The bombs are falling again tonight in the Balkans, but investors spent the day more concerned with Day II of Operation Tech Surge, which went off without a hitch. The tech-slathered
Nasdaq Composite Index
soared for the second straight day, largely on a massive push in
(see below). The blue-chip
Dow Jones Industrial Average
charged back toward the 10K mark, and the transport, financial services and Net sectors all posted strong gains.
The Dow gained 169.55 to 9836.39; the
added 21.33 to 1297.01; the Nasdaq rose 69.15 to 2434.43; the small-cap
shot up 8.59 to 392.99; and
TheStreet.com Internet Sector
index picked up 33.79 to close at 627.90.
European bourses closed higher, while volatile Asian markets stormed out of their recent funk. Hong Kong's
gained 114.79 to 10,826.13, and Japan's
shot up 470.57 to 15,986.04.
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last night unveiled details of its tentative contract agreement with the
Association of Flight Attendants
union. The company said that 2,300 flight attendants will split about $3.1 million in bonuses, while the salaries of top-scale attendants will rise from $23,800 to a range of $32,200 to $33,800.
In with the new jets, out with the old.
Delta Air Lines
will sell 119 Boeing 727s and up to 39 engines to
Pratt & Whitney
over the next six years. Delta is replacing its 727 fleet with 737s.
Temporary personnel company
is buying rival
in a stock and cash transaction worth about $553 million.
Morgan Stanley Dean Witter
today reported first-quarter earnings of $1.76 a share, easily outdistancing the $1.34 a share
New Century Energies
agreed to buy
Northern States Power
in a stock transaction worth about $4.9 billion.
Mmm ... more nuts for
. The private-label food maker is fortifying its Nutcracker Brands/Flavor House snack nut business by acquiring
Southern Roasted Nuts of Georgia
. Terms of the deal were not disclosed.
Pattie Manuel is stepping down from his post as head of
long-distance division. Manuel won't be replaced, as the company plans to split the division into separate consumer and business units, both reporting to President and COO Ronald T. LeMay.
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announced a four-year marketing alliance. eBay will pay AOL $75 million over the term of the deal, which includes the promotion of eBay on AOL's network and the creation of co-branded sites.
Swedish mobile phone company
and U.S. competitor
announced that they have settled their two-year patent fight over the rights to code-division multiple access, or CDMA, technology. The two companies have agreed to share each other's technology in that area.
disclosed pretax losses of almost $1 billion from its PC segment last year. A spokesman for the company said IBM is still "committed to the PC business."
Microsoft has a date with the
next Tuesday to discuss the company's settlement offer on its antitrust suit, according to a state attorney general. Mister Softee soared on the news, closing up 8 3/4 to 179 15/16.
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Day II of the
air attack against Yugoslavia is underway. Earlier today Italian Prime Minister
told reporters at a
summit that the strikes have effectively ended the Serb offensive in Kosovo, adding that "the time to give politics and diplomacy their say is approaching."
today reported that applications for unemployment benefits declined by 10,000 last week to a seasonally adjusted 289,000.
Rupert Murdoch's News Corp.
is selling its 50% interest in airline
for about $315 million.
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has made the shocking accusation that the
ceremony is not an entirely objective process governed by purely aesthetic considerations. Montenegro expressed particular dismay at the awarding of the best-foreign-film Oscar to
Life Is Beautiful
, in which she starred.
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