Abby Joseph Cohen
Attended by a posse of 45 delegates, the Chinese premier presented
Nasdaq Stock Market
with a sculpture of a charging bull after ringing out the opening bell. Then, perhaps a bit tongue-in-cheek, Zhu uttered the most intrepid pronouncement of this stock market's strength yet: "Always bull market."
Zhu could have picked a better day, of course. The
Nasdaq Composite Index
slogged around for most of the day after surging at the open, closing down 15.33 to 2583.48. But the
Dow Jones Industrial Average
gained 55.50 to 10,395.01, setting another record; the
lost 8.82 to 1349.82;
TheStreet.com Internet Sector
index lost 14.26 to 776.18; and the small-cap
continued its strong performance, adding 4.92 to close at 417.24.
Major European indices finished higher, while Asian markets swelled overnight. Hong Kong's
gained 154.95 to 11,899.69, while Japan's
rose 207.76 to 16,715.16.
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is close to filing an antitrust case against
, charging that the company tried to muscle a smaller rival out of its Dallas hub, according to
The Wall Street Journal
, which cited officials close to the inquiry. American today acknowledged that it has been talking with Justice for nearly two years, although it denied charges of anticompetitive practices.
set plans to buy its Dallas television affiliate for $485 in stock, and said it is buying a 35% stake in online entertainment site
and a 50% stake in online mall operator
board yesterday voted to approve the spinoff of parts division
Delphi Automotive Systems
. The spinoff will be completed May 28.
The brokerages posted more solid first-quarter numbers today;
reported earnings of $1.44 a share, 22 cents above the
earned $1.01 a share, well above the 73-cent estimate.
See how much money you can save by cutting back on your smoking?
offered to buy back almost $4.8 billion in debt, using the proceeds from the recent sale of its international tobacco business.
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today said that it is buying
, a maker of telecom routing software, for about $2 billion in stock.
priced its offering of 6.5 million common shares -- 2.25 million of which are being offered by shareholders -- at 170 apiece, putting a $1.1 billion value on the deal.
No disasters here:
reported first-quarter earnings of 57 cents a share, 2 cents above the First Call consensus. But the company warned its second quarter doesn't look as strong as the first.
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Serb troops fought their way across the Albanian border today and briefly took control of the northern village of Kamanica before pulling back into Yugoslavia, according to Albanian Interior Minister
. Koci now says Albanian forces "have the situation under control."
Consumer Price Index
, which increased a lower-than-expected 0.2% for March, suggesting that inflation remains well in check. The CPI core rate, which excludes food and energy costs, increased a scant 0.1%, also below economists' expectations.
figures show retail sales rising 0.2% in March, compared with a revised 1.7% the previous month, and below analysts' expectations of a 0.5% increase.
Just two months after his appointment,
is stepping down as CEO of
after being diagnosed with complications from arrhythmia. Deputy Chairman
Sir Peter Middleton
will serve in his stead until the bank names a replacement.
was named president of
today. Cho, head of the company's U.S. production business for six years, succeeds
, who will assume the role of board chairman.
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In the Papers
The Seattle Times
reportedly strong earnings report, which the company bumped forward to this Thursday from April 22.
The San Francisco Chronicle
reports on San Jose-based eBay's latest dealings, including its talks with San Fran auction house
Butterfield & Butterfield
You do the math -- if you can. The unemployment rate is at 4.2%, but, according to a new survey profiled in
The Washington Post
, more than 33% of job applicants have substandard math and reading skills.
He demanded a ruling, and today he got one. A judge today sentenced
Dr. Jack Kevorkian
to 10 to 25 years in prison for the murder of
yesterday announced that it will end the 35-year run of soap opera
this June, replacing it with
, executive editor of
Soap Opera Digest
-- which, incidentally, failed to take home a
yesterday -- predicted the transition will be rough for soap fans. "The reason they watch soaps is because they hate change," she noted, contradicting other studies that ascribe soap fans' viewing habits to their equally intense aversion to gainful employment and non-jogging-suit apparel.
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