Stocks were mixed at midafternoon. Technology and Internet stocks traded higher, while blue-chips flattened after
raised the specter of possible overvaluation before the
Senate Banking Committee
European bourses closed higher on the heels of yesterday's rally on Wall Street. Piggy-backing Asian markets skyrocketed, as Hong Kong's
jumped 204.65 to 9433.99 and Japan's
gained 243.98 to 14,500.65.
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America West Holdings
takeover offer, and said it would no longer entertain offers from other companies interested in acquiring the airline.
Cable television operator
agreed to buy
for $981.4 million in cash and stock, and $1.11 billion in debt.
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The game of musical Internet analyst chairs continues: Henry Blodget is leaving
to fill the void at
created by Jonathan Cohen's departure for
. Blodget participated in
Net Stock Summit on Friday.
Data communications equipment maker
has agreed to buy
, maker of communications systems for voice and data networks, for $90 million cash plus stock options.
Highflying Internet company
said German media firm
sold 880,000 shares of AOL, lowering its stake to about 1.7% from 1.9%.
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Ethnic Albanians in Kosovo agreed to sign a peace agreement with Serbians within two weeks, according to
spokesman James Rubin.
Fed Chairman Alan Greenspan concluded his
testimony before the Senate today. Greenspan prognosticated, "Our economy's performance should remain solid this year, though likely with a slower pace of economic expansion and a slightly higher rate of overall inflation than last year."
Two U.S. warplanes each dropped a 2,000-pound bomb on an Iraqi command installation in retaliation for anti-aircraft fire.
Rupert Murdoch's British Sky Broadcasting
is in merger talks with France's
in a deal that would create Europe's largest television company, according to
The Wall Street Journal
Italy's stock market regulator,
, declared Olivetti's $58 billion takeover bid for
invalid because of unresolved regulatory issues raised by the deal. The ruling jeopardizes German engineering and telecom firm
bid to buy Olivetti's stakes in mobile phone company
and fixed-line firm
. Meanwhile, Italian Communications Undersecretary Michele Lauria said Telecom Italia must expand the weak shareholder core that makes it vulnerable to takeovers.
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National Press Club
audience that "there will be more Jesse Venturas on the horizon" if Democrats and Republicans "don't wake up from their bipartisan bickering." The exact number of clones, and the details of their itinerary, were left unspecified.
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