A late rally helped U.S. stocks close pretty much where they began, with the exception of Internet stocks, which once again posted huge gains.
Dow Jones Industrial Average
lost 7.21 to 9,537.76, and the
dropped 2.60 to 1,269.74. The
Nasdaq Composite Index
gained 5.23 to 2.326.09, and the small-cap
picked up a modest 0.04 to 427.83.
TheStreet.com Internet Sector
index jumped 29.75 to 475.10.
European bourses generally closed lower.
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named Joseph B. Leonard chairman, president and CEO, effective Monday.
plummeted after the company said its 1998 earnings will fall short of expectations.
agreed to acquire small business loan originator
in a stock swap worth about $379 million.
said it will take a $125 million charge in the 1998 fourth quarter and estimated that 1999 profits will be as much as 20% beneath analysts' figures.
Morgan Stanley Dean Witter
both reported fourth-quarter earnings far above Wall Street expectations.
announced that it will eliminate 1,400 jobs in 1999. The company also said that a $339 million charge will contribute to a net loss for the 1998 fourth quarter.
have formed an alliance to make and market vitamins and nutritional supplements.
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said they will each acquire a 25% voting interest in
, an Electronic Communication Network operator for
reportedly is set to join
in the bidding fray for
is set to announce an alliance with satellite TV company
to provide interactive television via satellite.
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agreed to sell its stake in semiconductor unit
Hyundai Group's Hyundai Electronics Industry
reportedly has hired a U.S. investment bank to help it sell its car division.
Bank of England
cut its benchmark interest rate to 6.0% in anticipation of worsening domestic and international economic conditions.
Brazil has threatened to cut off funding to its second-largest state, Minas Geras, after the state said it would stop making debt payments to the federal government for three months.
today approved $1.01 billion in loans to Brazil as part of a $41.5 billion emergency package put together by the
International Monetary Fund
last November. The loans came as Brazil threatened to cut off funding to its second-largest state, Minas Geras, after the state said it would stop making debt payments to the federal government for three months.
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The impeachment trial of
The number of Americans filing for first-time unemployment benefits declined last week by 22,000.
A U.S. fighter plane fired an antiradar missile at an Iraqi air-defense installation that the pilot determined was ready to fire on him.
Details have emerged showing that the
United Nations Special Commission
shared information on Iraq with the U.S.
Central Intelligence Agency
, one day after the White House and U.N. chief weapons inspector Richard Butler denied the allegations.
Mike Riley today signed a five-year deal to coach the
San Diego Chargers