The market just can't deny the investing public's insatiable appetite for
millennial specials. It barely even tries anymore. Hello,
Dow Jones Industrial Average
closed up 222.79 to 11,011.83. Cyclicals boomed again, but so did almost everything else outside the technology sector. The rally's breadth -- including oil, transports, financials and drugs -- brought the
up 19.37 to 1354.55.
Technology stocks cut their losses late in the session to bring the
Nasdaq Composite Index
a relatively soft landing; the Nasdaq closed down 7.80 to 2535.05;
TheStreet.com Internet Sector
lost 23.29 to 632.97 in a broad selloff highlighted by loss leaders
, down 21 1/16 to 150 15/16, and
, down 12 1/16 to 162 1/2. The small-cap
gained 0.47 to 433.28.
Major European indices were mixed: Frankfurt's
closed modestly lower, while Paris'
finished in positive territory. In Asia, Hong Kong's
added 3.87 to 13,337.07 overnight. Exchanges were closed in London and Japan.
For more markets action and news, click
Data services firm
ABR Information Services
, which provides benefits administration, payroll and human-resource services, for $25.50 a share in cash, or about $750 million.
Shares of insurance holding company
are soaring after the company said it sold its
reinsurance unit to former Unicover shareholders. Delphi did not disclose the terms of the agreement, but said it expects to break even on Unicover, which it bought in November for $23 million. Delphi was lately up 9 1/8 to 40 1/4.
set plans Friday to buy
of St. Louis in a $9.9 billion stock transaction.
The fun starts tomorrow.
said it priced 69 million shares at $53 each.
board approved a $62.5 billion buyout offer from
until Thursday to make a competing bid. Comcast is working with
to sweeten its original $52.53 billion offer.
filed with the
Securities and Exchange Commission
a shelf registration for up to $1 billion in debt securities.
are buying Puerto Rico's
for about $814 million in cash and long-term debt.
For more news on companies and stocks, click
Dutch electronics firm
is buying California microchip maker
for $1.27 billion after agreeing to raise its offer by 24%, ending two months of negotiations.
, a digital music platform that lets users download music from the Web in the
format developed by AT&T.
covered the launch in
a story this morning.
set plans to take Web telephony subsidiary
public. The deal is expected to happen sometime during the third quarter.
For more tech news and commentary, click
National Association of Purchasing Management
released its monthly
Purchasing Managers Index
, which unexpectedly fell to 52.8 in April, still signifying growth in the manufacturing sector but down from last month's 54.3 reading. The 30-year Treasury bond rallied on the news. (For more on the fixed-income market, see today's early
war planes struck a major power grid in Belgrade today, blacking out the city. Alliance spokesman
said that Yugoslav President
should not expect any "reward" for this weekend's release of three captured U.S. soldiers.
released figures showing personal income rising at a 0.4% clip in March, matching economists' estimates and down from last month's 0.5% increase. Consumption also increased 0.4% for the month, better than the forecasted 0.3% but down from the previous month's 0.7%.
German cement company
made a $2.58 billion offer to buy 73.4% of Swedish cement maker
are talking with a third telecom company about joining their proposed combination, according to
The Wall Street Journal
, which cited a person close to the situation.
For more international news and commentary, click
died early this morning when his pickup truck flipped on the way home from the Raleigh-Durham International Airport. Chiasson, a 13-year
veteran, was 32.
, 38, yesterday announced his retirement from pro football, leaving
to take over his primary duty of handing the ball off to
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