U.S. stocks snapped back at midmorning after a quick drop at the open, with most indices hanging around their opening levels. Internet stocks maintained the market's vanguard by hanging onto early gains.
European bourses were lower at midafternoon, while Asian markets took yet another hit, with Japan's
dropping 188.52 to close at 14,161.31 and Hong Kong's
losing 82.87 to 9,419.85.
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said they plan to combine their oil and gas operations in the Permian Basin in West Texas and southeast New Mexico.
J. Michael Cook
is calling it quits as chairman and CEO of
Deloitte & Touche
said that it will form a joint venture with
, the No. 1 manufacturer of polyester film.
Goodyear Tire & Rubber
will acquire 10% of
Sumitomo Rubber Industries
, and take over the Japanese tiremaker's U.S. and European operations.
is in talks to acquire a group of hotels from REIT
Patriot American Hospitality
for up to $1 billion, according to
The Wall Street Journal
The Brain Drain is on at
Long-Term Capital Management
and Nobel Laureate
Myron S. Scholes
will leave the hedge fund four months after the firm's highly publicized near-implosion and subsequent bailout.
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should announce today that it will lease
network to offer local phone service in the state of New York, according to
The Wall Street Journal
Senior Vice President
conceded yesterday under cross-examination that Microsoft had misrepresented facts on a videotape serving as a key piece of evidence.
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said its 1998 profit declined about 22% because of depressed oil prices.
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policy makers continue meeting today in Washington to discuss whether domestic economic expansion and international economic turmoil warrant a change in interest rates.
The impeachment trial of
today continues as
Expect more PBS pledge-drives soon. A federal jury rejected a
Public Broadcasting Service
breach-of-contract claim against ex-
Monkee Michael Nesmith
, and instead awarded Nesmith $47 million on a countersuit that the not-for-profit destroyed his video distribution company by bailing out of a distribution contract.
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