Another record day for the blue-chips, as the
Dow Jones Industrial Average
continued its seemingly ineluctable march toward the 10,000 mark. But technology stocks couldn't sustain an early rally, and Internet and small-cap issues were mixed.
The Dow shot up 124.60 to a record 9897.44; the
rose 10.83 to a record 1297.67; the
Nasdaq Composite Index
rose 6.24 to 2412.25; the small-cap
shed 0.04 to 401.08; and
TheStreet.com Internet Sector
lost 3.60 to 584.08.
European bourses closed higher. News of German Finance Minister
surprise resignation sent the euro soaring against the dollar and the yen in late European trading.
tells why Oskar left in a
story this afternoon.
Asian markets were mixed, as Japan's
rose a modest 22.14 to 15,502.14 and Hong Kong's
dumped 86.20 to 10,662.81.
For more markets action and news, click
will soon be beefing up its drug business. The company's CEO, Charles Holliday, said the company wants to bring its pharmaceutical segment to "critical mass through strategic alliances," and will create a tracking stock following that segment.
Federal Trade Commission
official Wednesday told the
House Commerce Energy and Power Subcommittee
will face close scrutiny from the commission regarding the possibility that their merger will adversely affect competition in California, the Gulf Coast region and the Northeast.
announced plans to split into two publicly traded companies, one focusing on energy and the other on entertainment and aviation.
vowed to start a proxy fight to make
RJR Nabisco Holdings
spin off its food business rather than its U.S. tobacco operations. Icahn holds about 7.7% of the company. RJR CEO Steven F. Goldstone says the company will proceed as planned.
For more news on companies and stocks, click
is settling with about 300 investors who say they suffered significant losses when they were unable to cancel online market orders for
said his company may present an alternative partner for
"within several days." CMGI hired
Morgan Stanley Dean Witter
to look for companies interested in merging with Lycos to thwart the Web portal's acquisition by
. Wetherell has said that a CMGI bid for Lycos is a distinct possibility.
looked at support for Wetherell among other Lycos shareholders in a
story Wednesday night.
For more tech news and commentary, click
announced that the U.S. will offer $3.2 billion worth of high-tech weaponry for sale to Egypt, including 24 F-16 fighter jets, 200 M1-A1 tanks and one Patriot missile battery.
released figures showing that retail sales increased 0.9% for the month of February, down one-tenth of a percentage point from the revised January pace.
Fighting between ethnic Albanian rebels and Serbian forces broke out again near the Macedonian border after a U.S. envoy held an unproductive meeting with Yugoslav President
French telecom group
said it plans to cut 12,000 jobs in the next two years. Most of those cuts will come from the company's U.S. operations.
Prudential Corp. PLC
is buying mutual fund firm
for about $3.1 billion in cash.
made a $30 billion offer to buy its cellular unit,
Telecom Italia Mobile
, in an effort to ward off or sweeten
$58 billion hostile takeover offer by dramatically increasing its value. Olivetti had asked
, Italy's stock market regulator, to intervene in the plan, which Olivetti claims would be illegal as long as its tender offer for Telecom Italia is on the table.
For more international news and commentary, click
Citing sufficient evidence of academic fraud,
University of Minnesota
officials today declared four basketball players -- Kevin Clark, Miles Tarver, Antoine Broxsie and Jason Stanford -- ineligible for today's first-round
tournament matchup against the
The Pioneer Press
reported a former University office manager's charges that she had written hundreds of
papers and performed other course work for at least 20 members of the university's basketball team.
still refuses to comment.
You had to know this wasn't going to end well. A 20-year-old
Michigan State University
student was hospitalized from a "hitting contest" with another fraternity brother designed to determine which of the two was tougher.
Phi Beta Sigma
chapter president Raymond Dennis, who himself lives among fraternity brothers, offered this explanation of the ritual: "A lot of times it has to do with male pride."
-- a.k.a. ODB, for "Ol' Dirty Bastard" -- has been jailed on charges of wearing body armor, which is illegal for violent felons in the California. During the bail hearing, Deputy District Attorney Mary Ganahl requested that Judge Kevin Brown take into consideration Jones' status as head of a "street gang" named
A group protesting
business activities in Nigeria rained pies upon CEO
as he arrived for a speech at a Bay-area high school. Derr wiped the pie off his face and gave his speech.
Have a dumb question relating to finance? Great. Have a
dumb question? Even better. Send it to
MonEmailbag@thestreet.com, and I'll do my best to answer. Include your full name, and please, no questions seeking personal financial advice or regarding personal brokerage disputes. And this reminder: Because of the volume of mail, personal replies can't be guaranteed.
here to read the latest MonEmailbag.