Tuesday, January 5, 1999
Markets
With the exception of a slightly sluggish Internet sector, U.S. stocks traded modestly higher this morning.
Asian stocks closed mixed today, with Japan's
Nikkei 225
tumbling 183.15 to 13,232.74, and Hong Kong's
Hang Seng
up 81.89 to 9,891.06.
European bourses were mixed at midafternoon.
For more markets action and news, click
here.
Companies
J. Crew Group
CEO Howard Socol has resigned less than a year after he joined the company.
Monsanto
(
MTC:NYSE) said yesterday that it will start shipping anti-arthritis drug
Celebrex
TheStreet Recommends
within 10 days.
The
Food and Drug Administration
announced its approval of
Novartis'
(
(NVTSY)
NVTSY:Nasdaq ADR)
Clomicalm
, an antidepressant for dogs with separation anxiety.
For more news on companies and stocks, click
here.
International
Dresdner Bank
chairman Bernhard Walter said the company is still looking to acquire a U.S. bank and plans to list on the
New York Stock Exchange
this summer.
German media company
Kirch Group
has restructured into three holding companies, thus splitting its broadcasting, investment and pay-TV operations.
The Swedish government announced it will divest 7% of
Pharmacia & Upjohn
(
(PNU)
PNU:NYSE), citing favorable market conditions.
Samsung Group
said it will increase its spending by one-third this year in expectation of a strong economic recovery in 1999 by South Korea.
U.K. mobile telecom firm
Vodafone
reportedly has joined
Bell Atlantic
(
(BEL)
BEL:NYSE) in the market to acquire
AirTouch Communications
(
(ATI) - Get Allegheny Technologies Incorporated Report
ATI:NYSE), with a competing offer of more than $45 billion.
For more international news and commentary, click
here.
Tech
Amazon.com
(
(AMZN) - Get Amazon.com Inc. Report
AMZN:Nasdaq) posted fourth-quarter sales of $250 million, up from $66 million a year ago.
America Online
(
(AOL)
AOL:NYSE) reportedly will make
CBS News
its exclusive news provider, replacing
ABC News
.
Intel
(
(INTC) - Get Intel Corporation Report
INTC:Nasdaq) has introduced two new Celeron chips running at 366 and 400 megahertz.
Intuit
(
(INTU) - Get Intuit Inc. Report
INTU:Nasdaq) CEO William Harris acknowledged yesterday that his company decided to add
Microsoft's
(
(MSFT) - Get Microsoft Corporation Report
MSFT:Nasdaq)
Internet Explorer
to its
Quicken
program partly because, unlike
Netscape
(
(NSCP)
NSCP:Nasdaq), Microsoft was able to offer a suitable browser on deadline.
For more tech news and commentary, click
here.
General News
House
Republicans will meet today to name Rep.
Dennis Hastert
(R-Ill.) the new Speaker.
The prosecution rested today in the trail of Malaysia's former Deputy Prime Minister
Anwar Ibrahim
.
U.S. manufacturing activity declined for the seventh straight month in December, according to the
National Association of Purchasing Management
.
Elsewhere
The
Tennessee Volunteers
beat the
Florida State Seminoles
23-16 to win college football's national championship.
