. The product will complement the venture's AOL and
brands in Britain.
yesterday agreed to acquire privately held integrated circuit maker
for $280 million in stock.
president and chief executive officer. She'll succeed
, 58, who is retiring at the end of the year.
reported second-quarter earnings of 91 cents a share, ahead of the 21-analyst view of 88 cents and up from last year's 75 cents.
reported fourth-quarter earnings of 40 cents a share, beating the 25-analyst forecast of 36 cents a share and up from the year-ago 25 cents. Earlier today, Microsoft agreed to sell the entertainment portion of its MSN Sidewalk directory service to
Ticketmaster Online CitySearch
for $240 million in Ticketmaster stock. The deal gives Softee a 9% stake in Ticketmaster.
More tech news and commentary is available in
Tech Stocks section.
Sometime after the U.S. and Britain began their air campaign against Iraq last December, President
offered his military a bounty for shooting down U.S. and U.K. planes patrolling the no-fly zones in the north and south of Iraq, U.K. Defense Secretary
said today. Meanwhile, Iraq said that U.S. air strikes killed 14 civilians and injured 17 others 200 miles south of Baghdad. The Pentagon acknowledged that it hit two air-defense sites, which it said fired on allied war planes, though it denied knowledge of any casualties.
Investigators last night changed the definition of their search for
John F. Kennedy Jr.
; his wife,
Carolyn Bessette Kennedy
; and his sister-in-law,
, to "search and recovery" from "search and rescue."
in a telephone conversation that China may use force if Taiwan tries to assert its formal independence, according to the state newspaper
The Brazilian government filed with the
Securities and Exchange Commission
today to offer up to $7.4 million in debt and warrants from time to time. That gives Brazil a total of $10 billion on the shelf, when combined with the $2.6 billion in debt the country already has registered.
Having rejected a rival bid from
Cable & Wireless Communications
said it is in exclusive talks with
over the sale of the cable TV operations of its
Cable & Wireless Communications
Creditors of South Korean
said they will extend the payments on or restructure about $8.4 billion of debt that comes due this week. Fallout from a Daewoo bankruptcy would be severe, as the company has about 400 subsidiaries and 6,400 suppliers.
Sometimes the best defense is a good offense. France's
made a $51 billion cash-and-stock counterbid for
, two weeks after Total Fina made a $42.8 billion all-stock offer for Elf.
More international news and commentary is available in
Oct. 24 concert at Atlanta's
sold out this Saturday 30 minutes after they went on sale. Given the tickets' $97 price tag and Martin's largely preteen demographic, the show's intense demand is not a little puzzling, if not outright disturbing.
New York Yankees
threw the 14th perfect game in modern major league history yesterday, beating the
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