some Dow 10K drama. The blue-chips closed just under the magic mark despite a furious run in the last half hour of trading. Traders went home carrying prematurely-tossed souvenir "Dow 10K" hats.
The market boomed across the board. The
Dow Jones Industrial Average
gained 118.21 to 9997.62; the
rose 18.73 to 1316.55; the
Nasdaq Composite Index
jumped 33.99 to 2462.96; the small-cap
twitched up 1.12 to 399.55; and
TheStreet.com Internet Sector
index added 8.53 to close at 617.46.
Things were considerably less rosy across the ponds. European bourses closed solidly lower, and resurgent Asian markets gave back some of their recent gains overnight. Hong Kong's
fell 280.75 to 10,659.32, and Japan's
sank 550.19 to 15,717.92.
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warned that first-quarter earnings will be between 30 to 35 cents a share, far below the
consensus of 65 cents a share. The company said its pilot union's sickout cost it about $200 million in pretax earnings.
Barnes & Noble
and German media firm
today registered with the
Securities and Exchange Commission
for an IPO of between 15% and 20% of
, the two companies' joint venture.
today set a 2-for-1 stock split after posting third-quarter earnings of 87 cents a share, blowing the roof off the First Call consensus of 41 cents.
is ending its pension plan as it reorganizes under Chapter 11 bankruptcy protection. The company said that the 52,000 affected retirees and employees will be compensated -- retirees through an offer of either an equivalent annuity or a lump-sum payment, and current employees through a new plan to be created from a portion of the old plan's excess funding.
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As the roadshow for its $5 billion to $6 billion bond offering winds up,
announced yesterday in a conference call that it wants to raise as much as $10 billion in debt this year. This morning, the company said that it will try out new
switching enhancement designed to help voice networks deal better with high data traffic.
set a 2-for-1 stock split for shareholders of record May 13.
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Kosovo peace talks are on the verge of collapsing, as Serbian leaders continue to stonewall even as ethnic Albanians signed a U.S.-sponsored accord.
Nation of Islam
is seriously ill from an undiagnosed condition is making its way through the major newswires.
The Final Call
, the Nation's newspaper, reported Tuesday that Farrakhan has been "struggling to overcome the forces of death" since early January.
today released figures showing the U.S. trade deficit reached an all-time high of $17 billion in January, up 21% from the previous month.
today said the
consumer price index
edged up a scant 0.1% for the month of February. The department also said that initial unemployment claims rose to 298,000 last week, a slight but unexpected jump of 6,000 from the previous week's number.
will increase its April secondary offering by 50% to help it finance its $10.1 billion acquisition of
. The company is now trying to raise about $3.4 billion in the offering.
yesterday took a look at the Deutsche-BT deal from
yesterday named Jorma Ollila chairman of the Finnish telecom company. Ollila is already the company's CEO.
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Never underestimate the rehabilitative effects of shaming.
The New York Times
today details the city of San Francisco's First Offender Prostitution Program, otherwise known as "John School." For $500, the program allows first-time johns to have solicitation arrests removed from their records after they've sat through a series of lectures, educational slide shows and, best of all, epithets hurled by angry former prostitutes.
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