Wall Street took a sudden lurch lower toward the end of trading, dragged down by insistent selling of big-cap technology names. The
Nasdaq Composite Index
lost 36.15, or 1.6%, to 2259.03; the
Dow Jones Industrial Average
fell 27.17 to 9297.61; the
gave up 10.66, or 0.9%, to 1225.50; and the small-cap
edged up 0.04 to 394.43. Among Internet measures,
TheStreet.com Internet Sector
index rose 2.63 to 527.76 and
TheStreet.com E-Commerce Index
slid 0.66 to 96.90.
The major European bourses finished with modest gains, while Asian markets closed sharply lower. Hong Kong's
slid back below 10,000, losing 106.88 to 9913.58. Japan's
lost 300.69 to 13,921.06.
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of France agreed to acquire U.S. network switch outfit
for $37 a share, or about $2 billion. Alcatel expects the deal to be accretive to 2001 earnings after goodwill charges.
reported fourth-quarter earnings of 97 cents a share, above both the 15-analyst view of 90 cents and the year-ago 76 cents.
Federated Department Stores
reported fourth-quarter earnings of $1.88 a share, 6 cents ahead of the 17-analyst estimate and up from the year-ago $1.66. The company said same-store sales during the quarter rose 4.1%.
announced plans for an e-commerce and direct marketing subsidiary called
took a look at some of Venator's other efforts and challenges in a
bought the distribution rights for
Calvin Klein Jeanswear
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, which is in the process of acquiring
, set a 2-for-1 stock split.
is seeking breathing space, planning to buy more than 400 acres in San Jose, Calif., to house up to 20,000 employees in an expansion. The company now employs about 10,000 people in Silicon Valley and about 17,000 worldwide.
Hey, it worked for
announced a restructuring that will split it into two separate publicly traded companies, a measurement company and a computing and imaging company. The latter will retain the H-P name. An IPO of 15% of the measurement company, seen by the end of the year, will be the largest tech IPO in Silicon Valley history, according to
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plane carrying 76 passengers was forced to detour over Paris today by a man on board who threatened to blow it up. The plane was bound from Marseilles to Paris'
airport, but the man forced it to fly to
Roissy-Charles de Gaulle
airport instead. It landed, and the hijacker has since freed all of the passengers unharmed and has been taken into custody.
new home sales
hit a seasonally adjusted annual rate of 918,000, down 5% from December's 966,000 but up 8% from the year-ago 848,000.
Fresh from his 63% victory in Nigeria's presidential election, former Gen.
repeated his promises to foster democracy in the country. But youths said to be opposed to Obasanjo attacked two police stations with gasoline bombs, killing at least one person and wounding four.
panel has recommended that about a dozen senior officials of Cambodia's vicious Khmer Rouge be tried by a new international tribunal for crimes against humanity.
is once again trading "television commentator" for "GOP presidential candidate," making his third run for the
. Buchanan said he plans to "clean up all that pollutes" the U.S.
Bank of Scotland
and U.S. televangelist
plan to join forces to launch a direct banking operation in the U.S. "It is a very nice coincidence that my forebears left Scotland in 1695, the year in which Bank of Scotland was founded," Robertson said in a statement.
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It's Y2K Day, a consciousness-raising effort in the U.S. (
continues its Y2K coverage with a
story this morning.) And here's the latest Y2K date to focus on: April 9, 1999. That's the unofficial conception date if you're shooting for having the first baby of 2000. A Chicago doctor says at least 10 people in the last two weeks have asked for his help in that effort, according to the
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