U.S. stocks held on to record gains at midday, with blue-chips, tech stocks and small-caps all advancing strongly.
European bourses closed higher, and Asian markets boomed across the board Wednesday, with Hong Kong's
up 342.74 to 10,233.80 and Japan's
up 235.72 to 13,468.46.
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CI:NYSE) reportedly is in talks to sell its property-casualty business to Bermuda insurer
ACL:NYSE) for more than $3 billion.
K:NYSE) named Carlos Gutierrez to replace Arnold Langbo as CEO, effective in late April.
NKE:NYSE) are spiking upward on news that the
National Basketball Association
and the player's union have reached an agreement that will save a portion of the 1998-99 season.
NOC:NYSE) said it will take a $125 million charge in the 1998 fourth quarter and estimated that 1999 profits will be as much as 20% beneath analysts' figures.
P:NYSE) announced that it will eliminate 1,400 jobs in 1999. The company also said that a $339 million charge will contribute to a net loss for the 1998 fourth quarter.
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AMZN:Nasdaq) posted fourth-quarter sales of $250 million, up from $66 million a year ago.
APPL:Nasdaq) said it would post its fifth straight quarterly profit.
HAYZQ:Nasdaq) has ceased operations and is preparing for liquidation.
MSPG:Nasdaq) has agreed to buy the Internet access business of
unit for $245 million.
German business software firm
SAP:NYSE ADR) said its fourth-quarter pretax profit fell because of slack demand in Japan and Russia.
Science Applications International
is set to sell about 38% of its stake in
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Finance Minister Xiang Huaicheng said China will try to fend off recession by increasing government spending on public works.
The Swedish government announced it will divest 7% of
Pharmacia & Upjohn
PNU:NYSE), citing favorable market conditions.
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
has officially joined
BEL:NYSE) in the market to acquire
ATI:NYSE), with a competing offer of $54 billion.
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Senate Majority Leader
(R, Miss.) announced that the impeachment trial of
will begin tomorrow.
The government called its final witness yesterday in the antitrust trial against
Former Khmer Rouge general
warned that Cambodia could reenter civil war if the government reneges on Prime Minister
promise of immunity to two high-ranking Khmer Rouge defectors.
The civilian death toll in antimilitary riots in Indonesia has reached 17.
Baseball Writers Association of America
Baseball Hall of Fame